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I can't believe Dwolla took a 30k risk for $0.25. Their risk management just isn't priced into their fees.
by wiredfool 13y ago
I can't believe Dwolla took a 30k risk for $0.25. Their risk management just isn't priced into their fees.
- dusing 13y agoIt's very slow and they wait until its "in the bank". So the whole business model of Dwolla is low risk.
- wiredfool 13y agoIf they do ACH, it's never really settled, it just hasn't returned yet. Some classes of returns are limited to 3 days, some 60, and some can be clawed back a year later. Their proprietary exchange might have different rules, but iirc, it's not very widely distributed yet.
- fnordfnordfnord 13y agoWhat risk? They hold your money for half a week or more.
- wiredfool 13y agoUnauthorized transaction returns can take 60 days. Even with the most iron clad auth agreement, people will still claim that it's unauthorized.