Wave is one of the most recognizable invoicing platforms in Canada. With its free Starter plan and a $25 CAD/month Pro plan, it’s often the go-to for freelancers looking to cut costs.
But while Wave looks “free,” hidden fees and limitations often make it more expensive both financially and in lost time.
The Appeal of Wave Starter (Free)
- $0/month forever.
- Unlimited invoices, clients, and estimates.
- Basic bookkeeping included.
On the surface, it feels perfect. But here’s where the hidden costs creep in.
The Hidden Costs of Wave
1. Transaction fees
Wave makes money through Wave Payments:
- 2.9% + $0.30 per card payment (3.4% + $0.30 for AMEX).
- 1% fee on bank transfers (min $1).
👉 For freelancers billing thousands per month, these fees quickly exceed a flat subscription cost.
2. Payroll costs
Hiring contractors or employees? Payroll costs $40 CAD/month + $6 per worker. That’s more than double Paymavo’s Pro subscription before you even add users.
3. Upgrade pressure
The free plan lacks automation (recurring billing, reminders, receipts). To get them, you need Wave Pro at $25 CAD/month more expensive than Paymavo Pro, and still with transaction fees.
4. Uncertain focus
Since Wave’s acquisition by H&R Block, freelancers worry about its long-term direction. Free products can pivot or shut down, leaving you locked in.
5. Support limitations
Free users often wait longer for help. If your invoicing breaks, so does your cash flow.
Why Paymavo is Different
Paymavo is built for Canadian freelancers who value clarity:
- Flat $15 CAD/month (or $144/year).
- Unlimited invoices and clients.
- Professional branding with your logo.
- Priority support at the Pro level.
- Transparent pricing: no upsells, no hidden fees.
With Paymavo, $15 CAD/month is all you’ll ever pay for invoicing.
Verdict
Wave’s free plan looks appealing, but once you factor in transaction fees, payroll, and upgrades, it’s far from free.
Paymavo keeps invoicing transparent, affordable, and CAD-first the smarter choice for freelancers who want predictability.
