Understanding your fees
WAAVE Checkout Fees
WAAVE charges no fees to users when they use WAAVE checkout on third party websites.
The merchant, on the other hand, pays processing fees. This is pretty standard for card processing, unfortunately in our industry, some merchants might pass on these fees to you. We don't like that, and we ask them not to, but we have no control over their decisions.
Some banks, especially in the US, are now considering Crypto-backed transactions a cash advance and they place additional fees on their customers when they use a credit card to buy a product with cryptocurrency.
These fees can be somewhere between $6-$10. We don't like this either and are constantly working towards improving the flow and experience of our customers, but if you are used to using these websites with BItcoin you know this is an industry-standard.
To avoid all fees from your bank you can use WAAVE Checkout with your DEBIT CARD.
When you use your debit card at checkout you will not see any additional fees from your bank.
When you WAAVEPay at a cash-only store WAAVE has a convenience fee between $0.50-and $1.50. This allows us to support our operations and maintain your cashback rewards.
If you are using your credit card your bank might charge you an additional fee as stated above, debit cards will see no additional fees.
What you see on your statement
You will not see the name of the merchant or website on your statement, which means it can be a bit hard to identify what that transaction is for! So here are some tips on how to identify a WAAVE Checkout or a WAAVEPay order.
1. We use many processing partners for different countries and different industries so the description on your statement might vary, but if you see Wyre or WAAVE on your statement that is an order you placed through our platform. If you have questions about an order you can always reach us through our chat. The bot will guide you to the right person on the WAAVE team to help
2. If you have issues with a past order always contact us first
3. After each order you will get an email from us. This email details your payment, make sure your communications from us don't go to spam. Order confirmation and details will be sent to you by the merchant/website where you place the order.
4. Your transaction history is available in-app so if you don't have it yet please download it, go to "activity" and see all your past transactions. Just make sure you use the same login information you used when you created your WAAVE checkout account.