10 Steps to Changing Your Intuit QuickBooks Merchant Services Bank Account
The beginning of the New Year always brings with it a lot of calls about new QuickBooks files, migrating QuickBooks data from one Company file to the new file, setting-up new merchant accounts, and changing the bank account where merchant service payments are deposited. Just today I got a call asking "how do I change the bank account where my QuickBooks Merchant Service account payments are deposited?"
You can change the bank account where your credit card payments, processed using Intuit QuickBooks Payments (aka: Intuit Merchant Services) by accessing your account at the online service center, and then following these 10 steps:
1) Sign-in to Intuit QuickBooks Payments using your User ID (or Email) and Password
2) From the Home Page, select Account on the Menu Bar across the top of the page.
3) On the Account Menu, select the Account Profile option
4) In the Deposit Account Information section of your Account Profile, click Edit. (If you don’t see an Edit Button, click the button to Add a Bank Account link.)
5) Enter the last four (4) digits of your Federal Tax ID or Social Security number that is associated with your account.
6) Click Submit
7) QuickBooks will display a screen for you to enter details concerning your account.
8) Enter your bank account routing and account numbers. Confirm the account number. (Note: The window displays the location of this information on your checks. The account you set here does not affect your bank accounts inside QuickBooks, it only determines the destination bank account for fund transactions made by Intuit QuickBooks Payments.
- Note: You can save multiple bank accounts within your profile; however, you can only have one bank account activated at a time. You cannot sent deposits to more than one bank account; however, you can switch bank accounts at any time using this procedure.
- Note: If an error occurs reporting that your Bank Routing Number is Invalid, you will need to verify the routing number with your bank before making the change to your merchant account.
9) Select the Reason for this account change from the drop-down menu. Some possible reasons for change might require that you contact an Intuit QuickBooks Payments service agent.
10) When you have completed all required information, click Submit.
If you follow these easy steps you will be receiving merchant payments in your new bank account immediately, or the next day, depending on what time of day you make the account change. Changes made before 3 PM Pacific Standard Time will take effect the same day, changes made after 3 PM Pacific Standard Time will take effect the following day.