An electronic payment or eCheck is a form of electronic payment made over the Internet and designed to mimic the function of a paper check – only better!
eChecks fall under the category of electronic fund transfers (EFT’s). Debit cards and direct deposits are another form of EFT. What they have in common is that funds are debited directly from your bank account. eChecks are secure because they incorporate a number of security features: encryption, digital signatures, authentication and public key cryptography. They are fast because, unlike a physical check, an eCheck races at the speed of your Internet connection. Additionally, besides being fast and secure it is also a cheap method of transferring funds from a bank account to a third party which includes online casinos. While it acts like a paper-based check, the reality is that it is much more efficient, requiring less steps to process.
Why an eCheck?
The first form of eCheck was used by the US Treasury for the purposes of online payments. Today, they form a valid and effective method of payment from all over the world in just about any currency.
The Best Online Casinos accepting eChecks
We’ve examined a number of casinos that accept eChecks and we have ranked them from best to worst.
How do eChecks work?
eChecks works similar to a credit card where you’ll likely need to enter your account number, first and last name, a routing number and then click on the pay button. This may vary slightly depending on the origination of your eCheck.
Do I need to create an account?
With eChecks, there is no need to create an account. Depending on the portal you are using, you’ll simply need to fill in details of a number of fields which contain information similar to what a physical check would have.
Casino Deposits using an eCheck
Depositing funds to an online casino player account is as simple as going to the payments section of the casino and specifying eCheck as a method of deposit. From there you’ll be asked for the amount that you wish to deposit as well as to specify information similar to what you would fill out on a physical check. These fields could include your first and last name, account number, possibly a field to confirm your account number and the amount you wish to pay. It can take up to 6 or 7 days for a eCheck to clear.
Casino withdrawals using eCheck
An advantage of using an eCheck to withdraw funds is that the funds go immediately to your bank account. Because of their relative simplicity, cost effectiveness, safety features and relative speed, they present a good way of withdrawing funds from a participating casino. Like deposits, using eCheck as a method of withdrawing funds can take up to 6 or 7 days. Though this is not always the case, the casino may add their own fee.
The transaction fee for using the Echeck payment method at an online casino is generally reasonable, with additional fees of up to $1.50. This can be considered a relatively low cost compared to other payment methods such as bank transfers or traditional checks which can cost up to $3 or more in transaction fees. This can be considered a relatively low cost compared to other payment methods such as bank transfers or traditional checks which can cost up to $3 or more in transaction fees.
It is important to note that transaction fees may vary depending on the payment service provider and the terms of service. It is therefore recommended that you check with the online casino or payment service provider for the exact transaction fees associated with using the Echeck payment method.
- What type of eCheck fees can I expect to pay using this payment method?
- Generally speaking, the cost of using an eCheck are relatively low depending on a number of factors and in some cases may even be free. You should check to see if there are any fees prior to using this method. keyboard_tab
- How long do deposits using eCheck take?
- Instructing a deposit takes only a few seconds however it can take several days for the funds to be cleared by your bank and deposited to your online player account. keyboard_tab
- Can I withdraw funds using eCheck?
- It is possible to withdraw funds using an eCheck. keyboard_tab
- How long does it take to withdraw funds?
- It can take as much as 6 or 7 days to withdraw funds but it ultimately depends on how long it takes for it to clear. This is the trade-off for a relatively small fee for using this method. keyboard_tab
- What happens if my currency is not supported by the casino site?
- eCheck allows you to make payments in any number of currencies.
- Generally, there tends to be a low fee and in some cases no fee to use eChecks.
- This method is available for depositing and withdrawing funds.
- There is no need to register the service.
- Remains a popular method of transferring funds.
- Depositing and withdrawing funds can take several days to clear.
- Not all casinos accept eChecks.
eCheck represents a cost effective way of depositing and withdrawing funds to and from an online casino player account. The trade-off is that it may take a few days to clear, so if you’re eager to get playing your favourite slot game or cash out your winnings then you will have to be patient. This method does offer a safe and secure environment for moving funds.