Get answers to frequently asked questions about QuickBooks Checking.
QuickBooks Checking is a monthly fee-free checking account where all of your customer payments get deposited. Use your QuickBooks Checking account to save money, or use features like envelopes to save proactively. Here are some frequently asked questions regarding QuickBooks Checking.
Overview
How do I sign up for QuickBooks Checking?
To sign up for QuickBooks Checking through QuickBooks Online:
- Go to Banking services and select QuickBooks Checking (Take me there).
- Select Apply in minutes and follow the steps on the application.
You can also apply through the QuickBooks Money mobile app, available for download through the Apple App Store or Google Play.
Note: To use QuickBooks Checking, you must have a QuickBooks Payments account. If you don't have a QuickBooks Payments account, your QuickBooks Checking application process will include applying for QuickBooks Payments.
Can any user sign up for QuickBooks Checking?
Primary or Company admins can sign up for QuickBooks Checking and Payments. If you already have Payments, the application will default to the Primary Principal of the Payments account. The person that applies and is approved is the only user that can move money to and from your QuickBooks Checking account. Any Primary or Company admins that didn't apply can see account balances. However, they can't move money around.
I'm a co-owner of a business that's applying for QuickBooks Checking. Is my sign-up process different?
The sign-up process is the same, but you need to answer a few additional questions. To comply with bank regulations, we're required to collect information about co-owners (also known as beneficial owners) of legal businesses that aren't sole proprietorships. A beneficial owner is any individual with
- a significant ability to control, manage, or direct the business
- 25% or more ownership of the business.
If you have a beneficial owner(s), you can tell us about them when you sign up. You don't have to fill out everything to finish the application. But we recommend you do it right away. You can come back to the QuickBooks Checking menu later to finish the form. You'll also receive email reminders.
You must submit your beneficial owner information within 30 days of signing up for QuickBooks Checking. If you don't, your account will be closed.
I applied for QuickBooks Payments, but I didn't get QuickBooks Checking. Why wasn't I eligible?
If you applied for QuickBooks Payments and QuickBooks Checking, you may only qualify for Payments and not QuickBooks Checking. Learn more about Intuit's Acceptable Use Policy for more info about prohibited activities and business types. QuickBooks Checking is a business bank account. As such, we must verify the identity of the individual and business opening the account. The information you provide in the application allows us to screen for individuals, businesses, industries, and geographies that we aren't permitted to serve.
If you believe your application was declined in error, ensure the information you provided is correct and submit it again.
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QuickBooks Checking
Learn more about the QuickBooks Checking account.
Are there fees involved with my QuickBooks Checking account?
Note: If you use instant deposits, there's no additional fee for using your QuickBooks Checking account. For other debit cards, or bank accounts, the fee is 1.75%. This is in addition to the regular fees for processing transactions. |
Fee Type | Fee |
---|
Monthly Fee | $0 |
Instant Transfer | 1.5% of the total transaction |
In-network ATM withdrawl | 4 free withdrawals per monthly statement cycle. $3.00 per transaction thereafter. |
Out-of-network ATM withdawl* | $3.00 per transaction |
Teller Cash withdrawl | $0 |
Out-of-network balance inquiry at ATM | $0 |
Replacement Card (for lost, stolen, or damaged cards) | $0 |
Foreign transaction fee | 3%of the total transaction amount |
*You may also be charged a fee by the ATM operator in addition to our fee (and you may be charged a fee for a balance inquiry even if you don't complete a fund transfer).
How much can I transfer?
Transfers that start in QuickBooks (ACH):
QuickBooks Checking using QuickBooks Online and QuickBooks Mobile.
- You can transfer up to $20,000 per day into your QuickBooks Checking account - with a maximum of up to $40,000 every 7 days.
- You can transfer up to $50,000 per day out of your QuickBooks Checking account - with a minimum of $1 per transaction.
- If you qualify, you may be able to move money right away from your QuickBooks Checking account.
You can send up to:- $5,000 per day
- $10,000 or 5 transactions in 7 days
- The maximum amount per transaction is $5,000.
Note: Instant transfer might not be available to all customers. Limits are subject to change.
Limits for new customers may vary until the QuickBooks Checking account is more established.
QuickBooks Checking using QuickBooks Money
- You can transfer up to $2,000 per transaction into your QuickBooks Checking account - with a maximum of up to $5,000 every 7 days.
- You can transfer up to $50,000 per day out of your QuickBooks Checking account - with a minimum of $1 per transaction.
Note: Limits are subject to change.
Does QuickBooks Checking support wire transfers?
QuickBooks Checking supports incoming domestic wire transfers only, at no cost. You can receive up to $1,000,000 per wire transaction. You can't send or receive international wire transfers.
To receive a wire transfer, make sure your customers have the following info:
- First and last name or Business name on your account
- Routing and account number
- Recipient bank's name and address
- Bank Name and Address
To find your routing number in QuickBooks Online:
- Sign in to QuickBooks Online and go to Banking services.
- Select QuickBooks Checking (Take me there) then select Manage.
I don't see my wire transfer in QuickBooks Checking, what do I do?
You won't see your wire transfer if it gets rejected, returned, or declined because the account info is wrong. If you don't see the wire in your QuickBooks Checking account, contact the following:
- If you initiated the wire transfer - reach out to the sending bank
- If your customer sent you the wire transfer - reach out to your customer. They'll need to speak to their bank.
To investigate a missing wire, you'll need to get a Federal Reference number or an IMAD from the sending bank.
Is my QuickBooks Checking account FDIC insured?
Yes, The FDIC insurance limit for QuickBooks Checking is a maximum of $5 million. That means balances of up to $5 million are insured by the FDIC.
Our banking partner, Green Dot, is FDIC insured and includes up to $250,000 of coverage. For customers with more than $250,000 in their QuickBooks Checking bank accounts, we use an FDIC sweep program to increase FDIC coverage up to $5 million. To learn more about the deposit sweeps program, check out FDIC insurance limit for QuickBooks Checking.
How do I close my QuickBooks Checking account?
If you bought bitcoin through QuickBooks, you need to sell all of your bitcoin. Then wait for the money to be put into your QuickBooks Checking account.
Before you can close your QuickBooks Checking account, it needs to have a $0 balance. You can either spend your remaining balance or transfer it to your external bank account.
When the balance is $0, give us a call at the number on the back of your QuickBooks Debit Card. Our team is available to help you settle everything.
What's the bank name and address?
There are situations when you may need the bank address. If you or another bank needs this info:
Green Dot Bank
1675 North Freedom Blvd, Provo, UT 84604
How do I access my monthly statements?
QuickBooks Online:
- Go to Banking services, then select QuickBooks Checking (Take me there).
- Select Manage.
- Select QuickBooks Checking account and then Monthly Statements.
QuickBooks mobile app
- Go to the Banking or Cash Flow menu.
- In the QuickBooks Checking section, select Manage.
- Select Account info and then Monthly Statements.
QuickBooks Money mobile app
- From the Overview tab select Banking.
- Select Manage account and then select Account info.
- Select Monthly Statements.
Will I get 1099 for this account?
Yes, if you earn $10 or more in interest throughout the year. We’ll provide you with a 1099-INT form by January 31 of the following year. Here's how you can access your 1099-INT form:
Using Quickbooks Online
- Go to Banking services, then select QuickBooks Checking (Take me there).
- Select Manage account.
- Locate the tax forms in the QuickBooks Checking account section.
- Choose the correct tax year and select Download.
If your QuickBooks Checking account is closed, we'll mail you a 1099-INT.
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Disclaimer: QuickBooks Payments account subject to eligibility criteria, credit and application approval. Money movement services are provided by Intuit Payments Inc., licensed as a Money Transmitter by the New York State Department of Financial Services.