eCheck Casinos

The idea of presenting a bank with a written directive to pay a person money from an account has been around for more then 2,000 years. The Bank of England issued the first pre-printed check forms on paper in 1717 and complete checkbooks from the 1790s have been found in America. In their heyday in the 20th century, Untied States banks processed about 70 billion paper checks a year. Check use has declined in the digital age but millions of people still rely on paper checks and feel most comfortable using them, including large numbers of gamblers.

What is an eCheck?

An electronic check, or eCheck, links directly to a bank account, just like a paper check. eChecks contain the same information as paper checks – most importantly the bank routing number and account number. An eCheck can be exchanged directly between parties and used anywhere a paper check is accepted. It is as valid a negotiable instrument as a paper check, backed by the established legal framework of civilized societies.

eChecks are written with Financial Services Markup Language (FSML) using emerging technology that is still evolving. Secure hardware tokens and digital certificates give eChecks greater security than paper checks. Enhanced security means verification goes through fewer steps so account information goes before fewer eyes. In addition, eChecks employ encryption and public key cryptography. Even if the cryptographic protections are broken it would not necessarily permit a fraudulent transaction to be paid, thanks to such added steps as duplicate detection, automatic verification and validity. eChecks reduce fraud losses for everyone involved in the transaction and protections such as stop payment can still be applied if things go awry.

What Types of Players Prefer eChecks at Online Casinos?

There are still plenty of people suspicious of using credit cards online, sending out personal information into the mystery world of the Internet. Others do not like to be bothered with hordes of passwords, especially if accounts are open at multiple online casinos. To the rescue rides the eCheck, which is simple and reliable and familiar. It helps bolster the confidence of these paper check-centric players that the United States Treasury Department issues eChecks for tax refunds these days.

Even though an eCheck is safer than a paper check it still does not carry the assurances of a credit card to dispute charges in casino transactions. On the other hand, initiating disputes between your credit card company and an online casino opens the cardholder up to all manner of unwanted scrutiny form the issuing bank regarding personal responsibility and credit worthiness. To sidestep these potential minefields the eCheck, which carries no personal information and triggers no credit worries, is an attractive option.

Withdrawals using eChecks, when allowable, are faster than other payout methods because there are less security hurdles to clear. Transaction fees should be low to non-existent since processing costs are minimal.

Tips for Using eChecks

No matter how safe, rather than expose your entire checking account to potential theft players should open a special bank account just for online casino play and fund it only with enough money for one or two sessions of play at a time. If your information is compromised only a small amount of a bankroll is imperiled. Make sure the special gambling account is funded before issuing an eCheck because they can bounce, carrying the same exorbitant fees and penalties as a paper check.

Along the same lines, it pays to be more judicious in evaluating the many online casinos available. With eChecks stay true to the known and trusted operators because without a credit card there is no recourse for a lost deposit beyond filing a dispute with the bank.

Acceptance of eChecks at online casinos is far from universal, especially for players in the United States. So while a separate gambling bank account is a good money management strategy, relying solely on eChecks for deposits with virtual cashiers can be a trying experience. Some casinos restrict the amount of deposits via eCheck until a reliable clearance history has been generated.