Our Opinion Of Dwolla
Dwolla is best used as a supplement to a traditional credit card processing service. The service is especially useful for business-to-business payments, mass payouts, and rent payments.
Dwolla provides additional security when logging into an account with two-factor authentication. Two-factor authentication is a secure login process requiring two types of identification (login credentials and a one time passcode)
First, you type in who you'd like to send funds to. You can send them funds via email address like you do with PayPal, or via name or handle (via connected social accounts), phone number or Dwolla ID. Next, you type in the amount to send to the contact, as well as which account you want the money to come from.
Enter Dwolla. Dwolla may not soon replace PayPal in terms of popularity or utility, but it certainly sounds promising: It's a cash-based payment network that allows you to purchase goods and services, while also giving you freedom to send and receive cash with anyone via a peer-to-peer platform.
4 companies reportedly use Dwolla in their tech stacks, including Tophatter, Zently, and Full Harvest.
Compare Plans
Pay-As-You-Go | Launch | |
---|---|---|
Unverified Customer | $2 /user | $2 /user |
Verified Customer - Personal | $2 /user | $2 /user |
Verified Customer - Business | $2 /user | $2 /user |
ACH Transfer Types | 0.5% (min. 5¢, max. $5) | 0.5% (min. 5¢, max. $5) |
No. Money held in a Dwolla account is housed by Dwolla's partner financial institutions, Veridian Credit Union and Compass Bank.
Dwolla is an ACH payments facilitator headquartered in Des Moines, Iowa. ... Unlike almost every other merchant services provider we've reviewed, Dwolla does not offer credit or debit card processing at all.
Standard ACH Debit: A standard ACH debit through Dwolla will be made available in the Dwolla Network three to four business days after the transfer is initiated.
Dwolla is not a money transmitter and does not perform money transmission or money transfer or payment services.
Dwolla's Off-Site Gateway is only available for API v1 users, which Dwolla no longer supports. Today, Dwolla offers the Dwolla Platform as a payment integration solution to address the needs of an application.
Dwolla Corp, located in Des Moines, Iowa, is registered as a money transmitter in Iowa and provides accounts only to those who bank in the United States.
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