eChecks, as the name suggests, are an electronic take on the traditional paper check. In the same way as a traditional check, this electronic version takes three to five days to transfer from your account to the receiving account. What this means is that the funds will not leave your account for a few days after you have started the transaction. Most online casinos will credit your account with the funds while the transaction is being processed, however, they will not allow you to withdraw those funds that are yet to be cleared. Once cleared they will then allow withdrawal.
eChecks require no additional account to deposit cash into a casino, which has increased their popularity. They are still used far more in the US than in Europe, however. By taking the money directly from your bank account, there is no need to attach a credit or debit card to your account, something which could help you feel more secure. Along with this, as the money comes directly from your account, you don’t have to worry at all about credit card bills.
So, eChecks are a great way for you to transfer money if it does not need to reach its destination instantly. Because you are not providing any extra information to the casino you’re depositing money with, you can be assured that this is also a safe and secure method of transferring large sums. However, be careful that you keep enough money in your bank accounts to honor these eChecks, as if one fails to clear you may find yourself with restrictions upon your casino accounts or even worse, additional charges. As with all money issues, be careful but with eChecks, you can be sure your money is secure.