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.