Dwolla.com - Terms Of Service

Terms Of Service from Dwolla.com. The live version of this document is available at https://www.dwolla.com/tos?nolayout=true. This document is a part of Docracy's Terms of Service Tracker project, which tracks changes to terms of service and privacy policy documents of many of the world's top websites.

Welcome to the Dwolla System. Dwolla, Inc. has developed payment software that is used by a financial institution partner to make it easy for users to send and receive money online without all the fees of traditional systems.

Dwolla, Inc. provides its registered users with access to its software platform, and acts as an agent of a financial institution partner in Dwolla’s provision of funds transfer services All actions taken by Dwolla in regards to the transfer of funds are done so on behalf of a financial institution partner.

Although we would love to have a one page terms of service that was comprised of easy-to-read bullet points, unfortunately the realities of the legal world make that nearly impossible. So, please bear with us through all the legalities of this User Agreement-although we couldn't keep it to one page, it is important You read this User Agreement in full and understand the terms and conditions that govern our services.

Guest Checkout

In addition to the terms and conditions otherwise provided for in this Agreement, Users who utilize Dwolla's Guest Checkout Service (described below) agree to and accept the terms and conditions of each of the paragraphs below. Such Users are referred to as "Guests" or "Receivers" as defined above.

  • If You are a Guest, You represent that You have read and agree to all of the terms of this Agreement applicable to the Guest Checkout Service (without limiting Your other commitments under this Agreement). The Guest warrants and represents that he/she (i) is over 18 years of age, (ii) is using a valid US bank account, and (iii) is authorized to use the bank account.
  • In order to use Dwolla Guest Services, You must be directed to a guest payment screen by Your Receiver (an established Dwolla customer).
  • The Guest authorizes Us to perform debits and credits to/from the Guest's bank account specified by the Guest through the Guest's use of the Dwolla System.
  • If You are the Receiver, You hereby authorize Us to perform debits and credits to Your Dwolla account.
  • The Guest and Receiver authorize Us to resolve any disputes.
  • You understand that (i) the Guest Checkout service is being provided on behalf of the Receiver (and established Dwolla Users) as an electronic funds transfer processing service rather than a bank service. You also understand that We are not acting as a fiduciary, trustee, money transmitter, or providing any type of escrow service with respect to Your funds, but only acting as the Receiver's agent.
  • To the fullest extent permitted by applicable law, this Agreement and any other agreements, notices or other communications regarding Your transaction and/or Your use of the Service, may be provided to You electronically and You agree to receive all such information from Us in electronic form. Information may be posted on the pages within the Dwolla System and website in electronic form.
  • All information in either electronic or paper form will be considered received by You no later than forty-eight (48) hours after posting or delivery.

Rights and Requirements to Use the Dwolla Guest Checkout Service

For the Sender:
Personal Information

You must give Us the requested information that is current, true, accurate and complete. You are not permitted to use this Service on behalf of another party or use an unauthorized name. If We determine that any of the information You provide is outdated, false, inaccurate, or incomplete, either of Us may terminate Your use of the Guest Checkout Service immediately and for all future use. This action on Our part does not limit other remedies either of Us may pursue to recover costs, losses, or other expenses either of Us incurs as a result of the information or lack of information You provide.

Upon providing Dwolla with Your information, You are authorizing it, directly or through third parties, to make any inquiries We consider necessary to confirm Your information and to provide such information to the Financial Institution Partner. This may include the use of fraud-screening services to verify the information You provide as well as ordering a credit report and performing other forms of credit checks including verification against third party databases.

Bank Account Information:

You must provide Us with Your routing and account number associated with Your bank account from which funds are to be withdrawn. If We find that Your account is closed or has insufficient funds, Your transaction will not be processed. Please be advised that We reserve the right to reject any accounts at certain banks for the use of our Dwolla System. In addition, We may require additional information and confirmation at Our sole discretion or at the discretion of Your Receiver and Us. In general, consumer and business checking and savings accounts are permitted.

Right to Refuse Payment:

When You send a payment/transfer to a Receiver upon their direction through the Dwolla System, that Receiver is not required to accept the payment. The Receiver is free to return payments/transfers or, in some cases, to use the Dwolla System to reject or deny payments that You have sent. You understand that We will not be liable for any damages resulting from a Receiver's decision not to accept a payment made through the Dwolla System. Any disputes You may have related to a refusal by a Receiver should be handled directly between You and the Receiver. Any payments through the Dwolla System that are denied or unclaimed by a Receiver will be returned to the Sender either on the date of such denial, or within 30 days from the date the payment was originally sent, whichever is earlier.

For the Receiver:
Authorize Dwolla as an Agent

You agree and authorize Us to act as an agent on Your behalf to transfer to electronically debit the Senders bank account and credit the funds to Your Dwolla account.

Authorizations for Chargeback:

You understand that We do not warrant the transactions and that these transactions are subject to ACH chargeback processes. You agree and warrant that any chargebacks received by Us can and will be debited from Your Dwolla account and if such funds do not exist a debit for the chargeback amount will be placed against the bank account to which the funds were withdrawn.

For Dwolla and the Financial Institution Partner:

On behalf of the Receiver, We shall make reasonable efforts to ensure that requests for Dwolla System transactions and the related electronic debits and credits involving bank accounts are processed in a timely manner. Many factors outside the control of the Receiver and Us may contribute to when Your Receiver will actually consider the funds to have been received. For this reason, we recommend that You schedule all Dwolla System transactions so that the estimated settlement date is at least twenty-four hours (24 hours) before the actual due date that You would like the transaction to clear. Although the estimated settlement date is shown to You, We do not make any warranties regarding the amount of time needed to complete processing with Your Receiver. Neither Dwolla, the Financial Institution Partner nor Your Receiver shall be liable for any actual or consequential damages arising from any claim of delay of Dwolla transactions due to any number of reasons, including but not limited to the following:

  • Insufficient funds in Your designated bank account or available credit on Your credit/debit card account to complete the electronic payment request;
  • Failure to provide correct or complete personal or Receiver information; or
  • Other circumstances beyond Our control (such as but not limited to fire, flood, earthquakes, war, riots, acts of terrorism, delays in the banking system or interference from a third party source).

In addition, We and/or Receiver, at our sole discretion reserve the right to restrict electronic payment requests from a Sender's designated bank account for any one of the reasons listed below:

  • Unauthorized or unusual use of Your designated bank or credit/debit card account;
  • Transfer or receipt of fraudulent or suspected fraudulent funds or credit/debit card use;
  • Detection of excessive disputes or reversals, or "kiting" type attempts;
  • Failure to cooperate in an investigation, dispute, or provide additional requested information when requested;
  • Any noncompliance with the terms and conditions of this Agreement;
  • Failure to confirm any personal or bank account information previously provided by Sender associated with the use of our Service; or
  • Insufficient funds, available credit, returns, or reversals of any kind related to Your bank account or credit/debit card account.

We will use reasonable efforts to research and resolve such matters as specified above to reach a conclusion as quickly as possible for all parties involved.

In the event there is a dispute covering a specific transaction, We may restrict the electronic funds or credit related to that particular transaction. We may also restrict all transactions for a designated period of time or until further notice to Sender to protect Ourselves and/or the Receiver against the risk or returns or reversals. If needed, We may cancel Your transaction by notifying You and sending You a check or credit for credit card payment for any funds owed to You at the address You provided in the Dwolla System. At a later point, if it is determined that You are entitled to the amount in dispute, additional payment will be made accordingly.

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