The most common scenario for this guide is to facilitate marketplace or peer-to-peer transfers between your customers.
In this guide, we’ll cover the key points of transferring money:
Verified Customerwho will receive the transfer
Unverified Customerwho will send the transfer
You need to have a Sandbox account already set up.
Here are some rules to keep in mind:
In this guide, we’ll create two Customers: one to represent a seller and one to represent a buyer. In this scenario, the seller, Jane Merchant, is a
Verified Customer with an unverified funding source. The buyer, Joe Buyer, is an
Unverified Customer with a verified funding source.
Verified Customers, and both could have verified funding sources. Or, you could have the sender undergo identity verification but not the recipient.
Looking to learn more about each Customer type and how it relates to your funds flow? Take a look at our Customer types article for more information.
Use sandbox environment to test API requests.
Dwolla, Inc. is the operator of a software platform that communicates user instructions for funds transfers to our financial institution partners.
Dwolla is an agent of Veridian Credit Union. All ACH and Wire transfers are performed by Veridian Credit Union. Your Dwolla Balance, if any, is held in one or more pooled holding accounts held by Veridian Credit Union. These funds may not be eligible for share insurance by the National Credit Union Share Insurance Fund.
Sponsorship and Settlement of Push-to-Debit payment services provided by MetaBank®, N.A.
Push-to-Debit payments are typically available within 30 minutes.
Real-Time Payments are performed by Cross River Bank, which holds funds on behalf of the Receiver of such transactions in one or more pooled custodial accounts. These funds are not subject to FDIC pass-through deposit insurance.