QuickBooks Rebrands Banking Account as QuickBooks Checking
QuickBooks Checking app

QuickBooks Rebrands Banking Account as QuickBooks Checking

QuickBooks is giving its small business banking account a new name. What was previously named QuickBooks Cash will now be known as QuickBooks Checking.

With QuickBooks Checking, business owners can take advantage of several digital banking services. These include the ability to earn 1% APY, use a physical or virtual debit card, utilize bill pay, and more. The account also features Instant Deposit — which enables deposits to post within 30 minutes — at no extra cost. Of course, QuickBooks Checking debit card purchases also sync with the QuickBooks product, saving business owners time when categorizing expenses. Notably, the account is free to open and has no monthly fees or account minimums.

According to QuickBooks, more than 150,000 small businesses have signed up for what is now known as QuickBooks Checking since the account debuted last year. Moreover, the company reports seeing a 4x growth since the beginning of 2021. Also interesting is that one-third of customers are new small business owners whose businesses have operated for less than a year.

The move from QuickBooks Cash to QuickBooks Checking is similar to what another Intuit brand did last year —albeit in the opposite direction. After launching what was then called Credit Karma Savings and later Credit Karma Checking, both accounts were renamed to Credit Karma Money Save and Credit Karma Money Spend respectively. Incidentally, the 1% APY that QuickBooks Checking pays is far higher than the 0.10% APY currently offered by Credit Karma Save.

In a press release about the name change, the SVP of QuickBooks Money Offerings Rania Succar said of the account, “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.” Succar continued, “A banking solution that’s seamlessly integrated with the QuickBooks platform accelerates our ability to deliver tremendous benefits to small businesses and support them with complete visibility of and fast access to their money, all with total reliability.”

Although “QuickBooks Cash” wasn’t necessarily a bad name for its small business banking product, there’s no doubt that “QuickBooks Checking” is a clearer and more direct moniker. With the account already seeing a jolt in popularity, perhaps this enhancement (coupled with a fresh round of marketing and news stories like this one) will propel the offering even further. Regardless, Intuit continues to be a FinTech giant that only seems to grow stronger.

Leave a Reply

The "Email" field is empty, you must enter some text to proceed.The text you entered in the "Email" field appears to be invalid, please edit it and try again
Get the Latest News Delivered to Your Inbox

A Guide to Building Credit and Increasing Your Credit Scores

When it comes to credit, there’s some good news. The average credit score in the United States has been steadily rising in recent years, coming in at 715 in 2023. That may be because, today, consumers not only have more ways to access their credit reports and scores than ever before but also because there are an increasing number of options that Americans have for building credit in the first...

2024 SoFi Checking and Savings Review

Ever since I started taking an interest in the FinTech sector, one company whose name I’ve seen pop up over and over again is SoFi. Lately it seems as though that theme has been sent into overdrive as the company has not only become a household name thanks to its stadium naming rights deal but also because of the company’s continued product expansions. The most interesting development in my mind...
Brim logo

Brim Financial Raises $85 Million as It Eyes Global Expansion

Toronto-based FinTech infrastructure startup Brim Financial has announced a new funding round. About the round: Brim has revealed an $85 million round. The Series C was led by EDC Investments while new investor Vistara Growth and returning investors White Owl Group, Epic Ventures, and Zions Bank also participated. To date, the company has now raised $110 million including a Series B in 2021. According to Brim, the latest funding will...
Chase Freedom Flex card

Chase Reveals Q2 2024 Freedom 5%(+) Bonus Categories

Chase has announced its bonus category picks for the second quarter of 2024 — including some interesting twists. About the categories: As April approaches, Chase has revealed what categories Freedom and Freedom Flex cardholders can earn bonuses on. From April 1st through June 30th, customers can earn 5% (or more) in three categories: Amazon.com, Hotels, and Restaurants. Similar to how Chase embraced a "New Year, New Me" theme last quarter,...

FedEx Announces Winners of 11th Annual 2023 Small Business Grant Contest

Nearly three months after the entry period ended, FedEx has announced the winners of its 11th annual Small Business Grant Content. This year's event saw more than $300,000 in funds going to a variety of small businesses across the nation. Last month, the company revealed 100 finalists, with that list now being narrowed down to just 10 winners. This year's grand prize winners included KindVR, The Cupcake Collection, Up In...