• Wed. Aug 3rd, 2022

Intuit launches Money by QuickBooks, a mobile banking for small businesses

Money by QuickBooks is the latest addition to QuickBooks’ comprehensive suite of solutions that help small businesses get paid and manage their cash flow.

The Money by QuickBooks mobile app is now available for free on iOS and Android, designed to give entrepreneurs, freelancers and sole proprietorship start-ups full control over their money with the ability to accept payments and manage payments. expenses, including debit card and bill payment capabilities.

He brings QuickBooks financial services expertise to a rapidly growing group of new small business owners who may not yet need the full range of accounting capabilities that QuickBooks offers, but are still looking for powerful tools. to manage their money from start to finish.

“The pandemic has pushed the number of small business start-ups to historic highs, and we have a unique opportunity to extend the reach of our financial services expertise to even more new entrepreneurs. These small businesses tell us they want fintech to help them feel in control of their money and cash flow, whether it’s getting paid quickly or having greater visibility into their finances. Money by QuickBooks does just that and puts these tools in the hands of small businesses, enabling them to lay the foundation for growth and success.

Rob Daniel, Director of Product Management for Intuit QuickBooks Money Offerings

Money by QuickBooks Features

After downloading the app, it only takes a few minutes to apply for a Money by QuickBooks account that has no monthly fees or minimum balance requirements and allows business owners to:

  • Request and accept payments, including ACH debits, credits and transfers. The business owner’s customer does not need to have the app.
  • Access same-day cash deposit at no additional charge for payments accepted through the app, or by using the free QuickBooks Visa business debit card, which provides access to over 19,000 Allpoint ATMs nationwide.
  • Have peace of mind because the funds are backed by FDIC insurance up to $ 250,000.
  • Easily track business income and expenses in one place with full visibility into how the business is doing and make smart financial decisions.
  • Schedule and pay your bills anytime, anywhere by check or ACH payment.

QuickBooks innovation is driven by a deep business understanding of the needs of small businesses every step of the way. This approach has fueled the development of Money by QuickBooks at a time when new business owners are embracing mobile-centric digital offerings.

For example, a 2021 Study by QuickBooks found that nearly a third (30%) of small businesses that process payments using mobile payment apps started doing so during the Covid-19 pandemic. In addition, consumers are more ready than ever to support small businesses.

These are just two of many real-life examples of how QuickBooks business information is fueling the way the business continues to evolve the Money by QuickBooks experience for small and micro businesses.

Soon, Money by QuickBooks will be adding more powerful banking features to the app that will support earning, spending, and money management. These include mobile check deposits and the ability to use the debit card through Apple Pay and Google Pay wallets.

Money by QuickBooks is the latest extension to the QuickBooks platform and draws on the expertise, knowledge and experience of decades of working with small businesses.

Banking services are provided by Intuit’s partner, Green Dot Bank.

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