Jump to content
Sign in to follow this  
SuperTramp

[Dwolla Users] Dwolla Withdrawing Services For Virtual Currencies.

Recommended Posts

Received this emal from Dwolla today:


            Dear Dwolla Account Holder,

As you know, Dwolla does not sell, accept, mine, value, take possession of, or hold Bitcoin or any other virtual currency product, and none of Dwolla’s users transact business with Dwolla using Bitcoin or any other virtual currency product. However, recent interest involving virtual currency and its exchanges has created uncertainty and confusion around virtual currency, and Dwolla's relationship with a small number of its exchanges. This has forced Dwolla to reassign resources, funds, and services.

As Dwolla gears up for a new stage of growth, we recognize that we can no longer sustain this merchant base (.1 percent of Dwolla merchants) and its unique needs, and that attempting to do so jeopardizes both of our communities' starkly different, but similarly ambitious, vision for improving payments.

Effective October 28, 2013 at 4pm CT, Dwolla will be withdrawing its service offerings to virtual currency exchanges and virtual currency related services.

What does this mean?
  • Your account, and its functionality, will remain unaffected. However, you can deactivate your account from within your Dwolla dashboard, if you so choose.
  • Dwolla aims to provide its users and the few affected merchants with the guidance necessary to ensure a smooth transition. To do that, we encourage users to over-communicate with our support team, report any suspicious activity, and revisit our terms of service to ensure uninterrupted services.
What is the timeline of events?
  1. October 10: Only existing users with a 30-day history with Dwolla will be able to send funds to merchants affected by this change.
  2. October 15: Affected merchants will be limited to sending money only, and will no longer be able to receive funds from customers. They will be able to issue refunds to customers at this time.
  3. October 28: Affected merchants’ accounts will be suspended. No further activity will be provided.
  4. October 29: Provided no security or fraud concerns, Dwolla will transfer any of the remaining funds inside the affected merchant's Dwolla account to its linked bank account.
The decision to remove anyone from the network -- no matter the circumstances -- is not something Dwolla takes lightly. We are grateful for the opportunity to service and learn from these users. We wish the community and its pioneers the best.

Sincerely,
Dwolla Support

Share this post


Link to post
Share on other sites

So basically if we are in the states the quickest and easiest way to buy/sell bitcoin is coinbase.com?  Seems like it at this point.  I really hope that option isn't lost one day  0_o

Share this post


Link to post
Share on other sites

So basically if we are in the states the quickest and easiest way to buy/sell bitcoin is coinbase.com?  Seems like it at this point.  I really hope that option isn't lost one day  0_o

 

I think there is Bitstamp as well? I've always stuck with Localbitcoins and craigslist tbh

Share this post


Link to post
Share on other sites

I read somewhere that Dwolla was doing chargebacks on exchanges causing several of thousands of dollars in losses for those exchanges who already sent the people there bitcoins.

 

Better off without dwolla.

Share this post


Link to post
Share on other sites

Create an account or sign in to comment

You need to be a member in order to leave a comment

Create an account

Sign up for a new account in our community. It's easy!

Register a new account

Sign in

Already have an account? Sign in here.

Sign In Now
Sign in to follow this  

×

Important Information

By using this site, you agree to our Terms of Use.