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A number of online casinos offer paper checks as an option for withdrawals. The reason for this is practical: Paper checks are still one of the most common ways of paying someone money they are owed in the world. With that having been said, they are falling in popularity, especially in the online casino world where electronic means of paying dominate. While it might not seem like there’s much to know about getting paid with paper checks, there are a number of ways that it can go wrong, and we want to fill you in so that you don’t run into any hang-ups when funding your casino account with cash checks.
The Reason for Paper Checks
First you have to understand the reason for issuing paper checks. They’re rarely accepted as a deposit method because of the processing costs in having them mailed in, entered manually, etc. An electronic check can be issued easily, in less time and with a quicker turnaround time for players. So why have paper checks stuck around for withdrawals for so long?
There are two reasons. First is that it’s possible to deposit with one method, have that method shut down and then still need to be able to cash out. This has happened with credit cards, electronic wallets and other payment methods. The second is that you can run into situations where someone doesn’t have a bank account, and they can still get the check cashed through other means, and this allows them to get their funds. It’s not the most high-tech payment method, but it’s reliable and gets the job done.
Cashing Paper Checks
Most people in most situations won’t run into problems with just depositing their paper check into their bank account like anything else. If you don’t have a bank account, or if you live in an area where online gambling isn’t regulated (like the US), then things can get a little tricky.
In these situations, you really have to do the best you can. Check cashing places are a good option if you don’t mind paying the check cashing fees, and outside of that, you really don’t have any other choice than to hope for the best. Most people, even in areas like the US, don’t really run into problems, but it’s something worth knowing about ahead of time.
Paper Check Fees
The fees for being issued a paper check vary throughout the gaming industry. Some places will charge a small processing fee in the range of $5, and others will charge a percentage rate as high as 2 or 3 percent on the amount of your check with a minimum in the range of $5. Unfortunately, they know that if you are requesting a paper check, you probably don’t have other payment options, so they can charge larger fees than other methods without you having any recourse.
Check Cashing FAQs
What is Electronic Check Cashing?
In the modern, digital age, it’s rare for checks to be issued but they can still appear in certain cases. A check is an official document from a bearer’s bank and the issuer fills in details of the payee and the amount that they wish to deposit.
Traditionally, the payee takes that check to their bank who would process the transaction. It’s like a bank transfer only slower. Think in terms of days rather than seconds.
With electronic check cashing, the practise is carried out instantly. You still have that piece of paper in your hand but it can be cashed instantly and transferred to your bank or the funds can be used at retailers – including online casinos. Usually, the practise is carried out by a third party such as Telecheck.
What’s an in-house Check Cashing Line?
An in-house cash checking line is a service that does away with the need for a third party, so a company such as Telecheck won’t step in and handle the transaction. Instead, the cashing is done in house by the retailer with a view to the consumer going on to use their services.
Some online casinos will provide this service so you will present a check and they will carry out the electronic cashing process. To see if this is available, your operator should show that they provide this service but if things aren’t clear, we recommend that you fire over a query to customer services.
What’s a Credit Line?
Casino credit lines mostly appear in the physical realms but they can apply to online casinos too. As the name suggests, some casinos will allow for credit in return for chips and that may even give the player between 30 and 90 days to pay.
Credit lines are also there to cash checks: This is generally the case at a physical casino and in all probability, they will only deal with regular customers, sometimes of long standing, and they will scrutinise credit records before allowing them to cash out or have credit for the tables.
How can you Cash a Check?
The process for cashing a check at an online casino is the same as you will find for any online retailer. Firstly, you need to take a photo of the front and back of the check and because it needs to be completely clear, we suggest using a scanner if possible. Failing that, your iPhone or Android photo must be clear.
The quickest way to address the next process is to download those photos to the casino’s mobile app. If they don’t have an app, you will need to email the images over to customer services. You will need to allow up to three days for the operator to carry out background checks and providing everything is in order, add the funds to your account.
Can I cash a Check for free at an Online Casino?
The answer is almost certainly ‘no’. The online casino may not charge you to use a cashed check but the third party processor will apply some fees.
Those third party processors have to make money or they simply wouldn’t exist so we shouldn’t be surprised to see fees applied.
If there is in house cashing available, it’s possible that this may be free or the fees will be lower. To understand exactly what charges will apply, find the payments page of your operator or just get in touch with customer services.
Overview
The bottom line is that you should avoid paper checks in most cases if you can help it. Almost every online casino site that offers paper checks also offer a bank transfer option, and that is just as easy of an option to use as long as you have a bank account that you can use to have the funds transferred to the casino.