Dwolla provides a platform for businesses to integrate bank payments into their applications. It enables users to send, receive, and manage funds directly from bank accounts using the Automated Clearing House (ACH) network.
Plaid provides APIs to connect applications with users’ bank accounts and financial data. Its platform enables businesses to access a wide range of financial information, including account balances, transaction histories, and identity verification, to power services like payments, lending, and budgeting.
Written for eTrustFundBaby.com, this WordPress plugin sets up one-time or recurring bank transfers between the payers account and those setup by recipients. The onboarding process was quite strict as you would expect for applications of this nature.
Parents or guardians setup accounts for their children with a goal of saving for college or any goal, and invite friends and relatives to donate to these accounts for birthdays, gift giving holidays or anytime.
Plaid is used to link bank accounts. Dwolla is used to facilitate bank transfers.
There is detailed reporting available for both the donors and recipients.
