Online Casinos accepting eCheck
Although there are not many online casinos that accept eCheck, they are still there and are considered an option for patient players. This payment method is also called “electronic checks” or “back office recalculations”. They work in a similar way to paper checks and withdraw funds directly from your bank account.
This article explores the pros and cons of using this payment method both for daily purchases and for funding your casino account. We will also look at the limitations of using eCheck for online gambling. We will discuss how to use this form of virtual checks and what are the alternative deposit options.
Benefits of using eChecks
Below are some of the main benefits of using eCheck for online financial transactions:
- While it takes up to 10 days to process a paper check, eCheck is processed in an average of four days (although it happens in just one).
- There are fewer people involved in processing eCheck, so the transaction processing costs for the customer are lower. In some cases, this amount may be less than 60%.
- Since there is no need to ship / ship paper checks, greenhouse gas emissions are reduced by 3.6 million tonnes and more than 64 million gallons of fuel are saved.
- eChecks are more anonymous and more secure than paper checks.
- If you do not have a credit or debit card, the merchant may accept eCheck as a form of payment. This usually does not work for paper checks.
- The recipient of the money pays a lower transaction fee.
- Those who use or accept electronic checks are less likely to report fraud.
- This payment method offers merchants an additional way to expand their business.
- Since fewer people are involved in eCheck processing, there is less chance of human error.
Why some casinos do not accept eChecks
Most online financial transactions are processed within seconds. This means that a gambler who is keen on gambling can quickly replenish his account and return to slot machines (or another favorite game).
However, when paying through eChecks the casino can take an average of four days to process. This is enough to fade the player’s enthusiasm. During this time, the client may even decide to move to another casino. Of course, the casino will still have a deposit, but they can lose the player in the long run.
As with paper checks, there is a possibility that the eCheck will not be accepted due to insufficient funds in the player’s bank account. This creates additional work for the casino staff, so that many operators perceive this method as an extra headache that is best avoided.