Dwolla enables money transfers through Twitter and Facebook

According to an article on mashable (Send & Receive Money From Twitter & Facebook Friends With Dwolla) if you live in the United States, you can now send money directly to friends on facebook and to people who follow you on Twitter in a very simple and low-cost way.

Dwolla (www.dwolla.com) links directly to your bank account and allows money transfers to other users through twitter, facebook or its own interface. It is now available in all of the US. The cool feature is that transfer costs are 25 cents per transfer, regardless of how much or how little money you send.

    Dwolla is a peer to peer payment platform which allows users to exchange money effortlessly through Twitter or Facebook.
    Use Dwolla to send money to anyone directly from your bank account. You can also shop online without dealing with a money order or costly credit card fees.
    Hub pages allow you to accept payments on your own landing page! Share the URL with anyone and you are ready to accept payments.

The drawback: that there are no international transfers, only US for now.

A previous report on Dwolla on this site: Dwolla low cost transfer system to take on bank, credit card fees

3 Comments Dwolla enables money transfers through Twitter and Facebook

  1. AvatarKarl

    Having to pay 25 cents to subtract from a number in one database and add to a number in another database is quite a racket! How is it that I can send an email or a file to another person without any fees, but two people can’t perform a private monetary transaction in the same way? This just highlights how obsolete many of our social structures are (this includes the idea of money itself) and how we need to move to decentralized systems where we can eliminate all parasitical behavior.

  2. AvatarSepp Hasslberger

    Quite a racket, you say, to move that number from one database to another.

    Have you got any idea how much your bank is charging you for that exact same service? Do some research. Seen against today’s prevailing reality, Dwolla is a huge step in the right direction.

    Now if you were to provide such a service, how would you propose to make the money needed to pay the costs of administrative work and computers – as minimal as those costs might be?

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