Dwolla is a payment network that allows any business or person to send, request and accept money. We're not like those other big payment companies that rely on plastic cards and charge hefty fees. Instead, we’ve built our own network that securely connects to your bank account and allows you to move money for just $0.25 per transaction, or free for transactions $10 or less.
That’s how we are able to keep our fees so low. Some businesses accept only Dwolla, but most accept Dwolla alongside credit cards and other forms of payment.
But, they will need to create one to claim the funds. Businesses need to set up a Dwolla account to accept Dwolla.
By default, the receiver pays the $0.25, but the sender can choose to pay the fee instead.
When you pay with a credit card, your name, expiration date, and 16-digit card number can be seen, stored, and shared by employees, other businesses, and a handful of potential middlemen.
When you write a check, you expose your name, address, phone number, bank account number and routing number with cashiers, managers, and a list of others.
When you pay with Dwolla, you share only your email address, phone number or unique Dwolla ID.
Why is this important? It means more control over your information, less worrying about scary things like identity theft and fraud, and less burden on businesses who accept and store your personal information every time you swipe that credit card.