Many online casinos nowadays have a variety of payment options that can suit the needs of every kind of player. Cheque payments may seem outdated if compared with various electronic wallets and online payment methods. But many online players actually favor cheque payments due to the ease of use and reliability.
A cheque (also known as a check) is a type of document that serves as the payment authorization from your own bank account to a person or beneficiary. In order to issue a cheque, you must have an active checking or current account from a bank where you have funds deposited. This document includes the payment instructions such as the date of payment, the amount to be released from your checking account, and who should receive the payment you are making. You can issue a cheque as payment to an individual or to a company or organization.
Online best live casino websites usually accept electronic payment methods but there are still reliable ones that accept deposits using cheques. Although it may some time for your deposit to reflect in your online casino balance since the cheque must first be received by the payee who will either deposit or physically draw the cheque. The cheque itself needs to be cleared by the bank before the money can be released which will take several days or more.
Cheque Casinos Advantages and Disadvantages
You might be surprised, but the truth is, there are real advantages to using a cheque to deposit funds at an online casino. Here are the advantages of cheques that can make you think about using them once again to fund your online gambling account:
- Simple payment method
One of the best advantages of using cheques for funding a best rated online casinos wallet is the fact that it is very simple to do. There are no complicated processes that you need to understand – just fill up a blank cheque with the correct details and send it to the payee. If you own a checking account and have issued cheques before, you can send your payment to an online casino without any frills and hassles.
- Deposit larger amounts
Although online payment methods are really quick, these processors usually set a maximum amount that can be deposited at a time. When you’re looking to send a large amount to your online casino balance, the cheque is a better option than e-wallets and digital payment facilities since you will be able to send more.
- No need to study new banking options and methods
The cheque has been utilized for so many years, many people are familiar with how the process works. Unlike other new payment methods which can be confusing to understand and use, sending a cheque is as easy as 1-2-3.
- Recognized all over the world
Cheques are a popular method both for deposits and especially for withdrawals at an online casino. You can never go wrong with an established payment method that has been around since our forefathers.
We now know that all types of payments will have about one to two or even several disadvantages. The following are the disadvantages of using cheques for online casino transfers and payments:
- Not all casinos accept cheques
Similar to other payment methods, there are some online casinos that do not accept cheques as a form of payment of the transfer. You will be able to find established online casinos that do accept cheques, but the options may be limited.
- Lack of security
Cheques, unlike a payment method such as PayPal, do not use any technology to encrypt the information or document. Since cheques are usually sent out through postal mail, the cheques can either be lost by the courier or stolen by unscrupulous individuals. Since the cheque payment is done by merely sending out authorization through a small piece of paper, there is really no way to protect or safeguard your money during the entire process.
- Fluctuating exchange rates
You may experience the fluctuation of exchange rates when withdrawing funds through cheque especially if you are paid using another currency. So even if you withdraw your money at a time when the exchange rates were better, given the number of days needed to process and clear the cheque, you will receive an amount based only on the prevailing exchange rate.
- Slowest payment method
We already mentioned earlier on that cheque payments are one of the slowest payment methods especially if you are in a hurry to play your favorite casino games. Now if you do not mind waiting, cheque payments are a good option.
Cheque Casino Deposits
To understand how simple it is to make a deposit at Cheque Casinos, take a look at our simple guide:
- The first obvious step is to sign up to an online casino that accepts cheque payments. After successfully registering, go to the deposits or payments page. Select “Cheque” as your payment option.
- Write a cheque addressed to the online casino. You need to include the following information: the date of payment, the amount of money that you want to deposit to your casino account, and the name of the payee. Consult the online casino’s helpdesk to make sure you are supposed to send the cheque to the online casino’s office or at a payment center.
- Wait for your cheque to be cleared. After mailing the cheque, you will wait for a few days or several days for the bank to process your payment. Once the cheque payment is processed, the money will reflect in your online casino wallet.
Withdrawing your money by cheque is also possible, just follow these steps to redeem the money from your online casino balance.
- Go to the withdrawals section of the online casino and key in the amount that you would like to withdraw. You will have to select whether you want to receive the cheque through regular postal service or delivered by a courier. Courier deliveries will entail a higher fee depending on where you are located. Remember that you will shoulder the fees for the delivery of the cheque.
- Exchange your cheque for cash upon receiving it by drawing the money personally from a bank branch or deposit the cheque to your bank account and wait for a few days for it to be cleared and reflect in your personal bank account.
Cheque Casinos Transfer Times & Support
In comparison to modern payment methods which uses electronic transfers to quickly or instantly process your deposit, a cheque payment will require you to wait for a few days to several days to receive the funds for playing. The typical amount of time it takes to clear a cheque depends on three things:
- The time it takes for the online casino to receive your cheque
- The time it takes for the online casino to process your cheque payment
- The time it takes for the bank to process and clear your cheque
Although Cheque Casinos are one of the simplest methods to cash in at an online casino, there are some issues that will arise which will affect the time it takes to process your transactions such as:
- Lost cheques
- Unprocessed cheques
- Banking holidays
In case you encounter any difficulties or problems with your cheque deposit, you can always reach out to the online casino’s helpdesk or contact the bank processing the cheque payment for assistance.
Cheques are a great option for online gamblers who do not trust or do not want to trouble themselves with the hassles associated with electronic wallets, cards or third-party payment processors for sending and receiving money. Although it may take days before you can finally get to play at your favorite online casino, cheque payments are still considered a decent and reliable means of funding an online casino account. Using cheques to deposit money at an online gambling account may seem outdated compared to the vast electronic payment options that one can utilize nowadays, but Cheque Casinos have unique benefits that set it apart from the multitude of payment processors. With cheques, you will be able to send more money to your online casino wallet which is not possible with other payment methods. You can also opt to withdraw your money through a cheque. But the best part is, you can be eligible for a bonus when you deposit and play at Cheque Casinos!