Dwolla for Classifieds and beyond?

[Theken]

I noticed today (when placing my 5th hh357 order with AvidVaper) that there is a payment options called "Dwolla" and I decided to research it. I noticed a number of vendors here in the United States offer this as a payment option and, while I stalk the classifieds, I have never placed an order because it seems potentially problematic to use a service that disallows us (paypal).

I have seen a few closed or commented on threads with regards to this, just thought I would bring it up again. What is the loss in using a payment processor that is a.) faster b.) cheaper and c.) welcoming of e-cigarette business?

 

[jkmtwo]

Its not faster, it is cheaper, and more welcoming. I think most are fearful because using Dwolla requires you give a lot of info, and have your bank account attached, add to that the 3-5 day time it takes to get a transfer through, and most people would not find it to reasonable.

 

[Theken]

25 cents vs. 2.9%+ 30 cents is a huge difference. Dwolla is absolutely faster from my understanding, faster in getting the money from your sell. I can access the money from something I sold and have it instantly sent to my bank (versus Paypal's 3 business days). Don't the users of the classifieds run the risk of Paypal seizing that money (google returns a few stories of such).

As a buyer, I shouldn't care about what it costs but, in the end, the buyer will absorb higher costs to justify the Paypal fees.

An example of the difference in price is:
On Paypal
Transaction amount: $500
Transaction % fee: 2.9%
Transaction fee: $0.30
Total Fee: $544.50

Dwolla
Transaction Fee: (free if under $10) $0.25


I understand that giving them your banking information could be a bit iffy for some, but in order to become verified through Paypal I had to do the same thing. If it is really an issue, open a second account through your bank, one that you use for online transactions (like I am doing tomorrow).

I understand that when Paypal processes a payment, the seller gets a lot of information about the buyer. This fact could be good and bad, depending on who the seller is. Dwolla allows users to allow which information the seller is able to collect from the transaction.

I would be curious to hear from suppliers and vendors about their thoughts on this? From what I understand, a lot of credit card processing services take even more in fees.

 

[AlmightyGod]

I love Dwolla.

Far better & cheaper than PP.