QuickBooks products charge a small fee to process payments, such as bank transfers. These fees vary based on the version of QuickBooks you are using.
This article will cover QuickBooks’ pricing structure for ACH bank transfers, the basics of ACH, as well as one way to avoid QuickBooks’ payment processing fee.
Note: Please refer to the QuickBooks Payments website for the latest processing fee rates and pricing.
How Much Does QuickBooks Charge for Bank Transfers?
QuickBooks Payment charges a fee each time you process a transaction. Prices will depend on how you process the payment.
With QuickBooks Payments, you can process payments in four different ways:
- ACH Bank Transfer: Electronically transfer money from one bank account to another.
- Card – Swiped: Swipe a credit or debit card using a card reader.
- Card – Invoiced: Share an online invoice and pay using an ACH bank transfer or a credit or debit card.
- Card – Keyed: Manually type in credit or debit card info.
Below is a chart with the latest fees for each processing method based on two QuickBooks products. Bank transfers are highlighted in grey.
| Fee Type | QuickBooks Online | QuickBooks Desktop – Pay as You Go | QuickBooks Desktop – Pay Monthly |
| Monthly Fee | None | $0 | $20 |
| ACH Bank Transfer | 1% (Max $10) | $3.00 | $3.00 |
| Card – Swiped | 2.4% + 25¢ | 2.4% + 30¢ | 1.6% + 30¢ |
| Card – Invoiced | 2.9% + 25¢ | 3.5% + 30¢ | 3.3% + 30¢ |
| Card – Keyed | 3.4% + 25¢ | 3.5% + 30¢ | 3.5% + 30¢ |
What is ACH?
The Automated Clearing House, commonly referred to as ACH, is an electronic network for financial transactions. Through the ACH, large volumes of credit cards and debit cards are processed in batches. Payments made via ACH are an excellent way for financial institutions to exchange money electronically and without the use of wire transfers, checks, cash, or credit cards. Through the ACH, large volumes of credit cards and debit cards are processed in batches.
What is Included in ACH fees?
A typical ACH fee covers the cost of transmitting the data to the ACH Network and reconciling the payments.
How Do ACH Payments Get Processed
The ACH payment is processed electronically when a merchant and customer exchange bank information. Usually, the customer must provide the following information before the order can be processed:
- Account type (checking or savings)
- Bank’s ABA routing number
- Bank account number
How Long Does QuickBooks take to Process Bank Transfers
With QuickBooks, ACH payments typically take 1-5 business days to process, depending on the financial institutions involved. Customers whose accounts are in good standing may be eligible for next-day deposits on ACH Payments.
How to Avoid QuickBooks Processing Fees
When QuickBooks began charging for bank transfers, many users expressed their displeasure. Some resorted to manually recording payments, while others reported that by using a third-party app, they were able to process bank transfers free of charge. This last method may be beneficial for those operating a B2B company. Some of the most popular third-party apps to avoid QuickBooks processing fees include CardChamp, Melio, and Veem.