I am brand new to wave, but my business is not brand new. I offer a service and before wave, would collect payments via venmo from clients. My business mentor, who is in the same industry and who mentors hundreds of others starting up in this industry, recommended wave to me. Within the first full day of taking payments through wave, I collected about $1000 and shortly after I received an email from the Wave Account Management team Thursday April 9, 2020, 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. THe reasoning behind this that was provided to me within this email states: "A number of factors are considered during our evaluation, including the type of business, how long you have been in business, the performance of your account, and prior financial history." I had ZERO chargebacks or refunds, and never have. I provided wave with my past transactions prior to wave to aid in the re-evaluation process, just like they asked. They stated that if this payment processing history is healthy and demonstrated minimal chargeback volumes, the decision could be altered. I have NEVER HAD A CHARGEBACK. As for my pending payments, the email states I will now have to wait 120 days for my funds to be released, dependent upon any disputes or chargebacks they receive in that time. This is absolutely ridiculous in every single way. There was no mention to me of any kind ever that my company was under any kind of review. 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. I responded to this email very confused and with the transaction history they asked for, to which I received an additional automated message asking if I would like my funds to be returned to customers or held for 120 days. I asked to be contacted by phone. To which I have gotten no response. I pay wave a processing fee for them to deposit these funds into my account, not to hold them for 4 months. I have recurring payments that will take place over the next few months. This is my livelihood that is being kept from me.
Hey @Chyanne! Thanks for reaching out here - I've moved your comment into its own thread within the Sales & Invoicing portion of our Community. Just following up to let you know that I've noticed you've been in touch with our Account Management team further since this post, and I'm really glad you guys could find a solution together! We appreciate you joining the Community to bring this to our attention, and wish you the best
Wave payment setup, never allowed me past page 2. Invoice was sent to client. They received service, paid with cc via link invoice July 31, 2020. Rec'd message today. August 20, 2020 that client being refunded. No one can figure it out.
Invoice and payment not linked via wave. Lesson learned.
My apologies you're experiencing an issue with your Wave payments setup. I understand that this might be frustrating but I do see you have an open ticket with the support team. I can assure you that going through support would be the best method for getting this resolved. My apologies for the delay on this, and thanks for cooperation.
Hi @Ron_f1687 , I see that your issue has been dealt with via tickets, so you should be all set. In general, if there are issues with Wave Payments, please submit Support tickets so that a dedicated agent can investigate your account with you. Thanks so much!
Followed system set up, sent invoice, then complete payment setup. Please do not. Services received, invoiced send. Wave assistance complete also. Setup never completed. Clients refunded. Institution kept banks fees. Tired three different devices.
Hi @Jewel_w2w , I'm sorry to hear about the trouble you've had getting your payment account set up. For legal reasons, we have to refund any pending payments back to your customer after 21 business days if you haven't yet setup your account as we can't deposit it into your bank account.
When refunding payments, we never keep the processing fees. The processes fees that we collect go right back to your customer so that they're refunded the entire amount that they originally paid. If you'd like to reach out to our team over live chat, one of our agents would be more than happy to help you set up your account!
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I am brand new to wave, but my business is not brand new. I offer a service and before wave, would collect payments via venmo from clients. My business mentor, who is in the same industry and who mentors hundreds of others starting up in this industry, recommended wave to me. Within the first full day of taking payments through wave, I collected about $1000 and shortly after I received an email from the Wave Account Management team Thursday April 9, 2020, 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. THe reasoning behind this that was provided to me within this email states: "A number of factors are considered during our evaluation, including the type of business, how long you have been in business, the performance of your account, and prior financial history." I had ZERO chargebacks or refunds, and never have. I provided wave with my past transactions prior to wave to aid in the re-evaluation process, just like they asked. They stated that if this payment processing history is healthy and demonstrated minimal chargeback volumes, the decision could be altered. I have NEVER HAD A CHARGEBACK. As for my pending payments, the email states I will now have to wait 120 days for my funds to be released, dependent upon any disputes or chargebacks they receive in that time. This is absolutely ridiculous in every single way. There was no mention to me of any kind ever that my company was under any kind of review. 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. I responded to this email very confused and with the transaction history they asked for, to which I received an additional automated message asking if I would like my funds to be returned to customers or held for 120 days. I asked to be contacted by phone. To which I have gotten no response. I pay wave a processing fee for them to deposit these funds into my account, not to hold them for 4 months. I have recurring payments that will take place over the next few months. This is my livelihood that is being kept from me.
Hey @Chyanne! Thanks for reaching out here - I've moved your comment into its own thread within the Sales & Invoicing portion of our Community. Just following up to let you know that I've noticed you've been in touch with our Account Management team further since this post, and I'm really glad you guys could find a solution together! We appreciate you joining the Community to bring this to our attention, and wish you the best
Wave payment setup, never allowed me past page 2. Invoice was sent to client. They received service, paid with cc via link invoice July 31, 2020. Rec'd message today. August 20, 2020 that client being refunded. No one can figure it out.
Invoice and payment not linked via wave. Lesson learned.
Hey there @Jewel_w2w
My apologies you're experiencing an issue with your Wave payments setup. I understand that this might be frustrating but I do see you have an open ticket with the support team. I can assure you that going through support would be the best method for getting this resolved. My apologies for the delay on this, and thanks for cooperation.
Hi @Ron_f1687 , I see that your issue has been dealt with via tickets, so you should be all set. In general, if there are issues with Wave Payments, please submit Support tickets so that a dedicated agent can investigate your account with you. Thanks so much!
Followed system set up, sent invoice, then complete payment setup. Please do not. Services received, invoiced send. Wave assistance complete also. Setup never completed. Clients refunded. Institution kept banks fees. Tired three different devices.
Hi @Jewel_w2w , I'm sorry to hear about the trouble you've had getting your payment account set up. For legal reasons, we have to refund any pending payments back to your customer after 21 business days if you haven't yet setup your account as we can't deposit it into your bank account.
When refunding payments, we never keep the processing fees. The processes fees that we collect go right back to your customer so that they're refunded the entire amount that they originally paid. If you'd like to reach out to our team over live chat, one of our agents would be more than happy to help you set up your account!