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Benefits of Using Electronic Checks

The following are the main benefits of using an electronic check for online financial transactions:

• While a paper check can take up to 10 days to process, an electronic check is processed in an average of four days (although it can be less than one).
• There are fewer people involved in processing an electronic check, so billing costs to the customer are lower. In some cases, this amount can be reduced by 60%.
• Because paper checks are not transported, it reduces greenhouse gas emissions by 3.6 million tons and saves more than 64 million gallons of fuel.
• It's more anonymous and secure than a paper check.
• If you don't have a credit or debit card, the retailer can still accept an electronic check as a form of payment. This is usually not the case with a paper check.
• The person receiving the money has to pay a lower transaction fee.
• Those who use or accept electronic checks report less fraud.
• This payment alternative offers merchants an additional way to increase their business.
• Because fewer people are involved in the eCheck payment method, the chance of human error is reduced.

Disadvantages of using electronic checks

If you're skeptical about using electronic checks, the following disadvantages may scare you off forever:

• The recipient must wait for the electronic check to clear before they can access services.
• It often takes several days for the check to be cleared.
• Electronic checks do not generate a cancelled copy for your records.
• Within 60 days after the payment is made, the issuing party has the option to dispute the transaction. In such cases, the receiving party's account is credited with a refund.
• If there are insufficient funds in the account, an electronic check can bounce, just like its paper counterpart.

Why some casinos are rejecting electronic checks

With most types of online financial transactions, the process is resolved in seconds. This means that a gambling player can quickly deposit funds into their account and gain access to slots (or any other game you prefer).

However, with electronic checks, the casino must wait an average of four days for the check to clear. This is more than enough time for the player's enthusiasm to wane, and he may even turn to another casino during this waiting period. Of course, the recipient still has a deposit, but he may lose valuable business in the long run.

As with a paper check, there is the possibility that an electronic check will be canceled due to insufficient funds in the player's bank account. This creates extra work for casino employees, so this method is often seen as a potential headache best avoided.

How to use e-check

In this section, we will look at how to use an e-check to deposit funds into your casino account. The process is simple, which makes it even more tragic that more casinos do not accept this option.

The first step is to log into your e-check provider account. There, select the amount of the transaction and enter the recipient's email address. If your bank account information is already on file, you can complete the transaction with one click. Otherwise, you will need to enter the details before you can complete the process. PayPal is a good example of the convenience of e-check, even though they have strict policies regarding the processing of funds for online gambling purposes.

Alternatives to electronic checks

If your favorite casino doesn't accept electronic checks as a payment method, you still have a few options. To make things easier, we've listed the most popular and widely accepted methods. To find out if a particular option is accepted at your casino, simply click on the tab labeled "banking" or "cashier."

Neteller - players can load money into the casino directly from their bank account. In the past, 80% of the online gambling community used its services. UIGEA put an end to Neteller's participation in the U.S. market, but they remain a major force in other parts of the world.

Skrill - this service supports over 40 types of currencies and funds can be transferred from your bank account or prepaid card. Formerly known as Moneybookers, this service is not available in the U.S. and some EU countries.

Wire transfers - While this is a viable option for U.S. players, services such as Western Union allow customers to physically visit a bank branch to arrange a transfer. It's not as convenient as depositing at an online casino, but those with fewer options are spoiled for choice.

Debit cards - With this payment method, you can deposit money from your bank account or load the card with a certain amount of cash. I suggest the latter, as it ensures that eager or troubled punters don't blow their savings overnight.

Credit cards - Visa and MasterCard are available as payment methods, and American Express can still be found in a small number of casinos. Just enter your credit card number and you can deposit up to your credit limit (although I wouldn't recommend such extreme spending).

Online casinos with electronic check are less common than you might expect, though they still exist for persistent players who want to find them. While this method of payment may be useful for those without a credit or debit card, it is ultimately recommended to use Visa, MasterCard or e-wallet services as a more suitable alternative.