Is there a maximum fee for ACH bank transfers?

kendallwatsonkendallwatson Member Posts: 3

I've noticed all descriptions written by Wave Apps outlines the $100 example -- if you invoice $100 we take 1% of your invoice, and will charge you a $1 fee. But what about larger transactions that are 5, 10, 15k in size? Most platforms have a maximum ACH fee of $10, and I want to confirm this before allowing someone to pay my $10k invoice and I lose $100 in ACH fees.

Really hoping there is a max, as this platform has everything I need but I won't use it if I am forced lose that much money in fees. Quickbooks and countless others cap at $10 per ACH.


  • JulianPJulianP Member Posts: 1,002 ✭✭✭

    Hey @kendallwatson !

    As you mentioned, the fee for ACH bank payments is only 1% with a minimum fee of $1. This applies to all payment amounts.

  • kendallwatsonkendallwatson Member Posts: 3
    @julianP so there is not maximum fee? Most platforms cap this fee at $10... if I am processing a payment of $15,000 (which is often), I’m hit with a fee of $150?
  • JulianPJulianP Member Posts: 1,002 ✭✭✭

    Hey @kendallwatson !

    Sorry if my previous message wasn't clear. That's right. The same processing fees are applied to all payment amounts and there is no maximum at this time. I apologize for the inconvenience.

  • OrchardOrchard Member Posts: 2

    I would encourage Wave to reconsider their position on ACH fees. Similar to the original poster, I collect large payment amounts. For a small fee per payment (e.g., $10), I would be willing to accept ACH payments from my customers. But 1% of large payment amounts really adds up so it's a non-starter for me. If Wave would cap the ACH fee to something reasonable, I'm guessing it would end up being a net revenue boost to the company because the volume of ACH payments would increase materially.

  • kendallwatsonkendallwatson Member Posts: 3

    @JulianP @Orchard I second that. My transactions although simple, are very bulky. I cannot justify 1% of all of my transactions, and honestly haven't seen this be an uncapped number. I have found ways around it because I refuse to pay it, although you capping it at $10 so I could process straight through Wave would make my life so much easier. I cannot justify $1,000+ in ACH fees per month!

  • PetrushkaPetrushka Member Posts: 1

    I third that!

  • frdesignfrdesign Member Posts: 1

    agreed, considering the multitude of other payment option that cap ACH fees it is impossible to justify using wave invoices for that, which would be preferable as it would then be a one stop shop. If you capped ACH we would definitely use your invoicing service.

  • JayTJayT Member Posts: 1
    I agree that not capping this amount makes this impractical for me. I guess this is the downside to choosing an otherwise free accounting tool.
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