This year at the regatta, you can pay for additional races, food, and regatta accessories with Dwolla.
What is Dwolla?
Dwolla is first and foremost a cash based payment network. With Dwolla, you can use your computer, phone, and social networks to send and receive cash with the least amount of money spent on transaction overhead. Think of it as the next step beyond paying with plastic.
Is it safe?
Safer than plastic! When using a credit card, your account information can be stolen and used fraudulently. With Dwolla, none of your information is transferred/released/captured/transcribed during a transaction. Beyond that, there are more security features used than banks and credit cards.
Why not use Square, ProPay, PayPal, or Veriforne’s mobile card readers?
The big issue is the cost. The regatta is put on via the Des Moines Rowing Club, a 501(c)3 non-profit, and as such is dependent on race fees and sponsorships. While we could raise the cost of items to cover the cost of credit card fees, we feel the best option is to keep prices affordable to our competitors and spectators.
Why should I use it at the regatta?
- Safer than cash. If you misplace your wallet, you lose your cash and are stuck mooching off of friends.
- Less transaction overhead. If you are paying with Dwolla, there are no overhead costs for you. If the transaction amount is over $10, the regatta pays 25¢
- No ATM inconveniences. You don’t have to find an ATM and you don’t have to pay the $2-$3 privilege fee to access your money.
How do I get started?
The process is simple, you navigate to Dwolla’s website and click on the teal “Start using Dwolla today!” button. From there you will enter your information for your account. You will need to link up a bank account. After a few days you will need to verify some minor transactions Dwolla will make to that account (for verification purposes). Once verified you can deposit money to your Dwolla account and use Dwolla at any location or person in the US that accepts or has Dwolla.
[box color=”blue” ] Keep in mind that the verification of the account and deposits can take a couple business days to go through the old school ACH method unless your financial institution uses FiSync.[/box]