What is Payments powered by Dwolla ?
Payments powered by Dwolla is a bank transfer functionality powered by Dwolla. Dwolla is a powerful payment platform that securely connects to bank or credit union accounts to enable ACH payments for any individual or organization in the U.S.
By leveraging Dwolla’s API, the software is able to provide an integrated ACH payment experience for seamless fund transfers for our customers while reducing the headaches associated with fraud, exposure of sensitive financial data, and the complications of using third-party processors.
- No transaction fees
- Up to 6 bank accounts
- Dwolla Balance
- Unlimited transactions
- Unlimited transactions to service pros and owners
- Automatic withdrawal to a bank account
The Dwolla payments option is available starting from our Starter subscription plan.
Is Dwolla a bank?
No. Money held in a Dwolla account is housed by Dwolla’s partner financial institutions, Veridian Credit Union and Compass Bank. Neither Dwolla nor its holding partners collect interest on funds held in Dwolla account balances.
Dwolla, Inc. is an agent of Veridian Credit Union and Compass Bank, and all funds associated with your account in the Dwolla network are held in pooled accounts at Veridian Credit Union and Compass Bank. These funds are not eligible for individual insurance, including FDIC insurance, and may not be eligible for share insurance by the National Credit Union Share Insurance Fund. Dwolla, Inc. is the operator of a software platform that communicates user instructions for fund transfers to Veridian Credit Union and Compass Bank.
Mar. 24, 2022