Wire Transfers Now Supported – Get Early Access

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In keeping with tradition, we’re rolling out a new feature to a small handful of Dwolla members.

Dwolla now supports wire transfers for deposits. In the event your business would like to drop $1 billion into your Dwolla account, now your business or government organization can do so.

Initially, the feature is available for business accounts and is request only while we scale this feature with our financial partners and a limited group of companies.

This feature is useful in the following scenarios:

  • When a $50MM dollar transaction limit just isn’t enough, and your business or government organization needs to get more money into the network. Use wire.
  • Do you need to pay out 3,000 people tomorrow and your check writing system is making you insane? No problem, Dwolla it. Maybe even use MassPay.

There are a few things to note:

  • There is no fee from Dwolla to use wire. Our existing pricing still applies.
  • Your bank may charge you a fee to initiate a wire transfer to Dwolla.

Why did we do this?

  • A few big customers asked us for it.
  • We could do it, so we did.

We’re building the ideal network and sometimes ideal just means doing what people ask. Thus far we’ve done $10mm or so in testing and look forward to a whole lot more.

Apply for access to wire

Fill out my online form.

  • John Fein

    Begs the question: Is FDIC insurance on Dwolla balances a possibility soon?

    • CaityJones

      Hey @johnfein:disqus – thanks for the question! As of right now the wire feature does not change how Dwolla works with banks or credit unions, therefore not changing the insured status of the funds in the Dwolla network. I’m sure we’ll keep adding more financial institutions to the network over time though!

      • John Fein

        Cool thanks!

  • Jim Bob

    I would love a transfer-into-Dwolla feature on the small-scale end of the spectrum.

    How about the ability to have an automatic deposit into my Dwolla account, as distinct from the “top up” kind of automatic deposit. Say X dollars per day / week / month / etc.

    This suggested feature is no different than the automatic transfers or payments I can set up at my bank. But that I cannot do with Dwolla.
    Why not Dwolla too?

    • CaityJones

      Hey @disqus_CbjVHa1nV5:disqus – thanks for the feedback and telling us what would make Dwolla more useful to you. While I’m not sure that we have exactly what you are asking for here, I’ll tell you about a couple of tools that we do have already available that you may or may not have already checked out.

      Recurring payments: You can set up a payment for a certain $ amount to be sent every month, every two weeks, or every week to another Dwolla account.

      Minimum balance: Initiates a deposit into your Dwolla account on your behalf if your balance ever falls under a specified amount.

      Auto-widrawal: Initiates a withdrawal on your behalf to your bank account any time a transfer comes into your Dwolla account.

      Right now, there is not a way to set up a recurring deposit just into your Dwolla account, which is what I believe you are asking for. I definitely think this would be a useful feature and will pass it along to our development team.

  • Michael

    Does this work for international wires or just domestic?

    • CaityJones

      As of right now, Dwolla still only operates in the U.S. We look forward to international expansion in the future! https://www.dwolla.com/global

    • http://www.benmilne.com/ Ben Milne

      Michael – You could originate the transaction from an international bank to your Dwolla account. That is possible.

  • Ex customer

    Worst company i have dealt with. stay away fromt hem

    • CaityJones

      I’d love to know what happened, and how we can fix it. Please email me at caitlin@dwolla.com.

      • Current Customer

        I’d love to know also. Thus far, using Dwolla for business has been easy and effective. No issues to speak of.

  • dave

    does this work with MTGox.com?

  • Tarilas Jones

    great article

  • joshuajoseph

    I would like to send a hundred dollars to get started bidding

  • Bijan

    This might be a stupid question but I’m gonna ask it anyways—- this is for Dwolla account to Dwolla account correct?

    • CaityJones

      Hi Bijan – Not a stupid question! It’s actually only available for business accounts to move money from their bank account to their own Dwolla account.

  • Subhodip Datta

    Does this work with international wire transfer from any foreign countries to US like WU ?or its just within US ?

    • CaityJones

      Hi Subhodip – Dwolla still only operates within the U.S. You can sign up here so that you receive a notification for when we do expand internationally: http://www.dwolla.com/global.

  • Mark

    So I have my bank account linked to my Dwolla, and I can deposit / withdrawal money. Do I have to wire from that account because it’s my funding source? Or can I wire to my Dwolla from any of my accounts?

    Basically I’m still trying to figure out how to ‘target’ my Dwolla account with a wire transfer. Thanks!

    • CaityJones

      Hi Mark – You do not have to use the bank account linked to your Dwolla account. Because you will use your Dwolla account to facilitate your wire transfer, we know to put the money in your account when the wire comes in.

  • Sammy

    About international transactions, I’m still bit unclear. Can we use our business Dwolla account to wire money to international bank accounts? We have contractors in Taiwan and Hong Kong that we currently pay by EFT. Can we now do this through Dwolla instead of going to the bank every month?

    • CaityJones

      Hi Sammy – Dwolla cannot facilitate international transactions because we are still only operating in the U.S. When we do go international, we hope to be able to help you out in these situations.

      • Phil

        Hello Caity,

        do you have any timeline for going international? Or is it done, when it’s done?

        Im interested in collecting money from US based customers via Dwolla, would need the ‘international’ part only for withdrawals from Dwolla to the bank account/cc of my business.

        edit: looking for beta users? 😉


        • CaityJones

          Hey Phil! We don’t have a timeline for going international yet — need to build out the team and the product a bit more so that we can best support it. Feel free to sign up here to be notified when we do! https://www.dwolla.com/global

          • R. Michaux

            Do you need attorney’s to assist you? Just wondering. Practicing attorney and you all sound interesting :-)

          • CaityJones

            Not quite on the road map yet, but thanks for reaching out to help @rmichaux:disqus! We hope you continue to follow us, big plans for 2014!

  • Love Dwolla

    I have customers that prefer to pay me by wire. My bank charges me $11 bucks each time this happens, I hate it. Can I apply for access to wire and then have my customer update the DDA I previously gave them and they could just wire it to my Dwolla account and pay 25 cents instead?

    That would be ridiculous if so, I’d love that.

    • CaityJones

      Great question! Right now only merchant accounts can sign up with Dwolla. However, if your clients are businesses, then they could apply for the wire feature and wire money into their Dwolla accounts, then send that payment instantly to your Dwolla account.

  • Olya Solnechka
  • Nancy

    If I use Dwolla for my wire transfers for my construction loan draws, does the lender (bank) have to set up a Dwolla account in order to wire funds to my Dwolla account?

    • CaityJones

      Hi Nancy, I received your email and sent you back a response. Please let me know if I understood the situation correctly and answered your question!

  • Laura

    How fast do we get the money using wire?

    • CaityJones

      When wiring from your bank account into your Dwolla account, it will clear within one business day.

  • http://onenation.livenation.com/ Ken O’connell

    Can a client that lives outside the United States, specifically Peru or UK, pay me via Dwolla? Or must they be U.S. Based?

    • CaityJones

      Hi Ken, right now Dwolla only services U.S. based accounts. Looking forward to expanding in the future!

Financial institutions play an important role in the Dwolla network.

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 funds transfers to Veridian Credit Union and Compass Bank.