How long until I get paid?

SystemSystem Posts: 371 admin

imageHow long until I get paid?

IMPORTANT: Wave's Bank Payments service is currently available to businesses located in the US and Canada only.
"Here comes the money!" If it sometimes feels like "the check'scheque'...

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edited June 16, 2019 in Help Center Discussion


  • cerebralmarketingcerebralmarketing Member Posts: 1

    Good afternoon,

    I am new to getting paid via Wave and was just wondering how long it typically takes to see payments show up in your bank account? A client of mine recently paid me (two days ago) but for whatever reason, I have not seen it show up in my account. Is this normal?

  • cerebralmarketingcerebralmarketing Member Posts: 1

    Any assistance would be greatly appreciated as I want to ensure that I get paid promptly but also keep things simple and easy for my clients.

  • RahimRahim Member Posts: 97 ✭✭

    Hi @cerebralmarketing,

    Payments typically appear in your bank account within 2 business days as long as we have all the information needed to do so. You can always check on the status of these by navigating to Banking > Payouts in the navigation if you are using Wave Payments (within North America) or you can see the status of the payout through your Stripe dashboard if you are using Stripe for payments globally. If you think there's a problem with the payment, you can reach out directly to our support team for further assistance.

  • AbenjamindesignAbenjamindesign Member Posts: 1
    I don't understand the two+ day waiting period to receive any funds transactions. Zelle, Venmo etc are instantaneous. I got paid three days ago, no funds in my bank... not happy...
  • BarsinBarsin Administrator Posts: 1,811 admin

    Hey @Abenjamindesign

    Our banking partner runs on a fairly standard timeline for online payments. Below is a timeline for our different payment methods and when the funds will land in your account.

    1) Credit card payment: This process takes about 2 business days to process. The fee for this method of payment is 2.9% plus an additional 30 cents per transaction. So if you send an invoice for $100 Wave collects $3.2 total depositing $96.8 into your account. This is the faster transaction method.

    2) ACH Bank payment: This process takes about 4-7 business days to process. The fee for this method of payment is only 1% with a minimum fee of $1. So for example if you send an invoice for $100 Wave collects $1 depositing $99 into your account, however if you invoice someone for $10, Wave collects a minimum of $1, depositing $9 into your account.

    Took a look into your account, and it looked like your last transaction was a ACH bank payment.

    In regards to Venmo and Zelle instantaneous payouts. It's likely that they are operating on a cash up front loan model. We work with our bank partner to get funds delivered as quickly as possible while also ensuring that our users are not processing any risky transactions. Check out our website for a bit more info on this.

  • GfragosoGfragoso Member Posts: 0
    How long will it take for a credit card payment to show up in my bank account?
  • ZoeCZoeC Administrator Posts: 388 admin

    Hey @Gfragoso, thanks for reaching out! If you are processing payments directly through Wave, below is a timeline for our different payment methods and how much they cost:

    1) Credit card payment: This process takes about 2 business days to process. The fee for this method of payment is 2.9% plus an additional 30 cents per transaction. So if you send an invoice for $100 Wave collects $3.2 total depositing $96.8 into your account. This is the faster transaction method.

    2) ACH Bank payment: This process takes about 4-7 business days to process. The fee for this method of payment is only 1% with a minimum fee of $1. So for example if you send an invoice for $100 Wave collects $1 depositing $99 into your account, however if you invoice someone for $10, Wave collects a minimum of $1, depositing $9 into your account.

    Perks of Processing with Wave

    • all payment processing fully integrates with our free invoicing and accounting software
    • no additional fees (no subscription fee, no settlement fee, no cancellation fee)
    • no fees for refunds (all funds are returned to your client)
  • Whitney_farmer2019Whitney_farmer2019 Member Posts: 2
    Our customer paid 3 different invoices last week and paid by credit card. They paid last Friday and this is the Thursday of the following week and the payments funds still have not been deposited into our bank account from wave. Your support states that it only takes 2 business days for deposits if a customer pays via credit card. Please advise as soon as possible.

    Whitney Farmer
  • MikoMiko Member Posts: 1
    I been waiting 7 days ....still didn't recived my money ....this is silly...and this apps can't call any assistant ...
  • JamieDJamieD Administrator Posts: 1,145 admin

    Hey @Whitney_farmer2019. It looks like the funds have been paid out as of yesterday after you've communicated with our Accounts Management team, appreciate your patience there.

    @Miko Since your business is based in Australia, you are processing payments through our integration partner - Stripe. For any payout that is taking longer than expected, you will want to reach out to their support to find out exactly what's happening with the payment.

    For both of these cases, I do feel as though they required a bit of urgency so it's always best to either reach out to us over live chat (for our North American users) and file a support ticket for our Stripe users (AUS, NZ, etc). Just in case you need this for future reference:

  • Whitney_farmer2019Whitney_farmer2019 Member Posts: 2
    Can you explain how I can each live chat please? Since there is no support number to call.
  • JordanDJordanD Administrator, Moderator Posts: 515 admin

    Hi @Whitney_farmer2019! For businesses in North America, you can find the live chat option from within your Wave account at the bottom of the left side bar menu form 9am ET - 5pm ET Monday - Friday. Alternatively, feel free to send us an email, and our team will take a look as soon as possible. We definitely want to help get you some clarity on your specific payments! If you need the link to submit an email request, send me a DM on here, and I will be happy to send you the link!

  • 2Xclusiv3z2Xclusiv3z Member Posts: 1
    Been well over 2-5 days. Still no payment and Client wants refund please help
    edited September 16, 2019
  • AlexLAlexL Administrator Posts: 1,946 admin

    Hey @2Xclusiv3z . I sent you a DM to follow up on the next best steps for you here :smile:

  • TwillTwill Member Posts: 1
    Last payment was a credit card payment. I was charged the fee as such and you call 9 days expedited?
    Currently waiting on two ACH payments, 5 and 4 days.
    My beginning payments seemed to average around 4-5 business days and it seems to only be getting longer. I'm frustrated, and as my business often is paid in lump sums, may need to turn to a different solution.
  • AlexLAlexL Administrator Posts: 1,946 admin

    Hey @Twill . Just took a quick look at your account. It looks like your Credit Card payment arrived in 2 business days, as it was paid on Thursday and received on Monday. When it comes to Bank Payments, they can take up to 7 business days, although many of them arrive on much shorter timelines (sometimes as quick as 2 business days).

    In regards to payouts, we do pay out all of the money that is supposed to land in a single day together. It will always be paid out in a lump sum instead of separately, but you can further investigate how these lump sums break down by navigating to Banking > Payouts.

  • MtnStreamGroupMtnStreamGroup Member Posts: 1

    7 days is extreme especially when PayPal pays out next day or even same day (within 30 days). Furthermore, my bank tells me the ACH rules state 2-3 business days. So, during those extra 4-5 days you are earning interest holding my money, which I don't like especially when you are earning 1% service charge, which is more than ACH true PayPal or my bank.

  • TarasophiaTarasophia Member Posts: 0
    How long does it typically take for a payment by credit card to transfer to one’s linked bank account? Wave is telling me I’ve been paid, but I don’t see any other evidence of the credit.
  • AlexLAlexL Administrator Posts: 1,946 admin

    @MtnStreamGroup 7 days can definitely feel like a long time which is why we offer you the ability to turn off Bank Payments, and only accept Credit Card payments (which pay out in up to 2 business days). ACH rules between two banks may state 2-3 business days (I can't comment on this directly as we're not a bank), but when you involve a payment processor that is doing work between the banks, it can take longer. Even with this being said, the majority of our bank payments arrives in 2 business days. The last thing to comment on here would be that we don't use your money to earn interest on or invest. As soon as the money is available to you, it's yours.

  • EmmaPEmmaP Administrator Posts: 639 admin

    Hey @Tarasophia! If you have been approved for Payments by Wave, credit cards will process in 2 business days and Bank Payments will take 2-7 business days. When a customer pays by one of these methods the invoice will reflect as 'paid' immediately but the funds will still need to process. You can check under: Banking > Payouts in your Wave account for an expected delivery date for the deposit! Hope that helps and happy processing :)

  • 3G_gardeners3G_gardeners Member Posts: 1
    It is taking longer and longer for payments sent through wave, to show up in our bank account. We are not happy? This is making our payroll late over & over again. We are not happy!
  • mmayo_bottomlinebsmmayo_bottomlinebs Member Posts: 2

    Processed 4 payments in September without an issue and was very satisfied with the service. Processed 6 payments on October 5th and funds have not been deposited. Very dissatisfied with the service. Processed a payment on October 9th and I have received those funds. Very inconsistent when it comes to payment processing. I have sent and received several emails with the Account Management team This is asking for client information which is unacceptable. Have been asked the same questions over and over again with no resolution and have vendors to pay. Please advise on a resolution.

  • mmayo_bottomlinebsmmayo_bottomlinebs Member Posts: 2

    Why would payments after processing be put "on hold" if it is the same information that has been processed previously?

  • AlexLAlexL Administrator Posts: 1,946 admin

    Hi @3G_gardeners . Credit card transactions take up to 1-2 business days to hit while Bank Payments take 2-7. This means that a payment could take anywhere within these time windows. If a payment that you processed took longer than this, please let us know and we can take a further look at it for you.

    Hi @mmayo_bottomlinebs ! I see you've resolved this with the Account Management team. As I'm not apart of the team, I can't comment directly on when and why they request additional info on certain transactions, but if you do have any additional questions, this would be best taken up directly through your correspondence with them as they can provide you with more info.

  • sari36sari36 Member Posts: 1

    Hi, I sent an invoice to a client on October 25, 2019 and see that the client paid the same via a bank payment on the same day. On November 4, 2019, wave showed the expected date of transfer to my account as November 5, 2019. Here we are November 6, 2019, and now it shows that the transfer is on hold. I love using wave for bookkeeping purposes, but I won't ever use it again for payment processing. It's a shame because I love how easy it is to use, but I just can't wait that long to receive a payment, especially when there are other services out there that offer faster processing times. I am very disappointed. I'd also like a phone number so that I can talk to someone and not have to chat online, which I also can't do right now because it says they are offline. Cool.

  • AlexLAlexL Administrator Posts: 1,946 admin

    Hey @sari36 , thanks for reaching out! Looks like you were already in talks with our account management team and the funds should have arrived today.

    In general, Bank Payments can take up to 7 business days to land in your account, where as accepting credit card payments only takes up to 2 business days. Because Bank Payments can take so long, you do have the option to turn them off and accept only cc payments through Settings > Payouts.

  • AMPServices_16AMPServices_16 Member Posts: 2
    I am rather new to Wave and for the first time since using Wave a new client of mine decided to use the online bank payment option to pay their invoice. While I was not so happy to see the wait time on the funds reaching my bank account, I was somewhat excited that it made payment from my client easy and simple for them. Now after 7 days of waiting, I received an email from N Kirby with the Wave Account Managment team today 11/7/19, stating that upon reviewing my account, my business presents a higher risk then Wave can support. And will be unable to support payment processing for my business. As for my pending payment, the email states I will now have to wait 120 days for my funds to be released. This is absolutely ludicrous. There was no mention to me of any kind ever that my company was under any kind of review. The fact that my client made a simple bank to bank transaction should in NO way be held up by a third party bookkeeping app. And, since I paid a percentage processing fee of the total invoice to Wave, I should expect funds to be released to me in a simple and convenient manner. Also, I immediately upon reading the received email, replied, asking that someone contact me ASAP by phone to discuss this matter. To which I have gotten no response. My client has confirmed that the funds have left there account which means the funds should be in my account. I need someone to help me resolve this matter and get my payment released to me immediately. Thanks.
  • AlexLAlexL Administrator Posts: 1,946 admin

    Hey @AMPServices_16 . Followed up with our Account Management team and they let me know that they've reached out to you via phone about the funds.

    edited November 13, 2019
  • AMPServices_16AMPServices_16 Member Posts: 2

    Thanks for responding AlexL, however Im afraid no one has reached out to me via phone. Can you please provide me with a contact phone number for the Account Management team?

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