Before changing your account type, consider this:

  • You must be an authorized representative of the business and able to create a financial account on behalf of the organization.

  • Have your business’s EIN handy - you will need it. In some cases, we may also ask for a copy of your EIN documentation to further verify your business.

  • In the case that you are a sole proprietorship without an EIN, you would need to provide documentation confirming the business is in good standing and at the address listed on the Dwolla account.  This could be a tax documentation or a letter from the IRS.

If you do not meet these three criteria, we recommend setting up a new account as a business.
 

To change your account type:

1. In the top right corner of your dashboard, click the triangle next to your avatar and then click on "Settings."

2. On the Basic info page, click on "Change account type".

 

3. Enter the name of your business, business address, and EIN (omitted if signing up as a sole proprietor). Click the “Save Account Info” button to update your account!
We reserve the right to verify your account validity for security purposes.

 

 

 
 

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Financial institutions play an important role in the Dwolla network.

Dwolla, Inc. is an agent of Veridian Credit Union and Compass Bank and all funds associated with your account in the Dwolla network are held in pooled accounts at Veridian Credit Union and Compass Bank. These funds are not eligible for individual insurance, including FDIC insurance and may not be eligible for share insurance by the National Credit Union Share Insurance Fund. Dwolla, Inc. is the operator of a software platform that communicates user instructions for funds transfers to Veridian Credit Union and Compass Bank.