Dwolla realtime payments

Posted by gboruk on Monday October 07, 2013 @12:42PM
from the blog.dwolla.com dept.

http://blog.dwolla.com/register-for-beta/

( 4 comments | 23 points | on HN )

Re:Dwolla realtime payments by toomuchtodo on Monday October 07, 2013 @01:02PM (#6509570)

Are funds across all users still co-mingled in one "real" account at a credit union that isn't FDIC insured?

[ Parent | on HN ]

Re:Dwolla realtime payments by jrs235 on Monday October 07, 2013 @01:39PM (#6509843)

I'm trying to figure out what your number one concern is?

Is it co-mingled funds?

Is it lack of insurance?

Or is it lack of the FDIC?

You won't find any credit union insured by the FDIC. Credit unions are insured by the NCUA.

[ Parent | on HN ]

Re:Dwolla realtime payments by toomuchtodo on Monday October 07, 2013 @02:15PM (#6510083)

My primary concern is that its a financial institution that is trying to pretend its only a payment processor, with no recourse for getting your funds back if things go sideways.

Its great what they're doing; it'll show real banks how to catch up.

[ Parent | on HN ]

Re:Dwolla realtime payments by pppp on Monday October 07, 2013 @01:30PM (#6509768)

Anyone considering doing business with Dwolla should read up on how they treated their customer TradeHill. (Google it). The internet has a long memory.

[ Parent | on HN ]