How do automatic payments work?
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How do automatic payments work?
Automatic payments enable you to set up your recurring invoices to bill your customers automatically. A few simple clicks will ensure your repeat customers are notified and billed and you receive p...
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When a customer pays a recurring invoice with a credit card, and saves it, can they enable automatic payment?
Hey @maecus! Yep! There is a box they'd specifically need to check in addition to saving the card, in which they opt into automatic billing. The customer has to acknowledge that they want to be automatically billed this way just so our payment processing remains compliant with credit card regulations.
Thank you for this information! Where can I find the cost associated?
Hey @Joya ! In terms of what our payment processing fees are, taking a look at this section of our website for more details; https://www.waveapps.com/payments/ (for credit card processing, it's 2.9% + 30 cents a transaction and for bank payment processing, it's 1% with a minimum of $1.00).
Hi @JamieD , if I do bank payment processing, how does this work? The client pays manually?
@Joya kind of; if they pay with a bank payment (rather than credit card) then they can either 1) try to select their bank from a dropdown menu of supported banks; if their bank is supported, they just use their online banking login details to verify the transaction. However, if their bank isn't a part of our verified network, 2) they'll have to type in their bank account details manually to submit their bank payment for your invoice.
If a client cancels a monthly automatic payment that has been set up or their credit card expires and doesn't go through will I get a notification?
Hey @Kazza ! I've replied to the same question in another thread here; " https://community.waveapps.com/discussion/comment/15551#Comment_15551
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I'd like to get my clients permission to automatically charge their credit card each month. However, the amount will vary, so I'm not sure recurring invoices will work. And I'd like THEM to be the one that enters their credit card information online. Is this doable.
Hey @22Eighteen . For recurring invoices, we do have the ability to have your customer enter in their details and approve the payment, although this will not function with an amount that is changing as your customer will have to verify their details again when the change is made.
What you can do is have your customer add their details to automatic payments, which also saves their Credit Card information in Wave to their Customer profile. Moving forward, when you do need to change the amount, you can change it and reactivate automatic payments/charge them for a single invoice using their saved CC credentials.
Thanks, @AlexL. The solution you recommended sounds like it could work. How do I get them to add their CC info in their Customer Profile? I see how I can add it...but am not sure what to do in order to allow them to add it via browser themselves.
@22Eighteen When you send them a recurring invoice and turn on automatic payments, you'll see the option to sent your customer the prompt to add their credit card information for recurring purposes.
Additionally, when you send regular invoices and a customer pays by Credit Card, there's a check box under their CC details that they can tick if they want their details to be saved to their customer profile.
Can I set up automatic payments for clients using their bank account? Some prefer not to use their credit cards.
Hey @waving2you . We currently don't offer automatic payments with Bank Payments. At this time, the feature is only available with Credit Cards,
Why not? I have three clients who have to add their bank information manually every month and they're getting grouchy about it. Is this a planned improvement?
@jwillow No plans to implement this within the software in the near future. Because banking details require authorization from the user at the time they're inputted, we're unable to automate this process.
Is there any instructions somewhere that goes into more detail on if a customer wants to pay from their bank but their bank is not in the list?
When a customer (renter) is set up for automatic payment once each month, what time of day/night is the automatic payment drawn from their account?
Hey @dljordaneku! We do not currently have instructions for customers to reference. However, if they are typing their bank into the search bar and they do not see it listed, they should view an option in the drop down menu 'Can't find your bank? - Enter details'. If they click on this, they will be able to enter their information manually for payment instead of connecting through their bank.
Hey @JeffVB! If you have set up a recurring invoice, you can choose the timezone to ensure the customer will receive the invoice the morning of the payment. Depending on what timezone you have selected for the invoice (and where your customer is located) the payment could happen at anytime. If you have set the timezone where the customer is located then the payment should happen the morning of!
Are there any workarounds for automatic ACH payments?
We're looking to dump QBO but can't put ourselves in a position where this is not possible.
Hey @DtheGreek! There are no plans at present to support automatic ACH payments within Wave. I'm sorry for the inconvenience here!
I saw that. Do you know of a workaround ?
Is there a 3rd party add on I could use for those specific customers?
Could i keep those folks on QBO and import transactions monthly to wave??
Maybe the other way around. Could I use wave for invoicing and CC payments then download transactions to QBO?
@DtheGreek We have heard of other business owners having their customers' provide information like routing and account numbers so that the business owner may initiate the payment from their end by entering this information on each invoice to process the payment. However, as security and privacy are some of Wave's top priorities, we would advise against this method and strongly recommend either having the customer issue the bank payments from their end or use a credit card which has an authorization form for the automatic payments. We also do not support third-party integrations for processing payments in Wave.
For the QBO option, either method is available with Wave - just depends on what provides you with the best workflow!
For the first option, you can use something like our CSV uploader or our Google Sheets add-on, Wave Connect to do your transaction import.
For the second, you can do data export where you can download your transaction data!
Thanks Nicolette. I think i'm gonna use Wave for all non auto customers then QBO for auto ach customers & accounting especially since accountant is more comfortable with it.
HI @DtheGreek, that is understandable - glad you are able to find a workaround that best suits you. Also, thanks for keeping us updated on this. Our product team often uses the Community to track feedback on our current features, as well as submitted feature ideas. I am unsure if creating auto-payments for ACH payments is in our roadmap, but your feedback here will be much appreciated if we ever consider such a feature. Thanks again!
Hello! Will the automatic payments be taken on the date the invoice is created or the due date on the invoice?
Hi @Justin_R4C, that's a great question! If you have automatic payments set up, the payment will be charged to your customer on the date the invoice sends out. Basically, your customer's card is charged when the invoice is created and sent out to your customer.
Hello! What are the processing fees for recurring invoices with card on file? I know one-time manual transactions are $2.9% plus 30 cents but do recurring invoices have higher fees?
@SpineCare Nope! All Wave fees are consistent for Payments so the fee for a one-time payment is the same as a recurring payment
....., as security and privacy are some of Wave's top priorities, we would advise against this method and strongly recommend either having the customer issue the bank payments from their end or use a credit card which has an authorization form for the automatic payments. We also do not support third-party integrations for processing payments in Wave.
answers like this exhibit you as totally clueless in business. "having the customer issue the bank payments from their end or use a credit card " ???? the reason we want to do it by opurself is because if we wait for the customer to do it - we will need to chase him . can i your site to ask me to pay them the fee they charge and not just deduct it before they pay me ? no? why not ? they want to make sure they get payment ?? so now you understand why your answer is not a real option?