Online payments processing fees and timelines

Payments Basics

This guide outlines fees and processing timelines for Wave’s online payments feature. Learn how to set up online payments to start accepting payments directly on your invoices.

How processing fees are calculated

Online payments processing fees

Online payments processing timelines

Payout processing cut-off times

How processing fees are calculated

Online payment processing fees are calculated on an invoice-by-invoice basis. Calculations are based on the different payment types, associated fees and the impact of instant payout options. Wave automatically transfers received payments to your bank account, deducting processing fees.

Credit card processing fees and deposit timelines depend on the card type and remain consistent, regardless of how customers enter their payment details.

Choosing accepted payment types

You can select which payment types to accept on your invoices. Learn how to choose accepted payment methods for a single invoice or change the default payment settings for all invoices

Online payments processing fees

Fee structure
	Starter Plan	Pro Plan
Visa, Mastercard, Discover*	2.9% + $0.60	2.9% + $0**
American Express	3.4% + $0.60	3.4% + $0**
Bank payment (ACH)	1% (minimum $1 fee)	1% (minimum $1 fee)

*Discover Card processing is only available to businesses in the United States. Visa, Mastercard, American Express and bank payments are available in both the United States and Canada.

**Businesses active on Wave's Pro Plan get a discounted fee for the first 10 transactions per month. Additional transactions are processed at 2.9% + $0.60 (Visa, Mastercard, Discover) or 3.4% + $0.60 (American Express) each.

Online payment processing timelines

For businesses in the United States:

Credit Cards: 2 business days
Bank Payment (ACH): 2-7 business days

For businesses in Canada:

Credit Cards: 1 business day
Bank Payment (ACH): 1-6 business days

The payment processing timelines cannot be expedited.

Bank holidays may affect your payout timelines. Learn about Holiday bank closure payout schedules.

Payout processing cut-off times

Customers can make payments at any time.
Payments made before 8:00 PM Eastern will start processing the same business day.
Payments made after 8:00 PM Eastern, on weekends, or on bank holidays will begin processing the next business day.

Example: A payment made at 8:30 PM Eastern on Thursday will be processed on Friday morning (unless Friday is a bank holiday).

Learn how to view your payouts to know when your payment will be transferred to your bank account.