Holding Payouts

DKTDFWPrivateEduDKTDFWPrivateEdu Member Posts: 1

This is the worst small business accounting software I've encountered. I switched from FreshBooks thinking I could save some money but have the same features. I had a smaller invoice processed via CC just months ago and Wave did not withhold those funds. My payout was scheduled for today (as in I should've had my funds today) but to my surprise this morning, nothing was there.

  • I got an email from Wave after 5P EST yesterday stating they're either going to hold the funds for 120 days or refund them back to my client.
  • Why wouldn't you say something on the day the transaction was initially processed?
  • Why would you wait until the close of business the day before my funds should be deposited?
  • Why wouldn't you have the decency to call the small business owner and tell them this over the phone? That's what GOOD customer service is all about.
  • Why isn't there a support phone number on your website? You're holding people's money and processing CC payments. There needs to be a phone number for someone there. For this reason alone I'm filing with the BBB because that's insane.


  • AlexLAlexL Member Posts: 2,869 ✭✭✭

    Hey @DKTDFWPrivateEdu . Because the Support team handles the Community and it's the Account Management team that reviews your Payments account, you're best reaching out to them in the on-going correspondence that you have. I do see that your funds were refunded back to your customer so that you can accept their payment outside of Wave. If you do have any further questions, as I mentioned, feel free to reach back out to our Account Management team directly.

  • ESEELESEEL Member Posts: 1

    Hey AlexL, This move is still not justified, if your Account Management team views a payment that is higher than $5000 is high risk, then your development team can run a simple IF statement before creating an invoice to notify the USER that their payment wont be received until after 120 days. The USER can then make a decision to accept the payment or not.

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