Mistakes happen. That’s life.
Fortunately, with today’s update, Dwolla is solving one of the more popular mistakes we’ve seen: The accidental transfer.
Whether you added too many “zeros” or sent money to a non-existent email address, Dwolla now provides users with a few more scenarios, and a bit more leniency, to correct accidents. No administration or cancellation fees either.
Altogether, you can now stop or cancel:
- a transfer or deposit FROM your bank account going TO your Dwolla account that has not yet been exported from the bank
- money sent to a wrong email address or phone number, so long that is not connected to a Dwolla account
- money sent to a Facebook, Twitter, or LinkedIn account, so long that the profile is not connected to a Dwolla account
In the end, these scenarios represent a lot of the common accidents that we can have the power to fix. They do not alter the traditional structure of a Dwolla payment, so if a recipient receives the money, you (aka the sender) cannot cancel or withdrawal the transaction (they could ask for the money back though!).
To do so, simply head to your online “account summary,” find the transaction you’d like to stop and click the “Details” link. From here, you’ll be easily “Cancel the Deposit” or “Cancel the Transfer.” Here’s what it looks like from a visual angle: