One thing I haven’t been able to suss out from the API is the language of “Funding Source”, does the funding source only refer to the ability for that account to send money, or is it bidirectional, in the sense that setting up the funding source would allow access for a business verified account to both send and receive money when they set it up. The API docs don’t really describe what it does specifically enough for me.
The reason I’m asking is because I’m trying to specifically send money to registered businesses (specifically nonprofits) from our account in an ACH format and verify their accounts. It’s been a bit difficult to try to piece together who can do the following:
- Verify the account for KYC, so we’re sending to the correct individuals that we intend to using Dwolla’s API.
- Verify that the account is correctly attached to the EIN of the Business we’re trying to send to, and let us know if they do not match so we can send them money that they have accrued.
A traditional login/verify deposit pathway doesn’t quite work because it’s possible that someone could play third party and redirect the money illicitly into a personal account, which is why we need to validate the EIN directly with the bank account. I’m just trying to hypothetically go over the possibility that someone with knowledge of who to validate can validate themselves, but put in a bank account to receive ACH without being the same one as the EIN of the business as the base check here.
Is that what happens in the process of customer & funding source validation?