Is this email legitimate? QuickBooks Payroll ACH ID Changes go live on the 22nd!
Trusted QuickBooks Advisors – here’s another thing for you to help your clients with
Intuit recently sent an e-mail to QuickBooks Online Payroll (QBOP) and QuickBooks Full Service Payroll (QBFSP) customers about an ACH ID change. It kind of looks like a phishing thing, but it is really a legitimate email from Intuit, and it is important to pay attention if your company uses the impacted services and a banking feature called “debit filtering”. There isn’t much time to act, either, because the changes go live in 3 days (February 22, 2016).
Impacted services are QuickBooks Online Payroll and QuickBooks Full Service Payroll, so it is pretty important to address. Nobody wants their business payroll processes interrupted, and this could easily do just that.
Intuit has added some new ACH ID numbers for use with direct deposit and other processes which work with the bank, so customers using a fraud-prevention method known as “debit filtering” will need to contact their banks to add the new IDs or their bank transactions will fail.
Debit filtering allows customers to tell their banks which ACH IDs are allowed to perform transactions with the bank account, like removing or depositing funds. It is an extra level of fraud security that protects the bank account from unauthorized access, but it is also something that can work against the business if it is not managed. In this case, contacting the bank to add the new IDs is critical to keeping things processing and flowing smoothly. It is also important that the old IDs not be removed yet, as they may be tied to historic transactions that must be tracked and reported on for tax and other purposes.
“Is this really from Intuit? It seems like Intuit would have a better way to make such changes than to ask millions of subscribers to contact their bank”
QuickBooks users don’t have much time to reach their banks and supply the new IDs, so pull the email out of the SPAM folder and call the bank right away. Intuit won’t be sending notices to the banks, and they have no authority to add different IDs to your approved list, anyway… which is a good thing. If just anyone could add an approved ACH ID on your account, then just anyone could get to your funds. Better to make the phone call yourself.