TheSamba.com :: View topic

Sat Nov 12, 2011 1:08 am

I've been waiting a long time for something to come along and compete against Paypal. Finally, it's here; called Dwolla.
They charge only 25¢ per transaction, regardless of the amount. You can link your bank acct to your Dwolla acct and use it just like Paypal. You cannot use a credit card with it, that's how their fee is so low. One reason I like it is because there has to be actual MONEY in the Dwolla account for someone to pay you.

http://thenextweb.com/apps/2011/01/24/move-over-paypal-online-payments-just-got-social-with-dwolla/

https://www.x.com/devzone/articles/alternative-payment-systems-part-4-dwolla

http://blog.dwolla.com/dwolla-vs-paypal/

Has anyone signed up for this yet?

Sat Nov 12, 2011 3:43 am

Never even heard of it till now- going to look into it.

The only problem I see is that for people with so- so feedback, no feedback, etc. I like to fund with a CC in case there's a problem and the seller doesn't want to make it right. I usually just go ahead and use the bank account with familiar vendors or people I know or have dealt with before, but I like having that extra "hammer" in the case of an unknown unknown.

Sat Nov 12, 2011 10:01 am

I have not tried it or even heard of it but the lower fees part of it is cool.

Paypal needs more competition.

Ditto on what Tram said. I recently paid a bunch of "unknown" people via credit card for that same safety reason. I also try to use my credit card for anything large, even if it's safe, to get credit card rewards.

They seem clear that they specifically do not want credit card business though, they want the other business. Sounds good.

Mon Dec 05, 2011 12:42 am

I've completed my first deal through Dwolla now.
The total price was over $1k, the fee was just a little scrap of metal with George Washington on it. In this transaction I gave all the savings to the buyer. My buyer had already heard about Dwolla, and I think he already started the signup when I suggested it.

I'll have to agree with you guys about unknown or bad feedback people. A CC with PP is safer when you're a buyer.

When you know the person, or they have perfect feedback, Dwolla will reduce the seller's costs, so maybe they will cut you a deal. With my ads, I've had buyers make me an offer below my asking price. Whenever someone wants a price break, Paypal and their high fee is off the table.

I've added discounts in some of my ads for using Dwolla vs. Paypal.

Mon Dec 05, 2011 2:59 am

I just signed up for an account.

Hope it takes off, I’m paying a fortune in paypal fees every month……..Joe

Mon Dec 05, 2011 5:26 am

Thanks for the link Bruce.
I'd love to see a cheaper option than them.
Just wait, if Dwolla takes off, Paypal will just buy them out!

Mon Dec 05, 2011 5:56 am

I recently read about Dwolla but was not aware that it had progressed this far. Looks like I'll be signing up as well. Thanks for the reminder and the write-up of your experience, Bruce.

Mon Dec 05, 2011 6:29 am

Seems to be US only at the moment how did you register as a Canadian user Bruce?

Mon Dec 05, 2011 8:35 am

Ok, I have a question. I'm not quite sure how this works. Do you link your bank account to your Dwolla account and then the site displays how much you have in your bank account or do you have to send money from your bank account to the company to be posted in your "Dwolla account" before you can make a purchase?

Mon Dec 05, 2011 8:45 am

John Moxon wrote: Seems to be US only at the moment how did you register as a Canadian user Bruce?

yes i found out the same thing trying to register.

Mon Dec 05, 2011 9:35 am

There is always Google Checkout (soon to be Google Wallet). I have never had a problem with them.

Mon Dec 05, 2011 5:03 pm

The founder of Dwolla also started a high-end audio company called Elemental Designs that grew and thrived on awesome customer service and hard work and innovation. I personally haven't used Dwolla but I have worked with Elemental Designs a few times in the past. The people behind it are honest and truly obsessive in what they do and will go well above and beyond to make good on any issues (that you probably won't have anyways).

Wed Dec 07, 2011 12:03 am

WM971252 wrote: There is always Google Checkout ....
Google Checkout is irrelevant to this topic. It isn't used by us regular folk just trying to sell our junk. Google Checkout is for online retailers.

Wed Dec 07, 2011 12:05 am

Andrew wrote: .. or do you have to send money from your bank account to the company to be posted in your "Dwolla account" before you can make a purchase?
This is how it works. Just like Paypal when you don't have a credit card, or don't want to use a CC.

Wed Dec 07, 2011 12:06 am

John Moxon wrote: Seems to be US only at the moment how did you register as a Canadian user Bruce?
Shhhhhh!

After reading the requirements on their web site, I determined you don't have to be a citizen of the USA. You just have to have a bank account in the USA, and a mailing address in the USA.

Fri Dec 09, 2011 10:20 pm

Gary asked me to add Dwolla to the Classifieds methods of payments.

I changed the Paypal marker to be Paypal/Dwolla/etc.

Fri Dec 09, 2011 10:53 pm

Bruce wrote: John Moxon wrote: Seems to be US only at the moment how did you register as a Canadian user Bruce?
Shhhhhh!

After reading the requirements on their web site, I determined you don't have to be a citizen of the USA. You just have to have a bank account in the USA, and a mailing address in the USA.

Damned illegals! :evil:

Sat Dec 10, 2011 1:54 am

EverettB wrote: Gary asked me to add Dwolla to the Classifieds methods of payments.

I changed the Paypal marker to be Paypal/Dwolla/etc.
Wow, that alone is going to get the word spread faster than anything. I predict many sellers are going to get inquiries about Dwolla.

Tue Jan 03, 2012 11:00 pm

i too will be opting for Dwolla.

Never had PP rip me off yet, but i finally had enough today:

i called them about the new E-communications disclosure policy- just wanted an explanation about why the policy had changed. somewhere i had heard that the new requirement was the result of a federal mandate intended to improve income tax compliance.

on the phone, the PP rep- and yes even the supervisor- misinformed me about the federal mandate. they insisted that it had nothing to do with the IRS, and that the policy was changed only so you can see your transactions more easily in emails- and that they need consent to do this.

once i got off the phone, i found out thru research(first PP research which mentioned a new 1099-K reporting law, and then IRS research) that the requirement is federally driven.

i dont blame the reps(necessarily), because it is probably PP training these people to tell us lies. obviously, they dont want sellers to get cold feet about possible hidden costs of doing business. with ebay sellers, one more straw would surely break the camels back- since a "Buy it Now" transaction takes about 15% of the item's value from the seller(between the final value fee of 12% and the PP transaction fee of 3%)

Dwolla will also have to conform to this new law, but at least they wont be lying to us.

Tue Feb 28, 2012 4:48 pm

Any current problems with Dwolla?

I just signed up too but to get paid from a customer, do they also have to have a Dwolla account too?

WBp.

Paypal sucks as $20K and you get 1099 and more troubles......

IMO this should get a sticky up with Paypal......