How do I add a bank account?
In order to move money, you’ll need to connect your bank accounts to your Payments powered by Dwolla account and verify it. You can add two bank accounts to your Dwolla Payments' settings.
To add a funding source to accept and send payments, go to main Settings → Online Payments → Dwolla Payments settings page and click the "+ add new bank account" button:
You will see a pop-up with the most popular bank unions. You can search for your bank or credit union or select from the list below. You can choose either the Instant or Micro-deposits verification method:
If you have multiple accounts with the same bank, you’ll be asked to choose one. After that, your bank account will be successfully connected so that you can easily transfer money in and out.
Instant Verification Method (recommended):
Instant Account Verification uses the same login credentials you use on your bank’s website and securely verifies that you own the account within seconds. The banking information you enter is not stored by Dwolla or software:
This verification method uses your routing and account numbers, and takes up to 3 days. Dwolla will make two small deposits between $0.01 and $0.20 (example) into the bank account you provided. Keep an eye out for these — they typically show up within 1-3 business days — and note the specific amounts.
Then, you will need to return to Dwolla Payments Settings and click “Verify” next to your bank. Enter the amounts of the two deposits you received from Dwolla in your bank account (e.g., $0.03 and $0.12).
After you enter the two amounts correctly, your bank account will be successfully connected with Dwolla so you can easily transfer money in and out.
Things to keep in mind:
- The “account name” is for your reference only. Pick something that describes the account so you’ll remember it later. For example “B of A -- checking” or “My Savings Account #4”.
- Your account type must either be a checking or savings account. You cannot link “non-transactional” accounts like investment or money market accounts.
- Your routing number is the nine-digit code your bank uses to identify how funds are sent and received through your bank account. Do not enter a special routing number that your bank gave you just for wire transfers only - use the typical routing number found on your paper checks or on your bank’s website.
- Dwolla Payments does not link with debit/credit cards.
- Your banking information is not visible to other members of the Dwolla and software network.
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Mar. 28, 2022