Friends May Now Make Payment with Dwolla Credit
With the help from Comenity Capital Bank, Dwolla has expanded Credit to enable user-to-user money transfers.
Now, by applying for a line of credit with Comenity Capital Bank, you will be able to access your funds in order to pay for the items you desire from the merchants you desire.
In addition, you can use Credit to make payments to friends and family. By punching in an email address or a phone number you can make a payment using Credit as your funding source.
Credit makes it possible for individuals to have instant access to funds, in the process avoiding the usual three to four business days in which you must wait for bank-funded transfers to appear in your Dwolla account.
Once you access the funds necessary to make the payment, simply pay off your balance by the determined due date on your monthly billing statement.
The really awesome news for users is that there is no activation or transaction fees involved when using Credit to pay friends and family. You may send up to $500 in one transfer to another Dwolla user—a $3,000 monthly limit applies.
Dwolla has designed an easy to use, interchange-less credit system, which caters to the user. Putting to rest the previous card data woes, putting the Internet and your device to work.