Unable Send a "Loan" Request

Hi Dwolla Team!

First, thank you for your great support. We really appreciate it!

We’re having an issue testing loans in our sandbox account. Here’s the details:

You can see we’re requesting “loan”, but the error is saying “General Ledger”. I’m unsure if loans is not on for our sandbox account, or if this is a bug:

This was the request body my team used:
request_body = {
name: ‘Test Loan Account’,
routingNumber: ‘222222226’,
accountNumber: ‘123456789’,
bankAccountType: ‘loan’
}

They this error for both user types (Verified Customers and Receive Only Customers)
{“code”=>“ValidationError”, “message”=>“Validation error(s) present. See embedded errors list for more details.”, “_embedded”=>{“errors”=>[{“code”=>“Invalid”, “message”=>“General Ledger funding sources are not currently enabled.”, “path”=>"/bankAccountType", “_links”=>{}}]}}

Thanks!

Andrew

Hi @andrewhartman – thanks so much! We’re glad to have been able to support you in your integration!

Ah the error seems to have been triggered due to attempting to add a loan account to a Receive-only user. Loan accounts can only be added Verified Customers, which is why you’re getting an error, however, that’s definitely the wrong error message. Sorry about that! I will be creating a ticket for our team to fix the error messaging!

As for not being able to add a loan account to a Receive-only user, I’m working on finding out the design decision that went into building it out that way.

In the meantime, would you be able to help provide more information on how it would serve you use case to include support for loan accounts for Receive-only and /or Unverified customers?

@shreya Thanks again for your help and direction here!

We got clarification from the Dwolla team that we will need to use the Me2Me fund flow for loan payments. Could you help us with a few questions:

  1. How do we verify a loan as a funding source? Is it the same as a savings or checking account (API - Account // Routing Number, Dwolla.js - Instant Account Verification, Third party - Plaid)?

  2. If we do the API - Account // Routing Number option, I see that micro deposits are optional. Would these deposits be required in order to make payments to the loan? In our use case, we have the Loan routing number and account number of the user, so our preference is to create the funding source for the loan and simply make payments to it from another verified funding source added by the user.

Thanks!

Andrew

Sweet! You’re welcome!

  1. There is no need to verify a loan account since it won’t be needing to be debited. But if you’d like, it can verified using the same methods as the other bank account types. (Microdeposits, IAV, or Plaid instant Auth).

  2. There is no requirement to send Microdeposits into the loan account before making a payment into it. Since loan accounts can only accept credits, they can remain unverified in the Dwolla Customer’s account.

Hope that helps! :slight_smile: Let me know if you come across any questions!

Perfect. Thank you!

1 Like

@shreya Me again! :slight_smile:

We believe we have loans turned on in our Sandbox environment, however we’re continuing to get an error when we attempt to add a loan as an unverified funding source. Here is what we are trying:

Customer: https://dashboard-sandbox.dwolla.com/customers/b9536e71-4c1b-46fb-bae1-6bf46c482ac4/details

Request body:

{
  "routingNumber": "222222226",
  "accountNumber": "123456789",
  "type": "loan",
  "name": "Loan Test"
}

Response:

{
    "code": "ValidationError",
    "message": "Validation error(s) present. See embedded errors list for more details.",
    "_embedded": {
        "errors": [
            {
                "code": "Invalid",
                "message": "General Ledger funding sources are not currently enabled.",
                "path": "/bankAccountType",
                "_links": {}
            }
        ]
    }
}

Questions:

  1. Are we certain loans are turned on in our sandbox account? If so, are we doing it wrong? :slight_smile:
  2. Can we attach loan as an unverified funding sources to customers that are in “retry” or “document” status before they are fully verified? We’re able to attach savings and checking accounts to users in “retry” and “document” status, so we want to be sure that is also true for loans. The benefit for us here is we have the information from the user so we want to make the attachment at that moment. The user could not move any funds to the account until they are verified, so we’re hoping this is valid use case.

Hi Andrew! :slight_smile:

Looking at your logs, everything you’re doing looks fine and should work as expected. However, I just tried this with my own Sandbox account and was able to recreate the error when trying to add a loan account to a Personal Verified Customer.

It appears that there’s a bug with the Loan account feature in Sandbox which is preventing from creating accounts and throwing the above error. I’ve created a ticket for our team to look into soon as possible! I’ll keep you updated here!

I would like to apologize on Dwolla’s behalf for the prolonged trouble you’ve been facing with trying to integrate with the loan account feature. We hope to get this resolved as soon as possible depending on our team’s bandwidth and priority. I know that you’re actively working on this integration, but just to gather some feedback I can share with my team, how urgently were you looking to get this feature incorporated into your use case?

@shreya We were hoping to have a solution in prod on Tuesday, so it’s a very big deal for us. Could someone reach out to me direct on possible short term solutions?

Thanks. Yes – Jake will be reaching out to you directly!