Economic relief for Wave customers

April 2, 2020
5 minutes read

We understand that in times like these, small businesses need real support. Here are three ways eligible small business owners can use Wave to help make the most of every dollar.

Free Instant Payouts

Accessing money quickly can make a big difference on your cash flow. Instant Payouts moves money to your bank account using the Visa and Mastercard networks, giving you instant access to funds received from your customers 24/7 including weekends.

If you are eligible to use Instant Payouts, from today until May 31st, 2020, we’re waiving the 1% fee on all Instant Payouts. The standard transaction processing fees (2.9% + 30c for cards and 1% for Bank Payments) are not affected. Visit the Instant Payouts FAQ page for full details.

Free Bank Payments

Processing physical payments have recently become much more challenging. Getting paid on time is crucial to your business, and we want to do everything we can to help.

So, until May 31st, 2020, we’re waiving the 1% Bank Payments (ACH) fee for up to $5,000 worth of invoices for most of our customers. While we, unfortunately, cannot waive credit card processing fees, we’re doing all that we can to create a solution that works for both our customers and Wave.

COVID-19 Temporary Wage Subsidy for Employers Integration (Canada)

Employees are the heart of so many small businesses. Being able to continue paying them and help ensure their wellbeing means the world to employers.

To help, the Canada Revenue Agency (CRA) recently introduced a Temporary Wage Subsidy for Employers. This has been integrated with Wave Payroll, allowing Canadian customers to easily calculate and apply their subsidy. To get started, check out the COVID-19 Temporary Wage Subsidy for Employers FAQ page.

By David Axler - VP, Strategy & Business Development

The information and tips shared on this blog are meant to be used as learning and personal development tools as you launch, run and grow your business. While a good place to start, these articles should not take the place of personalized advice from professionals. As our lawyers would say: “All content on Wave’s blog is intended for informational purposes only. It should not be considered legal or financial advice.” Additionally, Wave is the legal copyright holder of all materials on the blog, and others cannot re-use or publish it without our written consent.

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