What are bank payments, exactly?
Wave's bank payments option (ACH in the US, EFT in Canada) is like paying by cheque, but without the hassle. You'll get paid faster which saves time for both you and your customers.
Low cost bank payments
Give customers the option to pay invoices right from their bank account for only 1% per transaction2.
Payment solutions for your business
Get paid faster
Faster payments mean better cash flow. When your customers use bank payments, you’ll get your money within 1-7 business days1.
Never lose track of payments
With Wave, your invoices and payments automatically flow into your accounting records. You’ll never lose track of payments again, and you’ll be all set at tax time.
How accepting bank payments online works
1. Send your invoices
Email invoices with a secure “Pay Now” button after you’ve enabled the online payments option.
2. Get paid online
Customers can pay instantly by secure bank payment when they view the invoice online.
3. Money is deposited
You’ll receive the money in your account in 1 business day (Canada), or 2 business days (US)1.
Priced right for small businesses
Save $20
Save $22
starter
Plan
Just starting your business or looking for the basics? This is the place.
$0
Get started now
Create unlimited estimates, invoices, bills, and bookkeeping records
Option to accept online payments at 1% per bank payment (ACH/EFT); Credit cards starting at 2.9% + $0.60 per transaction2.
Invoice on-the-go via the Wave app
Manage cash flow and customers in one dashboard
pro
Plan
Recommended
Want to look more polished, save more time, and conquer cash flow? It’s Pro time.
$16/month
Billed monthly
$20CAD/month
Billed monthly
Get started now
Everything in Starter, plus….
Option to accept online payments at 1% per bank payment (ACH/EFT); Credit cards starting at 2.9% + $0 for the first 10 transactions of every month*.
Auto-import bank transactions
Auto-merge and categorize bank transactions
Digitally capture unlimited receipts and track expenses
Automate late payment reminders
And more!
starter
Plan
Just starting your business or looking for the basics? This is the place.
$0
Get started now
Create unlimited estimates, invoices, bills, and bookkeeping records
Option to accept online payments at 1% per bank payment (ACH/EFT); Credit cards starting at 2.9% + $0.60 per transaction2.
Invoice on-the-go via the Wave app
Manage cash flow and customers in one dashboard
pro
Plan
Recommended
Want to look more polished, save more time, and conquer cash flow? It’s Pro time.
$220CAD/year
Billed annually
$170/year
Billed annually
Get started now
Everything in Starter, plus….
Option to accept online payments at 1% per bank payment (ACH/EFT); Credit cards starting at 2.9% + $0 for the first 10 transactions of every month*.
Auto-import bank transactions
Auto-merge and categorize bank transactions
Digitally capture unlimited receipts and track expenses
Automate late payment reminders
And more!
Processing fees
Bank payments
(ACH/EFT)
1%
per transaction
($1.00 minimum fee)
($1.00 minimum fee)
Even more ways to get paid: Credit card
Customers can pay by any major credit card, right from the invoices you send them.
See all Payments features
- Online payments at an amazing low rate
- Customers pay directly from their bank account
- Perfect for when card payments aren't the right option
- Get paid within in 1-7 business days1
- Bank-grade security for all online payments
- Automate your bookkeeping: your payments connect seamlessly with your accounting records, to keep you organized
1 Payouts are processed in 1-2 business days for credit card payments and 1-7 business days for bank payments. Deposit times may vary due to processing cutoff times, third party delays, or risk reviews.
2Rates are 1% for bank payments (minimum fee of $1). For information on credit card rates, visit Pricing for details.
*Active subscription required. While subscribed to Wave’s Pro Plan, get 2.9% + $0 (Visa, Mastercard, Discover) and 3.4% + $0 (Amex) per transaction for the first 10 transactions each month. Over 10 transactions per month at 2.9% + $0.60 (Visa, Mastercard, Discover) and 3.4% + $0.60 (Amex) per transaction. Discover processing is only available to US customers.
A few notes about accepting online payments through Wave:
Approval is subject to eligibility criteria, including identity verification and credit review. Payments are a pay-per-use feature; no monthly fees here! Your deposit times may vary based on your financial institution. All payments are subject to a risk review and periodic credit risk assessments are done on business owners because we need to cover our butts (and yours). In some cases, we may hold funds and request more information if we need it for the protection of your business and Wave's.
Instant Payout is an additional service offered by Wave subject to user and payment eligibility criteria. A 1% fee is applied to the amount you withdraw from your available balance, in addition to regular processing fees. The minimum withdrawal amount is $25. Deposits are sent to the debit card linked to your account in up to 30 minutes. Deposit times may vary due to processing cutoff times or third party delays.
