Across online casinos, you will find all kinds of modern and innovative payment methods to use for your deposits and withdrawals, but you’ll also find classic solutions like the cashier’s check. Being around for ages, this standard banking solution is still used by many people across the globe, online casino players included. And while its popularity is not what it was when gambling first went online, the solution is still very much appreciated and used by players, in the lack of other options. That's mainly due to its global availability and ease of use, as it supports all currencies, and users from all across the world can transact with it. What is a cashier's check and why decide to use it for your online casino transactions?
About Cashier’s Check
Checks have been around for ages; they date back to the 17th century when the first mentions of these pieces of paper appeared in England, the UK. If you do your own research to see exactly when the first check was introduced, it won’t be with much success, since different dates are thrown around, but we did a little digging and we could locate its roots in the UK. The country led the way but many other countries followed, and that’s how the first international check network was created, sometime in 1969.
Being a great alternative to cash, checks were incredibly popular in the early 1990s, with their popularity continuing well through the 19th century and the beginning of the 20th century, too. But, considering there are different types of checks, if a bank holder wants to use one, they'd need to go through different procedures. With standard bank drafts/cheques, the money is drawn from the bank holder's personal account, and these are easier to use since the bank is not put in any danger of losing money. But, with a cashier's check, things are a little bit different.
This type of check is guaranteed by the bank, meaning the money is not drawn from your personal account, but from the bank’s own account, paid by the bank's own funds. The bank employee, after carefully going through your transaction history, is the one who decides whether to sign it. Meaning, that these cashier’s checks are guaranteed funds because the bank is both the drawer and the drawee responsible for paying the amount. With bank drafts/cheques, you are the drawer and the bank is the drawee.
Having read what you have, it should not be weird to you that these cashier’s checks are usually used for brokerage and real estate transactions. They are not that commonly used across the online gambling industry, but still, many online casinos do offer them as an option for players who don’t want to or don’t have another payment method at their disposal to fund their balances and cash out winnings from them. Therefore, if interested in knowing how it works as you might potentially use it sometimes, stay with us as we’ll take you through the steps next.
Getting Started with It
With bank drafts/cheques, the funds are drawn from your account by the bank, and through another bank, the drawee, delivered to the recipient, the payee. Now, with a cashier's check, you ask the bank employee for it and the bank debits the amount from your account or receives it in cash and assumes the responsibility for covering the check. Meaning, you’d still have to have an active bank account to use it, even though you can pay for the amount that needs to be sent in cash.
The cashier's check looks like this: in the top left corner or the center of the piece of paper, the name of the issuing bank is displayed. Special bond paper, color-changing ink, security thread, and watermarks are included, too, as the security features that vouch for the legitimacy of the check.
The recipient's or the payee's name is printed on the front of the check, as well as the numeric amount to be sent, tracking information, and the payee’s personal and banking details needed. One or two bank employees sign it.
Now, this brings us to a subject we must cover in short. Cashier’s checks used to take weeks to clear, so they were often forged. People involved in fraud schemes would withdraw the money and the banks would have no idea of the transaction. That’s why banks speeded things out and today, these cashier’s checks are cleared within 48 hours. This goes to your advantage since you won't need to wait for ages to use your funds across online casinos.
Sure, this solution won’t be at the top of your list when choosing a depositing method, as today, you have so many eWallets, credit cards, and cryptocurrencies to use for instant deposits, but you might want to consider it for withdrawals, as you can rest assured that your winnings will arrive to your bank account safely and securely, and you won’t mind the waiting period.
On that note, let’s see next how the depositing procedure would go with this solution across the casinos that accept it before we go into details about the steps you need to take to cash out your winnings with it.
How to Deposit at Online Casinos with a Cashier’s Check?
We mentioned that cashier's check is not a popular solution among online casinos nowadays, given how many alternative and innovative methods exist today that are much easier to use, but still, it is a solution that is offered across hundreds of online casinos. You can rest assured that you’ll have enough sites to consider before you decide on the one to join, even though most will only accept the solution for withdrawals, not deposits since deposits with it would be much more complicated to make and may take weeks before the funds arrive on your casino balance.
Nevertheless, do your search and select a few candidates, and sites you might consider joining. After you’ve carefully investigated what they have to offer, decide on the site you’d like to join. Create an account with it to become a registered player, and then, to make a deposit with a cashier's check, go through the following procedure.
Go visit your bank in person and request the bank employee to issue a cashier’s check.
Wait for the approval and provide the needed banking details for the casino operator.
Assuming it all goes well, the check should be cleared in a few days, and you should receive the money on your casino balance.
How to Withdraw Winnings with It?
As said, cashier's checks are more popularly used for withdrawals, so this is the procedure we’ll focus more on.
First of all, we must stress out how important it is to provide your exact name and address when registering an account with the casino you chose, since upon withdrawals, the operator will use these details to complete the procedure. Secondly, make sure you’ve selected your native currency as the default currency on your player account, to avoid currency conversion fees.
Now that that’s clear, we should talk about the actual steps you need to make when requesting a withdrawal with the solution:
Go to your online casino’s Banking page and find the Withdrawals section.
Look for the Cashier's Check's logo and press it.
In the pop-up, enter the amount you wish to cash out and the needed banking details; the operator will use your personal information to complete the check.
The casino operator will take 24 to 48 hours to review your request and eventually approve it.
As soon as it does, it will send the check and all you’d need to do is wait for it to arrive at your doorstep, delivered by a courier service or mail.
Once you have the check, the funds should be available to be cashed out. You can go to your bank and cash them out in person, showing a valid ID, or you can deposit your check at an ATM.
Fees and Limits
Fees will apply when using this solution. If the transaction is made in foreign currencies or an international check has been issued, your bank will charge extra fees to process the money.
Most banks won’t charge fees when you’re cashing out a check, especially if you already have an account with them, but some might. Therefore, if you wish to use this solution across online casinos, make sure you discover more details about the fees involved, to see whether they would be affordable to you.
Allowed Countries
This solution is global, offered in any country across the globe, but particularly popular in the US. Therefore, regardless of your country of residence, you should be able to use it.
The only obstacle that might come your way is the fact that some banks do not process online gambling transactions overall, not to mention checks for online gambling. So, before you decide to use the solution, make sure you discover more about the stance of banks regarding online casino transactions and your country’s restrictions when it comes to online gambling, as well.
Accepted Currencies
By default, since this is a solution offered all across the world, you can use your native currency when using it across online casinos.
These checks are processed by banks, and since you probably have your bank account in your native currency, whichever that is, you’ll be able to make smooth and conversion fee-free transactions across online casinos with it.
Cashier's Check Casinos
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What are some of the disadvantages of using a cashier's check for deposits and withdrawals across online casinos?
The biggest disadvantage with these checks is that they must be transferred between banks physically, and that takes a lot of effort and time, time that neither operators nor players want to make in their busy schedules when there are so many faster and easier-to-use solutions nowadays.
Is there a danger of losing my money when requesting a withdrawal with this solution?
No, not really. The operator can issue a Stop Payment request to void the check in case you have suspicions of fraud, and then send you another one, but you won't ever be at a loss.
How do I cash out a cashier’s check I received from the casino at an ATM?
Easy; you’d need to have your check with you and then endorse it before inserting it into the ATM machine, using your debit card to identify your bank account.
Is it smart to use a cashier's check for deposits?
Checks are not usually used for deposits, due to the waiting times and the complex procedure you need to experience to make the deposit. So, we recommend you consider it for withdrawals and use a faster and easier-to-use solution for deposits.
Do many online casinos offer the solution for deposits?
No, not really. As a matter of fact, out of the hundreds of online casinos that offer checks, only two dozen are offering it for deposits; the rest are all offering it for withdrawals exclusively.
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