QuickBooks Cash is a business bank account with debit card that’s free to open, has no minimum balance or required daily balance and no monthly service fee2. With free instant deposit for eligible users, there’s no more waiting for funds from payments processing to clear, which means no more latency math to figure out when you can pay your team or restock supplies. The money is ready when you are, and earns a truly high-yield interest — 25 times the industry average4. And with the addition of QuickBooks Cash into the QuickBooks family, small business owners not only have access to an all-in-one business bank account but can also see their entire financial picture, pay employees and bills, accept payments and get access to capital — all from the same platform.
In traditional systems, money takes too much time to get where it needs to be. Here’s an example: Normally, a business can’t accept a payment and immediately have access to that money to run payroll the same day. Some systems can tack on a 1-to -2-day waiting period before a payment is deposited, and then customers need up to a week or more to run payroll, according to research conducted in 2019 by QuickBooks. But with the instant deposit feature in QuickBooks Cash working in tandem with QuickBooks Payroll — which can set-up and run payroll on the same day — the latency goes away and people can run their business in a timely fashion. When cash moves faster, businesses can grow faster. And with their full money picture in one place, businesses are better informed, and can make better financial decisions. Click here for more information.