Post date: Jun 07, 2011 6:27:17 PM
Dwolla is a service similar to PayPal, for making online transactions denominated in your national currency. It is not anonymous, but can be used to buy anonymous currencies like Bitcoin. Be certain to choose a strong password, distinct from your other passwords. Once you set up your Dwolla account, it will have access to your bank account in the same way that PayPal does.
Start at the Dwolla homepage.
Click the "Sign Up For FREE" button.
Enter your personal information.
First Name
Last Name
Account Type
Date Of Birth
Phone numbers
Address
Password
new PIN
Solve the "CAPTCHA" and click "I Accept. Register My Account" button.
Check your email address, and click the link from Dwolla to verify the email account.
Log in on the Dwolla homepage.
Click "Add Bank Account" on the sidebar
Enter your Routing Number and Account Number, and click the "Add" button.
At this point, you will need to wait some hours to be crebited by Dwolla in your bank account. Within 24 hours, there will be two small (< 12 cent) deposits from Dwolla. My deposits took between 12-24 hours to show up. You will use these numbers to confirm your bank account with Dwolla.
Log in on the Dwolla homepage.
Click "Verify Bank Account" on the sidebar
Enter the deposit amounts from your bank statement. Be sure to format like $.01 for 1 cent.
Click the "Increase Account Balance" link to transfer money from your bank account.
Enter your Dwolla PIN code and number of dollars to transfer, then click "Next Step".
Click "Confirm" to confirm the transaction.
This took almost 4 business days (over the weekend) to complete, the expected timeline is 1-3. Now you can start spending your "dwolla"s.