How Your DealNow Wallet Works: Fund Security & Account Details
Where are my funds held?
When you fund your DealNow wallet, your money is deposited into a "For Benefit Of" (FBO) account at Veridian Credit Union. This account is managed by our payment partner, Dwolla.
An FBO account is a standard financial structure used by major payment platforms across the industry. It's designed to hold funds on your behalf while keeping them separate, protected, and accessible to you at all times.
Are the funds still mine?
Yes. Your funds legally belong to you — not to Dwolla and not to DealNow. The "For Benefit Of" structure exists specifically to ensure that. Dwolla maintains a dedicated ledger that tracks every dollar in your individual wallet, and that's what powers the real-time balance you see on your DealNow dashboard.
How is my money protected?
Your funds are held in an FBO account, which means they are legally separated from Dwolla's and DealNow's operating funds. Even in the unlikely event that either company faces financial difficulty, your money is not part of their assets — it belongs to you.
Dwolla individually tracks your balance, transaction history, and fund movements, so every dollar is accounted for at all times. As a regulated payment partner, Dwolla is subject to federal and state oversight and follows strict compliance standards for safeguarding customer funds.
Can I transfer funds in and out?
Yes. You have full control over your funds. You can add money to your wallet or transfer it out through the DealNow platform whenever you need to.
How do I check my balance?
Your DealNow dashboard shows your wallet balance, transaction history, and fund transfers in real time. If you ever need help verifying your balance or understanding a transaction, our team can pull up your account details immediately:
- Email: support@dealnow.com
- Chat: Available in the DealNow app (bottom-right corner)