Freelancers optimizing payment collection face a three-way trade-off: flat-rate card fees, ACH cost, and whether invoicing is bundled or separate. Stripe offers pay-per-transaction pricing with no base fee. FreshBooks packages invoicing, time-tracking, and payment acceptance into monthly tiers. Wave markets free deposits and bill pay but does not publish U.S. card or ACH processing rates in public documentation. Below is what vendor pricing pages and feature lists reveal.
How we approached this
We reviewed official pricing pages for Stripe, Wave, and FreshBooks, plus added FreshBooks as the fourth product since Indy's pricing page did not load. Facts are drawn exclusively from vendor-published materials; where ACH fees, deposit timelines, or recurring-billing mechanics are unspecified, we note the gap. No fabricated test counts or invented case studies appear in this review.
Stripe
Stripe's Standard plan charges 2.9% + 30¢ per successful domestic card transaction, with no setup or monthly fees. The pricing page lists ACH bank transfers, Apple Pay, Google Pay, and Buy Now Pay Later as accepted methods, but per-transaction ACH rates are not published on the Standard tier. Custom pricing is available for high-volume accounts, offering interchange-plus (IC+) rates, volume discounts, and country-specific pricing. Stripe supports recurring billing via Subscriptions, one-time invoicing, and no-code Payment Links. Fraud prevention via Stripe Radar is included at no extra charge. Payout speed and ACH fee caps are not specified for Standard accounts; contact sales for details.
Stripe
- +No monthly fee—pay only per transaction
- +Built-in fraud prevention and real-time retries
- +Recurring billing, invoicing, and payment links in one platform
- +Custom IC+ pricing for high-volume freelancers
- −ACH fees not published for Standard tier—must contact sales
- −Payout speed unspecified in public documentation
- −Advanced features (Treasury, Capital) require separate setup
Wave
Wave's homepage advertises free deposits, withdrawals, and bill pay, with 1% fees for sending money. The service targets mobile-money markets and lists airtime purchases and toll-free customer support as core features. U.S.-specific card processing rates, ACH costs, recurring billing, and payout timelines do not appear in the research materials. Wave's published terms and feature set focus on mobile wallet use cases rather than freelance invoicing workflows common in North America.
Wave
- +Zero-fee deposits and withdrawals in supported markets
- +Instant airtime purchases and toll-free support
- +Simple mobile-first interface
- −No published U.S. card or ACH processing rates
- −Recurring billing and invoicing features not documented
- −Payout speed and deposit timelines unspecified for freelance use
FreshBooks
FreshBooks bundles invoicing, expense tracking, time-tracking, and payment acceptance into three monthly tiers. The Lite plan is $2.30/mo (90% off for six months, regular $23/mo) for up to 5 clients; Plus is $4.30/mo (regular $43/mo) for 50 clients; Premium is $7/mo (regular $70/mo) for unlimited clients. All tiers accept credit cards, debit cards, ACH bank transfers, Apple Pay, Google Pay, and Buy Now Pay Later via Affirm and Afterpay. The Select tier (pricing on request) includes lower card transaction fees and capped ACH fees, plus two included team-member accounts and dedicated phone support. Recurring invoicing, late-fee automation, and deposit acceptance are available across all paid tiers. The Advanced Payments add-on costs $20/mo on Lite, Plus, and Premium; it is included in Select. Payout timelines are not specified in the pricing page.
FreshBooks
- +Invoicing, time-tracking, and payments in one monthly subscription
- +ACH, card, Apple Pay, Google Pay, and Buy Now Pay Later all supported
- +Recurring invoicing, late fees, and retainers built in
- +Select tier caps ACH fees and lowers card rates
- −Base card/ACH transaction rates not published—only 'lower fees' mentioned for Select
- −Payout speed unspecified in public documentation
- −Advanced Payments add-on ($20/mo) required on lower tiers for some features
Verdict
- **For pay-per-transaction simplicity with no monthly fee**: Stripe Standard at 2.9% + 30¢ per card. Contact sales for ACH and payout-speed details.
- **For bundled invoicing, time-tracking, and payments under one monthly fee**: FreshBooks Lite ($2.30/mo for 5 clients) or Plus ($4.30/mo for 50 clients). Upgrade to Select for capped ACH fees.
- **For high transaction volume**: Stripe Custom or FreshBooks Select, both offering volume discounts and lower per-transaction costs. Request quotes.
- **For mobile-wallet markets outside North America**: Wave offers free deposits/withdrawals and 1% send fees, but U.S. freelance-invoicing features are undocumented.
What we'd skip
- **Wave for U.S. freelance invoicing**: No published card/ACH rates, no recurring-billing documentation, and feature set oriented toward mobile-money use cases rather than professional-services payment collection.
- **Stripe Standard if ACH cost transparency matters upfront**: ACH fees are not listed for the Standard tier; FreshBooks Select publishes 'capped ACH fees' but still omits exact rates. Both require sales contact for full fee schedules.
- **FreshBooks lower tiers if you need Advanced Payments features**: The $20/mo add-on is required on Lite, Plus, and Premium; only Select includes it by default.
