eCheck Overview
eCheck, a new payment instrument combining the security, speed and processing
efficiencies of all-electronic transactions with the familiar and well-developed
legal infrastructure and business processes associated with paper checks,
is the first and only electronic payment mechanism chosen by the United
States Treasury to make high-value payments over the public Internet.
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what is the eCheck?
An eCheck is the electronic version or representation of a paper check.
eChecks:
- contain the same information as paper checks contain
- are based on the same rich legal framework as paper checks
- can be linked with unlimited information and exchanged directly between
parties
- can be used in any and all remote transactions where paper checks
are used today
- enhance the functions and features provided by bank checking accounts
- expand on the usefulness of paper checks by providing value-added
information
How do echecks work?
eChecks work the same way a check does.
- the check writer "writes" the eCheck using one of many
types of electronic devices and "gives" the eCheck to the
payee electronically.
- the payee "deposits" the Electronic Check, receives credit,
and the payee's bank "clears" the eCheck to the paying bank.
- the paying bank validates the eCheck and then "charges"
the check writer's account for the check.
How to use eCheck at Online casinos.
- Open the Gaming Software
- Log into your account
- Once connected click on the Bank button
- Click on the Deposit Tab
- Choose Electronic check (eCheck) as your deposit option.
- Register and confirm your Electronic Check (banking) details (first
deposit only)
- Complete your transaction by submitting your bank account number and
deposit amount.
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