|
Title: . Post by: MicroGuy on May 04, 2013, 04:34:55 PM .
Title: Re: Dwolla | Different Rules for BitInstant? Post by: Gareth Nelson on May 04, 2013, 04:39:17 PM I'm glad that BitInstant is able to anonymously process Dwolla payments, but I was wondering if anyone knew how they get away with circumventing Dwolla's STRICT policy regarding identity requirements. For example I recently applied for a merchant account at Dwolla and was sent these instructions regarding their requirements: Quote Dear Dwolla Customer: Thank you for signing up for a merchant account with Dwolla. We greatly appreciate your interest in our product. However, due to the nature of your business; we require documentation on how you validate your customers. Specifically, your product is generally age restricted by Federal, State or Local law. Could you please provide documents of your policies, processes and procedures to collect and verify your customers’ identities? Specifically, the following data elements are to be collected and verified for each customer: First and Last Name Present Residential Address Date of Birth Social Security Number State issued identification or passport What service or internal process allows you to validate items 1-4? (e.g. TransUnion or VeriSign) What service or internal process allows you to validate item 5? (e.g. Lexis Nexis/ Idology) Regretfully, your account will not be fully active until we obtain, and approve these documents. Kind regards, Dwolla Compliance As a test, I just bought $20 in bitcoins using Dwolla to Bitcoin Address and there was no verification requirements whatsoever. If anyone can help me understand why this is the case I will show my appreciation with a little bitcoin confetti! Cheers! :) We don't, dwolla require our customers to verify Title: Re: Dwolla | Different Rules for BitInstant? Post by: Gareth Nelson on May 04, 2013, 05:02:45 PM Back when BitInstant started they didn't require a specific merchant account and now we've got enough volume that they seem to pay attention more so i'm sorry I can't offer you any better advice :(
Title: Re: Dwolla | Different Rules for BitInstant? Post by: joae1975 on May 20, 2013, 11:05:59 AM I heard USD transactions from a Dwolla balance to Bitinstant get flagged as fraudulent. However, transactions from Dwolla where Dwolla extracts from your bank account, like PayPal does, is not flagged. Is there any truth to this?
Title: Re: Dwolla | Different Rules for BitInstant? Post by: Gareth Nelson on May 20, 2013, 01:07:47 PM I heard USD transactions from a Dwolla balance to Bitinstant get flagged as fraudulent. However, transactions from Dwolla where Dwolla extracts from your bank account, like PayPal does, is not flagged. Is there any truth to this? No, we're considered a "high-risk merchant" (annoyingly - we've been trying to convince them otherwise for quite a while) so customers need a fully verified account. If anything, from our perspective it's better if you use your dwolla balance. Title: Re: Dwolla | Different Rules for BitInstant? Post by: Taccomc on May 20, 2013, 06:09:46 PM Hey Greg/MicroGuy/BitcoinRanger or whatever you want to call yourself. I want my $250 back or equivalent amount in bitcoin sent. My address 1JETrwVqkvKc8dyiJTq4hcxvJamTTpkgkX
I do not tolerate Scammers. Dan @ Dwolla contacted me today saying you took my $250 out BEFORE your account was suspended. |