E-Check

eCheck LogoWhen you see the option to deposit with an E-Check at an online casino, it’s not very clear what they are referring to. However, if you had to guess you’d probably be right: it’s an “electronic check” that comes directly out of your bank account that is sent to the betting website. Sometimes it can also be referred to in their cashier simply as “ACH” which stands for “Automated Clearing House” and is a virtual system to transfer funds between bank accounts and financial institutions.

The transaction does not need to be documented on an actual piece of paper but it will use the exact same information that would be on any physical check that you’d write from your checking or savings accounts. Therefore, in order to complete the transaction you will have to give the operator your routing and transit numbers. Also, make sure that you don’t confuse this option with a bank wire, as that’s a totally different thing that requires you to physically go into a branch and then provide the operator with much more information, including SWIFT codes and other details.

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Some online casinos will immediately make the funds available in your account for wagering and then if the check doesn’t clear they will simply penalize you by voiding all of your winnings or pending sports wagers. However, if you have a bad history with them they won’t front you the money again until you’ve proven yourself to be trustworthy with multiple successful transactions. Obviously, honesty is always the best policy.

Deposit with E-Check

This process will already be very familiar to many American gamblers because it hasn’t changed much in the last 20 years. You simply go into their cashier and click on “ACH” or “e-check” and fill out the required information, then enter the amount you’d like to deposit and then “confirm”. If your account is in good standing the funds will then immediately be available for use.

The fees for ACH are low when compared to those that you’ll incur to use a credit card like VISA or American Express, however, this method is basically for those who want to transfer $200 or less into their accounts – any more than that and it will start to get expensive. There shouldn’t be any E-Check fees charged by the casino but always be sure to check the details in their cashier first so you don’t get any surprises.

Regarding withdrawals, sometimes the operator will only let you take out the exact amount that you deposited and you’ll have to find another way to get out the rest, if there is any. Usually this is just a quick cryptocurrency transfer because it’s the quickest and easiest thing to do, (of course, if you would have just deposited with crypto in the first place, you’d be able to get the entire amount immediately).

U.S. Online Casino E-Check Deposits

Anyone who has been betting on the internet for a while now will remember that E-Check deposits were originally referred to as “DBT”, made famous by the wonderful people at Bodog, (now called “Bovada”), who wanted to revolutionize the overall gaming experience and allow U.S. players to easily move money in and out of their accounts. It’s interesting that another industry veteran, PokerStars, still refers to it by this name today. For anyone keeping score, the folks at Bovada are now calling E-Check “Interac e-Transfer”, so don’t give it a second thought when you’re in their cashier – they’re referring to ACH.

No matter what you call it, it’s one of the easiest ways to fund your gambling account, if you’re happy with leaving a paper trail behind you, that is. Anyone who wants to bet anonymously should of course deposit with Bitcoin because the transactions are totally private.

An important thing to note regarding this method is that since the money isn’t actually received by the casino for 7 days or more, you will be unable to request a payout until the funds have “cleared” and the transaction has been approved and finalized by your bank. This has led to many upset players over the years who didn’t know the rules going in, and ended up feeling like they were being cheated by the operator. However, this isn’t the case at all and they simply have to confirm that they get their money before they pay you.

Pros and Cons of Using E-Check at Online Casinos

There are many pros to using E-Check to deposit at an online casino, with the main strength being that it will be very familiar to players who don’t like stepping out of their comfort zone. It’s a time-tested method that has worked well for over 20 years, allowing those without a credit card to still be able to fund their accounts. It’s also good for anyone who doesn’t like dealing with 3rd party intermediaries like eWallets or Blockchain Wallets, and wants to deal directly with the operator.

The main con of depositing with ACH is obvious: you have to give all of your personal information, including the details of your bank account, which may make some players who value their privacy a little uncomfortable. Ultimately, betting websites can’t really do anything with this information, it’s just that it feels like you’re divulging too much to them.

Another huge drawback to E-Check is that based on today’s standards, it takes a very long time to move the funds around, with 7 to 10 business days being the standard timeframe. This means that if you deposit with ACH on a Sunday, place bets for that night and win, you won’t be able to withdraw your funds for 14 to 20 business days since both the deposit and the withdrawal will have to clear. Compare that to a method like Litecoin that would allow you to deposit, bet, win, and get paid in the same day and it’s easy to see why many are moving on from ACH.

Also, if you mismanage your finances and spend the money in your bank account that was earmarked for the online casino, the deposit will not clear, and the operator will probably void all of your winning wagers that were made with the funds. This could obviously turn a huge payday into a massive nightmare. The NSF charges from your bank that will result from your error will be the final insult of the ordeal.

A final word of caution is that there are limitations to where you can use E-Checks and it can be hard to find a website who will accept them. However, the list above is updated regularly so anyone there will be able to fully accommodate you.

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