Pmnts vs Wave
Start with the part these pages usually skip: Wave is genuinely free. Unlimited invoices, no client cap, and real double-entry bookkeeping at no cost. If you want invoicing and books in one place and you want to pay nothing, use Wave. That's a straight recommendation, not a setup.
Two things do cost money. As of August 2026, automated reminders and custom branding are on Wave Pro at $19 a month. And Wave's free tier charges 2.9% + 60¢ per card payment, where a Pmnts invoice is paid through your own Stripe account at 2.9% + 30¢.
So the comparison is narrow. If you want invoices chased automatically and your own Stripe rate, Pmnts is $9 instead of $19 and 30¢ cheaper on every card payment. If what you want is free books, none of that matters.
Side by side
The whole comparison
| Compared on | Wave | Pmnts |
|---|---|---|
| Price | $0 for invoicing; Pro is $19/mo for reminders and branding | $9/mo or $90/yr for Pro; a free tier as well |
| What's capped | Nothing on invoices — unlimited, free | Nothing on Pro |
| Payment fees | 2.9% + 60¢ per card payment on the free tier | 2.9% + 30¢ — Stripe's US rate, in your own Stripe account |
| Automated reminders | Wave Pro, $19/mo | Pmnts Pro, $9/mo |
| Bookkeeping | Included free — double-entry books with bank connections | None. Pmnts is not accounting software. |
| What you give up by switching | Free bookkeeping, expenses and receipts, financial reports | All of it |
Prices, plan limits and payment rates as of August 2026, taken from each product's published pricing. They change — check both before you decide.
Be honest
When Wave is the better choice
Three cases where switching to Pmnts would be a downgrade. If any of them is you, stay put — Wave is the right tool.
You want your books for free
Wave's bookkeeping isn't a teaser tier. Double-entry accounting, transactions and year-end reports, at no cost. No $9 invoicing tool is going to beat free books.
You're happy chasing invoices yourself
If you don't need automated reminders, Wave's free tier covers unlimited invoicing and the $19 plan never comes up.
You want one login for everything money
Invoices, expenses and reconciliation in a single account is genuinely simpler than two tools, even when one of them is cheaper.
What you'd actually get
Everything Pmnts does
It's a short list on purpose. Pmnts is not accounting software: no expenses, no time tracking, no bookkeeping, no payroll, no teams.
- Automated reminders at $9 a month rather than $19
- Card payments at Stripe's rate into your own Stripe account — 30¢ less per payment, and the money never sits with us
- Your logo and brand color on eight templates, on Pro
- Recurring invoices for anything you bill on a schedule
- CSV export when your accountant wants the list
FAQ
Questions people ask before moving
Is Wave actually free?
For invoicing, yes — unlimited invoices and basic bookkeeping cost nothing. Automated reminders and custom branding are on the $19 a month Pro plan as of August 2026, and card payments on the free tier run 2.9% + 60¢.
Why is a card payment cheaper through Pmnts?
Because Pmnts isn't in the payment. You connect your own Stripe account and pay Stripe's published rate — 2.9% + 30¢ in the US as of August 2026 — with the money going directly to you. Wave prices its own processing at 2.9% + 60¢ on the free tier.
Does Pmnts do bookkeeping?
No. No expenses, no reconciliation, no reports for tax time. If that's what you need, Wave does it free and you should use it.
Send one invoice and see.
Pro is $9 a month, or $90 a year, as of August 2026. There is a free tier too — the current limits are on the pricing page.
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