Intuit Launches Money by QuickBooks, 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 cash flow.
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The Money by QuickBooks mobile app is now available for free on iOS and Android designed to give entrepreneurs, freelancers, and sole proprietor startups complete control over their money with the ability to accept payments and manage expenses, including debit card and bill payment capabilities.
It brings the expertise of QuickBooks financial services to a rapidly growing group of new small business owners who may not yet need the full range of accounting capabilities offered by QuickBooks but are still seeking powerful tools to manage their money end-to-end.
“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. 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.”Rob Daniel, Director of Product Management for Intuit QuickBooks Money Offerings
Money by QuickBooks Features
After downloading the app, 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 the ability to:
- Request and accept payments, including debit, credit, and ACH transfer. There is no need for the business owner’s customer to have the app.
- Access business cash 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.
- Have peace of mind as funds are backed by FDIC insurance up to $250,000.
- Easily track business income and expenses in one place with full visibility of how the business is doing and make smart financial decisions.
- Schedule and pay bills anytime, anywhere via check or ACH payments.
QuickBooks innovation is driven by the company’s deep understanding of the needs of small businesses at each stage of their journey. This approach powered the development of Money by QuickBooks at a time when new business owners are embracing digital, mobile-first offerings.
For example, a 2021 study by QuickBooks found that nearly one-third (30%) of small businesses that process payments using mobile payment apps started doing so during the Covid-19 pandemic. Also, consumers are ready to support small businesses today more than ever.
These are just two of many real-world examples of how QuickBooks business insights are fueling how the company continues to evolve the Money by QuickBooks experience for small- and micro-businesses.
Soon, Money by QuickBooks will add more powerful banking features in-app that support earning, spending, and managing money. These include mobile check deposits and the ability to use the debit card via Apple Pay and Google Pay wallets.
Money by QuickBooks is the newest extension of the QuickBooks platform and leverages expertise, insights, and experience working decades with small businesses.
Banking services are provided by Intuit partner, Green Dot Bank.
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Editorial Note: This post is from a Company Press Release and may have been modified for clarity.