Summary of Changes to the Dwolla Account Terms of Service - January 21, 2025
We are updating the Dwolla Account Terms of Service, which applies to your use of the Dwolla Account, Dwolla-Enabled Services and/or Dwolla Platform. The following provides a summary of the changes to the Dwolla Account Terms of Service. To see all of the changes, please read the full Dwolla Account Terms of Service.
- Under the header, we updated the Last Updated date to January 21, 2025.
- We updated Section 5.2 to remove references to one of our RTP financial institution providers and to add terms governing a new real time payments method, FedNow® Service.
Last Updated: January 21, 2025
These Dwolla Account Terms of Service (“TOS”) are a legally binding agreement between you, Dwolla, Inc. (“Dwolla”) and our financial institution partners, each a party insofar as you will access one of the services they provide (“Financial Institution Partner”). This TOS applies to your creation and use of a Dwolla Account (“Account”) provided to you through one of Dwolla’s clients. Dwolla offers a payment software platform (the “Dwolla Platform”) to its clients, who use the Dwolla Platform to provide services to consumers and/or businesses like you. The Dwolla Platform permits users to initiate and send payment instructions to one or more of our Financial Institution Partners, who will provide the funds transfer services based on those instructions.
Our Financial Institution Partners are party to this TOS only in each entity’s capacity as the financial institution that holds funds or performs funds transfers, as more fully described at https://www.dwolla.com/legal/about-our-financial-institution-partners. Except as specifically set forth in this TOS, the Financial Institution Partners are not responsible for the Dwolla Platform or fulfillment of Dwolla’s obligations under this TOS.
It is important that you read and understand this TOS, as it governs your use of your Dwolla Account and any features of the Dwolla client’s application that rely on the Dwolla Platform. This TOS includes a binding arbitration provision, which affects your legal rights and may be enforced by the parties. By accessing or using your Dwolla Account and the Dwolla-Enabled Services, you accept and agree to be bound by this TOS. If you do not agree to these terms, you must immediately stop using the Dwolla Account and notify the Dwolla client who is providing you access to the Dwolla-Enabled Services that you wish to deactivate your Dwolla Account.
We may amend this TOS at any time by posting a revised version on dwolla.com or any other website we maintain for purposes of providing the Dwolla Platform or Dwolla Accounts. Amendments to the TOS are effective at the time we post them and your continued use of your Dwolla Account constitutes acceptance of any amendments.