QuickBooks Online Payments Accountant and Client Rates Just Got Better With Free Bank Transfers!

QuickBooks® Online (QBO) Payments is making it easier and more cost effective for you and your clients to get paid faster. Recently, we optimized our QBO Payments pricing structure in the following ways:

  • We decreased the fee to accept an ACH Bank Transfer payment from $0.50 to Free.*
  • We created a new, discounted invoice rate. For example, when a ProAdvisor® managing their firm with QBOA sends an invoice with a pay now button, and a client pays the invoice online, the ProAdvisor will be charged $2.75% + $0.25 per transaction. Previously, invoices paid online were assessed at the keyed rate at 2.9% + $.25.

Currently, the new payment rates are available for new QBO Payments customers only though. The rates will be available for existing QBO Payments customers soon. The estimated timing is mid-January. We will notify you through this blog when the pricing becomes available. If you are an existing QBO Payments customer, you can call 800-558-9558 anytime, between now and when the pricing becomes available, to schedule your account update.

Discounted QBOA and QBO client referral rates are as follows:

Accept Free ACH Bank Transfers

With free ACH bank transfer payments, you can receive payments with no fee. Free ACH Bank Transfer payments will be auto-deposited into your bank account, within an estimated five business days. There are a few different ways to accept an ACH bank transfer payment in QuickBooks Online:

  1. Allow your customers to pay invoices online in a couple clicks, with the “Pay Now Button.” You can choose to accept ACH bank transfers only, or ACH bank transfers and credit cards. Whatever works best for your business.
  2. Process one-time ACH Bank transfer payments within the sales receipt, or receive payments workflows by manually entering your customer’s bank account and routing number directly in the form.
  3. Set up recurring ACH Bank transfer payments to automatically charge a customer on a set cadence that you specify. Use the recurring sales receipts form to set up.

How to Get Set Up:

If you don’t have QBO payments turned on for your QuickBooks Online Accountant (QBOA) account, accountants can get set up directly in QBOA by following the below instructions, or by calling (888) 236-9501 today:

Get set up in QBOA:

  1. Sign into your QBOA Account.
  2. Navigate to “Company Settings” within the gear menu.
  3. Click Payments and then learn more.
  4. Complete a quick application to get set-up in a few minutes.

If you would like to refer a client who is interested in QBO Payments, please have them call (888) 236-9501 directly to get set up with the discounted client referral rates.

* Free refers to no per transaction fees for receipt of ACH Bank Transfer payment. Subscription to QuickBooks Online and/or optional monthly Payments plan may be required. QuickBooks Payments account is subject to eligibility criteria, credit and application approval.