Payment methods

Tracez

Hi! Nice to see this thriving community. Maybe this isn't the best feed to post a question in. I signed up for the Wave Community when searching high and low for the option for customers to pay by PayPal. Is this doable? I integrated my PayPal account. Thanks and have a great day!

ZoeC

Hey @Tracez, thanks for reaching out! So glad to hear that you are enjoying The Community!

I'm afraid it is not possible to receive payments to a PayPal account, if you are receiving payments by Wave, those funds must be deposited to a bank account associated to a financial institution.

Tracez

Thanks for the info! I used the payment option on Wave (credit cards). How long does it take for the payment to show up in the bank?

JordanD

@Tracez if you use Payments by Wave, Credit card payments will take 2 business days (the fee is 2.9% +30c per transaction) and Bank Payments will take between 2-7 business days (the fee is 1% with a minimum of $1).

Tracez

For bank payments, is this simple for the client to use, just like sending me an etransfer? I was sent an etransfer and deposited it and will now have to post it later. When with bank payments and credit cards, does it deposit and get posted through your system?

Myron

@Tracez , payments made through Payments by Wave are paid out to a deposit account that you specify during the initial on-boarding process. To make things even easier, Payments by Wave automates the accounting for invoice payments as well! To learn more about how Payments by Wave does this, I'd recommend reading this Help Centre article: https://support.waveapps.com/hc/en-us/articles/115004964423-Bookkeeping-changes-to-Payments-by-Wave