Holdings vs Wave
Wave is free but ad-supported and limited. Holdings starts at $0/mo — real automation, 57 free tools, and free banking. $25/mo for full DIY accounting.
Feature comparison
See how Holdings stacks up against Wave
| What you get | Holdings | Wave |
|---|---|---|
| Monthly Cost | From $0/mo | Free (ad-supported) |
| Accounting | ✅ Included free | ✅ Free (with ads) |
| Auto-Categorization | ✅ Included | ✅ Basic rules |
| P&L / Balance Sheet | ✅ Real-time | ✅ Manual generation |
| Invoicing | ✅ Free tools | ✅ Free (processing fees) |
| 57 Free Tools | ✅ Included | ❌ Not included |
| Business Banking | ✅ Free checking | ❌ Discontinued (Wave Money) |
| APY on Deposits | 1.75% | N/A (no banking) |
| FDIC Insurance | Up to $3M | N/A |
| Debit Cards | ✅ Physical + virtual | ❌ N/A |
| Domestic Wires | Free | N/A (not a bank) |
| Team Permissions | ✅ Included | ✅ Multi-user |
| Payroll | Not included | $40/mo + $6/employee |
Why choose Holdings over Wave
Replace Wave + your bank with one platform
Wave is accounting only — you still need a separate business account. Holdings gives you 57 free tools, accounting, and banking in one place. No syncing, no reconciliation gaps.
No ads, no limits
Wave is free but ad-supported with limited features. Holdings starts at $0/mo with real automation and 57 free tools — no ads, no limits.
Your invoices auto-update your books
With Wave, you reconcile between your bank and your accounting tool. Holdings connects invoicing, expenses, and accounting in one system — when money moves, your books update automatically.
Tax time takes 10 minutes, not 10 hours
Auto-categorized transactions, real-time P&L, and exportable reports mean tax season is painless. No sync delays, no missing transactions, no manual cleanup.
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When Wave might be the better choice
Wave may be better if you need payroll features, prefer traditional double-entry accounting with journal entries, or only need accounting software and are happy with your current bank.
Frequently asked questions
Is Wave really free?
Wave's accounting is free but ad-supported and limited. Wave charges for payroll ($40/mo + $6/employee) and payment processing (2.9% + $0.60 per transaction). Wave is free but ad-supported with limited features. Holdings starts at $0/mo with real automation, no ads, and free banking.
I already have a bank — why do I need Holdings?
Holdings isn't just banking — it's a financial platform. You get 57 free tools (accounting, invoicing, expense tracking, P&L reports) that replace paid software. The business account connects it all, but the tools work even if you keep your current bank.
Can I use Holdings tools without banking?
Yes. Holdings' tools — accounting, invoicing, expense tracking, reports — are free to use. The banking is optional but connects everything automatically when you use it.
Can I use Holdings instead of Wave + a bank?
Yes. Holdings replaces both your business account and your accounting software in one place — plus gives you 57 free tools that Wave doesn't offer. No syncing, no reconciliation, no separate tools.
Does Holdings support invoicing like Wave?
Yes. Holdings offers free invoicing tools with no processing fees. Wave also includes free invoicing but charges 2.9% + $0.60 per transaction for payment processing.
Ready to run your business from one place?
57 free tools. Free banking. Free invoicing. Accounting from $25/mo.
1.75% APY† • Zero fees^ • FDIC insured to $3M*
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Calculate Your Savings
See how much you could save by switching to Holdings.