You can deposit at online bingo sites using an E-Check or a regular cheque. E-Checks work in the same manner as regular cheques. They are legally binding as a promise to pay the amount stated on the cheque. The systems used to process E-Checks use digitally signed documents to authenticate the two parties into a transaction. Once you make a deposit using an E-Check, your bank account will be debited this amount in 2-3 business days. Should you not have the funds to cover the transactions, a fee is usually applied by the bank and your player account will be locked until such time that the outstanding amount is paid back.
There are many benefits to using E-Checks. They allow you to manage your deposits online through online banking. Many players maintain separate bank accounts for the dole purpose of depositing through E-Checks. It allows them to manage their online bingo & gaming deposits without the risk of other cheques bouncing for regular household payments. E-Checks allow for instant deposits in some cases depending on the bingo website at which you are depositing. The advantage is also realized by the bingo site, as they receive those deposits within a few days and in some instances, they are received instantly.
If players prefer to use a standard cheque, they will find the process to take longer than if they used an E-Check. This is due to bingo sites, and the processing companies that process their transactions, wait until they receive the funds from the player’s financial institution prior to crediting the player’s bingo account. This is a disadvantage to players who need immediate access to their funds. However for some, it is an excellent way to effectively manage what they spend online playing bingo. They are able to set aside a predetermined amount they wish to deposit and know those funds will be available on a certain date. Whilst this is not the most popular option, it still is used by many players who prefer this payment option to E-Wallets or E-Checks. As with E-Checks, you are able to make multiple deposits and access funds immediately. This can lead to some players depositing based on emotional needs and not based on their financial ability to honour those deposits.
When wishing to make a deposit using an E-Check at an online bingo site, you will need to register a real money player account prior to doing so. Once this is completed, you can visit the banking section and deposit using an E-Check. This will require you to provide personal banking information. Once your account is registered, you will be able to make deposit. Some sites will require you to wait until your first transaction has cleared before accessing your deposit. On future deposits, your funds will be immediately available for play. With paper Cheques, the process is the same with the exception of the instant crediting. All cheques/direct bank transfers must clear your bank prior to having access to those funds.
Another advantage to using either of these deposit methods is the ability to withdrawal in the same manner. When making a withdrawal you simply select a direct bank transfer or request a check by mailed to your home address. This also prevents overspending, as you will have to wait to receive your funds. Using an E-Wallet often means you can make a few extra deposits before sending your balance to your bank and therefore not effectively managing your funds responsibly.
The above deposit options should be used for the convenience they offer in money management. Managing your online gaming budget can mean increased playtime and enjoyment while playing.