A bank check is a financial document filed in the special form and comprising an order from the owner of an account in a credit institution for payment of the amount stated on it to the bearer. Checks are not very popular in the online gambling industry, but some internet casinos do accept them.
At the first sight, a bank check is the simplest way to withdraw your wins from a casino. However, if you take a closer look at it, you can understand that simplicity of this method is compensated by its slowness more than enough.
Perhaps, a check is the slowest method to withdraw the funds.
However, any customer of online casinos can face it earlier or later, because the owners of some gambling websites this payment method.
Checks can be inconvenient for residents of some countries because it is often signed by the banks and departments can’t be found in every town. That’s why the recipient has to use the services of local banks, which play the part of intermediator, to get money.
To give the money to the recipient, the bank has to make a collection that takes a long time. Usually, it can take up to two weeks in such cases. In the worst situation, the recipient can wait for his funds for up to three months.
The collection is an operation made by the bank requested by the customer for receiving money funds belonging to him by accounting or goods-money documents. The citizens of big cities can feel better about this. Many banks offer collection now.
Those who live in small towns with a small number of available banks would have to pay a commission for every cashed-out check. Before you go to the bank you better check if they accept private checks from foreign banks for collection. Commission taken by the bank for the service depends on an amount. Usually, it can vary from 1% to 5% of the amount of the withdrawal.
You can fill collection application in the bank and sign the documents provided by the bank employees. Moreover, sometimes it happens (most of all in small towns) that the manager faces such a procedure the first time and the customer has to wait till he checks out all the nuances. As soon as all documents are ready, the visitor gets a receipt, which states that his check was accepted for collection. It also shows an average date of payment.
In general, this procedure can take from two to three weeks in big cities and from one to three months in small towns.
When a money transfer is done, the customer gets a notification by post.
There are a few nuances you need to know about bank checks. Only a check with no mechanical damages can be cashed out. Otherwise, you can try to give it for collection, but fair bank managers should warn you that it could hardly be paid out in the bank which has issued it, while the commission is non-refundable.
To avoid risks, you better write to the assistants of support service of an online casino about the damaged check. The managers of online casinos can send you a new one and declare invalid the old one.
The validity period of the check usually varies from half a year to a year. You should better check it in advance so as not to miss a chance to cash out your winnings.
The check itself is usually sent to the postal address of the recipient. It usually takes from one to three weeks from the shipment date.
In spite of conspicuous simplicity, a bank check is not the most convenient way to withdraw your winnings. However, if an online casino decided to pay your win by this method, you just need to have some patience and wait for the money transfer.
No, they are not. Some gambling websites do accept them, but in general, this method of depositing and withdrawing money is not popular.
If the bank is reliable, its checks are trustworthy.
Some online casinos offer this option, but it is really inconvenient.