E-checks And Online Casinos Have Been Together For Years
If you are lucky enough to live in a part of the world where internet gambling is fully legal, the number of methods you can use to fund your account is huge. Some of the top brands have as many as 40 different ways to scratch that casino itch. Most people know about the usual suspects, credit cards, debit cards, bank wire, e-Wallets etc. Let’s talk a little about the e-Check online casinos in most places take them, but few people have even heard of them. A little surprising when you find out that they have been around as long as the internet! So a quick rundown on what they are all about.
What Is An e-Check?
So an e-Check is a method of making a payment from one account to another using the speed, processing efficiency and security of an electronic transaction with all of the familiarity, business procedures and the long-standing legal infrastructure of a paper check. It is basically an evolution of the paper check, the digital version has been with us twenty years. The legal frame work that surrounds the use of checks is one of the cornerstones of banking and as such has no ambiguity. The e-Check is bound by the same laws and is so trusted that the Treasury Department of the United States of America uses e-Checks to make high value payments over the internet. This is the first and only electronic method used by them for such payments.
So How Do They Work? And Really Who Uses Them
Well they work the same as an old fashioned check. Except you don’t have all of that writing nonsense. Or relying on the postal service. No more ‘the check is in the post’ delaying tactics! The beauty of the e-Check is that it’s not only banks that use them. Every payment gateway that is worth its salt has them as part of their arsenal. The method is the same as a paper check you just write it digitally. Then you send it digitally. The payee ‘deposits’ the e-Check digitally, receives the credit and the check is cleared the same as a paper check. The length of time for the funds to clear is greatly reduced. There is no postal service involved, no physical check to process, it is all done electronically. It will still probably take around 3 days due to the security checks that are made. Online casinos that accept e-checks as opposed to those who don’t are in the majority. Most take them because they work. The processing of them is simple and due to the rich legal framework surrounding checks online casino know exactly where they stand. US customers can have some issues but once it works once it will work again.
But Really Why Use An e-Check To Fund Your Online Casino Account?
Well believe it or not e-Checks are the most secure form of online payment. The chances of fraud using e-Checks are very small. There are more levels of security involved with an e-Check than any other transaction that has ever been used. Public key cryptography, digital signatures, duplicate detection, high levels of encryption. A traditional form of banking that is completely safe on the internet. You can stop the payment and have all the legal recourse you would have with a paper check. All payment gateways that issue e-checks are bound by the same laws as banks. Pretty much the cheapest way to move money around electronically. They also work both ways unlike a lot of methods for online casinos you can deposit and withdraw using e-Checks. They are also intuitive to use everybody knows how to fill out a check. The fact that there are no charges made when depositing with your online casino has to be up there as one of the major reasons to use e-checks. The vast majority of other methods to deposit will charge even if it is a small amount. The fact is even your trusty e-Wallet has to make some money and will make charges. American online casino players are starting to use e-Checks more and more. As it more difficult to make deposits with credit cards it seems that the e-Check is working where other methods are failing. It is a bit confusing as the banking laws in America clearly state it is illegal to make financial transactions with online gambling establishments. So credit cards are getting rejected but e-checks are going through. The only advice to give is lobby your legislature and get online gambling fully legalized and regulated. Let’s end the confusion for the USA.
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