QuickBooks generally charges a fee of 2.99% for payments received on invoices when customers pay online using credit cards or digital wallets. However, this percentage can vary depending on how the payment is processed, reaching 3.5% if you manually enter a customer's card information.
The specific percentage QuickBooks takes for invoices is determined by the method your customer uses to pay the invoice or how you process the payment within QuickBooks. Understanding these variations helps you anticipate the actual cost of accepting payments.
QuickBooks Payment Processing Fees for Invoices
Here's a breakdown of the typical fees you can expect when processing invoice payments through QuickBooks:| Service | Charge |
|---|---|
| Invoicing and Quick Request Rates for Cards (Visa, Mastercard, Discover, American Express) | 2.99% |
| Invoicing and Quick Request Rates for Digital Wallets (Apple Pay, PayPal, Venmo) | 2.99% |
| Payments Processed by Manually Entering a Customer's Card Information | 3.5% |
Understanding Different Invoice Payment Scenarios
The fee structure is designed to reflect the different levels of risk and processing effort involved:- Online Invoice Payments (2.99%): When you send an invoice via QuickBooks and your customer pays directly through the online payment link using their credit card (like Visa, Mastercard, Discover, or American Express) or a digital wallet (such as Apple Pay, PayPal, or Venmo), the processing fee is typically 2.99% of the transaction amount. This is the most common scenario for digitally sent invoices.
- Manually Entered Card Payments (3.5%): If, for instance, a customer provides their credit card details over the phone, and you, as the business owner, manually key in their card information into QuickBooks to process the payment, the fee increases to 3.5%. This higher rate accounts for the increased risk associated with manually entered transactions compared to online, customer-initiated payments.
By providing clear payment options, you can encourage your customers to use methods that align with the lower processing fees for your business.
