E-Checks were initiated by Authorize.net and are one of the most popular payment methods on the internet. Apart from the sportsbook deposits, E-Checks can also be used to purchase goods and services from the internet. The system works the same way as issuing a paper check, the only difference is that here the checks are electronic in nature and could be sent over the phone or internet. The same laws apply to electronic checks as to paper checks. However, there is better security with the electronic checks since they include some features such as digital signatures, authentication and information encryption. All of these features ensure that the user’s information is not shared with any third party vendors.
Echeck Accepted Online Sportsbooks
All the electronic checks are processed through ACH – Automated Clearing House. This is similar to the conventional bank processing, however here, ACH ensures faster fund transfers. Because of this, users prefer making deposits with E-Checks since the funds are available for wagering instantly. Furthermore, the winnings could also be transferred to the E-Check account instantly. All the payments with E-Checks are safe and guaranteed.
In order to get started with E-Check, players are required to set up an account. The registration process is simple and takes only a few minutes. The users need to provide their personal information such as the address, date of birth and contact information along with any government issued photo identity. The users can view the status of the account at each stage of the registration. At present, the only deposit options available to the users include the bank transfers and cash deposits. There are only a few companies on the internet that allow the funding of the E-Check account with credit cards. The registration process does not require the users to enter any of their credit card information.
E-Check Sports Betting Benefits
The biggest advantage to using E-Checks is that the system is pretty similar to the banking system and hence all the users are already familiar with the process. The E-Check process is strictly regulated and the players cannot withdraw cash through the E-Check system. In case there is any dispute, the players can easily check their deposits or purchases made on the internet within their bank account details. As far as limitations are concerned, the transactions can be processed in only one currency – US dollars.