https://www.dwolla.com/tosReversals
The party receiving funds in a transaction may be subject to reversals occurring within the account if claims are made by the sending party or by the sending party's financial institution.
You understand and agree that:
● If there is a reversal of a payment to you, you will be liable to Veridian for the full amount of the reversed payment plus a fee in the amount of $15 ("Reversal fee"). The reversed payment plus the reversal fee is the "Reversal Liability."
● Reversals are debited by Veridian in the Veridian Holding Account and will be reflected in Your Dwolla User Account. /p>
● If You do not have a balance in Your Dwolla User Account that is sufficient to cover Your Reversal Liability, the remaining balance in Your Dwolla User Account (if any) will be used to cover the Reversal Liability, and You authorize Dwolla, acting on behalf of Veridian, to take any of the following actions:
1. Debit your attached Bank Account in the amount of the unpaid portion of the Reversal Liability;
2. Suspend Your User Account and require you to take immediate actions to repay the unpaid portion of the Reversal Liability; and/or
3. Engage in collection efforts to recover the unpaid portion of the Reversal Liability.
Show Posts
