Hey ya'll I've been a silent member for a while and am speaking up to see if I am cursed or if everyone has this issue.
I have been to multiple banks (large and small, most recently Chase & Quickbooks/intuit) to try and get ACH payment processing set up. Most of the banks have said no either because of the "small" amount being processed each month or because for some vague reasons they dont permit rental businesses to utilize the service.
Most recently I opened an account with Intuit who has subsequently opened a "review" to see if they and their "partner banks" allow rental businesses to receive ACH payments for rents/deposits. Meanwhile two rent payments are in cyberspace "being held temporarily" by Intuit.
Am I the only one? Does anyone have a low cost solution to get around this? I'm really tiring of banks.
Are you talking about the Intuit Payment Service (IPN) service? (https://ipn.intuit.com/) We are using it without issue and have received many tens of thousands ($) in rent payments. The general issue with ACH is that the clearing process is lengthy (3 business days, sometimes longer) and "being held" is not uncommon among all ACH service providers.
BTW, welcome to BP.
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