Wave Reviews 203

This once used to be good but then they took away the bank reconciliation and then in a really crazy move they removed customer support.
It's now useless and I've migrated to Coconut.

I had been using waves apps for almost a year and for the most part everything was great up to this last week where I picked up the biggest side job I've ever done my customer deposited $11,500 on Friday money was supposed to be made available on Monday I received the email on Tuesday advising me that they need further documentation for me as in a estimate contact information for the person I was providing the service for and so on which I did I then received an email on Wednesday and letting me know that I can no longer use credit cards on my wave app account now I'm potentially going to lose this job and the 29 others I was supposed to receive from the same building don't waste your time there customer service is non-existent they're horrible at communicating and just plain out rude. If the option was to give them no stars I would

You'd be better off collecting cash payments for your online business as with wave you may never see your funds again. Their support is completely unhelpful and blames everything on their 'risk' team, giving no visibility into the issue. Almost certain that this business is a scam and I urge anyone reading this to explore any and all other options for online payment solutions before working with Wave.

Wave turns on "automatic payment" option as a scam to collect money and hold on to it for 2+ months.

When a customer paid my invoice through Wave I did not receive the funds. They made no attempt to contact me. When I reached out to them via chat they sent me the following statement:

"We're reaching out to let you know we have reviewed your account, and unfortunately are unable to continue providing payment processing services for your business." With no further explanation.

I am a US based Sol Proprietor with over 10 years in operation.

Their email continues:

"Bank payments will be held for 65 days. If it has not returned in that amount of time it will be refunded back to the account holder. If they require the funds sooner, they will need to initiate a return from their bank directly."

What this means is that Wave gets to hold on to my clients money for 65 Days? And its MY responsibility to contact my client and tell them to cancel the payment through their bank?

Absolutely reprehensible.

Wave should warn their customers upfront before enabling the automatic payment option and should be responsible for directly refunding payments within a reasonable time - not months.

Serious security flaw with this app: you sign up to connect your business bank account to the app, but it insists on connecting and "having access to" ALL other accounts you may have at that bank -- mortgage, car loan, unrelated business, etc. You would think a Canadian firm would be a little more attuned to privacy than that. Wave, it is a great app, but FIX THE SECURITY AND PRIVACY ISSUES. You have NO business accessing any account other than the one we authorize. Oh yes -- and there is NO ONE at Wave to contact about it by any means.

I've only used them once, to send an invoice to a client. They want ALL of my banking info, including my online banking name and PASSWORD!!! Not going to happen. Their website gave the impression I could simply get a Paypal payment through them, but this was not the case.

Wave support is worse than terrible. We are a paid payroll customer and speaking to a human being is not an option. Their primary support is a crappy chatbot that if you're lucky will sometimes get you to a less than helpful human chat. I have tried multiple times to get help with a payroll issue only to have the chat suddenly disconnect with a bogus message "looks like you have left the chat". So frustrating. There is zero phone support and no possibility to speak to a real human being. This totally inadequate support now has us actively seeking an alternative accounting and payroll solution. Wave is cheap but you get what you pay for in this case. My advice to anyone thinking of using Wave accounting is DON'T. If you ever need support you'll likely be very disappointed and regret ever having dealt with Wave.
Stay Away.

We ran our first invoice payment thru Wave which was blocked by their Risk & Compliance team for over 65 days; the funds still have not been returned to the sender. As a start up company, this has really hurt our business. I recommend you do not use the payment service; terrible experience for us

Very good firm, got my payments on time , no limits. Thanks

Excellent website, easy to use , friendly customer support, just received my first payment of 17000$ very efficient

I had originally switched from Freshbooks to Waveapp. It was going ok, but when I had a client dispute a charge, the Waveapp team (Krista G) was no help in disputing the charges. I had pictures of the service provided and emails from the client stating they loved the items. I had refunded part of the original payment because the client ended up having less work done than they had originally thought they'd need. Waveapp ended up refunding the original amount, so I was now negative cash and basically donated my time and materials.

The tone Krista spoke to me in was ridiculous. I would never use this service again, as when you would hope they would have your back, they didn't, nor did they seem to care to fight the banks on your behalf.

The free version of app can help you manager your small business. I didn't use their payment options, so I can say nothing about that. The app is good for invoicing and accounting.

After a few years of using Wave successfully I they have started holding my money and not releasing it. They have $28,000 worth of paid invoice money which they have not released. No communication as to why, and no communication as to when it will be released. We are a super small operation working on super thin margins and they are hurting us so badly right now. They are clearly in financial trouble. Do Not use this company for any reason!! Stop running your invoices through these people. They are committing fraud!!! We need a class action suit against them. They are actively deleting posts from their social media.... this place is a sinking ship!! Stay away!

I AM AFRAID THEY WILL DELETE MY ACCOUNT AND DELETE ALL OF MY ACCOUNTING HISTORY AS I WRITE THIS BUT YOU MUST BE WARNED. I SOLD THOUSANDS OF DOLLARS OF EQUIPMENT TO A CUSTOMER. WAVEAPPS SAID "USE OUR EASY PAYMENT SYSTEM TO INVOICE THE CUSTOMER". I HAVE JP MORGAN CHASE VERIFIED BUSINESS ACCOUNTS AND HAVE BEEN IN BUSINESS FOR MORE THAN TEN YEARS ON SOME OF THEM. WAVE ACCEPTED THE MONEY FROM THE CUSTOMER AND THEN REFUSED TO ACCEPT MY BANK ACCOUNTS AS VIABLE DESTINATIONS. AFTER MONTHS THEY STILL SHOW THE PAYMENT IN MY ACCOUNTING SYSTEM AND WILL NOT REMOVE IT BUT HAVE NOT REFUNDED MY CUSTOMER. IF THEY HAD REFUNDED THE MONEY THEN IT WOULDN'T SHOW IT IN THE ACCOUNTING SYSTEM. IT LOOKS LIKE THEY ARE COMMITTING BANKING FRAUD, THE BBB SHOWS MANY SIMILAR COMPLAINTS. I CAN'T BELIEVE THE FBI ISN'T INVOLVED. I CALLED CHASE AND FOUND OUT THAT WAVEAPPS LIED ABOUT THE REFUND PERIOD AS WELL. THEY CLAIMED A 65-DAY WAIT ON ACH AND JP MORGAN CHASE TOLD ME 1-2 BUSINESS DAYS IS NORMAL WITHIN THE ENTIRE INDUSTRY.

STAY AWAY. I used them for years for simple accounting and decided to use them for payroll two years ago. I've gotten IRS notices twice about them messing up my quarterly payroll tax returns and now IRS is assessing levy due to them not filing properly. You cannot get them to respond, their chat bot is a joke and when i repeatedly emailed them they keep saying they are busy with year end reporting. This has been going on for months. So angry. Making the switch to Quickbooks immediately

I've been with Wave for about 7 years. I really like using them for payment processing and sending invoices. I love how easy it is to send an invoice from my phone when I am on the go. I also use some of their accounting software. Now that I am established with them and never have had any chargebacks it's been great! They don't make me jump through hoops anymore. It really has been smooth sailing for years. But it was a different story when I first started using them. They were always holding funds and investigating charges and requesting more documentation and making me explain the orders. They would question larger charges and interrogate me about what the customer purchased. It was extremely frustrating and embarrassing when they would hold up customer's funds leaving me in limbo not knowing if Wave would release the funds. They made me look unprofessional when they would hold up funds and make me have to explain to my customers that my processor didn't trust the transaction. WAVE seemed very suspicious of everything. Now they let me be and do my business. Everything has been running smoothly for years. I haven't had any problems with customer service. They always get back to me and check back to see if my problem has been resolved. If they don't know the answer they will research it. I'd say, if you can make it through the first stages with them until your account is established and don't get chargebacks you will probably have a very good experience. I will admit they were truly aggravating the first year.

WAVE ACCOUNTING:

LinkedIn: Wave Accounting
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Title your review
**Warning!!!** Wave accounting
Pros: What did you like most about this software?

At first glance it seems like a good choice, however, this is a lie!
68/40 min
Cons: What did you like least about this software?

1) No disclosure on fee's, bank setup, time tables for transactions and more. You have to jump through many hoops just to get things setup. Then at the click of a button they can wipe out your transactions, banking, deposits, or anything else they want just to keep your money. Not to mention the fees are outrageous!
318/40 min
Describe your overall experience with Wave Accounting(Optional)
I have had numerous people at this company directly lie to me about things being resolved including a phone call from someone who was supposed to be in upper management who told me that he took care of things. This was after setting up my banking only to have it wiped out and then jump through hoops again to get it reconnected. Next, having to jump through more hoops to be able to actually transfer deposits to my bank. Then after doing that and assured my deposits would be available they suspended the account and I had to reverify information that was not only irrelevant to any security or banking issues but waisted another day causing me to ;lose my biggest client. Then after screaming at the agent for nearly a half a day on there chat system demanding someone actually call me, this is when the "management" person called and after a lengthy conversation said it was done and stated that the bank transfer was done and he guaranteed me it would be available in my account in a few hours! After waiting I called the bank and they had no record of any such transaction pending or otherwise! Of course at this point they would not call me back or answer messages or email. SO LISTEN CAREFULLY, WAVE IS A SCAM TO GET YOUR MONEY!!! I am currently filing suit and reporting to consumer fraud, and any other outlet I can to stop them from scamming others! My lawyer is currently looking to a potential lawsuit as well!

We’ve used this service since early 2021. At first, their customer support was very responsive but there was and still isn’t any phone support. After using their services without issue for months, we got a two chargebacks. One was more of a mistake and the customer acknowledged this but the chargeback could not be reversed but we simply refunded the money.

The next chargeback was by a customer who simply used our services for about 6 weeks and abruptly chose to end using the services despite our repeated attempts to assist him. We provided documentation of our providing services as promised, as well as proof of the terms of service the customer agreed to. The chargeback is now in dispute.

Since our business expenses are paid by revenue received, this chargeback has put our bank account into overdraft. As such, Wave couldn’t get back the money needed for the chargeback. After this we continued to receive payments which were much greater the what was needed to cover the chargeback, but Wave has put the vast majority of these funds on hold. So we can’t cover the overdraft caused by their debiting our account when the balance was insufficient, and we can’t pay our overhead because they are holding funds.

We’ve repeatedly attempted to resolve this issue, but Wave support is now going in circles and never giving us a clear idea of what’s going on. They’ve been horrible in communications with us and we have not idea how to fix the issue. In addition, they keep moving our account into “review” but they still accept payments. This makes no sense as they are taking payments but refusing to allow us to use the funds.

Our strong advice is not to use them.

Just a warning for those who are signing up for wave.

This company is a scam. I signed up for wave accounting and received payment from a customer. The next day wave decided to cancel online payment processing on my account and wouldn’t tell me why. They are not transferring the funds back to the customer or to me. What a sleazy way to steal from small businesses!

I started with WAVE because I can't find a decent bookkeeper and their platform is easier to use than Quickbooks. Everything was working great until October 7th when I noticed my bank connection wasn't working and won't import transactions. Wave's chat bot said Plaid won't connect to my bank. The chat bot repeatedly says to check back in a few days, but I have tried numerous times to re-establish the connection to no avail. I was wanting to upgrade to use their payroll feature, but after finally connecting with an advisor under the guise of wanting to purchase that service, which is the ONLY way you can get a live person, I was told it may be over a month before Wave/Plaid will connect with my bank and that my only option is manually importing transactions via csv. I think it's horrible that they don't have any control over Plaid and they don't have a live support for ALL users. I HATE Quickbooks, but I may have no choice but to go back to it. The advisor I spoke with today was very nice and sympathetic, and he said he would send a ticket over, but that he didn't think support would be able to help me with my bank connection issue. Very disappointed in this product and upset that I have wasted so much time.