Is a QuickBooks Checking account right for you? I reviewed the platform’s pricing and features to see how they match your company’s needs.
Many are familiar with QuickBooks products, and one of them is the QuickBooks Checking account. It used to be available only to QuickBooks Online users but has since been offered free through QuickBooks Money.
The QuickBooks business account does not charge a monthly fee or require an initial deposit or minimum balance. It has a high annual percentage yield (APY) of 5.0% through its savings envelopes feature. Businesses can also benefit from its cash flow forecasting, customized invoicing, and high FDIC insurance protection. However, free ATM withdrawals are limited to four per month and cash deposits are not allowed.
QuickBooks’ fast factsOur rating: 4.09 out of 5 Starting price: Free business checking account Key features for QuickBooks Business Checking:
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Many small businesses integrate with QuickBooks Online for accounting, payroll, and payments. Companies may want to learn how linking up with a QuickBooks business checking account can help streamline the management of their funds. With budgeting, forecasting, and invoicing tools, QuickBooks supports small businesses in organizing their finances and maximizing the use of other QuickBooks products for efficiency.
Let’s evaluate QuickBooks Checking’s standout features and pricing structure to learn how it compares with other financial providers.
1.5/5
There are limited QuickBooks Checking reviews on third-party sites. On Trustpilot, its rating is 1.2 out of 5 from over 800 reviews. Many complained about the new QuickBooks subscription prices and considered the product overpriced. Others also reported their frustration over reaching customer support since they had to wade through multiple questions. They said they were transferred to different agents, and no clear resolutions were offered to their issues.
Some reviewers stated that the software is counterintuitive and slow. Another recounted that a direct deposit error took a week to fix and required constant callbacks with the customer service team. Others claimed that their refund requests were denied. Very few gave positive feedback about the quality of customer support they received.
QuickBooks Checking Pricing Structure
3.96/5
Previously, you needed to subscribe to QuickBooks Online to open a free QuickBooks Checking account. Now, you can sign up for free through QuickBooks Money, which lets you access money management tools like cash flow forecasting. The lack of standard business account fees makes it an attractive online account option for small business owners, especially QuickBooks Online users.
QuickBooks Checking account:
QuickBooks only offers one type of checking product. It is ideal for those who like transacting online as cash deposits are not accepted. Free ATM withdrawals have a limit of four monthly. Beyond that, you will incur a fee of $3 per transaction.
Would Our Expert Use QuickBooks Checking?
4.7/5
If most of your transactions are online or you already use QuickBooks Online software, I recommend opening a QuickBooks Checking account. You won’t need to pay monthly maintenance fees, initial deposits, or maintain a minimum balance. If your funds are above $250,000, it is FDIC-insured for up to $5 million through its sweep program.
I like the substantial APY of 5.0% that you can access through savings envelopes. You can also send customized invoices and receive instant deposits without paying processing fees as long as you connect your debit card with QuickBooks Payment.
However, if your business is cash-reliant and you need to deposit and withdraw cash regularly, consider heading to a traditional bank like Chase. For bookkeeping tools, an excellent option is Found
Before opening an account, see our article on how to open a business bank account to learn the step-by-step process.
If QuickBooks Checking doesn’t fit all your needs, here are some alternatives to consider:
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| Integrated bookkeeping and tax tools No ACH fees Expense tracking with receipt capture |
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I researched the QuickBooks business checking account online, comparing it to other financial providers for monthly fees, opening deposits, and minimum balances, including APY offerings. I also evaluated user reviews from third-party sites to gauge customer satisfaction.
QuickBooks Checking scores high on minimal fees, superior interest, and seamless integration with QuickBooks products. However, businesses that prefer to bank in person and often perform wire transfers and ATM withdrawals can look for other options.
With a QuickBooks Checking account, there are no account opening fees, monthly fees, instant deposit fees, and ACH fees. You can also make four free ATM withdrawals at Allpoint ATMs. Beyond that, you will pay a $3 fee.
Yes. QuickBooks Checking can be a good fit for small businesses, especially those already using products within the QuickBooks ecosystem for more efficient integrations. You can also earn from its high APY and save on standard banking fees. However, there are limited free ATM withdrawals and wire transfer support.
Compared to other business checking accounts, QuickBooks Checking has minimal fees and provides a high yield through its savings envelopes feature.
Yes. Transfer amounts into your QuickBooks Checking account are limited to $20,000 per transaction for up to a maximum of $40,000 every seven days. External transfers from your QuickBooks business account are up to $50,000 daily for a minimum of $1 per transaction. Free ATM withdrawals are also limited to four monthly.
Robi Mansueto brings over a decade of experience in consumer and preferred banking, with expertise in investment services, client relationship management, and financial product sales. She has held key roles at the Bank of the Philippine Islands and CIMB Securities (Singapore), where she managed high-net-worth clients and oversaw investment, loan, and securities transactions. With a strong background in client onboarding, compliance, and risk management, Robi has ensured strict adherence to regulatory standards throughout her career.
