eCheck stands for “electronic check”. An eCheck can be used from transferring funds electronically from the consumer’s bank account to the vendor’s bank account. The mechanism of the electronic funds transfer is the same as that when paper checks are used. The difference is that the funds are transferred much more quickly.
One of the main advantages of eCheck is that it mirrors the paper check and therefore people are dealing with something that they are familiar with.The eCheck contains the same information and operates in the same legal environment and therefore imparts a comfort level to its users. This is why many online players are switching over to eCheck.
The eCheck is a secure mechanism for transferring funds electronically. eCheck follows all the strict security procedures that include ID verification, 128-bit SSL encrypted communications and industry standard data encryption of sensitive personal information. Therefore players need not worry about identity theft and misuse of funds when using eChecks.
eChecks fees are normally covered by the online casinos because they are very nominal. However fees may have to be paid if a player issues an eCheck without there being sufficient funds in his account. Some fees may be charged by the player’s bank for which eCheck is not responsible.
ECheck are in use worldwide. Unlike may payment methods, eChecks can be used by players from the United States and Canada, which is great news for them.
When eChecks are used to make deposits to online casinos they are immediately credited in the player’s casino account even though the funds are not actually transferred from the player’s bank account. Internet casinos keep these funds in an “uncleared status”. This means that they allow the player to wager with the funds but they do not permit a withdrawal from these funds till such time the funds are received from the player’s bank. If there are insufficient funds in the player’s bank account and the eCheck is dishonored then the online casino will not allow the player to even wager with the uncleared funds.
The eCheck deposit option is usually a part of the online casino’s software. The player has to register with the online casino, log in and access the “deposit” function in the Cashier section. There the player should choose the eChecks option. The amount to be deposited should be entered in U.S. Dollars, since that is the currency eCheck operates in. Some casinos allow players to enter the amount in other currencies and convert it to U.S. Dollars at the current exchange rate. Players need to enter the check number from a personal checkbook, since that backs the electronic transaction. The tansaction is given effect to by clicking the “Submit” button. It is recommend that players print the image of the eCheck for future reference.