Wire transfers?

API Support Transfers
1

We want to enable wire transfers between our verified customers.

Is there anything we need to do to enable wire transfers in our sandbox accounts?

It appears from the docs that it is only possible to send wire transfers from dwolla balance (sufficient to cover the amount of the wire) to a bank funding source.

This is done by adding

processingChannel: {
destination: “wire”
}

to the JSON request body.

Is there a way to perform a bank-to-bank wire transfer, maybe by adding

processingChannel: {
destination: “wire”,
source: “wire”,
}

to the JSON request body?

If not, is it possible to perform a bank-to-balance wire transfer, maybe by adding

processingChannel: {
source: “wire”
}

to the JSON request body? This would allow us to programmatically string together bank-to-balance and balance-to-bank wire transfers.

Thanks

2

Hi @gfb107 – I’m afraid with Verified Customers, only one way wires are supported: Balance → Bank.

Perhaps this may be a use case where you can utilize our new Virtual Account Numbers (VANs) which is a feature that enables you to retrieve a set of Account and Routing numbers for the Dwolla Balance, which can be used externally to create transfers to/from. Let us know if you’d like to learn more about VANs by connecting with our Sales team!

3

Seems there is no way to perform an end-to-end bank-to-bank transfer the same day.

The problem is that Dwolla doesn’t really do true bank-to-bank transfers. Dwolla strings together a bank-to-balance transfer and a balance-to-bank transfer, doubling the cost and time.

4

With ACH and how Dwolla does transfers, transfers do need to come into the Dwolla Network first.

Same-day bank-to-bank transfers are indeed possible with our expedited Same-day Debits and Credits! Our team can explain in more detail about these features which do need further approvals from the Dwolla team. Let me know if you’d like to get connected!