Holdings vs Wave
Wave offers free but limited accounting software. Holdings gives you the same accounting — plus 35+ business tools and a free bank account — for $0, with no ads.
Feature comparison
See how Holdings stacks up against Wave
| What you get | Holdings | Wave |
|---|---|---|
| Monthly Cost | $0 | 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) |
| 35+ Free Business 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 bank account. Holdings gives you 35+ business tools, accounting, and banking in one workspace. No syncing, no reconciliation gaps.
No ads, no limits
Wave's free accounting is ad-supported and limited. Holdings has no ads, no upsells, and no premium tiers — plus you get 35+ tools Wave doesn't offer.
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.
Get the Accounting Switch Guide
Moving off Wave? See how to consolidate your invoicing, accounting, and banking into one platform — no patchwork of free tools.
We'll send the accounting switch guide and nothing else. No spam, unsubscribe anytime.
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). Holdings is $0/month with no ads and includes 35+ business tools.
I already have a bank — why do I need Holdings?
Holdings isn't just a bank — it's a financial workspace. You get 35+ free tools (accounting, invoicing, expense tracking, P&L reports) that replace paid software. The bank 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 bank account and your accounting software in one workspace — plus gives you 35+ 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?
35+ free tools. Free accounting. Connected banking. Try it in 5 minutes.
1.75% APY† • Zero fees^ • FDIC insured to $3M*
Compare & Explore
Free Accounting Software
Automatic categorization, P&L, and balance sheets.
Holdings vs QuickBooks
Built-in accounting vs add-on accounting software.
Holdings vs Xero
Compare Holdings and Xero for small business accounting.
Holdings vs FreshBooks
Compare Holdings and FreshBooks for invoicing and accounting.
Banking for Freelancers
Separate business finances and track expenses easily.
Free Business Tools
Invoice generator, P&L, expense tracker, and more.
Calculate Your Savings
See how much you could save by switching to Holdings.