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In basic terms, cheques are monetary transfer orders. A cheque will always have the name of the payee written on it, as well as the bank name, and account number of the payer. Cheques use the signature of the payer or the account holder to confirm the authorization, and must ultimately be redeemed by the payee through one of the financial institutions that can debit funds from the account of the payee. It might take some time for the cheque clear, with the whole method not being instantaneous.
Cheques still remain relevant as a payment method at online casinos, despite other, more convenient and reliable methods at the player’s disposal. This is because cheques are always available for withdrawals at online gambling sites, and some of these sites even allow for personal cheques to be mailed to the company address for deposits.
Why Use Cheques at Online Casinos
Despite being a very old-fashioned banking method, cheques have the advantage that online casino players do not have to enter any of their personal or banking details anywhere. And, while some people might not be entirely on board with cheques, licensed online casinos are very dedicated to making sure this remains a safe and secure banking method. Technically, cheques are the most secure banking method, even more so if the player uses a traceable postal service.
Among these reason, we should also point out that cheques are a tested and common payment method, as well as a very suitable one to make large cash deposits and withdrawals. Cheques are ultimately a very convenient way to avoid having to deal with banking options that require a lot of personal and financial information. The only disadvantage cheques carry is the time is takes for a cheque to be processed. It can take a long time for your cheque to be mailed to the online casino’s address and then you have to wait for the funds to be cleared. This can take anywhere from a week to 21 business days. The same applies to withdrawals, as players first have to wait for their cheque to arrive in the mail and then wait even more for the funds to finally clear.
Paper cheques are probably the safest way to make deposits and withdrawals. While electronic deposits and withdrawals require players to send through a lot of personal information, as well as casinos using at least 128-bit SSL encryption, a paper cheque only requires you to send it to the address of the online casino. Banks will not process the payment of a lost cheque without the proper identification, making it a very secure, if a very slow option.
The most common cheques are available at basically any bank. We’ve already mentioned that cheques are the safest way to send and receive monetary funds, but they are also somewhat outdated and time consuming. If you wish to use cheques, all you have to do is simply ask at your bank whether or not they offer this as payment method.
Online Casinos Accepting Cheques
Cheques are one of the most widely accepted payment method at numerous online casinos. Most casinos will let you cash out using cheques, although this method might be a bit more expensive than the other ones available to the players. If you are looking for online casinos that accept paper cheques, here are the best choices.
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