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Author Topic: Why does Dwolla take so freaking long to transfer funds?  (Read 2421 times)
shotgun
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August 09, 2011, 12:00:16 AM
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I put in a deposit request from my bank (bofa bastards) on 8/4 and it's still processing. Why does an otherwise instant process take 4+ days? This is pissing me off. Is there some way to make this process faster? Anyone else have the same issues with dwolla or know of a faster method to get money *into* mt.gox?

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August 09, 2011, 01:24:53 AM
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I put in a deposit request from my bank (bofa bastards) on 8/4 and it's still processing.

they might just have gotten cautious ... the longer they delay releasing the funds the better the chance that fraud will be detected while they still have control of the money.  

today would be the second business day after you made your transaction -- ACH *from* a bank is going to be third business day minimum.

dwolla's solution lies with fisync, but only a few banks are using it or looking at using it even, for now.
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August 09, 2011, 01:33:28 AM
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I put in a deposit request from my bank (bofa bastards) on 8/4 and it's still processing.

they might just have gotten cautious ... the longer they delay releasing the funds the better the chance that fraud will be detected while they still have control of the money.  

+1

It's normally an instant process for them to be made aware of the transaction.  If you look at your bank statement you will see that a transaction is listed as PENDING for several days.  This usually means you can cancel the transaction.  Dwolla should have never been transacting funds before transactions were fully approved for this very reason.

'Instant' transactions aren't instant, and when you get a 3rd party involved you should be suspicious of things speeding up.  This is one reason why I have never bought into the Dwolla hype.

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