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  #1  
Old 07-12-2013, 02:07 PM
Pooka
 
Join Date: Sep 2005
Posts: 659
Dwolla... Any opinions?

Dwolla appears to be a PayPal type site that is far cheaper than PayPal.

Anyone use this and have an opinion? A friend of mine asked about it and I am not in a position to comment, but I told him there were people here who might be able to and they would give opinions he could trust.

Pros and Cons anyone?
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  #2  
Old 07-13-2013, 09:26 AM
elchivito's Avatar
ya valió madres!
 
Join Date: Aug 2009
Location: Rancho la Chingada
Posts: 478
I haven't used it but it's interesting.
pro: very low fees. A quarter.
con: who accepts their payments? Hardly anyone.

I signed on with PayPal when they were about this size. Nobody'd heard of it, they were giving new signups 10 bucks just to join. I've never had an issue with PP but sure don't like their fee structure.
Looks like Dwolla is growing. For now it appears that it might be worth testing if you have someone else with whom you frequently exchange money. Shopping online? Not so much.
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_________________________________________
84 Euro 240D 4spd. 220.5k sold
04 Honda Element AWD
1985 F150 XLT 4x4, 351W with 270k miles, hay hauler
1997 Suzuki Sidekick 4x4
1993 Toyota 4wd Pickup 226K and counting
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  #3  
Old 07-13-2013, 09:53 AM
neumann's Avatar
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Join Date: May 2002
Location: USA
Posts: 858
I just signed up based on your posting. I like what I see in their profile data and seems to be something that will catch fire very quickly.

I have also been with paypal for ages, almost from their very beginning. I see an acquisition in the works and a big payoff for Dwolla.
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  #4  
Old 07-13-2013, 10:12 AM
t walgamuth's Avatar
dieselarchitect
 
Join Date: Apr 2005
Location: Lafayette Indiana
Posts: 22,330
Its always good to have alternatives.
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Diesel loving autocrossing grandpa Architect. 82 240d refurbishing to put back on road, 2-95 e300 diesels, 03 Dodge 3/4 ton with cummins six speed; I have had about 34 benzes. I am building a 39 Studebaker Coupe Express pickup street rod at the moment in which I have had installed a 617 turbo and a five speed manual.....
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  #5  
Old 07-13-2013, 10:21 AM
TwitchKitty's Avatar
Just fix it
 
Join Date: May 2004
Location: Varies
Posts: 2,226
Quote:
Originally Posted by neumann View Post
I just signed up based on your posting. I like what I see in their profile data and seems to be something that will catch fire very quickly.

I have also been with paypal for ages, almost from their very beginning. I see an acquisition in the works and a big payoff for Dwolla.
How much personal information did they require? Like opening a bank account?
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  #6  
Old 07-13-2013, 10:42 AM
elchivito's Avatar
ya valió madres!
 
Join Date: Aug 2009
Location: Rancho la Chingada
Posts: 478
Quote:
Originally Posted by TwitchKitty View Post
How much personal information did they require? Like opening a bank account?
name, email, U.S. phone, physical address and SS number to verify your existence as a real person. They claim they do not pull credit. You have to connect to a funding source before actually sending any $$, but not to set up your account. I'm going to set my son up as well. If I refer him we both get ten bucks worth of transfer credits. At .25 apiece, that's 40 transfers for free. Then we'll do some tests sending a few bucks <$10 back and forth to test the timing.
__________________
“No lists of things to be done. The day providential to itself. The hour. There is no later. This is later. All things of grace and beauty such that one holds them to one's heart have a common provenance in pain. Their birth in grief and ashes.” - Cormac McCarthy


_________________________________________
84 Euro 240D 4spd. 220.5k sold
04 Honda Element AWD
1985 F150 XLT 4x4, 351W with 270k miles, hay hauler
1997 Suzuki Sidekick 4x4
1993 Toyota 4wd Pickup 226K and counting
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  #7  
Old 07-13-2013, 10:46 AM
elchivito's Avatar
ya valió madres!
 
Join Date: Aug 2009
Location: Rancho la Chingada
Posts: 478
Doing some reading, one of their principal investors is Veridian Credit Union of Iowa, the largest CU in the country.
__________________
“No lists of things to be done. The day providential to itself. The hour. There is no later. This is later. All things of grace and beauty such that one holds them to one's heart have a common provenance in pain. Their birth in grief and ashes.” - Cormac McCarthy


_________________________________________
84 Euro 240D 4spd. 220.5k sold
04 Honda Element AWD
1985 F150 XLT 4x4, 351W with 270k miles, hay hauler
1997 Suzuki Sidekick 4x4
1993 Toyota 4wd Pickup 226K and counting
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  #8  
Old 07-13-2013, 11:12 AM
Banned
 
Join Date: May 2002
Location: Blue Point, NY
Posts: 25,397
Quote:
Originally Posted by elchivito View Post
SS number
Unless I need to borrow money from a bank or setup a new account at a bank, nobody gets this number.

Way to risky to be providing such a number to an unknown entity via the Internet, IMHO.
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Old 07-13-2013, 11:12 AM
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