Learn how to set up Wave Payments to start accepting payments directly on your invoices.
Wave Payments processing fees
|Visa, Mastercard, Discover*||2.9% + 60 cents|
|American Express||3.4% + 60 cents|
|Bank payment (ACH)||1% (minimum $1 fee)|
Wave Payments processing timelines
|Businesses based in the United States|
|Credit cards||2 business days|
|Bank payment (ACH)||2-7 business days|
|Businesses based in Canada|
|Credit cards||1 business day|
|Bank payment (ACH)||1-6 business days|
Bank holidays can affect your payout timelines. Learn about Holiday bank closure payout schedules.
How are processing fees calculated?
When you accept credit card payments, your customers can use Apple Pay or enter their card details manually.
You can control which payment type you want to accept from your customers by following the steps in How do I turn off bank payments?
Payout processing cut-off times
Your customers can make payments at any time. Payments made before 8 p.m. Eastern Time will begin processing that business day. If your customer makes a payment after 8 p.m. Eastern Time, on a weekend, or on a bank holiday, your payout will start processing the next business day. For example, if a customer makes an invoice payment at 8:30 p.m. Eastern Time on a Thursday, the payout will begin processing on Friday morning (as long as Friday is not a bank holiday).
To view the status of a payout, head to Banking > Payouts. Here you can see if your payout is still processing, along with an estimated payout date, or if it has already been completed.
If you have more questions about your payout and when it will arrive, click the chat icon at the bottom right, and type “Where is my payout?”. Wave’s chatbot, Mave, will assist you in getting further information, and with reaching out to the Support Team if necessary.
Learn how Wave Payments makes bookkeeping easier by fully integrated with your accounting in Wave!