Intuit Introduces Money by QuickBooks, Mobile Banking Designed for Small Businesses
October 19 2021 - 8:45AM
Business Wire
App leverages QuickBooks’ platform and money
movement expertise to revolutionize digital banking and payments
for early stage small business owners
Intuit (Nasdaq: INTU) today announced Money by QuickBooks, the
latest addition to a comprehensive and ever-expanding suite of
QuickBooks offerings that power small businesses with the ability
to get paid and manage their cash flow. The Money by QuickBooks
mobile app available for free on iOS and Android is designed to
give entrepreneurs, freelancers and sole proprietors just starting
their business journey complete control over their money with the
ability to accept payments and manage expenses with features
including debit card and bill payment capabilities. It brings
QuickBooks’ expertise in financial services to a rapidly growing
audience of new small business owners who may not yet need our
platform’s full range of accounting capabilities but are still
seeking powerful tools to manage their money end-to-end.
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the full release here:
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Money by QuickBooks Mobile App and Debit
Card (Photo: Business Wire)
“The pandemic has driven the number of small business starts to
historic highs, and we have a unique opportunity to expand the
reach of our financial services expertise to even more new
entrepreneurs,” said Rob Daniel, Director of Product Management for
Intuit QuickBooks Money Offerings. “These small businesses tell us
they want fintech to help them feel in control of their money and
cash flow, whether that’s getting paid quickly or having greater
visibility into their finances. Money by QuickBooks does just that
and puts these tools right in the hands of small businesses
allowing them to lay the foundation for growth and success.”
Once the app is downloaded, it takes just minutes to apply for a
Money by QuickBooks account* which has no monthly fees or minimum
balance requirements* and empowers business owners with the ability
to:
● Request and accept payments in a variety of
ways, including debit, credit and ACH transfer, without the need
for their customers to have the app.*
● Access business cash wherever, whenever
with same-day deposit at no extra fee* for payments accepted
through the app, or by using the free QuickBooks Visa® business
debit card, which enables access to over 19,000 Allpoint ATMs
nationwide.*
● Know their money is covered with funds FDIC
insured up to $250,000.*
● Easily track business income and expenses
in one place to have a full view of how their business is doing and
to make smart financial decisions.
● Schedule and pay bills anytime, anywhere
via check or ACH payments.*
At QuickBooks, our innovation is driven by our deep
understanding of the unique needs of small businesses at each stage
of their journey. This approach powered the development of Money by
QuickBooks at a critical time as new business owners are
increasingly turning to digital, mobile-first offerings. A 2021
study by QuickBooks found that nearly one third (30%) of those who
process payments using mobile payment apps started doing so during
the pandemic. Customer insights are also fueling how we continue to
enhance the Money by QuickBooks experience. Now, our digitally
inclined Money by QuickBooks customers are supported with even
stronger in-app money management capabilities including a new user
interface introduced this month that makes it easier to get a clear
view into their cash flow and easily track payments activity.
Money by QuickBooks will continue to add even more powerful
banking features in-app that support earning, spending and managing
money including mobile check deposit and the ability to use your
debit card via Apple Pay and Google Pay wallets, each of which is
expected to begin rolling out to customers in the coming weeks.
QuickBooks’ suite of money products encompasses payments,
capital and banking services that are designed specifically to help
small business customers grow and run their business, deliver
faster access to their money and improve cash flow management with
integrated, intelligent forecasting and planning capabilities.
Money by QuickBooks is the newest extension of the platform and
leverages expertise, insights and learnings from decades of working
with small businesses and gleaned since the first business bank
account for QuickBooks customers, QuickBooks Cash, launched in
2020. QuickBooks Cash and Money by QuickBooks showcase Intuit’s
transformation of business banking from a store of funds to a hub
with true predictability of cash flow, creating a purpose-built
bank account, provided by our partner Green Dot Bank. Money by
QuickBooks also leverages Intuit’s leadership in payments,
processing $91 billion in volume annually, to help small businesses
get paid fast.
For more information on Money by QuickBooks, please visit
https://quickbooks.intuit.com/get-money/.
About Intuit:
Intuit is a global technology platform that helps our customers
and communities overcome their most important financial challenges.
Serving approximately 100 million customers worldwide with
TurboTax, QuickBooks, Mint and Credit Karma, we believe that
everyone should have the opportunity to prosper. We never stop
working to find new, innovative ways to make that possible. Please
visit us for the latest information about Intuit, our products and
services, and find us on social.
QuickBooks and Intuit are a technology company, not a bank.
Banking services provided by our partner, Green Dot Bank.
Money by QuickBooks is a standalone Intuit product and currently
does not connect with other QuickBooks products such as QuickBooks
Online (and QuickBooks Cash), QuickBooks Self-Employed, and
GoPayment.
QuickBooks Payments: QuickBooks Payments required to use Money
by QuickBooks account. QuickBooks Payments account subject to
eligibility criteria, credit and application approval. QuickBooks
Payments’ Merchant Agreement applies.
Money by QuickBooks account: Money by QuickBooks account opening
is subject to identity verification and approval by Green Dot Bank.
Banking services provided by and QuickBooks Visa Debit Card are
issued by Green Dot Bank, Member FDIC, pursuant to a license from
Visa U.S.A. Inc. Visa is a registered trademark of Visa
International Service Association. FDIC insured up to $250,000:
Money by QuickBooks account funds are FDIC-insured up to the
allowable limits through Green Dot Bank, Member FDIC upon
verification of Cardholder’s identity. Coverage limit is subject to
aggregation of all of Cardholder’s funds held on deposit at Green
Dot Bank. Money by QuickBooks Deposit Account Agreement applies.
QuickBooks products and services, including QuickBooks Payments and
Same Day Deposit, are not provided by Green Dot Bank. Debit account
is not a savings account.
*Important offers, pricing details and disclaimers
View source
version on businesswire.com: https://www.businesswire.com/news/home/20211019005739/en/
Intuit QuickBooks: Dan Mahoney dan_mahoney@intuit.com
Jennifer Garcia jeng@theaccessagency.com
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