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
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.
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 cards and digital payments works
Processing fees
Bank Payments
See all Payments features
Simple fee structure with low rates and no hidden fees
All major cards accepted: Visa, Visa Debit, Mastercard, Mastercard Debit, and American Express
Compatible with Apple Pay
Get paid within 1-2 business days for credit card payments and 1-7 business days for bank payments1
Set up recurring billing with automatic payments for your repeat customers with the Pro Plan or online payments
Request deposits through your Wave estimates
Bank-grade security for all online payments
Payments connect seamlessly with your Wave account, keeping your books in-sync
1Payouts 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 the pricing section for details.
3Customers who enable payments on Wave invoices mark invoices paid three times faster than those who are paid through cash or check.
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 (minimum fee of $1), 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.
Frequently Asked Questions
Is Wave's software something I need to install?
Wave's tools are web-based, so you just need an Internet connection and browser—no installation is necessary for our online software!
If you're looking for an on-the-go solution, you can install our mobile app to help you manage invoices and payments. Download our mobile app on iOS and Android today!
What if I just want to try Wave to see if it works for my business?
Sign up for the Starter Plan to take the bookkeeping and invoicing basics for a spin. Then, whenever you’re ready, upgrade to the Pro Plan to unlock even more money management features. Our plans are built for small business owners at every stage!
Can I change plans easily?
You bet! To upgrade to the Pro Plan, sign into Wave. Visit your dashboard or use your invoicing or accounting features, and click the “Upgrade now” button. Learn more about changing subscription periods and plan types in our Help Center.
Is my data secure when I use Wave?
Our servers are protected physically and electronically. Any connections between you, your bank accounts, and Wave are protected by 256-bit SSL encryption. Wave is a PCI-DSS Level 1 Service Provider.
Do you provide customer support?
We provide different levels of support, depending on the plan and/or the add-on features you choose. Learn more about how Wave support works here.
Is it easy to cancel for any reason after I subscribe?
Yes, you can unsubscribe at any time! The cancellation of your subscription will take effect at the end of the billing period in which you cancel. Learn how to cancel your subscription in our Help Center.
