I tried this last summer. It was fairly disastrous. It usually takes 2 weeks to get paid via Dwolla, and if a banking holiday is involved it may take even longer. I had support issues that were not resolved promptly, or in some cases, not at all. If you make a mistake in the UI, your 2 week wait can grow even longer; they've since corrected some of the phrasing, but it used to be unclear if you were putting money into Dwolla or taking it out. If you accidentally put it in when you meant to take it out, you're looking at ANOTHER 2 week wait to get your money, and hopefully the account you ordered a withdrawal on has enough room for that transaction not to overdraft. They won't and supposedly can't reverse that kind of operation.
As a developer, I attempted multiple times to get information on the FiSync APIs, as I have connections to some local financial institutions. I was thoroughly ignored despite some significant persistence.
Like all banking startups, Dwolla is just a frontend for a real bank and they can't control flow or do anything once a "real bank" operation has been handed off. Dwolla therefore sucks. It'd be nice if they used that money to become a bonafide, real banking institution.
My clients and I went back to check via parcel carrier. It was still usually at least a week faster than Dwolla.
As a developer, I attempted multiple times to get information on the FiSync APIs, as I have connections to some local financial institutions. I was thoroughly ignored despite some significant persistence.
Like all banking startups, Dwolla is just a frontend for a real bank and they can't control flow or do anything once a "real bank" operation has been handed off. Dwolla therefore sucks. It'd be nice if they used that money to become a bonafide, real banking institution.
My clients and I went back to check via parcel carrier. It was still usually at least a week faster than Dwolla.