Holiday bank closures impact timelines for receiving payments from Wave. Below, we’ve listed the holidays that will affect those timelines in Canada and the United States so you can plan ahead.
Why can’t I get paid on holidays?
Wave can only deposit funds into your bank account on business days. If your Wave Payments account is active, credit card transactions normally post within two business days. Since the holidays below are not considered business days, instructions sent to your bank will not be posted until the banks have re-opened.
As an example of how this would affect you, let's say you were expecting a transaction to be deposited on Labour Day, which falls on a Monday:
If the transaction was processed before 5pm on Thursday, it would deposit on Tuesday.
If it was processed before 5pm on Friday, it would deposit on Wednesday.