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Online Check acceptance Online Casino

Online gaming can be a risky business if you’re not smart about it. As a consumer, this includes your method of payment when funding your gaming account. As a merchant, this includes securing funds from your gamers while also protecting their best interests. As the challenges of online casino payments persist, many operators are moving towards eChecks as the preferred method for customers to fund their accounts. Keep reading to learn more.

Can You Pay With an eCheck at an Online Casino?

Customers can fund their accounts using an eCheck in several online casinos. In fact, for many casinos, this is the preferred method of funding an account. Most casinos offer a variety of options but tend to prefer eChecks because they are more secure. They also represent less risk to the consumer than credit card payments.

How Are eChecks Processed at Online Casinos?

eChecks are processed through the ACH system. ACH stands for Automated Clearing House. This is a network that connects financial institutions across the country for the purpose of electronically moving funds from one account to another. The ACH is managed by a larger entity called the National Automated Clearing House Association (NACHA), which governs the activity of the ACH and ensures compliance and security.

The most common type of ACH payment is the direct deposit that many companies offer their employees. Through the ACH network, an employer can directly move funds from their payroll account into an employee’s bank account. In the same way, customers can use an eCheck (ACH payment) to move money from their bank account into their gaming account.

When a customer wants to fund their gaming account, they simply create an account on the casino’s portal, and enter their ACH information on the “fund” or “pay” screen. The information necessary includes, but is not limited to the following:

  • Bank Routing Number
  • Bank Account Number
  • Name on the Account
  • Billing Zip Code
  • Amount of Transaction

Some platforms will require additional data points, but most will need these basic pieces of information to complete the transaction. Once the money is in your account, you can use it online to play a variety of casino games.

How Long Do eChecks Take to Clear in Online Casinos?

Using an eCheck at an online casino is no different than using it for other online purchases and will therefore take the standard 3-7 business days to clear. Some eChecks can clear in as little as 48 hours, but most take several business days. This is typically due to the time it takes to process a transaction through the ACH.

Transactions being processed through the ACH must follow a specific set of protocols and be approved by multiple entities before being cleared. When the customer enters their information into a payment gateway, that information is encrypted and sent to their bank for approval. The bank will verify all the information and confirm that there are sufficient funds in the account to cover the transaction. From there, the information will be sent to the casino’s bank where another round of authorizations must occur.

Once all parties involved have confirmed the information, an approval will be issued. At that point, the money will be moved via the ACH from the customer’s bank to their online account, which is held by the casino’s bank or merchant account provider.

Benefits of Paying With an eCheck at an Online Casino

The process may seem complicated, but there are many benefits to using eChecks in an online casino. Below is an overview of the benefits for both merchants and consumers.

Benefits for Customers

Additional Security – The process described above is a simplification of the ACH system that authorizes and approves eChecks for transactions. eChecks are one of the most secure forms of payment available, which allows customers to have peace of mind while gaming.

Easy to Use – Most eCheck payment platforms are user-friendly and available on desktop and mobile devices. This makes the process simple for a gamer who wants to transfer money into their online casino account. It’s also simple to cash out and move your winnings from your casino account back into the bank.

Low or No Transaction Fees Many merchants pass processing fees on to their customers who pay them when completing transactions. Another great benefit of eChecks is that the fees are much lower than fees for card payments. If you have to pay the fees, you might as well pay the lowest ones possible!

Protect Your Own Interests – Using eChecks to fund your online casino account guarantees that you only use cash that you already have. In fact, the eCheck option was adopted by many casinos after seeing the impact that credit card funding can have on their customers. Gamers who struggle to hold themselves accountable could risk running up some major credit card balances if they use cards instead of eChecks.

Benefits for Merchants

Additional Security – Safer customers means a safer business for you. If you own or operate an online casino, offering the eCheck option to your gamers shows that you care about their security. If you encourage consumers to use this option, their payments will be more secure, and they will build trust in your business.

Low or No Transaction Fees Lower fees are like music to a merchants’ ears. Payment processing services can be costly but offering eCheck as a payment option can drastically decrease what you’re paying in fees, which impacts your bottom line in a positive way.

Control Your Business – In many cases, you can control the amount of money that can be processed in a single transaction using an eCheck. Many banks also have this safeguard in place. It is designed to protect the consumer from spending more than they want to and protect the merchant from unwanted chargebacks.

Fewer Chargebacks – Speaking of chargebacks, eChecks can reduce the amount that you have in your business. Since the ACH process is so extensive, chargebacks for eCheck transactions are less frequent and less likely to be honored. The additional security during the clearing process pays off on the backend with reduced risk of chargebacks.

Final Thoughts

There are tons of online casinos that accept eChecks, but you’ll have to do some due diligence to find them! If you’re not already involved with a specific casino, try some of these to see if they have services that meet your needs.

Using eChecks to fund your online gaming account can be a really smart move. You not only get enhanced security features from the ACH, but you also have built-in protection against credit card debt! If you’re a merchant looking to offer eCheck as an option for your customers, we highly recommend it. By doing so, you are showing your consumers and the entire industry that you care about your gamers and are willing to keep them safe while they’re online.