January 2024 | Release Notes

Feature Enhancements for Dwolla Connect

• Correlation IDs
  When working with the Dwolla API, it can be difficult to match Dwolla resources with items in your own system. A correlation ID is a common “tag” among these elements that you can use to log and audit payments, ultimately allowing you to easily find and fix any problems that arise.
  Pass a correlationId when you create a Customer, Funding Source or Transfer in the API. You can also filter the list of Customers, Funding Sources and Transfers by correlationId

• Addenda Records
  Easily pass additional information to the payment recipient using the addenda field. This value will be passed in a Transfer in the API and can be exposed on an External Party’s bank statement. Addenda records provide a unique opportunity to supply your customers with more information about their transactions. Additional details about the transaction—such as invoice numbers—provides the payment recipient with more information about the transaction in the comfort of their own banking application.

• Transfer Search
  Quickly and easily locate transfers with the ability to search and filter.

DASHBOARD

New Dashboard Pages for Dwolla Connect Clients in the Unified Dashboard

• Transfers - Dwolla Connect clients can now view their transfers and details regarding each transfer in the Unified Dashboard.

• Transfer Details - Dwolla Connect clients can get additional information for each transfer, including details on the source and destination of the transfer.

• External Parties - Dwolla Connect clients can now view all external parties that have been set up to send and receive transfers.

• External Party Details - Dwolla Connect clients can view additional information regarding each external party.

BALANCE

Beta Features

We recently launched two beta features for our Balance product.

• Custom Company Entry Descriptions: When you initiate an ACH transaction, you can now set a custom Company Entry Description (CED). This field provides a brief description (up to 10 characters) of the purpose of a transaction. Since the CED appears on the recipient’s bank statement, it helps the recipient understand the nature of the payment and aids in reconciliation and record-keeping.

• Refund Transactions: By default, credit transactions initiated through Dwolla Balance are considered payments for goods or services. This can affect end users’ eligibility for IRS Form 1099-K, since refunds to end users can inadvertently cause them to be eligible for 1099-K reporting. With a new API field called intent, you can now mark the transaction appropriately as a refund.