An eCheck is literally an electronic check book. It can be called an instant or paperless check and can be used anywhere a normal check is used. It is one of the safest ways available for transferring funds of funds digitally. To fund your Slots account with eCheck, you will have to provide certain information to the Slots site, so that it can protect itself from non-sufficient funds charges. The slots site will then deposit the requested money in your account. The check is then forwarded to your bank which clears it and charges your account.
In this article, we will take a look at the eCheck service currently available to the gambling community and consider how good it is for the purposes of playing slot games.
Pros of Using eCheck to Play Slots
In this payment system, the customer virtually writes a check electronically and then gives it to the Slots website or any other web service. eCheck prioritizes security and privacy for its users.
It uses digital signatures, user authentication and complex encryption to guarantee the security it promises to its customers. Because it can be used in all places where checks can be employed, it’s a very convenient method to transfer money in the cyber world. Almost all checking accounts work with eCheck.
The company has an excellent safety record. Each eCheck is automatically equipped with a digital fingerprint to prevent fraud and is tracked in a manner similar to paper checks. Anyone familiar with writing checks can use eCheck easily. The best part is that it’s a relatively cheap service, with fees of no more than $2.00 per transfer.
After you win while playing Slots, you can use the same system to withdraw your winnings and transfer them directly to your bank account. Withdrawals are possible via this Once you start using the system, you can only use 2 eChecks for the first 48 hours. This restriction is lifted after the first 2 checks are cleared.
Cons of Using eCheck to Play Slots
Although eChecks are good at what they are meant to do, it does not mean that they are the perfect solution to your needs. There are some serious downsides that you need to consider before you decide on this payment method.
As it happens, eCheck is not as popular as it really should be. This service is only supported by a small number of online casinos and does not enjoy the best reputation among players. This is simply due to the fact that eChecks have mostly become irrelevant for many players when there are credit cards and eWallets available. The truth of the matter is that eChecks are simply not used as much as other payment methods and this directly correlates with the low acceptance rates. In most cases, you will find that only larger casino brands support payments via eCheck, while the lesser-known websites give preference only to the popular services, such as credit cards, prepaid cards, eWallets and so on.
Not only are eChecks scarcely supported by online casinos but banks seem to be dropping them as well. Nowadays, most transactions are handled via credit card or bank transfer and there is very little that these two payment methods cannot accomplish. Simply put, many banks have no incentive to support eChecks since they are not as useful as some people would think.
eCheck Used by Slots Players
Typically, every type of player may choose to make use of an eCheck service and receive their money’s worth. Usually, this service benefit primarily casual players and mid-rollers, due to the fact that eCheck transactions at online casinos can rarely exceed $1,000 at once. High-rollers will no doubt be disappointed by the low limits and should probably seek another means of transacting large sums of money.
When it comes to playing slots, one must also take the betting limits into consideration. More specifically, when using eCheck as the main transaction method, one could easily maintain a stable bankroll, as long as they keep their bets on the low end. If however, one wishes to bet big, then it would be highly impractical to use eChecks as the main deposit method. Due to the low deposit limits, a high-roller will only be able to play a few spins before running out of cash.
eCheck Taxes, Deposit and Withdrawal Times and How They Affect Slots Profit
Of course, no service is really free and there is a certain cost to bear when making a transaction via eCheck. The average cost of an eCheck transfer will usually be no higher than $2.00 and is something that anyone can afford to pay. In terms of transaction times, you will find that deposits made via eCheck will be processed within a matter of seconds and you will be able to play your favorite slots almost immediately.
Withdrawals, on the other hand, are a completely different matter. The typical eCheck withdrawal can take up to 10 business days to clear and that is only after the casino confirms the transaction, a process that can take up to 48 hours.
What you should take from this article is that eCheck transactions are a mixed bag. They are relatively inexpensive and deposits go through in a few seconds, but withdrawals can take a long time to process. Moreover, the low rates of support from gambling websites do not do them any favors.
If you believe that eChecks are the best for you and your online casino of choice accepts them, then you should use them. But if you have doubts about the service, then we suggest that you look at other potential payment methods.