eCheck
If you’re keen on making a deposit at your local online casino in a safe, hassle free and easy manner, then maybe you could consider an eCheck.
eChecks are a type of electronic fund transfer that replaces the need for physical or card-based transactions. This is a digital check that is sent to the recipient online. Once the eCheck is cashed-in, the payer’s money is automatically moved from one account to the other electronically.
When you wish to make a deposit in your favorite casino in the United States, you can consider eChecks as the mode of banking. eChecks are sent and received between two people/organizations on the Automated Clearing House (ACH) network.
eChecks vs ACH payments
An Automated Clearing House (ACH) is an electronic payment processing system that is operated by the National Automated Clearing House Association. It is designed to facilitate the transfer of funds electronically between two parties. Everything from deposits & payments to tax filings & refunds to payroll can be processed through the ACH network.
Most often, the words ACH payment and eCheck are used interchangeably. This leads to the misconception that eChecks are ACH payments. But this is only partially true.
All eChecks are ACH payments – but all ACH payments aren’t eChecks.
eChecks are just one type of electronic fund transfer (EFT), with other types being:
- Prearranged Payment and Deposit – Employee salary, payment for any online purchase, interest & annuity receipts.
- Corporate Trade Exchanges – For business-to-business transactions such as employer payroll or credit owed to a supplier.
- Telephone-initiated Payments
- Web/mobile/internet-initiated Payments
- Recurring Billing – Like monthly rental or a Netflix subscription
Each of these types of EFTs is processed through the ACH network and are considered ACH payments. eChecks are an extraordinary way to make casino deposits. They will make your life really easy. Just give them a try and see for yourself.
Advantages of eCheck for casino deposits
Most banks and casinos support eChecks
This is the best and biggest advantage.
With the demand for online payments and electronic transfers increasing at a tremendous pace, more number of banks have started to offer the eCheck banking method. Many casinos in the United States too have responded enthusiastically. They are allowing patrons to deposit money and withdraw their winnings using eChecks. This makes this banking method incredibly seamless to use.
They’re very safe
Banks have put in place numerous, highly-stringent security measures to protect eChecks from being tampered with. Reputed casinos have their own security measures, which they use to protect the financial details of their clients. So now you never have to worry about someone trying to abuse your funds. When you use eChecks to deposit at a casino, you can rest assured that they’re pretty safe.
They have very low transaction costs
Paper checks cost users a huge amount in transaction fees. Many banks charge up to $3 for paper checks. But eChecks, because of their digital nature, are less expensive to run and process. This is why you may end up paying only $0.26 to $0.50 for each eCheck transaction you do. So you can use eChecks to save plenty of money in the long run. This is great because you can now use the money you’ve saved for your deposit and play more games.
They are easily cancellable in case of problems
Since eChecks are managed by banks, there are several measures in place to cancel the eChecks in the event you’ve paid to the wrong casino or you’ve paid more than you intended to. All you need to do is contact your bank and ask them to stop the processing of the check. It’s so simple.
You should also get in touch with the casino to whom you’ve sent the eCheck and inform them of the issue. You should recover your money within 7-10 working days. That’s really fast isn’t it?
Perfect for people who want to make large deposits
eChecks are one of the best deposit mechanisms for high rollers. Just like with credit cards, debit cards and Bitcoin, you don’t have to restrict yourself to small amounts. You can quickly transfer the value of your choice. Now you don’t have to worry about limited deposits or cutting your play short. You can play as long as you want.
They’re eco-friendly
If you’d like your casino deposit mechanism to be sustainable and eco-friendly, then choosing eChecks would be the right way to go. The absence of paper means lesser deforestation. The absence of printing ink also means lesser toxins being released back into the earth when used checks are treated at garbage disposal sites.
Disadvantages of eCheck for casino deposits
They require you to share your banking information
eChecks are processed through the ACH networks, which in turn operate within the banking structure. Your bank account details are needed to process your eChecks. If you aren’t comfortable with this, the eChecks deposit method may not be the right one for you.
They take time to process the deposits and withdrawals
Although many banks have started to clear eChecks in 24 hours, some still take 48-72 hours to clear eChecks. The time taken to process your eChecks may be longer if the amount is high.
In comparison, Credit and Debit cards, Bitcoin and even gift or prepaid cards are instantaneous and allow you to immediately avail of the casino’s services. Bitcoins also process withdrawals faster.
First time deposits are restrictive
Most casinos in the US that support eChecks restrict the first-time check limit to $100. This can be restrictive to high rollers.
eChecks can bounce
eChecks are just like paper checks in this instance. They are at risk of bouncing and the payment falling through.
Remote deposit isn’t supported everywhere yet
Some banks in the US allow their eChecks to be deposited remotely by:
- Taking a photo of the check on the phone and uploading it onto the bank’s mobile app.
- Having the check read on an ATM OCR machine and sharing it with the bank.
However, this is a very nascent technology and not all banks support this. You’ll need to follow the prescribed rules to make your deposit or withdrawal.
They don’t process on the weekends and public holidays
Given that eChecks are processed by banks, your eCheck can only be deposited or withdrawn on weekdays. Any eChecks that have been given in for deposits and withdrawals just before or on weekends and public holidays in the United States, will be taken up for processing on the nearest bank working day.
This is something you need to remember if you want to use eChecks as your preferred banking method at casinos. In comparison, debit and credit cards, gift and prepaid cards, and bitcoin can be processed immediately.
How to make an eCheck deposit in US casinos?
Making an eCheck deposit in the United States is an easy task. But before you do, contact your favored casino to find out if they provide the eCheck facility. Although eChecks are gaining in popularity, some casinos still don’t offer this service. It’s best to speak to the casino and find out if they do offer this service.
If the casino does give you the eCheck service, you’ll need to follow this to make a deposit:
- Log onto the website of the casino you want to play at.
- Navigate to the “Cashier” page.
- Scroll down the page until you find the “Deposits” section.
- Choose the “eChecks” option.
- You will be directed to a pop-up box or new page that contains empty fields, asking for your full name, email address, and bank account details. Complete the form.
- Fill in the amount of deposit you wish to make and click on the button named “Deposit”.
- The casino will contact your bank to initiate the deposit. Once this request is received, your bank will start the deposit process.
What happens at the business end of a deposited eCheck?
Your role in initializing the eCheck deposit is complete the moment you select the “Deposit” button. Once this is done and the business contacts the bank, the bank will verify whether such an eCheck deposit has been initiated or not. Once the correct entry has been found, the casino will be authorized to request for payment.
The casino is given access to your bank’s bespoke online payment processing system, where the casino will input the details of the deposit amount. All the important fields must be filled in and the payment request form submitted. This will start the transaction on the ACH network.
Once this process is complete, money will be withdrawn from your bank account, and the casino will receive a receipt stating that the deposit is in progress. Your money should reach your casino account within a few days and you’ll be able to start playing right after.
Using eChecks for recurring deposits
Yes, this is one of the best features of eChecks. Unlike some of the other deposit methods, eChecks allow casino patrons to set-up a recurring payment system at the casino.
Let’s say you wish to gamble at the same casino for the next 6 months. While submitting your eCheck details, you can also input the details of your recurring deposit and let the casino know how much you wish to deposit every month.
At their end, casinos too can provide this information when filling the online payment form after authorization of the deposit. Once they save the recurring eCheck details, casinos don’t have to contact your bank again for payment authorization, since they will already have received it.
Can eChecks be used to withdraw winnings?
Yes, eChecks can be used to make withdrawals as well. Since they are just like paper checks in terms of functionality, the maximum per day and per month amount you can withdraw using eChecks is subject to your respective bank’s check withdrawal policies.
In order to withdraw your winnings from the casino account using eCheck, you must:
- Log onto the casino website.
- Visit the “Cashier” page and scroll down to the “Withdrawals” section.
- Select the “eCheck” option and input the amount of money you wish to withdraw.
- The withdrawal will be initiated immediately.
A similar process as the deposit takes place in the backend to start the withdrawal transaction. You will receive your funds within 2-4 days of making the request, and the money will be deposited straight into your bank account.
What to do when your eCheck bounces?
eChecks are at a risk of bouncing when:
- You don’t have sufficient funds.
- You have liens.
- Your account has been blocked by the bank.
- There is some problem with the casino’s bank account.
- Technical error at the back end.
- Signature mismatch.
So, what should you do if your eCheck to your casino bounces?
A bounced eCheck (and paper check) can make you look like an untrustworthy customer. This is especially true if you’ve set-up recurring deposits, and there is a high risk of multiple bounces. This may affect your relationship with the casino and your bank.
Additionally, a bounced eCheck sometimes gets recorded in your credit report. If this happens too often, your credit score can significantly lower. This can be problematic in the non-gaming aspects of your life too. So, before initiating the deposit, check if everything is in order with your bank account. If you believe that there is a high chance of your eCheck bouncing, rectify the issue. Your banker will be able to advise you on what to do.
If the eCheck bounces for another reason completely unrelated to your bank account, don’t panic. Contact the casino and inform them of the issue. That way, they’ll know that the problem is beyond your control and you’re fixing it.
Next, pay any penalties/fines that you may be subject to because of the bad check. Check your account balance and contact the bank to find out the next steps. Re-attempt the eCheck deposit after a day or two. If the eCheck still keeps bouncing, choose an alternate payment method on your casino website.
As best practice:
- Regularly check your bank account balance.
- Top-up your account at regular intervals.
- Keep a safety net in your account, beyond which you cannot spend.
- Request for Overdraft protection, but use it sparingly.
Doing these will reduce your risk of having bounced eChecks.
Wrapping up
eChecks are a great tool for depositing money in casinos in the United States. They reduce your effort in making deposits and enable you to transfer money and make large withdrawals safely. They’re an excellent option if you’re a frequent patron of online casinos and you need a deposit method that allows you to make deposits and withdrawals of a recurring nature easily.