Quickbooks Money is rapidly becoming a go-to solution for small business owners seeking a smarter way to manage their finances. Offered by Intuit, a trusted name in business software, QuickBooks Money combines the power of QuickBooks Payments with a robust QuickBooks Checking account to deliver a comprehensive financial toolkit directly at your fingertips. This innovative offering is designed to streamline your cash flow, maximize your earnings, and simplify your business banking experience, all within the familiar QuickBooks ecosystem.
Supercharge Your Business Savings with an Unbeatable APY
In today’s economic landscape, maximizing every dollar is crucial. QuickBooks Money stands out by offering an exceptional annual percentage yield (APY) that is over 40 times the U.S. average, as of December 9, 2024. This impressive rate applies to the average daily balances you distribute across customizable “Envelopes” within your primary QuickBooks Checking account. These Envelopes are a unique feature allowing you to earmark funds for specific purposes, all while continuously earning high interest. It’s important to note that balances held outside of these Envelopes will not accrue interest, so strategic allocation is key to maximizing your returns. For complete details on APY terms and conditions, refer to the Deposit Account Agreement.
FDIC Insurance and Enhanced Security for Peace of Mind
Trust and security are paramount when it comes to your business finances. QuickBooks Money accounts, branded as “QB checking” in some contexts, provide FDIC insurance up to the standard allowable limits through Green Dot Bank, Member FDIC. This foundational coverage ensures the safety of your deposits. Furthermore, through Green Dot Bank’s Deposit Sweep Program, QuickBooks Money elevates your protection to an impressive $5 million in FDIC insurance coverage. Balances exceeding $250,000 are automatically swept from Green Dot Bank and strategically distributed across participating financial institutions, significantly expanding your safety net. While QuickBooks Money provides this enhanced coverage, customers are advised to monitor their total assets at each institution. More information and a list of participating institutions can be found here.
Seamless Access and Fee-Free Transactions
QuickBooks Money is designed for seamless accessibility and cost-effectiveness. Enjoy fee-free ATM withdrawals at any AllPoint ATM within the network, up to four withdrawals per statement cycle. For out-of-network ATMs and bank tellers, a nominal $3 fee applies, in addition to any charges levied by the ATM owner or bank. The QuickBooks Money mobile app conveniently locates fee-free ATMs nearby. Furthermore, QuickBooks Money eliminates fees for ACH transfers. While QuickBooks Money doesn’t impose ACH transfer fees, it’s important to be aware of potential fees and restrictions from other banks involved in the transactions. Standard payment processing fees apply for both ACH and card transactions.
Experience the Speed of Same-Day Deposits
Access to your funds quickly is vital for managing cash flow effectively. QuickBooks Money offers same-day deposit, a valuable service for businesses needing near-real-time access to their earnings. Eligible QuickBooks Payments users with QuickBooks Money accounts can benefit from deposits sent throughout the day, up to three times daily, including weekends and holidays. This service, typically available for an extra fee with QuickBooks Payments, is included at no additional cost for QuickBooks Money users. Once processed, eligible deposits are typically available in your QuickBooks Money account within 30 minutes. Transactions initiated between 2:15-3:00 pm PST are excluded, and transactions after 9:00 pm PST will be processed the following morning. Keep in mind that deposit times can be influenced by third-party processing delays.
No Monthly Fees and Transparent Pricing
QuickBooks Money champions transparent and straightforward business banking. There are no monthly fees associated with maintaining your QuickBooks Money account. This commitment to no monthly fees helps businesses keep costs down. While monthly fees are waived, it’s important to be aware that other fees and limits may apply to the business bank account. Refer to the QuickBooks Money Deposit Account Agreement for a comprehensive understanding of all applicable fees and terms.
Mobile Management and Automatic Sales Tax Calculation
Manage your business finances on the go with the QuickBooks Money mobile app, available for free download on both iOS and Android platforms. The app provides a user-friendly interface for managing your account, reviewing transactions, and utilizing key features. Additionally, QuickBooks Money offers automatic sales tax calculation, estimating sales tax rates based on transaction details such as location, date, customer type, and product or service type. While QuickBooks Money provides these estimates, it’s crucial for businesses to validate all tax information before filing tax returns with the IRS.
Conclusion: QuickBooks Money – A Smart Financial Hub for Your Business
QuickBooks Money emerges as a powerful and efficient business banking solution, particularly for businesses already leveraging the QuickBooks ecosystem. Its high-yield interest, no monthly fees, robust FDIC insurance, and seamless integration with QuickBooks tools make it a compelling choice for businesses seeking to optimize their financial management. By combining essential banking features with Intuit’s renowned business solutions, QuickBooks Money empowers businesses to earn more, save time, and manage their finances with greater clarity and control. Consider QuickBooks Money to unlock a smarter, more rewarding approach to business banking.
Disclaimer: Offer terms: $5 Incentive Reward valid for new QuickBooks Money customers only. An automatic ACH transfer fee of 1% applies, and Intuit will deposit payment into your QuickBooks Money Deposit Account in up to 30 minutes. QuickBooks Payments Account and QuickBooks Money Deposit Account must be open and in good standing to receive payment. Limit one per customer, available for a limited time only.
*Product Information: QuickBooks and Intuit are technology companies, not banks. Banking services provided by Green Dot Bank, Member FDIC. QuickBooks Money is a standalone Intuit offering that includes QuickBooks Payments and QuickBooks Checking. Intuit accounts are subject to eligibility criteria, credit, and application approval. Banking services provided by and the QuickBooks Visa® Debit Card is issued by Green Dot Bank, Member FDIC, pursuant to license from Visa U.S.A., Inc. Visa is a registered trademark of Visa International Service Association. QuickBooks Checking Deposit Account Agreement applies. Banking services and debit card opening are subject to identity verification and approval by Green Dot Bank. Money movement services are provided by Intuit Payments Inc., licensed as a Money Transmitter by the New York State Department of Financial Services.
*Features: Annual percentage yield (“APY”) is accurate as of December 9, 2024, and may change. Fee-free ATM access applies to in-network AllPoint ATMs only (up to 4 withdrawals per statement cycle). Same-day deposit is subject to eligibility criteria. Other fees and limits apply. See Deposit Account Agreement for details.
*Claims: Over 40x U.S. average APY claim is based on the FDIC national rate published the week of October 16, 2023. Terms, conditions, pricing, features, and support are subject to change.
