Effective March 19, 2025, Intuit is updating its QuickBooks Checking Deposit Account Agreement. These changes impact daily transaction limits, ACH and wire transfer thresholds, foreign transaction fees, and dispute resolution policies. If you rely on QuickBooks Checking for business banking, understanding these updates will help you avoid surprises.
Key Changes to QuickBooks Checking Limits & Fees
Transaction Limits Adjustments
New daily and per-transaction caps have been introduced:
ATM Withdrawals: Limited to 10 transactions per day
Total Purchases & Cash Withdrawals: $10,000 per day
Funding Transactions: $5,000 per day
ACH Transfers:
Up to $500,000 per transaction into your account
Up to $100,000 per transaction out of your account
Wire Transfers: Up to $1,000,000 per transaction
Instant Transfers:
Up to 5 per day and per week
Up to 10 per month
💡 Instant Transfers allow you to move money from your QuickBooks Checking account to an external bank account or debit card instantly, instead of waiting for standard ACH processing.
New Foreign Transaction Fee
A 3% foreign transaction fee will apply in the following cases:
Purchases made from foreign merchants or banks, including foreign websites
Transactions conducted in any currency other than U.S. dollars
This fee is in addition to any other applicable transaction fees.
Dispute Resolution Policy Update
QuickBooks Checking customers should be aware of the following changes to the dispute process:
Complaints or transaction disputes may require a written submission.
If the written dispute is not received within 10 business days, you may not qualify for a provisional credit.
Updated Customer Care Address
The Customer Care mailing address has changed:
P.O. Box 9, West Chester, OH 45071-0009
How These Changes Affect Your Business
These updates could impact your cash flow, vendor payments, and international transactions. Here’s what you need to consider:
1. Adjust Your Transaction Limits & Cash Flow
If your business relies on high-volume transactions, you may need to restructure payments or transfers to stay within new limits.
Businesses that frequently transfer large amounts via ACH or wire should plan ahead to avoid disruptions.
2. Budget for Foreign Transaction Fees
If your business makes international purchases, factor in the new 3% foreign transaction fee.
Consider using alternative payment options to minimize costs when dealing with international vendors.
3. Prepare for the New Dispute Policy
Keep detailed records of transaction disputes to ensure compliance with the new 10-day written submission rule.
Ensure your accounting team or bookkeeper is aware of these changes to avoid missing deadlines for dispute claims.
4. Update Payment Processes for Payroll & Vendor Transfers
Businesses using QuickBooks Checking for payroll should review ACH and wire limits to confirm they align with current payroll needs.
If your vendor payments exceed the new daily transfer limits, consider scheduling payments in advance.
Need Help Navigating These Changes?
We’re here to help you understand how these updates affect your business banking, payroll, and vendor payments.
📞 Need assistance? Contact QuickBooks support at the number listed on the back of your QuickBooks Checking debit card.
For expert QuickBooks support, reach out to Peak Advisers for guidance on managing cash flow, transaction limits, and QuickBooks integrations.
🚀 Schedule a consultation today to ensure your business is prepared for these changes!
BOTTOM LINE
With these QuickBooks Checking updates rolling out in 2025, staying informed is key to avoiding disruptions in your business transactions. By reviewing the new limits, planning for foreign transaction fees, and understanding the dispute resolution process, you can make smarter financial decisions.
For additional information, refer to the official QuickBooks Checking Deposit Account Agreement.