This guide outlines fees and timelines for Wave’s online payments feature. Learn how to set up online payments to start accepting payments directly on your invoices.
Online payments processing fees
Online payments processing timelines
How processing fees are calculated?
Payout processing cut-off times
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) |
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
Bank holidays may affect your payout timelines. Learn about Holiday bank closure payout schedules.
How processing fees are calculated?
- Online payment processing fees are calculated on an invoice-by-invoice basis.
- 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 payment types
You can select which payment types to accept. Learn how to do this in:
Payout processing cut-off times
- Customers can make payments at any time.
- Payments made before 8 p.m. Eastern Time will start processing the same business day.
- Payments made after 8 p.m. Eastern Time, on weekends, or on bank holidays will begin processing the next business day.
- Example: A payment made at 8:30 p.m. Eastern Time on Thursday will process on Friday morning (unless Friday is a bank holiday).
Check payout status
To check the status of a payout, go to Banking > Payouts.
If your payout is processing you will see the estimated payout date. If your payout is complete, you’ll see the day it was completed.
If you have questions about your payout, you can use Mave, Wave’s automated chatbot, by asking "Where is my payout?" Mave will assist you in gathering details and direct you to the appropriate support. For more information, see Get Support with Wave.