On Tuesday, we announced that H&R Block signed an agreement to acquire Wave. A few of our customers have reached out to us with questions and we want to make sure you have all the answers.
Here’s everything you need to know
Is Wave still going to be free?
We are committed to keeping our free software (accounting, invoicing and receipt tracking) free, today and into the future. Cost should never be a barrier to properly running your business, which is why our core software will always be free.
Are the costs of your paid services changing?
No, the pricing of our financial services are not changing.
We will continue to charge 2.9% + 30¢ per transaction for credit card processing in Canada and the United States and 1% per transaction for Bank Payments (see rates for other countries here).
Our monthly payroll services will still start at $20 or $35 a month, with $4 per additional employee or independent contractor.
Are you going to drastically change your software’s offerings?
We will continue to build and improve our products (and launch new ones) as we’ve always done. We have our roadmap and are sticking to it.
Does this affect how I use Wave day-to-day to manage my business?
The short answer is no, we’re not planning to interrupt how you use Wave day-to-day to keep track of your income, expenses, invoices and payments.
We value the trust that hundreds of thousands of business owners have in Wave to manage their finances, and we want to keep it that way.
What does H&R Block bring to Wave and how I run my business?
We’re extremely excited about the opportunities we have to help entrepreneurs more effectively manage their finances.
H&R Block and Wave have the ability to work alongside one another and leverage each other’s expertise in the world of finance in order to bring tax and financial solutions to small business owners all over the world.
Is my personal information still safe?
Yes, it’s still 100% safe in the Wave ecosystem. We are not making any changes to the way we process or store your account information.
If any changes are planned in the future, we’ll give you ample notice and be as transparent as possible. And, as always, we’ll offer you the choice to opt in or opt out of how your data is used.
Are you going to remain focused on building solutions for small businesses and entrepreneurs?
Absolutely. We built Wave for small businesses, start-ups, freelancers, and anyone with an entrepreneurial spirit—and it’s going to stay that way.
We now just have access to more resources and tools than we did before, and that means more focus and dedication to solving the problems of small business owners everywhere.
Will there be major changes to the operations of Wave under its new ownership?
Kirk Simpson and the leadership team will still be steering the ship at Wave headquarters in Toronto, Canada. Wave will continue to operate as a standalone company with our own brand just as we always have.
Looking towards the future
This is certainly an exciting time at Wave and we’re grateful to share it with our valued and loyal customers. Thank you for being with us and trusting Wave to help run your business and manage your finances.
We can’t wait to build even better tools and integrate smarter solutions into the Wave ecosystem to serve you in the future.
The information and tips shared on this blog are meant to be used as learning and personal development tools as you launch, run and grow your business. While a good place to start, these articles should not take the place of personalized advice from professionals. As our lawyers would say: “All content on Wave’s blog is intended for informational purposes only. It should not be considered legal or financial advice.” Additionally, Wave is the legal copyright holder of all materials on the blog, and others cannot re-use or publish it without our written consent.