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luke-lspmedia-ne
May 7, 2024
Question

Why are the quickbooks payment fees so high? How do I reduce them?

  • May 7, 2024
  • 6 replies
  • 155 views
No text available

6 replies

4Gal
Level 5
May 7, 2024

If you are running a B2B company, you can use 3rd party processor to accept payments for free.

DivinaMercy_N
DivinaMercy_NModerator
Moderator
May 7, 2024

The amount of QuickBooks Payments fees depends on how you process the transaction, Luke.

 

This happens every time you process a transaction in QuickBooks Payments. For instance, the ACH/bank transfer rate per transaction is 1% (Max $10). For more details, check out this article: QuickBooks payment fees & rates for the standard payment fees & rates. 

 

Then, to help you reduce the rates of fees, you can request a rate review to determine if you qualify for discounts. For detailed info, refer to this link: Request a rate review of QuickBooks Payments discount fees.

 

Should you have other questions about the processing fees of QuickBooks Payments, please don't hesitate to post a reply below. I'm always here ready to lend a hand. Have a good one. 

kriscolby
January 12, 2025

the fees I pay for accepting Quickbooks payments from my clients have increased dramatically. How do I address this?

EduardA
EduardAQuickBooks Team
QuickBooks Team
January 12, 2025

Hi, kris. We periodically adjust our prices to ensure that we can continue providing top-notch products and support, both now and in the future.

 

Rest assured, you can still continue to enjoy the benefit of an ACH cap depending on your specific plan and may also receive lower card rates compared to our standard pricing plan. If you qualify for discounts, you can request a rate review for your account.

 

Here are the following requirements you must meet:

 

  • You processed through QuickBooks Payments:
    • In QuickBooks Online, you have maintained an average processing amount of $10,000 over the past three months.
    • In QuickBooks Desktop, you have maintained an average processing amount of $15,000 over the past three months.
  • You have consistently used QuickBooks Payments for the past three or more consecutive months.
  • Your account is currently free of any fund holds and is in excellent standing.

 

For more information, please refer to this article: Request a rate review of QuickBooks Payments discount fees.

 

If you meet the criteria, please reach out to our customer support team so that we can initiate a review of your account rates.

 

Moreover, you can visit this material for guidance if you notice a recent payment you accepted is on hold: Learn about funds on hold in QuickBooks Payments.

 

Please don't hesitate to reply below whenever you have further inquiries about the processing fees for QuickBooks Payments. I am always available and eager to assist.

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