Why did the envelope APY change from 5% to 1.75%?

Let me share more information about envelope APY, @thunderboltpools.

APY is accurate as of July 31, 2023, and may change at our discretion at any time. The APY listed will be paid on the average daily available balances across all created envelopes within the primary QuickBooks Checking account. Balances held outside an envelope will not earn interest. See Deposit Account Agreement for terms and conditions.

The 5% APY for QuickBooks Checking is the latest update. However, if you are seeing that the percentage in your account is only 1.75%, this reflects our old APY. I suggest contacting our payment support team for an accurate explanation and to get a thorough investigation of the changes.

You can also connect with our payment support team by contacting the number posted on the link or chatting with us. 

• Chat with us
• You can also contact support via chat using the Merchant Service Center.

You can check these articles to learn more about APY:

• Create envelopes to set your funds aside with QuickBooks Checking
• QuickBooks Online new features and improvements—November 2022 - Firm of the Future

Check this article for frequently asked questions about QuickBooks Checking: QuickBooks Checking FAQ.

If you have further questions about envelope APY, please don't hesitate to click the reply button. Have a great day, and take care always.