Intuit Quickbooks Online? Watchout before they take your money!
Description of Deceptive Practices: Unauthorized Account Creation Through Fine Print
Intuit's actions demonstrate a troubling use of deceptive practices, specifically through the inclusion of misleading fine print in their terms and conditions. When I utilized Intuit’s “send” option to email an invoice to my client, I had no knowledge or intent to authorize Intuit to open a new banking account in my name. This account was created without my explicit consent, and Intuit proceeded to:
- Accept payments from my client into this unauthorized account.
- Deduct service fees from the funds deposited.
- Retain control of the funds without allowing me to access or transfer them as intended.
The fine print that purportedly authorizes such actions is neither prominently displayed nor explained clearly during the invoicing process. As a result, I was unknowingly enrolled into a banking service and subjected to unauthorized account creation. This lack of transparency and failure to obtain explicit consent constitutes deceptive and unfair business practices.
Consumers trust companies like Intuit to act in good faith and ensure that significant actions, such as creating financial accounts, require clear and informed consent. The use of buried clauses in fine print to justify such actions is both unethical and a violation of consumer rights. It undermines transparency and places customers at risk of financial harm, as evidenced by the withholding of my funds.
This practice needs to be investigated and addressed to prevent similar issues for other customers who may be unaware of the potential consequences of using Intuit’s invoicing features. Clear disclosure, affirmative consent, and the option to opt out of services should be mandatory for any action that impacts a consumer’s financial accounts.
Jan 15th Letter
Subject: Immediate Action Required: Return My Funds and Close My Accounts
Dear Office of the President,
I am writing to formally escalate a deeply concerning issue regarding unauthorized actions and delayed access to my funds caused by Intuit. The handling of this situation has been unacceptable, and despite numerous attempts to resolve it through your customer support, the issue remains unresolved.
Here is what transpired:
- I issued an invoice through Intuit’s "send" option, expecting only an email bill to be sent to my client.
- Unbeknownst to me, Intuit’s system accepted payment on my behalf and established a new banking account in my name without my authorization.
- Intuit charged me a service fee for this transaction and deposited two payments totaling approximately $1,896.00 into this unauthorized account.
- Upon noticing this, I attempted to transfer the funds from the account Intuit set up to my existing Wells Fargo account. The system confirmed the transfer, but the funds never appeared in my Wells Fargo account.
- I immediately contacted Intuit's support, and after multiple calls, I was told that the issue was resolved and the funds would appear in 5–7 business days. This information was false.
After three unsuccessful attempts to resolve the matter with customer service, I escalated my concerns to the Office of the President. Unfortunately, I was met with more delays, repetitive questioning, and no resolution.
I am now at the end of my patience. Intuit’s unauthorized actions, deceptive communication, and failure to return my funds have caused significant inconvenience and financial harm. I am no longer willing to engage in endless conversations or provide information that you already have.
My Immediate Demands:
- Return My Funds: Transfer the full amount of $1,896.00 to my Wells Fargo account today or issue a cashier’s check sent via overnight certified mail.
- Close My Account: I no longer trust Intuit’s services. Please close any accounts associated with my business and confirm this in writing.
If these actions are not completed by the end of the day tomorrow, I will file complaints with the following organizations:
- The Federal Trade Commission (FTC)
- The Better Business Bureau (BBB)
- The State Attorney General’s Office
- Consumer Reports
- ProPublica
I trust that as a leader in your organization, you will recognize the urgency and legitimacy of this request and act promptly. Please confirm when my funds have been returned and my account has been closed.
Jan 16th I am sending these emails to each of these groups.
Description of the Problem for Complaints to Regulatory Bodies
Federal Trade Commission (FTC)
Issue Description:
Intuit set up a banking account in my name without my authorization after I issued an invoice using their service. They accepted payments on my behalf, charged a service fee, and deposited approximately $1,896.00 into the unauthorized account.
When I attempted to transfer the funds to my Wells Fargo account, the system confirmed the transfer, but the funds never appeared. Intuit’s customer service assured me that the issue was resolved and the money would appear in 5–7 business days, but this was untrue.
Despite escalating the issue to Intuit's Office of the President, I have only received repetitive questions and no resolution. This is an unauthorized action, and the delay in returning my funds has caused financial harm and stress. I request that the FTC investigate Intuit for potential violations of consumer protection laws, including deceptive practices and unauthorized account creation.
Better Business Bureau (BBB)
Issue Description:
I experienced unauthorized account creation and delayed access to funds by Intuit. After issuing an invoice, Intuit created a banking account in my name without my permission, accepted payments on my behalf, and withheld approximately $1,896.00.
Attempts to transfer the funds to my Wells Fargo account have been unsuccessful, and customer support has provided false assurances and misleading information. Escalating the issue to Intuit's Office of the President has yielded no results. I am seeking immediate return of my funds and closure of all accounts associated with Intuit.
State Attorney General’s Office
Issue Description:
Intuit has engaged in unauthorized account creation and deceptive practices. Without my knowledge or consent, they created a banking account in my name, accepted payments from my clients, and withheld approximately $1,896.00. Attempts to retrieve these funds have been met with delays, misinformation, and a lack of accountability from Intuit.
This situation has caused financial harm and constitutes a breach of consumer trust. I request the Attorney General's Office to investigate this matter and hold Intuit accountable for their actions.
Consumer Reports and ProPublica
Issue Description:
Intuit created a banking account in my name without authorization after I sent an invoice using their service. They accepted payments totaling $1,896.00, charged a service fee, and failed to transfer the funds to my designated bank account as promised.
Despite escalating my complaint to Intuit’s Office of the President, the issue remains unresolved. This situation highlights a troubling pattern of unauthorized actions and poor customer service. I am bringing this matter to your attention to raise awareness and protect other consumers from similar experiences.
Letter sent Jan 13th 2025
Here is what I told them...
Dear Office of the President,
I am writing to express my profound frustration and disappointment regarding the ongoing delays in resolving the issue with my funds. Despite repeated assurances from your team that the matter is being "worked on," I have yet to receive my money. This delay has caused me significant inconvenience and is now threatening to create further harm.
I have been patient, but that patience has reached its limit. I no longer wish to spend my time on endless phone calls, being transferred, placed on hold, or offered vague promises. This issue demands immediate action.
Here is what I expect:
- Immediate Transfer of Funds
I insist that the funds in question be transferred to the bank account linked to my Intuit account without further delay. If this is not possible, I expect a cashier's check to be sent via overnight certified mail to the address associated with my account. - Closure of My Account
Once the funds are transferred or the check is dispatched, please proceed to close my account. I will find another service provider to manage my accounting needs.
If this matter is not resolved by the end of the day tomorrow, I will be left with no choice but to escalate the issue. I will reach out to consumer protection organizations, legal representatives, and media outlets that focus on deceptive practices, including misleading fine print. These organizations include but are not limited to:
- The Better Business Bureau (BBB)
- The Federal Trade Commission (FTC)
- State Attorney General’s Office
- Consumer Reports
- ProPublica
I urge you to take this matter seriously and prioritize the resolution of this issue. I trust that as a leader in your organization, you understand the importance of maintaining trust and goodwill with your customers.
Please confirm by the end of the day today that the funds have been transferred or the cashier's check has been dispatched.
Just get it done today.
Tomorrow morning if I do not see money pending in my account of have not been informed that my money is in route via cashiers check I put all of this together and start making calls. I promise the amount of time and money this will cost your organization will be far greater then mine.
Letter sent Jan 10th 2025
I have been places on hold and to talked to multiple people I have had my issue escalated or so I was told and nothing has changed with my account and my money is still missing and now more has been placed in this bogus account. I am sure you will inform me this is my fault and had I just read the fine print blah blah blah
When a company places deceptive or critical information in fine print to mislead consumers, it's commonly referred to as "fine print deception" or "unfair or deceptive trade practices." Depending on the context and jurisdiction, it may also fall under these legal terms:
- Unfair Trade Practices: Practices that mislead or exploit consumers in a way that is unethical or unlawful.
- Deceptive Advertising: Misrepresentation in advertising to lure consumers into agreements they might not otherwise enter.
- Bait-and-Switch Tactics: Using misleading fine print to alter the terms of an offer.
- Fraudulent Misrepresentation: Intentionally hiding or obscuring critical information to deceive someone.
Relevant U.S. Laws or Regulations
- Federal Trade Commission (FTC) Act: Prohibits "unfair or deceptive acts or practices" in commerce.
- Consumer Financial Protection Bureau (CFPB) Rules: Regulates financial products and services to protect consumers from deceptive practices.
If you believe a company has used deceptive fine print to mislead you, you can:
- File a complaint with the Federal Trade Commission (FTC): FTC Complaint Page.
- Consult an attorney to determine if the company’s actions violate specific state or federal consumer protection laws.
SO,
Dear QuickBooks Support Team,
I am writing to bring to your immediate attention a serious issue regarding my QuickBooks Online account and client payments that has caused significant financial and operational challenges for my business.
Without my knowledge or explicit consent, QuickBooks set up a separate QuickBooks account to receive payments from my clients that I send online invoices to. Instead of depositing these payments into my existing and connected Wells Fargo account, the funds were held in this QuickBooks account. I only became aware of this when I contacted a client to follow up on an unpaid invoice, only to be informed that they had already paid it.
Upon investigating in QuickBooks Online, I found the payments and initiated a transfer to my Wells Fargo account. Despite QuickBooks showing the transfer as "sent," the funds never arrived in my Wells Fargo account. When I contacted your support team, I was told I needed to wait up to 5 days for the money to post. I questioned this explanation at the time, as it did not align with standard banking practices, but I waited as instructed.
As expected, the funds are still inaccessible. This has directly resulted in overdraft charges on my Wells Fargo account and forced me to freeze the account to mitigate further financial damage.
This situation amounts to theft. QuickBooks is effectively profiting from holding my funds, and I suspect this issue could extend to many other customers. If so, the cumulative amount could reach hundreds of thousands, if not millions, of dollars. I demand an immediate resolution to this issue. Specifically:
- The immediate release of my funds into my Wells Fargo account. ALL FUNDS!
- I would ask for Compensation for any overdraft fees or financial damages caused by QuickBooks’ mishandling of my money. But I think some of this may have been cause by Wells Fargo.
- A full explanation of how this occurred and steps to prevent it from happening again.
Failure to resolve this issue promptly will leave me no choice but to take further action.
Next Steps to File Actions
If this matter is not resolved, I will escalate it to the following organizations:
- Federal Trade Commission (FTC): To report unfair business practices.
- Consumer Financial Protection Bureau (CFPB): To report issues related to payment processing and financial harm.
- Better Business Bureau (BBB): To document and escalate my complaint publicly.
- State Attorney General’s Office: To investigate and act against deceptive or unethical practices in my state.
I look forward to your swift response and immediate action to resolve this issue.
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