Dwolla is an online payment platform that enables merchants to accept automated clearing house (ACH) payments and white-label bank transfers. Its features include mass payments, balance management, tokenization, global account protection, and automated notifications, returns, and corrections. Fees per online transaction start at 0.5% (min. 5¢), and it’s best for those who process a lot of recurring ACH payments.
Dwolla Pros and Cons
Easy to learn and use
Mixed reviews on the helpfulness and efficiency of its customer support team
High monthly subscription fees
Who Dwolla Is Best For
- Those who process a lot of ACH check payments may benefit from Dwolla’s native support for standard and same-day ACH transactions. Depending on your chosen plan, you may also authorize a bank account to debit for subscriptions, recurring payments, and/or on-demand billing.
Dwolla’s pricing page shows a Pay-As-You-Go plan with fees that start at 0.5% per transaction and two subscription options that start at $2,000 per month. Aside from fixed transaction fees, the plans also differ in premium features such as custom transaction limits, balance accounts, and custom feature development.
Fees per Transaction
Starts at 0.5%*
(min. 5¢, max. $5)
Custom flat rate
Custom flat rate
*Additional fees vary depending on the type of customer: verified ($2), unverified ($2), or receive only ($1).
All plans come with two-deposit, 24/7 identity, and instant bank verification. You may also utilize mass payments, app review, real-time webhooks, and tokenization by default.
This has all the basic features and percentage-based pricing. Unlike Dwolla’s subscription plans, Pay-As-You-Go has transaction limits (either $5,000 or $10,000 per transaction or week) depending on the type of customer.
Create labels and customize your transaction limits—process next day, same day, wire, and push to card transactions. This option offers software development kit (SDK) support, custom notifications, document verification, dedicated engineering support, and a private Slack for internal discussions and customer service.
This is the only subscription plan that can process real-time payments (RTP). You also get a custom ledger, money services business support, self origination, custom feature development, and the option to maintain balance accounts.
Dwolla Alternatives 2020
Dwolla offers solutions for processing ACH payments and setting up reliable recurring payments. Let’s take a look at some of its features below.
Instant bank verification: This is built into the Dwolla platform and applies to US banks and credit unions. You may also verify banks via micro deposit if your customer owns an account at a smaller financial institution.
Mass payments: Dwolla enables you to send thousands of payments from your bank or master balance, all at the same time. The platform utilizes an easy-to-use application programming interface (API) endpoint for your convenience.
Balance accounts: You and your customers may maintain a platform balance, as long as it’s associated with a verified customer account or Master Balance.
Dwolla dashboard: An account admin can manage Master Balance funding sources, billing sources, and more.
Tokenization by default: Instead of saving payment information, all customer interactions and transactions within Dwolla produce unique identifiers (tokens) that may be used later on for recurring payments.
Data security: Your customers are protected because Dwolla helps you with your fraud program by detecting accounts that are not in good standing or have been flagged for suspicious activity. Dwolla also uses OAuth authentication and scoping, which means sensitive information is available only through a temporary and constantly changing token.
Summary of Dwolla Reviews
As of this article’s writing (May 11, 2020), there are not a lot of up-to-date Dwolla reviews online. However, a handful of users reacted positively to its integrations and its robust API, while others had conflicting accounts on the responsiveness and helpfulness of its customer support team. If you are a past or current Dwolla customer, then leave a review to help those who are deciding whether or not to use the software.
Dwolla Frequently Asked Questions (FAQs)
Which third-party applications does Dwolla integrate with?
The platform integrates with Slack, Apto, QuickBooks, Plaid, and Sift.
What is contained in Dwolla’s dashboard?
Dwolla’s dashboard gives you access to trends, transaction history, and webhook history. You may also view your customers, initiate transfers, and manage your team members, master balance, and API.
Can I personalize my transaction emails?
Yes, you may modify your emails and notifications based on your brand and/or company image.
Our Top Payment Gateway Picks
If you aren’t sure if Dwolla is right for you, then this article on the best payment gateways is a review of our top choices. Our team looked at a variety of solutions and narrowed our recommendations down based on the fees, security, ease of use and set up, sales channel served, and features among others.