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> My question would be, are individual Dwolla accounts protected on a per depositor basis? Or, is it just Dwolla Corp's own bank account which is protected unde
by jimrandomh 15y ago
> My question would be, are individual Dwolla accounts protected on a per depositor basis? Or, is it just Dwolla Corp's own bank account which is protected under FDIC.
The former. If it were the latter, then writing "Dwolla Deposits Are Protected By The FDIC and NCUA" on their web page would be fraud.
- eli 15y agoI'm almost certain you are wrong about that. Dwolla is not listed in the FDIC database.
- sgornick 15y ago"Dwolla Deposits Are Protected By The FDIC and NCUA" Yes, every dime you have in your account is protected by the FDIC and NCUA. The same way that amounts in your PayPal balance are protected. http://www.dwolla.org/help/dwolla-security-and-partner-overview/ http://www.dwolla.org/help/dwolla-security-and-partner-overv...
- eli 15y agoOK, I'm glad that their banks are insured, but if Dwolla goes bankrupt are you sure I'll get my money back? I'm not. PayPal does the same thing, but at least they're upfront about how it works: https://www.paypal.com/cgi-bin/webscr?cmd=p/gen/travelers-outside https://www.paypal.com/cgi-bin/webscr?cmd=p/gen/travelers-ou... And I don't keep money in my PayPal account either.