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Intuit Payments Inc. is identified as the entity providing money movement services, licensed as a Money Transmitter by the New York State Department of Financial Services, with a specific complaint reference for Texas customers.
This analysis describes what TurboTax's agreement states, permits, or reserves. It does not constitute a legal determination about enforceability. Regulatory applicability and practical outcomes may vary by jurisdiction, enforcement context, and individual circumstances. Read our methodology
This disclosure identifies Intuit Payments Inc. as a regulated money transmitter subject to New York State Department of Financial Services oversight, which has implications for how payment and money movement data is governed and what regulatory recourse is available to users of payment-related features.
The updated privacy statement no longer describes a specific opt-out procedure for advertising cookies that was previously available. The prior version stated users could 'opt out of having your personal information used or disclosed for these purposes by sliding the toggle to No and clicking Save My Choices', but this mechanism and accompanying language are no longer present in the updated disclosure. The updated terms also no longer explicitly state that IP addresses and device identifiers may be shared with advertising partners, removing prior transparency about what data types are disclosed. You should review TurboTax's main Privacy Policy to determine if opt-out mechanisms exist elsewhere or what the current data-sharing practices are.
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View change record →This provision discloses that money movement features across Intuit products are provided by Intuit Payments Inc. under money transmitter licensing, with regulatory oversight by the New York State Department of Financial Services. Texas customers are specifically directed to a complaint mechanism for money transmission service issues.
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"Money movement services are provided by Intuit Payments Inc., licensed as a Money Transmitter by the New York State Department of Financial Services. For details about our money transmission licenses, or for Texas customers with complaints about our service, please click here.Excerpt from TurboTax's Privacy Statement
1) REGULATORY LANDSCAPE: Money transmission licensing engages state money transmitter laws across all jurisdictions where Intuit Payments Inc. operates, with explicit reference to New York State Department of Financial Services (NYDFS) licensing. Texas-specific complaint procedures are referenced, indicating compliance with Texas Finance Code money transmission requirements. The Bank Secrecy Act (BSA) and FinCEN anti-money laundering (AML) obligations also apply to licensed money transmitters. CFPB oversight may apply to consumer payment services. 2) GOVERNANCE EXPOSURE: Medium. The disclosure identifies Intuit Payments Inc. as a distinct legal entity from Intuit Inc. for money movement services. Organizations or consumers using QuickBooks Payments, payroll, or other Intuit money movement features should confirm which entity holds applicable licenses in their jurisdiction and what consumer protections apply under state money transmitter law. 3) JURISDICTION FLAGS: New York and Texas are explicitly referenced. All U.S. states where money transmission services are offered create licensing exposure, and state-by-state license status should be verified for compliance purposes. Non-U.S. jurisdictions may face different regulatory frameworks for Intuit payment services. 4) CONTRACT AND VENDOR IMPLICATIONS: B2B users of QuickBooks Payments or Intuit payroll services should confirm that service agreements with Intuit Payments Inc. address regulatory change risk, including potential license revocation or amendment, and that indemnification provisions address money transmission compliance failures. 5) COMPLIANCE CONSIDERATIONS: Organizations conducting vendor due diligence on Intuit as a payment processor should verify current money transmitter license status in applicable jurisdictions, assess BSA/AML compliance representations, and review the Texas-specific complaint mechanism for customer-facing compliance implications.
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This disclosure identifies Intuit Payments Inc. as a regulated money transmitter subject to New York State Department of Financial Services oversight, which has implications for how payment and money movement data is governed and what regulatory recourse is available to users of payment-related features.
This provision discloses that money movement features across Intuit products are provided by Intuit Payments Inc. under money transmitter licensing, with regulatory oversight by the New York State Department of Financial Services. Texas customers are specifically directed to a complaint mechanism for money transmission service issues.
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