Live casinos are constantly updating their services to make them as convenient as possible for users. This includes offering a diverse array of payment methods to withdraw and deposit funds. eChecks are not necessarily a common payment form for live casinos, but they are so easy and speedy to use, letting users have their fun quicker.
An eCheck is simply an electronic version of a paper check, they function exactly the same way. You can easily send money from your bank account to another, via the Automated Clearing House (ACH) network. This network was created in the 1970’s to speed up payroll processes across the country. With this, checks could now be cleared so much faster. The ACH still exists in the same capacity today and over $43 trillion is moved across the network each year.
Using an eCheck to deposit money is a very simple and swift process, and works just like any other payment method. You need to log into your account and find the cashier section. Scroll through your options until you find eCheck. Type in your eCheck account number and the amount you want to deposit, and then wait for it to clear. This is generally quite a swift process.
eChecks can also be used to withdraw money. Just select the option in the cashier, type in your eCheck account number and the amount you want to withdraw, and wait until it arrives in your bank account.
One of the great things about eChecks is that they are generally a very secure method of moving money. eChecks are hardly ever the source of financial fraud, unlike paper checks. Also any transaction that has gone through the ACH network has to pass a series of security checks and verifications (including verifying that you and your bank account are legitimate, and that your payee and their account are also legitimate).
eChecks are apparently only accepted on reliable and trustworthy sites. This means that the eCheck system itself will no do anything to disclose your personal information, and the site itself can be expected to keep your data private as well.
However, as with any form of payment online, never send money to a site that you do not trust. There is still the risk of the live casino being hacked, or your information being found or used some other way. Withdrawals tend to be slightly slower than deposits, but this is usually due to checks that the live casino must make before they can approve any transactions.
- It is a very convenient payment method
- eChecks are generally very secure
- They are a relatively fast payment method
- Minimal fees associated with this type of payment (but it will also depend on the live casino)
- This method is somewhat outdated, so not all live casinos will accept it
- Paying by eCheck means that you must give your bank account details to the live casino (only do this if you are certain the site is trustworthy)