Dwolla Customer Reviews

Dwolla is a financial technology company headquartered in Des Moines, Iowa that provides bank payment infrastructure through an API. Founded in 2008, the company focuses on Automated Clearing House (ACH) transfers, Same Day ACH, and real-time payments via the RTP Network and FedNow Service. Dwolla sells primarily to platforms and enterprises that embed bank-to-bank money movement inside their own applications rather than to individual merchants accepting card transactions.

Products and Services

The Dwolla platform exposes a single API that supports standard ACH, same-day ACH, and instant bank transfers, along with features such as mass pay, webhooks, tokenization, bank account verification, and an optional embedded digital wallet for holding funds on a customer’s platform. Dwolla does not process credit or debit card transactions.

Industries Served

Dwolla markets its platform to fintech lending, real estate and property management, insurance, healthcare, and manufacturing customers, among others, that need to move funds between U.S. bank accounts at volume.

Pricing Model

Dwolla no longer publishes fixed tier pricing on its website. The company markets its plans as custom pricing tailored to a customer’s transaction volume, payment rails used, and integration needs, with engagement starting through a sales conversation rather than self-serve signup.

Reported Rates

Third-party reviews and software listings have reported earlier published tiers that included a pay-as-you-go option charging roughly half a percent per transaction with a small per-transaction minimum and cap, mid-tier monthly plans, and an enterprise plan around two thousand dollars per month before fully custom enterprise pricing. These figures are reported by user reviews and expert content rather than confirmed on the current Dwolla pricing page, and prospective customers must contact Dwolla directly for a current quote.

2016 CFPB Consent Order on Data Security

In March 2016 the Consumer Financial Protection Bureau issued a consent order against Dwolla, ordering the company to pay a one hundred thousand dollar civil penalty for misrepresenting its data security practices to consumers. The CFPB found that, between January 2011 and March 2014, Dwolla told users its network was safer than credit cards, that consumer information was securely encrypted and stored in a bank-level security environment, and that its practices exceeded industry standards. The agency concluded that Dwolla did not in fact encrypt all sensitive consumer data, did not meet Payment Card Industry standards, and had not employed reasonable measures to protect consumer information. The order also required ongoing semi-annual data security risk assessments and a board-level compliance plan. The case was the CFPB’s first enforcement action focused on data security. CFPB enforcement record.

Ownership/Leadership: Dave Glaser (CEO)

Address: 909 Locust Street, Suite 201, Des Moines, IA 50309

Phone: (888) 289-8744

Website:dwolla.com