An eCheck, or electronic check, is a payment method that works as conventional paper checks. The only difference is that it’s digital. When compared to a paper check, it has enhanced security features (encryption, digital signature, and authentication).
Online gamblers love eCheck casinos. This method is convenient when they can’t or doesn’t want to use digital wallets or credit cards.
What Is eCheck and How Does It Work in an Online Casino?
The electronic check works similarly to usual paper checks, on the principle of direct deposits. It can be used for any transactions that can be covered by paper checks. The U.S. Treasury approved eChecks as the first form of online payments. According to the estimations, an electronic check comes with a cost of $0.10, while a traditional check may cost up to $1 to issue.
Before the check is credited to the recipient, it must be cleared by your bank. That may take a few working days. However, as soon as the bank confirms that there are enough funds on your account, the casino will credit your balance immediately.
If there’s enough money in your account, you’ll have no trouble getting your deposit accepted in an online casino. After issuing an eCheck, you can cancel it by calling your bank. That’s a nice touch if you change your mind before seeing the money in the online casino balance.
Casinos that Accept eCheck
Not all online casinos accept eChecks as a payment method. But some of the best ones do. Here’s a list of gambling sites you can try if you want to use this banking method:
- BetMGM – the VIP Preferred ACH/eCheck is available as a deposit and withdrawal method
- Jackpot City – this casino is flexible with its banking methods; eChecks are good for all transactions
- Fair Go Casino – Aussie players get POLi as an alternative to eChecks on this site
Advantages and Disadvantages of eCheck Casinos
These are the main advantages of using eChecks as a payment method for online gambling:
- Although electronic checks take time for the bank to process, online casinos make it easy for the players. They get a message by the bank, stating if there are enough funds in your account. If the message is positive, the casino instantly credits the deposit.
- It’s a secure payment method. As long as you choose a trusted casino, you won’t have any trouble with it.
- You won’t pay any fees on a transaction with an electronic check.
What about the disadvantages?
- It’s not an anonymous payment method. It does provide the recipient with your banking information.
- When you issue it, the bank will list the funds under pending transactions. That may confuse you about the current balance available.
- You’ll have to wait a few days to get the funds to your bank account if you use it for withdrawals.
Is eCheck a Convenient Payment Method for Online Gambling?
Yes; an eCheck is one of the easiest banking methods to use for gambling. The only problem is that it’s not widely accepted. But when you find a great online casino that lets you use it, you’ll see the funds in your deposit in a matter of minutes.
About the autor
Frankie Wilde – is a content writer at various gambling sites. Also, he is a passionate traveller and a great cook. Frankie shares informative articles with the world.