credit card transaction

But wouldn’t file anything else because of the jurisdiction. Intuit Merchant Services Fees ’s Merchant Credit Card Processing is a losing situation. Not only did I get ripped off by them, as did a lot of others, but they have now put these fraudulent charges against me personally and filed against my personal credit rating. Intuit is stating that I owe them almost $19k of money that some hacker accessed our account and stole. The hacker tried to get $46k, but Intuit was nice enough to catch $32k of it, but with their charges and fees, are “Demanding Payment” from me for the remainder! They are in it for themselves and this proves that they have poor security, especially if this has happened to so many people. I’m in for a class action suit, they need to be punished.

How do I avoid transfer fees in QuickBooks?

  1. Go to the Cash Flow menu, then choose QuickBooks Cash.
  2. Select Transfer money, then click Move money between your account.
  3. Enter the amount you want to move to your external bank account.
  4. In the From field, select your QuickBooks Cash account.

This company is unable to provide a Statement through Dec 31st, 2014, and now January 12th, 2015 on hold for one hour, still no on line statement of fee accounting. I am shocked at the 4.1938% nearly 4.2% fees, and no accounting statement mid January, no explanation from customer support or manager.

Intuit Merchant Services 2023: Reviews & Complaints

The fee is dependent upon the payment processor. The fee may be a percentage of the transaction or a flat fee, or a combination of the two. If you’re running the software locally then you may have downloaded malware that was designed to detect account access information. Intuit has been horrible to deal with and have placed my account with a collection firm for $7500 After this ordeal all Intuit wanted to know is work out a payment plan. I may end up having to pay but I’m not there yet. You will be wasting countless hours for being on hold. Holding large amounts of payments for a small business.

If the chargeback sides with the bank customer two times then the dispute escalates to the card brand directly as a final verdict. If it’s an American Express chargeback though you may be SOL because I have yet to see a merchant win a chargeback on an AMEX transaction. I alerted quickbooks to the suspicious activity immediately and asked that the account be suspended. Furthermore my account states that my limit is $35,000/month (it also states that I can continue processing beyond $35,000 unless suspicious activity is detected).

Complicated Yet Predictable Pricing

While it’s possible to use Intuit Payment Solutions independent of QuickBooks, it’s limited to GoPayment and it’s not something the company pushes. If you contact Intuit about it, you can expect to hear a sales pitch about the ease and low cost of using QuickBooks. In any case, many businesses that use Intuit for processing also have QuickBooks.

  • I am really surprised by all of this negative feedback.
  • I went with Intuit thinking they were someone I could trust so something like this wouldn’t happen.
  • There is an option to do a free 30-day trial for the first month, but then you’ll pay the standard price starting the second month.
  • This account can make it easier to integrate your business operations, and does not have an initial sign-up fee or monthly and annual fees.

Today I’ve decided to no longer accept or process via Intuit. There are several factors in which I do not like about their services.

Looking for Alternatives to Intuit Merchant Services

The pricing table looks simple enough, but the asterisk following the sentence in the upper right-hand corner that that says, “All transaction fees included” suggests exactly the opposite is true. Intuit does list the rate and transaction fee it charges, along with how many transactions were processed, but taht’s about it. As consumers switch to credit cards over cash, your business must… Under the payment you just recorded, there should be a list of accounts. Pick the appropriate expense account to record all merchant fees. We can’t tell you if your fees are too high, but we can tell you how to figure out if you’re overpaying for QuickBooks credit card fees.

  • A large number of similar complaints can be found in the review section of many merchant services review sites.
  • Banks charge all credit card processors the same interchange fees to process various credit card transactions.
  • Some processors pass these fees directly to businesses using interchange plus pricing, while other processors, like Intuit, funnel the banks’ fees through their own rates.
  • Clover POS systems offer fully integrated POS systems that also provide payment processing, point of sale hardware and point of sale software, all in one bundle.
  • To the best of our knowledge, all content is accurate as of the date posted, though offers contained herein may no longer be available.

Be the first to write a comment.

Your feedback