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I believe the initialing bank will still hit the account holder with a fee to wire transfer to Dwolla.
by noxryan 13y ago
I believe the initialing bank will still hit the account holder with a fee to wire transfer to Dwolla.
- continuations 13y agoI can transfer money from my bank account to my paypal account with no fee. Why is there a fee to transfer money to Dwolla then?
- jeffasinger 13y agoIt's free via ACH which Dwolla offers, however if you choose to use a wire transfer, then you have to pay whatever rate your bank charges.
- noxryan 13y agoThat is considered an ACH transfer, which is the same way that you normally fund your Dwolla account. A wire transfer allows larger amounts and is much quicker but usually has significant fees attached to it. ( As well as some other differences) http://en.wikipedia.org/wiki/Automated_Clearing_House http://en.wikipedia.org/wiki/Automated_Clearing_House http://en.wikipedia.org/wiki/Wire_transfer http://en.wikipedia.org/wiki/Wire_transfer
- continuations 13y agoSo can I transfer money into my Dwolla account with ACH, and then wire transfer that money to someone's bank account (possibly oversea)? That way the whole process would be free.
- noxryan 13y ago"Dwolla now supports wire transfers for deposits." It looks like wire transfer is only supported for depositing money into Dwolla.