Bitcoin Forum

Well I was going to reply to another thread outside of the newbie forums about Dwolla but why not do it here.

Anyone else had a miserable experience with them? Here's mine.

Signed up 6 weeks ago.
Two weeks for verification process.
Suckered into $6 in fees for using Dwolla Instant once (don't do this, it's not worth it)
Huge pain just to cancel Instant
Try to make a third deposit, told that I needed to link my facebook account and give them full access to post on my behalf or I can't deposit
Made fake facebook account just so I could use the stupid service
Get snail mail saying my account would be disabled soon unless I call them with more information
Call them, they ask me if I made an account, yes, duh. They say no problem
Get email a few days later saying my account is suspended with no reason given and to call them
Call them 30 minutes before their business hours end, then after being on hold for 30 minutes I get a new message saying they're closed

Are you freaking kidding me? What a horrible company.

An easier way to get bitcoins is needed.

https://www.bitinstant.com/
(and I have nothing to do with them)

Just a user who's been suitable impressed with the speed and breadth of their service so far.

The requirement that you link up a social media account was a horrible decision that Dwolla made, but it is one they've since reversed themselves on and that is no longer necessary.

Because Dwolla's fees are so low, each instance of fraud costs them more than the revenues they get from dozens or hundreds of legit customers, even just including administration costs.  So these actions are a balancing act to allow them to be able to continue provding a cash-like ACH intermediary service.

There is this concept called The Designers Holy Triangle ("Fast, Cheap,  Good -- Pick Any Two")

https://i.imgur.com/ugnFf.jpg

We need a modification of that for describing most of The Bitcoin Ecosystem:

  Fast,  Cheap,  Good

Pick Just One!   :)

To be fair, without Dwolla Bitcoin would not have risen to where it is today.  It would help if Dwolla were to be around tomorrow as well.  If they need to take these precautions against fraud, it's probably because these measures were absolutely necessary for their organization to move forward to be able to compete against PayPal, Square, Google Wallet, ISIS (NFC), etc.

That is frustrating to read.  Just signed up for dwolla over the weekend.  You need to link up a facebook account to use it?

well, I was told by Dwolla if I didn't have another account to add then my funds couldn't be accessed until May1st. So I added another account. Then I didn't enter the deposits they made quick enough (less than 24 hours). So they suspended my account AFTER Taking 300 dollars out of my checking account first...two days before May 1st. I can't get anybody to return my communication. What in the hell.

Dwolla seems easy so far. Sent in some cash to get-bitcoin.com ... now im waiting on them almost a week. I am also glad they removed the social network requirement.

I use Dwolla all the time. I've been using them for about 5 months and have not had any problems. I was not asked for all the verification stuff like facebook.
Transfers from MT.GOX to Dwolla have been couple hours at most and transfer of cash out to my bank account in 24hrs. I personally have had a great experience with them here in the USA.

I've used dwolla only once so far, on to my second transaction. No problems except for the wait times, I agree doing the 'Instant' thing isn't worth it, particularly cause I'm starting out low volume.

-s

Now I'm on to my second transaction, and dwolla AML stuff is preventing me from sending funds on to MtGox. Its frustrating that they didn't let me know I needed verification BEFORE I sent them my money... Its also frustrating that they want SSN and Photo ID. Still, their rates can't be beat...

It seems like this current structure lends itself to local bitcoin dealers making the exchange.

-s

Here's a forum thread where people want to trade their MTGUSD and Bitcoins for your Dwolla USDs.
 - http://bitcointalk.org/index.php?topic=78512.0

Pretty angry.  Deposited $75 into my new Dwolla acct, waited a week for it to clear, and now they want me to wait 30 days before I can exchange it with mtgox.  Will definitely not be using Dwolla ever again.

I pm-d you, I can do the dwolla transfer to mtgox for you. I haven't done this before so better to start small both to get the hang of it and test the ropes. You could also try to find someone else who has more experience. I PM'd you my email if you want to try it.

-s

Well, after thirty days that restriction is no longer in place for you so if you ever do wish to resume using Dwolla, it will be a quicker path by then.

is the 30 day restriction only for bitcoin exchanges?

Any business that deals with Bitcoin, yes.