Complete direct deposit application

Effortlessly and securely pay you and your employees with direct deposit at no extra cost. Learn how to set up and manage direct deposit for payroll.

Wave Payroll is currently only available in North America. 

Before setting up direct deposit with Wave, the following payroll setup tasks should be completed: add employee(s) or contractor(s), enter business details and add your company signatory.

Step 1: Add a bank account that will be used to fund your payroll

  1. Under Payroll, click Run Payroll
  2. Click Payroll Setup
  3. Under Business, locate Funding Account
  4. Click Add Account
  5. Select a bank from the list, or search for your bank to connect directly. If you can’t find your bank by searching, select “Can’t find your bank?” to enter your account details manually.
  6. Once you have connected your desired funding account or added bank details manually, return to Payroll Setup for the next step.

 

Step 2: Authorize direct deposit

You will need to complete the following application to authorize Wave to fund your payroll directly from your bank account.

  1. Under Payroll, click Run Payroll
  2. Click Payroll Setup
  3. Under Under Simplify your payroll, locate direct deposit
  4. Click Authorize

Have your company signatory ID and information ready
You’ll be asked to scan a piece of photo ID, like your drivers’ license, or answer a series of questions only you would know the answer to. You will have 3 minutes to answer the questions asked, so try to do this as quickly and accurately as possible without leaving the page.

Once submitted, your direct deposit application will be reviewed in 2-3 days. You will hear from us at the email address you used to sign up for Wave.

Did you know? Employees can enter and manage their own bank details if you invite them to Wave. When you add a new employee to Wave, select the option to have them onboard and enter their own information. Find out more in our Employee Self Onboarding guide.

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