@dwolla working to make it right April 19, 2013

The folks at Dwolla are working hard to make things right

Since I posted my particularly unpleasant experiences with Dwolla the folks at Dwolla have stepped up to make things right.

They have reversed substantially all the transactions into my business account that they locked for suspicious activities. All but $500 is now available in other accounts that are not locked.

They are working with my business partner to get the funds from their Dwolla account back into their bank account.

Other companies

I've been approached by a number of other vendors including Verify Valid about using their services.

At this point, I'm not going to trust multi-thousand-dollar transactions to companies that don't have clear processes in place to segregate my funds from their funds and deal with the unexpected in a predictable way. Nor will I trust multi-thousand-dollar transactions to companies that do not have some governmental insurance (e.g., FDIC) for lost funds.

Dealing with disruptive companies

I plan a longer blog post on the balance between safety, good process, innovation, and convenience. But for now, I have to get back to my "day job."