QuickBooks Checking was launched today by Intuit, the global technology platform that powers TurboTax, QuickBooks, Mint, Credit Karma, and Mailchimp. QuickBooks Checking, first introduced in 2020 as QuickBooks Cash, has changed business banking into an active money-management center that provides small businesses with increased cash flow predictability and financial control. Differentiated banking experience enhanced with new features to deliver greater value, visibility and cash management capabilities to small businesses.
QuickBooks Checking's active client base has increased fourfold since January 2021, with more than a third of those customers being new small companies operating for less than a year. As an online and mobile-optimized banking solution, small businesses can open a QuickBooks Checking account in minutes and instantly gain access to a variety of services and features, including a debit card (physical and virtual)*, a competitive 1.00 percent annual percentage yield* on all balances, and no-fee bill pay (checks and ACH).
"Thousands of small businesses are turning to QuickBooks Checking to manage their cash flow, and we’re laser-focused on continuing to refine and design an even more robust banking experience with their specific needs in mind."
Rania Succar, Senior Vice President of QuickBooks Money Offerings
QuickBooks Checking will provide small company users with two critical features: Cash Flow Planner* and Envelopes*. The Cash Flow Planner* provides actionable insights to assist with future planning by forecasting cash flow 90 days in advance using machine learning and data analysis. Envelopes* allow small firms to segment cash for anticipated or unforeseen expenses, preventing funds from being spent before their intended use. Sales tax in particular is something businesses need to plan for and trying to manage this manually can take significant time and energy. QuickBooks Checking will help streamline this procedure for small businesses by introducing Sales Tax Automation*.
Additionally, QuickBooks Checking is delivering additional capabilities to further strengthen its position as a one-stop business banking solution. Among the new features are the following:
Mobile Check Deposit*
A Virtual Debit Card*
Apple Pay/Google Pay*
QuickBooks Checking, a business checking account offered by our partner GreenDot Bank, is integrated with QuickBooks' suite of money products, which includes payments, capital, and banking services. These products are specifically designed to assist small business customers in gaining faster access to their money and managing their cash flow more effectively. Through services such as QuickBooks Checking and Money by QuickBooks, Intuit is transforming business banking by simplifying money management and increasing cash flow predictability for small companies at every step of their journey.
Intuit is a multinational technology company that specializes in assisting individuals and small companies with overcoming their most significant financial obstacles. We believe that everyone should have the ability to flourish and serve over 100 million consumers globally through TurboTax, QuickBooks, Mint, Credit Karma, and Mailchimp. We are constantly on the lookout for fresh, inventive methods to make it feasible.