Mastercard fee
goldheart2
Member Posts: 1
Charged the Mastercard of one of my customers and a fee was deducted?? not sure if this is a Mastercard or Wave fee. Also paid the fee for instant payout so know its not that
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goldheart2
Member Posts: 1
Charged the Mastercard of one of my customers and a fee was deducted?? not sure if this is a Mastercard or Wave fee. Also paid the fee for instant payout so know its not that
Comments
Hey there @goldheart2 !
To clarify, each invoice payment method has different processing fees. I'll break them down for you below:
1) Credit card payment: This process takes 1-2 business days to process. The fee for this method of payment is 2.9% plus an additional 30 cents per transaction. So if you send an invoice for $100 Wave collects $3.20 total depositing $96.80 into your account. This is the faster transaction method.
2) ACH Bank payment: This process takes 2-7 business days to process. The fee for this method of payment is only 1% with a minimum fee of $1. So for example if you send an invoice for $100 Wave collects $1 depositing $99 into your account, however if you invoice someone for $10, Wave collects a minimum of $1, depositing $9 into your account.
3) AMEX payment: This process takes 1-2 business days to process. The fee for this method of payment is 3.4% plus an additional 30 cents per transaction. So if you send an invoice for $100 Wave collects $3.70 total depositing $96.30 into your account, similar to a standard credit card payment.
You can learn more about our payment processing fees on our website here.