Pros and cons of using ACH
Like most betting payment method, ACH bank transfers have plenty of advantages and disadvantages. Here are the main pros and cons to consider:
Pro and Con
- Available at most casino sites
- Only needs you to have a bank account
- Ultra-secure payments thank to latest digital encryption technology
- Fast for deposits
- No third-party verification required
- Relatively slow withdrawals
- Must provide banking info
- Need to have a bank account
The basics of ACH bank transfers
Obviously each online casino that accepts ACH bank transfers will have their own ways of doing things, but here’s what you should expect:
| ACH Bank transfer |
Deposits |
Withdrawals |
| Limits |
$10/20 – approx $10,000 per day |
$10/20 – approx $10,000 per day |
| Timescales |
10 minutes |
No longer than six working days |
| Fees |
None |
None |
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Making a payment with ACH – What you must do at online casinos that accept ACH
As far as
gambling sites deposit options
go, Automated Clearing House (ACH) is a firm favourite of casino providers as the transactions are cheap and simple to process. Less work for casinos means better rewards for you, and this is reflected in the generosity of ACH bonuses. They are typically some of the best promotions around.
But how do you make a payment with ACH? And how do you do it correctly? Donât worry because the process is very straightforward and not as confusing as you may assume. Continue reading for more.
How to make an ACH deposit at an online casino
- Sign up to one of our featured online casino sites
- Verify your account with a photo ID
- Click on the Cashier icon
- Hit the Deposit button
- Select ACH bank transfer and follow the on screen instructions
For withdrawals, you follow the same steps but choose ACH from the options menu when removing money from your account.
Withdrawal and deposits with ACH: What are the average time scales for payments for online casino ACH?
Once you attempt to deposit or withdraw money, the online casino will contact your bank. This means you will have to confirm the transaction. The reason ACH is also known as an echeck is that your bank issues one to the casino. This is also why providers are referred to as echeck casinos.
Of course, you want the money to arrive in your casino or bank account as soon as possible. That way, you can start playing straight away or start spending right away. However, this is where things get a little tricky.
Average Timeframe
Although you canât guarantee when the money will arrive – itâs down to your bank and the casino – it usually takes anywhere between one to three days. Why? Itâs because the money must be cleared by the relevant bodies before you can start spending it.
How does this compare?
The obvious comparison is with credit and debit cards and e-wallets as they are the most popular form of payment. Like echeck casinos, youâll be glad to hear that the former can take as long as ACH transactions. E-wallets like Skrill and PayPal are almost instantaneous, making them quicker, which is why
online casinos that accept Skrill
and PayPal are more popular than ever.
How long is too long?
Three days is about the limit. Anything longer than that, and you should contact your bank or the operator to ask them what is happening with your money. Of course, echeck deposits and withdrawals can take between one to three working days, so thereâs a good chance the payment will be signed off sooner.
ACH verification requirements – Opening an account with ACH at echeck casinos
Verifying an account using ACH isnât the same as using an e-wallet or a credit card. With those, players input their details and the operator can complete a credit check. Sometimes, users must add Social Security Numbers, but itâs not always required. At echeck casinos, credit checks arenât necessary.
The question is, how does an ACH provider tell the real from the fake? The answer involves a couple of extra details that most people wonât have to hand, so itâs essential to learn more about them. For the first deposit, the business in question will always ask its customers to supply a checking account number and a routing number.
A checking account number is obvious as it is exactly how it sounds. A routing number is used to identify each banking institution with a unique numbered code. Typically, the information is possessed by banks, which means the easiest way to obtain the info is to speak to them directly.
There are instances when a checking account number and a routing number arenât applicable. If a player has signed up at a
VIP Preferred casino
before, for example, they donât need to re-register.
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The history of ACH – Where it all started
In a way, echeck deposits seem as if they have come out of nowhere. After all, checks were left behind as wire transfers and contactless payments became the norm. Today, there are several ways to pay for services without a check, such as electronic billing and payments platforms. Online casinos have readily adopted these methods.
It isnât the only way to transfer funds to and from your accounts, either. Play+ is synonymous with the online casino industry and has transformed into a major player. Nowadays, a
Play+ casino
lets you collect winnings, loyalty points, and link your credit and debit cards to your account through an app. Thankfully, checks evolved with the times and became the electronic platform that we see and use today. It took a while, but it finally adapted with the times to compete with its rivals. Hereâs how:
The technology has been around the block
ACH started in the 1970s, making echeck deposits one of the oldest payment forms in the world. By creating an open-loop system, banks could clear settled checks and process unsettled ones between themselves. They did it by calculating a net amount to charge, thus opening up a new avenue for electronic transactions.
ACH became repetitive
This isnât as bad as it sounds, not from a financial point of view. Where transactions are concerned, itâs better for financial institutions because it means they can process a high number of them very easily. A knock-on effect of this is that the process becomes low-risk and less expensive, two features that are synonymous with ACH payments.
Itâs the only push and pull payment option
If youâre wondering why a system created to deal with checks is still around, the answer is that itâs the only transaction method that allows for push and pull payments. Push is where the customer sanctions the money leaving their account, and pull is when a payee requests the money.
Put these three things together and you get a financial process that remains popular throughout several industries, including the online casino sector. The demand for echecks highlights its legitimacy, too. After all, we wouldnât recommend them if we hadnât tested them first!
ACH compared to other providers – Do echeck deposits compare to card payments and e-wallets?
Online casinos are notorious for offering an eclectic mix of payment methods. By doing this, they ensure the user experience is high for most of their customers, which is a smart strategy. On the flip side, however, it means that echeck casinos will have more than one focus. How do echeck deposits compare to other payment platforms? Letâs take a look.
Credit & debit cards
As far as remote payments are concerned, credit and debit cards are the kings. In general, 65.6% of people in the US own and use a credit card, while the percentage for debit cards is greater. So, itâs unsurprising both have become staples of the online casino industry. After all, they are widespread among operators of all sizes due to their prevalence in overall life. Finding a casino that accepts cards compared to ACH is easier because the former is almost mandatory.
There are also no restrictions regarding timings. Online casino players can deposit and withdraw money 24-hours a day, seven days a week. An echeck requires a code from the bank, so it isnât as flexible. However, since echeck deposits are processed in high volumes and cost less, there are fewer fees. Credit and debit cards, unfortunately, often charge money to cover the operatorâs costs.
E-wallets
E-wallets, otherwise known as digital wallets, are growing all the time. PayPal is the most common example, but the odds are high youâve heard of others too. For example, Skrill, Neteller and PaySafe are very useful platforms for online gamers. Donât get these mixed up with electronic billing services like PayNearMe. An
online casino with PayNearMe deposit
capabilities is worth considering, but it isnât an e-wallet.
The main benefit of an e-wallet is its high level of security. As your bank details are stored on a safe platform, it is hard for a hacker to obtain your private information. Transfers can be made rapidly, too, since thereâs no need to remember your card info. Although transactions are quicker, ACH payments are reliable and fast, so there isnât much difference on those fronts. E-wallets may charge fees depending on the provider, so watch out for possible charges.
Other reputable payment options
Three essential facts about using ACH – Keep these ACH online casino facts in mind
Of all the facts you need to keep in mind regarding ACH casinos, weâve outlined three we believe to be the most important. When you opt for echeck casinos, please factor in the following before making a payment. Otherwise, you may make a mistake that you can easily avoid.
ACH transfers are impossible without a bank account. When you tell your bank you want to deposit or withdraw money, it must create an echeck. Also, the bank needs to clear the money just like a physical check. So, if youâre not prepared to link your details to an online casino account, echeck deposits are suitable.
With a credit card, you can spend money that you donât have. The same applies to debit cards (if you have an overdraft). Since echeck deposits follow the same rules as traditional checks, an echeck will bounce if there arenât enough funds in your account. Therefore, itâs wise to confirm how much you have to spend before spending it.
Waiting isnât necessary
Bonuses for ACH users are as common as card promotions. However, there is the issue of waiting for the money to clear. To get around this, online casinos designate the payment as âunverifiedâ. So, you can carry on playing, and when the echeck clears, your bonus will be added to your account.
Another fact deserving a mention is that youâll need to share your bank account information, such as your checking and routing numbers. Lots of people donât know these by heart, which is why itâs often necessary to speak to your bank.
Conclusion – Is an ACH casino worth it?
The short answer is – yes, an ACH casino is a fantastic choice if you want to make an echeck deposit. Some negatives do apply, such as the need for the money to clear and the fact that echecks arenât available 24/7, but the pros outweigh the cons.
For instance, they are reliable and safe, just like an e-wallet. Lots of payment methods donât offer the same protection, such as card transactions, as they can be intercepted. Plus, online casinos love customers who use ACH, so most operators offer the service. Even better, they encourage people to adopt echecks by making them applicable with bonuses. Head to the likes of BetMGM, FanDuel and DraftKings to claim a juicy promo and start playing right away!
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Echeck casinos FAQ
đ How do echeck deposits work?
Online casino payment methods are varied because customersâ needs differ. For example, you may prefer to use ACH while a friend likes credit and debit card transactions. At echeck casinos, ACH is another way to cater to every need and make sure that the user experience doesnât suffer. Thatâs why so many operators provide the service. Once you attempt to deposit or withdraw money, the online casino will contact your bank. This means you will have to confirm the transaction. This is also why providers are referred to as echeck casinos. To find out more about how echeck deposits work, please refer to this guide as it tells you about everything you need to know, from deposits and withdrawals to essential ACH facts.
đ¤ Are echecks and ACH the same?
ACH stands for Automated Clearing House, whereas echeck is short for electronic check. The terms are used throughout the online casino industry, which means youâll come across them a lot when you research the payment methods operators offer. Thankfully, the phrases donât have to be confusing any longer because this article outlines what both terms mean and how they relate to each other. You can find other helpful guides on the ins and outs of every payment method offered by operators right here at Wetten.com!
𤢠Can anyone use echecks?
Echecks are like card payments and e-wallets in the sense they are almost always accepted by online casinos. But like other transactions, conditions do apply that you must adhere to, or else you wonât be eligible to use ACH to deposit or withdraw money from your account. You can learn more about the terms and conditions of echeck casinos by reading our handy guide. It gets right into the nitty gritty of ACH payments so youâll have all of your pressing questions answered..
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