Some believe that echecks are one of the most convenient payment methods for online betting and those argue the opposite. Although echecks are not one of the most used methods by most players, they are still in use.
It happens that paying by check is as traditional as using a credit or debit card, so many people feel very comfortable using it. Those who had and still have the habit of signing checks for any need prefer to use echecks to deposit money into their casino accounts.
That is why many casinos accept this payment method, among many others. Are echecks convenient methods or not? To find out, we will review the advantages and disadvantages of this payment method; and provide you with the necessary information to bet at the top echeck casinos. Let’s get started!
How do echecks work?
Echecks work the same way as traditional paper checks; in fact, the term “eCheck” is derived from “electronic check,” so you can imagine how similar they are.
The mechanism is the same; the difference is that instead of writing a physical check, a virtual check is completed. Once all the data is entered, the bank processes the transfer information and moves the money from your bank account to the merchant’s or supplier’s account.
Despite being a digitized process, it is very secure since banks have the latest technology in cyber security to protect your data and keep it private.
Advantages and disadvantages of using echecks to gamble online
Any payment method has advantages and disadvantages; let us see the advantages and disadvantages of echecks.
Pros of using echeck for online gambling
* Echecks are a very secure payment method in which a bank account is used without the need to expose private information.
* It is a very normal payment process, similar to physical checks.
* It is a simple and easy method.
* The person receiving the payment can never see the bank details of the person issuing the check.
Cons of using echeck for online gambling
* Not all online casinos accept this payment method.
* It is one of the most time-consuming methods (taking up to 5 days of clearance) compared to others, such as cryptocurrencies, which are deposited and withdrawn instantly.
* In some cases, echeck transactions involve fees.
Which are the best online casinos to gamble with echeck?
The top echeck casinos offer various casino games, the most convenient casino bonuses, and fast and secure transactions. According to our experience, the best online casinos that accept echecks are BetOnline, Jackpot City, Wild Casino, Betway Casino, and Sports Betting.
Of course, there are many others, and we are not saying they are not good; we are just recommending the ones we find out to be the best based on the ones we could test.
What are the fees, limits, and clearance time involving echeck transactions?
Each online casino stipulates its own percentages and numbers regarding the limits and fees that each payment method can comprise.
In general, the limits stipulated by the casinos (especially the withdrawal ones) are usually low at the beginning. Still, the casino automatically increases the limit as the player keeps betting through the same payment method.
On average, the casinos we recommend above stipulate a minimum deposit of $50 and a maximum of $120 when using echeck as a payment method.
As for the fees, these casinos charge approximately a 4.5% surcharge for processing echeck transactions.
The clearance time for echecks is quite fast compared to regular checks, since they usually take 4 or 5 days. However, they are pretty slow compared to other methods, like cryptocurrencies, which are processed instantly.
It is impossible to determine whether echecks are a good payment method since it depends a lot on the needs and tastes of each player.
As we have already mentioned, echecks carry pros and cons like every other payment method; therefore, defining whether betting through echecks is the most convenient way is subjective.
We hope that after reading this article, you will be able to draw your conclusions and define if echecks are a good payment method for you or not