To apply for direct deposit, you must first add an employee or contractor, complete your business profile, set your pay schedule, add a company signatory, and connect a funding account. Learn how to complete these steps in Set up payroll in Wave.
Wave requires business and company signatory details to meet legal obligations for moving money. This is an industry-standard obligation and ensures Wave’s services and partners are secure while combating fraud and money laundering.
Complete the direct deposit application to authorize Wave to fund your payroll directly from your bank account.
- Log into your account at waveapps.com.
- On the left-side menu, click Payroll > Run Payroll.
- Click Payroll Setup.
- Under Simplify your payroll, next to Effortlessly pay your team with direct deposit, click Authorize.
- Upload your photo ID. To take a photo, Wave opens your camera to allow you to take the picture. To upload an existing image, click Choose file and select a photo.
- Click Continue to upload.
- Answer the questions asked. You will have 3 minutes to answer the application questions without leaving the page.
- Review and agree to Wave’s Payroll Terms of Service.
It can take up to 6 business days to review your application once it’s been submitted. Wave will notify you via email of the status of your application.
Canadian business owners approved for direct deposit will automatically join Wave’s tax service feature. Learn more about Canadian tax services in Payroll tax services in Canada. US business owners who want Wave to complete tax payments and filings must complete a tax service application. To see what states are supported in Wave, read Payroll tax payments and filings.
To run payroll before your review is complete, approve your payroll and pay by check. To learn how to pay by check, see Pay your employees on time.
View more frequently asked questions about direct deposit in Direct deposit with Wave.