Frequently Asked Questions
Transfers
Can you undo a transfer after it has been completed?
No.
Bank Linking
Is there a way to prevent a transfer from overdrafting my linked bank account?
Not yet. For now, we recommend making sure you have enough funds in the bank account before creating a transfer.
Can two people both link the same bank account?
No. A bank account can only be linked once.
For example, if couple shares a joint bank account only one person can link that account to Banqdrop.
Are other non-linked accounts under the same bank visible to Banqdrop?
No. Only the selected bank account will be visible to Banqdrop.
For example, suppose you have a checking and a savings account with Wells Fargo. If you link a bank account with Banqdrop by signing in with Wells Fargo and selecting your checking account, Banqdrop does not see your savings account information.
Data Sharing / Privacy
Why does Banqdrop need my Social Security Number (SSN)?
It's required only for identification verification purposes and is a standard required by the financial service provider we use. This is in order to comply with laws intended to prevent financial crimes. https://en.wikipedia.org/wiki/Know_your_customer
To be honest, we'd rather not know your social security number. So to take extra care, your SSN is sent directly (from your device) to our financial service provider. Banqdrop does not see this information at all. It doesn’t even touch our servers.
See Our Privacy Policy or Dwolla's Privacy Policy (Our financial service provider) for more info.
Why does Banqdrop need my address?
We only use this information to verify your identity. We do not use this for any other purpose, we don't even store this info.
Does Banqdrop sell data to third parties?
No. See our Privacy Policy
Can Banqdrop access my location?
No. We don't track your location ever.
Does Banqdrop see transactions made on linked bank accounts?
No.