DWOLLA vs PAYPAL

[PhilipCohen]

Both of these two are middlemen that ride precariously on the back of the world’s retail banks’ direct debiting/crediting system via their own licensed retail bankers, in the case of PreyPal, via the infamous Wells Fargo Bank, in the case of Dwolla, via the Veridian Credit Union; neither has any “system” of their own; indeed, neither is a “bank” and if either fail, neither has any guarantee or FDIC insurance or statutory protections for payers’ funds. Dwolla is undoubtedly likely to be marginally safer because it is not involved with eBay Inc., demonstrably the greatest calculated facilitator of wire fraud on consumers that the world is ever likely to know ... http://[Suspicious link removed]/11F2eas

And then there is the ugly reality for consumers, particularly smaller payees, dealing with the clunky, unscrupulous PreyPal ... http://[Suspicious link removed]/UVXx53

Regardless, hello "MasterPass", goodbye clunky PreyPal—it has not been nice knowing you ...

[WuLabsWuTecH]

Advantage of Dwolla is the low fees and the fact that you can automate accounts.  I keep no balance in Dwolla as all incoming transfers go out to my bank account immediately.  If they ever go under, my risk is small, I only lose what I have in there in the miniscule amount of time of when the transfer comes in and when it ACH's out.  Unless everything gets frozen and the ACH doesn't clear.  In that case my window is 2-3 days.  But I wouldn't use Dwolla for anything that big anyways.  Paypal I only used because I'm forced to use it.  But it's a pain having to manually queue up withdraws and having to wait a week for them to clear with PayPal.  Because of the extra fees and extra work I have to do for PayPal, I charge customers a premium to pay with paypal.  I do not accept Dwolla payments at this time because it's so new and I doubt many people would use it.  Dwolla is for personal use only right now for me.