Dwolla Releases Same Day Bank Transfer Capability

March 6, 2017         By: Mike Dautner

Dwolla is back in our news feed with an interesting update on hand.

Known to most as an SaaS platform that moves billions of dollars for developers and businesses of all sizes, the company announced the availability of its all-new same day bank transfer capability.

This new processing system is a far cry from the typically two to four business day wait time that traditionally plagues bank transferring processes-ACH transactions in particular. This enhancement allows eligible businesses to deliver funds to an end user’s bank account within 24 hours.

Dwolla at this juncture, is the only true API in the marketplace, to date, to offer “Same-Day” ACH capabilities.

”Whether it’s making emergency payouts, improving customer satisfaction through faster refunds, or allowing partners to capture float or vendor discounts, the addition of Same Day ACH to Dwolla’s Access API provides our partners with another competitive advantage for them to own and apply as they see fit,” said Ben Milne, CEO and founder of Dwolla.

The update to this capability leverages Dwolla’s full suite of support and risk mitigation systems, in addition to a national September 2016 rule-change to the nation’s underlying bank transfer system made by NACHA.

“As a marketplace that buys and authenticates luxury handbags, faster payments create new efficiencies and benefits felt by both us and our customers,” said pilot partner and Rebagg CEO, Charles Gorra. “Same Day ACH with Dwolla only took a few hours to configure and has helped speed up payment turnaround times, made it easier to manage our books and deliver a great customer experience.”