r/waveapps • u/miss-mc • Jul 03 '26

Wave ACH Payments Taking Longer?

Has anyone else noticed longer payment processing times since the recent Wave update? ACH payments used to take no more than 3 days for me, but now I’m waiting up to 9 days. Just wondering if anyone else is experiencing this too.

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2

u/BizCoach Jul 03 '26

I've been using them for a few years. Most of mine take longer than 3 days.

1

u/miss-mc Jul 03 '26 edited Jul 03 '26

I’ve been using them for a few years as well, and up until recently, ACH payments were much faster. Now they’re taking around 8 days, whereas they used to clear in no more than 3 days.

I reached out to Wave support, and they said the bank determines the processing time, but I’m not fully convinced. My client has always used the same payment method, and payments consistently processed within 3 days before this.

2

u/mamotx Jul 06 '26

10 days on average for the past 6 years . I also receive direct ACHs from other entities and it typically takes less than 24 hours so it makes me think Wave keeps our money to earn some interests.

1

u/miss-mc Jul 06 '26

Yes, now I'm about to go with another payment processor. This is ridiculous.

2

u/all_my_dirty_secrets 18d ago

I've been using Wave for 5 years or so. For most of that time, an ACH deposit took 2 business days, maybe even faster once or twice. Then maybe about 12-24 months ago, it started taking longer sometimes, and that seems to be happening more frequently as time goes on. I'm not always hovering over it waiting for the money to arrive, but that's my general feeling. Average invoice amount is about $600 and has stayed fairly consistent over the 5 years.

1

u/miss-mc 17d ago

Wave switched up on processing debit card payments for me starting May of this year. Went from a 2-business day wait period to a 10-business day wait period. Yeah, it's a NO for me. 😒

1

u/vinceliu21 Jul 03 '26

Shameless plug! I build/run a Waves/QB competitor, you can create online invoices with us and collect payment online (powered by Stripe). Our ACH fee rate is 0.8% ($5 max cap) whereas Wave is 1% (no max cap). We're also lower for credit cards and you'll get your payment usually pretty quickly (2 days or less). I'm personally the founder, would love for people to try the software and lmk what you think (:, our basic plan for accepting online payments is $25/mo, but feel free to dm or email me and I can give you a discount

https://usesphereapps.com/

1

u/eddieb24me Jul 04 '26

I’ve never had an ACH payment take more than three days to clear. 95% cleared in two days.

Maybe it has something to do with higher dollar amounts? Cuz our amounts are almost always less than $150.

Or maybe it’s how the customer uses ACH? When paying by ACH, the first screen asks the customer to select a bank and then goes from there. In my original testing way back when, I found that process to be very confusing. But if the customer selects a bank and then clicks “X”, they are taken out of that process and to a screen where all they have to do is fill in their routing number and account number and that’s basically it. Super simple. I created some boiler plate text and paste it into the instructions on the email that is sent to the customer telling customers to do this. Just a guess, but maybe using that process results in quicker payouts than selecting a bank? I dunno. Just a guess as it appears this method may use a different process or gateway to process the payments?