Dwolla.com Dwolla Checking to Checking low fee transfers

[teguh123]

Anyone tried this?

[Modee]

Dwolla is a moneybookers or xoom type "processor" that is one step above, say, (the former, now dead) e-gold. Dwolla allows essentially the transfer of money - cash - to and from your bank accounts. A while back moneybookers allowed U.S. residents to transfer money, and would allow the upload from credit cards, but currently it does not, although a form of moneybookers that is a credit card payment processor is allowed on Ebay for U.S. residents. So dwolla might fill in a niche for U.S. residents seeking to transfer money.

Dwolla is based in the U.S., and has no bad reviews from what I can see
Dwolla Review & Complaints » Merchant Account & Credit Card Processing Guide | Merchant Account Reviews & Ratings
and its fees seem very low (no fee at all to transfer under $10., flat fee of $0.25 for any amount over $10.)

but again, it is limited - people (by people I mean your average buyers) are not going to want to deal with dwolla. Also keep in mind that especially during a slow economy many people need to pay with credit cards. And when it comes to credit card payments, there was a time when PayPal was looked at with suspicion but it is so mainstream now that many online buyers are suspicious of any merchant processor other than PayPal.

Nice job finding dwolla though. These days we have to be innovative and try to think outside the PayPal box. Even GoogleCheckout over the last couple of years has started to get repressive, so it's good to explore other options.

[teguh123]

Thanks modee

[Modee]

I opened an account with them. I went ahead and provided real personal information though, to open a corporate account, although I could have easily done it with other personal information too I believe, as long as at least the corporation under which I opened the account was genuine with a valid EIN.

In other words - with these types of vendors, if the corporate information is correct and real, they don't really care or have a way of verifying if the personal is not.

[krismorris]

I find Dwolla good. In fact, if you've tried PayPal and would like something different, you may like Dwolla. This cash-only service does anything but credit cards or debit cards. It's also less expensive than the competition.