What is an eCheck?
An eCheck is a type of electronic funds transfer (EFT) that is overseen by the Electronic Check Council (ECC) – a US organization that develops solutions enabling the conversion of paper checks into electronic formats. Founded in 1995, the ECC is responsible for the design, monitoring and promotion of these solutions, and has over 140 members made up of financial institutions, vendors, retailers and other associations.
Also known as electronic cheques, online cheques, or internet cheques, eChecks are the digital versions of physical paper cheques and can be used as a useful depositing method at many Canadian online casinos. eCheck payments are only available to those with a chequing account, which is where the money is electronically withdrawn before being deposited into another designated bank account.
eChecks work in exactly the same way as physical cheques, but processing is automated and therefore much faster. Casino players using eCheck payments will be required to enter their name, bank account number, and bank routing number when submitting an eCheck deposit; the casino will then contact your bank, who will in turn call you to confirm the transaction. This process is slower than other depositing methods at gambling sites, and it can take between 1-3 working days before your funds appear in your casino account.