eCheck

An eCheck is a fast and efficient method of transferring money from one user to another. Essentially, it has brought the traditional cheque payment up to speed with the modern, digital world and allows people to safely and securely transfer money to someone else’s account in an instant. In this guide, we are going to look at how you can use an eCheck at an online bookmaker in Canada.

Can you use eCheck for betting online in Canada?

Almost every Canadian bookmaker has now welcomed and embraced eCheck as a common payment method. Both users and bookmakers themselves really appreciate the speed and security at which transactions can be processed using eCheck.

This means that whether you are betting on sports, slots, table games or live dealers, you will find a suitable Canadian online bookmaker that will accept your deposit via eCheck. Its flexible, simple to use, and supremely safe, so it has become increasingly popular with Canadian bettors. 

What is eCheck and how does it work?

eCheck, or an electronic check, is a form of electronic payment that allows users to pay for products or services directly from their bank accounts. It works much in the same way that a paper cheque works, but the ‘e’ means it is all handled electronically online, bringing cheques into the modern age. It is to cheques, what emails are to letters. The same information that is required on a traditional cheque is also required on an eCheck. You will need to write the name of the receiver and the amount you are transferring before they send it through.

When you use an eCheck, the money is instantly transferred from the payer’s account into the payee’s checking account, so it works much more efficiently and smoother than a traditional cheque. There is no delay for postage etc., and the money is moved immediately. The money will arrive in your betting account immediately, but there can be a delay of a day or two before the funds are withdrawn from your bank.

Are there any fees for using eCheck on Canadian betting sites?

Like with many deposit methods, the terms and conditions when it comes to fees when using eCheck often lie with the bookmaker. There is rarely a hard and fast rule that all Canadian online bookmakers follow when it comes to fees. 

The fees involved with eCheck bookmakers vary depending on the provider. The good news is that there are many bookmakers that charge no fees for processing the payments. Other bookmakers will charge a minimal fee per transaction, while others may charge up to 1% of the total check amount. As ever, it is always worth confirming the small print with your chosen bookmaker to see how using eCheck may impact you.

How to use eCheck at an online bookmaker

Now you know what an eCheck is and how it might fit in with your betting payment profile, we should investigate how to fully utilize them at a bookmaker. It is a really straightforward process that will only take a couple of minutes. Once you have been through the process once you will realize what a breeze it is. The only requirements you need to ensure have been covered before trying to deposit funds are that you a) have a verified bookmaker account and b) that you have a bank account under your name with sufficient funds in it.

Once you have got that sorted you just need to follow these simple steps to make a deposit:

1. Create an account at your preferred eCheck Canadian bookmaker (if you haven’t already).
2. Locate the payments section and select deposit.
3. Select “eCheck” as an option from the approved list of payment methods.
4. Fill in your bank account details, including the bank name and account number.
5. Select how much you want to deposit with your eCheck.
6. Confirm you are happy to issue the funds from your bank account.
7. Wait while the bank issues the eCheck to your bookmaker of choice.
8. The funds should be available in your bookmaker account almost immediately.

Withdrawing funds using eCheck is also extremely simple. The only difference between withdrawals compared to deposits is the time taken to reach the other account.

Just follow these steps to make a withdrawal:

1. Visit your preferred Canadian online bookmaker and log in.
2. Find the ‘Make a withdrawal’ button and select eCheck as your preferred method of withdrawal.
3. Follow the on-screen prompts, select how much you want to withdraw and allow the bookmaker to process the transaction.
4. Wait for the money to reach your checking account. This will vary depending on the online bookmaker but should be within a few business days.

Security and safety with eCheck

Whenever you are looking to bet online, security is of paramount importance. Ensuring you’re your financial and personal data remain secure is vital. Thankfully eCheck boasts high-security features and sophisticated encryption technology to keep your valuable assets secure. Paper cheques were always fairly vulnerable to fraudulent behaviour. Still, the invention of digital signatures and public-key cryptography give the eCheck much more security than their non-digital counterparts.

Safety-conscious bettors will also be relieved to know that the sports betting operator will never have access to your banking information as it is all stored on the digital eCheck. Signing up for an eCheck is also a secure procedure, as digital signatures make it extremely difficult to forge. You can rest assured that depositing and withdrawing with eChecks is super safe.

Pros and Cons of using eCheck

It is always worth being aware of both the good and bad factors of a payment option before deciding whether it is the right selection for you. So, let’s take a look at some of the pros and cons of using eCheck for Canadian customers.

Pros

• An extremely safe online payment
• The quickest method of deposit
• It is available in the majority of bookmakers
• It has very high deposit limits

Cons

• There may be some minimal fees involved
• Withdrawals can take considerably longer than other methods 

Conclusion

The eCheck is a great alternative to making deposits and withdrawals at online bookmakers for Canadian bettors. What makes an eCheck so alluring is that the process is so familiar to many users as it is essentially a digital version of a traditional cheque. They are easy to use, extremely safe, widely available to use with online bookmakers, and payments are processed efficiently. If you are looking for a new payment method for your online bookmaker, it is seriously worth considering eChecks.

FAQ - Frequently asked questions