The acceptance of electronic checks through online casinos is cyclical – they come and go, being accepted one day and thrown out the next. In spite being one of the most favorable deposit methods ever added into an online gambling site, e-checks tend to vanish just as quickly as they are added into a gambling site. Unfortunately, we are currently on a downswing.
E-checks are primarily used by American gamblers, as they make for rapid, inexpensive transactions directly from a bank account. The e-check method would allow players to transfer money directly from a checking account, depositing funds instantly and generally without fees.
Various explanations have been given surrounding the constant disappearance of e-checks, though we had gone to banking industry expert in order to find out the true reason e-checks are constantly disappearing through online gambling sites.
“The reason electronic funds transfers frequently disappear is because of inconsistent payment processors,” began our source, who preferred to remain anonymous. “The Unlawful Internet Gambling Enforcement Act is something all banks enforce, and EFTs are easier to monitor and subsequently regulate than credit or debit card transactions.”
E-check casinos, sportsbooks and poker rooms generally put e-checks up on the list of deposit methods for a few weeks, perhaps a few months at the most, before they disappear once more. The speed at which e-checks disappear can sometimes be detrimental, but most players have simply foregone waiting for electronic checks as a viable deposit method.
For now, players have to make EFT deposits by way of e-wallets, such as MoneyLineWallet and MyPayLinq.