By: Travis Ensley,

Sometimes becoming who you are means leaving behind some things you were.

From the beginning, the inventors, creators and believers at Dwolla set out to build the ideal platform to move money. We have been fortunate to have success with a number of products over the years and each product has given us the opportunity to refine our mission to build what our customers want and need for their business.

When we launched Transfer in the spring of 2017, we came closer to that ideal with providing a primarily Dwolla branded user interface and API that afforded our customers a turn key solution to move money.  Although Transfer became popular, we realized that it was not, in fact, the ideal way to move money, and that we weren’t done.

In late 2017, we recommitted to our mission and bolstered the Dwolla Platform, a white label API which seamlessly integrates with businesses, giving them and their users a fast, affordable and secure, largely unbranded, connection to the ACH Network, which allows them to send and receive funds. As we improved our services it only reconfirmed that this is the path towards our mission of building the ideal platform for moving money.

What Does That Mean For Transfer?

Unfortunately, this commitment to our platform means that Transfer—which allowed individuals to pay each other through an app or our website—is going to be discontinued.

We understand that there are a number of people who still use Transfer and that this will be inconvenient. However, to ease to trouble of Transfer going away, we are discontinuing that service in stages.

Starting October 2018, we will no longer accept new Transfer accounts.

In December 2018, the ability to send or receive payments will be removed entirely and Transfer will be permanently retired.

Throughout this process, we have been communicating with our Transfer customers and we will continue to do so as these dates approach. It’s important for all of our customers to know what’s going on, how it affects them and what to do going forward.

So what does this mean for your business?

For businesses currently using the Transfer product to send or receive funds, there are a few easy steps to take to make sure you are ready when the Transfer functionality is fully removed in December 2018.

Please take the next steps to:

  1. Identify a new payment solution for your business
  2. Communicate to your users the changes that they can expect
  3. Withdraw any funds from your Dwolla account, if applicable

It is possible that everything you were using Transfer for can be replicated using our Dwolla Platform. To learn more, visit our platform page or contact sales@dwolla.com.

To make sure we are communicating as thoroughly as possible, end users associated with your account will receive a general communication from Dwolla about these changes in the next week or so. We encourage you to contact them directly to discuss how this change will impact any ongoing arrangements with your business.

The communication that your users will receive is outlined below:

Dwolla is notifying you of upcoming changes that will impact the account tied to this email address.  

In December 2018, Dwolla will no longer support the product, Transfer, that this email address has been identified as using to send or receive payments. Dwolla will begin to remove the ability to sign up with this product in October 2018. After December 2018, the ability to use the Transfer product to send or receive payments will be removed entirely.

We are discontinuing Transfer because we are focusing exclusively on products that bring us closer to our mission of building the ideal platform to move money. Still, we recognize that this is a disruptive change and we want to help in any way possible. For questions about the transition, whether your account is a Transfer account, or what to do next are always welcome at help@dwolla.com. Thank you.

Regards,

Travis Ensley

Dwolla VP of Product

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.