What is the difference between Verified vs. Unverified Funding Source functionality?

What is the difference between Verified vs. Unverified Funding Source functionality?

• Jun 26, 2023
• Knowledge

Information

Title
What is the difference between Verified vs. Unverified Funding Source functionality?

Summary
A client or end user can initiate transfers to any funding source, whether verified or unverified. If a client or end user wants to debit a funding source (i.e., initiate a pull from an external funding source into a Dwolla Balance), that funding source must be verified.

Funding source verification can be accomplished either (1) by using instant account verification via a third party provider or (2) initiating micro-deposits for bank verification.

Note: Funding source verification is separate from customer verification.

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