Sending Processor Token Information To Dwolla (Plaid API)

Hello,

Investii wants to allow users to move money from their checking/savings accounts to their connected investment brokerage accounts. Investii has recreated the “Dwolla account info” input box for our users to enter their investment brokerage account and routing number. What is the best way to pass this information to Dwolla? We have spoken with Dwolla reps in the past who told us we are able to pass along this investment brokerage info to Dwolla.

Note* We are using Plaid to connect financial accounts to our platform. Plaid creates a processor token for depository accounts. Since investment brokerages are not depository accounts, Plaid is giving us an error. Does Dwolla have an API that we can use to pass along the investment brokerage account information?

Please see the note we received from Plaid regarding the error message we received from them:


Message below is from Plaid rep

I took a look at the logs for the request_id ​ from the response provided, and confirmed that an INVALID_ACCOUNT_ID ​ error was returned when calling /processor/token/create . Upon further review, the account_id ​ specified in the request appears to be for a brokerage account as suggested, which will not be compatible with our Dwolla integration or any of our Auth Payment Partners.

The use of depository accounts is a requirement for processing interbank transfers via our Auth product, with our Dwolla integration further enforcing this requirement when creating a processor_token . If your testing of brokerage accounts is contingent on our Dwolla integration, please note that this behavior is intentional and these errors will subsist for any similar accounts.

Apologies for any inconvenience, but I hope this helps. Please follow up with us if you have additional questions or if there’s anything else we can do to assist you.

Best,
Steve
Plaid Support


If you can assist as soon as possible, it would be great.

Thanks,
Nishant

Hi Nishant!

You should be able to create a funding-source for these Investment brokerage accounts using the API - Dwolla API docs

You’d need to submit the Account and Routing numbers of the account via the API which will create an unverified funding-source on our end. If these funding-sources will only receiving funds, then there would be no need to verify them. You can do one of the following-

  1. Have the user enter their bank account and routing numbers directly, or
  2. Have the user go through Plaid link, and on the back end, send us the account and routing numbers to create a funding-source using the API.

Hi Shreya,

Thanks for the response. We will use the Dwolla API docs to create this function. I will respond to this email if we have any other questions.

Thanks,
Nishant

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