Stripe Invoicing vs Wave 2026: Invoice Fees Compared

Wave Starter is the better fit for a small US business that wants invoicing and basic bookkeeping without a monthly subscription. Stripe Invoicing suits a business that needs a configurable payment and invoice workflow. The cheaper card fee depends on invoice size: at 100 one-time $100 domestic card payments, the public rates produce $350 for Wave Starter and $360 for Stripe Invoicing Starter.

These are US list-price examples, checked October 28, 2026, not quotes. They assume approved accounts, one payment per invoice and no international card, currency conversion, dispute, tax or other optional charges. Wave Pro's monthly subscription and Stripe's separate payment processing charge both matter. Read Wave's pricing, Stripe Invoicing pricing and Stripe Payments pricing for current terms.

Our data: Toolradar, the directory we operate, showed 238 tools evaluated in its invoicing category when checked on October 28, 2026. The underlying snapshot is dated October 27. The figure describes the directory category, not a test of these two products. Its Stripe profile and Wave profile provide further context.

At a glance

Wave charges 3.4% plus $0.60 for American Express on Starter. Stripe's published domestic rate and Wave's Visa/Mastercard/Discover rates are used for the card scenarios below. Different payment methods or negotiated merchant terms change the outcome. Wave Pro's card fixed-fee discount applies to its first 10 cumulative transactions per monthly subscription period; normal $0.60 fixed fees apply thereafter. See Wave's US payments terms.

What 10 and 100 card payments cost

Assume each invoice is paid once with an eligible US domestic Visa, Mastercard or Discover card, and the invoice is a one-time invoice paid in full. Stripe Starter adds 0.4% of the paid amount to the payment processing rate. Wave Pro is billed monthly at its regular $19 rate; the first 10 transactions qualify for its fixed-fee discount. Examples exclude promotions, tax, refunds and any other charges.

For 100 payments of $100, Stripe's processing is $320: 2.9% of $10,000 plus 100 fixed charges of $0.30. Its invoicing fee adds $40, for $360. Wave Starter's processing is $290 plus $60 in fixed charges, or $350. Wave Pro costs $290 in percentage fees, $54 in fixed fees on transactions 11 through 100, and $19 in subscription fees, or $363.

For a single one-time card payment of amount x, under these assumptions Stripe Starter costs 3.3% of x plus $0.30, while Wave Starter costs 2.9% of x plus $0.60. They are equal at $75. Below $75, Stripe is cheaper per payment in this simplified example; above $75, Wave Starter is cheaper. Rounding and different card terms can affect actual statements. The free accounts receivable guide compares a wider range of starting options.

Bank payments change the calculation

Stripe lists ACH Direct Debit at 0.8%, capped at $5 per transaction, in addition to the 0.4% Starter invoicing fee on a paid one-time invoice. Wave lists ACH at 1%, with a $1 minimum. For a single $100 payment, the published rates imply $1.20 for Stripe and $1 for Wave. For a single $1,000 payment, they imply $9 for Stripe and $10 for Wave. These examples assume the relevant bank payment service is available and enabled, and exclude other costs.

The Stripe cap applies to the ACH processing component, not to the separate invoicing percentage. At $10,000, for example, the formula is $5 plus $40, or $45. Wave's 1% would be $100 under the stated minimum-only rate. Stripe's bank transfer products are not interchangeable with ACH Direct Debit, so confirm the payment method and fees before using the comparison for a customer contract.

Where Stripe is stronger

Stripe's Invoicing page lists a hosted invoice page, a customer portal, automatic collection and invoice reconciliation. It also supports creating and sending one-time invoices through a dashboard or APIs. That makes sense when the finance team needs to connect invoice events to a product or existing billing workflow. The provider's broader Payments platform supports numerous payment methods; availability depends on account and geography.

The trade-off is that the 0.4% Invoicing Starter fee is not the whole payment bill. Card processing, international cards and currency conversion can add charges. Stripe Plus is 0.5% per paid one-time invoice and adds quotes; compare the extra 0.1 percentage point against the value of that feature. A business with recurring subscriptions should price Stripe Billing separately: Stripe's support documentation says recurring invoices generated via subscriptions are covered by Billing pricing, rather than the one-time Invoicing rates used here. The Stripe Billing review covers that separate subscription product.

Where Wave is stronger

Wave Starter combines unlimited invoices, estimates and bookkeeping records with a $0 subscription. That combination can be useful to a small business that wants the invoice and accounting record together. Online payments are optional and require approval. The free subscription does not make card or bank payment processing free.

Wave Pro adds bank transaction imports, receipt capture and automatic late-payment reminders. Its regular US price is $19 monthly or $190 billed annually, per business. The ten-transaction fixed-fee discount saves at most $6 per monthly subscription period under the listed $0.60 fixed charge. On card processing alone, that maximum saving does not cover the $19 monthly subscription; a buyer needs to value the other Pro features too. The annual option changes the subscription calculation, and promotions should not be assumed to last.

For a wider bookkeeping decision, see the QuickBooks Online pricing guide and Xero vs QuickBooks comparison. They address accounting subscriptions, rather than claiming that an invoicing fee is the entire cost of bookkeeping. For outsourced help, see startup bookkeeping costs. Our accounting software guide compares broader ledger products, and AI for accounting examines where automation fits the close process.

Check cash flow as well as price

An invoice fee and the date money reaches the bank solve different problems. Ask each provider for the expected deposit schedule for your account, including any review or hold. A business with a weekly payroll deadline should compare the date of customer payment with the date the funds are available, not assume that an invoice marked paid is already spendable. Reconcile fees against the bank deposit and keep the original invoice amount visible in the books. The cash-flow forecast guide explains how to put those expected receipts into a weekly plan.

Make the decision with your own invoice mix

1. Count one-time invoices paid each month and group them by amount and payment method. A few large invoices and many small invoices can produce very different results.
2. Calculate processing fees and invoicing fees separately. Include fixed transaction charges, the ACH cap or minimum, and any negotiated merchant rate.
3. Price the bookkeeping, recurring billing, quote and reminder features your team actually needs. Stripe Invoicing and Wave Starter do not cover identical accounting workflows.
4. Ask each vendor to confirm eligibility, settlement timing, international charges, refunds and contract terms for your account. The examples here do not include those costs.

Pick Wave Starter when free bookkeeping plus invoices matters and its payment terms fit your customers. Pick Stripe when the hosted workflow or API integration is the priority and the separate invoicing percentage is acceptable. Wave Pro can be worthwhile for automation, but it should not be justified by the first-ten card fee discount alone at the regular monthly price.

Frequently asked questions

Is Wave free for invoices?

Wave's Starter subscription is $0 and includes invoices. Optional online payment processing has transaction fees, and online payments require approval. Pro is a paid subscription.

Does Stripe charge for sending an unpaid invoice?

Stripe says unpaid, voided or uncollectible invoices are not charged under its Invoicing pricing. A paid one-time invoice can incur the invoicing percentage and applicable processing fees. See Stripe's invoicing support guide.

Which is cheaper for a $100 card invoice?

Using the published US domestic rates and assumptions above, Stripe Starter is $3.60 and Wave Starter is $3.50 for one $100 payment. Actual charges depend on the card, account, payment method and other services.

Does Wave Pro remove the fixed card charge for every payment?

No. Wave's US terms say the zero fixed-fee benefit applies to the first 10 cumulative transactions in a monthly subscription period. The regular fixed fee applies thereafter.

Is Stripe's ACH fee capped?

Stripe lists a $5 cap on the ACH Direct Debit processing fee. A separate Invoicing fee still applies to a paid one-time invoice. Check the actual method and contract before calculating a payment cost.

Are recurring invoices priced the same as one-time Stripe invoices?

Stripe says recurring invoices generated through a subscription are part of Stripe Billing. The 0.4% and 0.5% Invoicing examples in this article apply to one-time invoices, so check Billing pricing for subscription volume.

Methodology: We compared the providers' public US pricing and documentation read October 28, 2026, and calculated illustrative fees without promotions, tax or optional services. We did not test the products or verify individual account eligibility. Pricing and terms can change.

Cite this: CFOpresso, "Stripe Invoicing vs Wave 2026: Invoice Fees Compared", October 2026.

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