The faced-paced nature of today’s internet world has vastly changed the way we do things. We work, shop, communicate and obtain information much differently than we did just a couple of decades ago. But despite the internet evolution we’ve gone through, some things stick with us. Cashier’s checks are one of those things. Now considered an outmoded way of paying for things, cashier’s checks are still used by many online casino players. There’s a reason cashier’s checks have stuck around for so long; they are about as close to real cash as you can get. And who doesn’t like cash?
Many online casino players who deal in large amounts of money like to use cashier’s checks because of the reliability of the guarantee and because fees don’t have much impact on larger amounts.
And there are still a number of online casinos that both accept payments, and make payments in cashier’s checks.
How a cashier’s check works
Cashier’s checks or cheques, are also known as banker’s cheques, official cheques, teller’s cheques or treasurer’s cheques. But they are all the same thing: a piece of paper that guarantees an amount of money. They are called cashier’s checks because they are signed by the official payer’s cashier. They are treated as guaranteed money because the payer – usually a bank – is responsible for paying the amount. And they often have security features such as watermarks, security thread, color-shifting ink, and special bond paper.
Here’s how you use a cashier’s check as an online casino payment:
- First you must be sure that your casino accepts cashier’s checks. It may not be a promoted form of payment at the casino, because it is just not a common payment method these days. In fact, you may want to go through Contact Us at the online casino website, and inquire.
- Then get instructions on where to mail the cheque and what information needs to be on it. Usually you will need to provide no more than your online casino account number and your signature.
- From there, you simply go to your bank, ask for a cashier’s check for the amount you wish to deposit into the casino account, fill in the information on the cheque and mail it to the casino.
Many online casinos that accept cashier’s checks, also allow withdrawals via cashier’s check. You just request a withdrawal through the casino Cashier or Banking section and provide your address if it is not already on their record.
Advantages and disadvantages of cashier’s checks
One of the good things about using a cashier’s check to fund your online casino account is that you don’t have to provide much information. The casino only needs your name and casino account number so they know who to credit. That means you don’t have to provide a credit card or bank account number.
There’s also the advantage of knowing you won’t be overdrawn or over a credit card limit.
The big drawback to using a cashier’s check online, is having to wait. You have to wait for the deposit to be credited and, if you withdraw, you have to wait for the cheque in the post. So you are at the mercy of processing systems and postal systems, which of course vary in speed. The casino will probably let you know how long you can expect before your deposit shows up in your account.
Another thing to remember about withdrawing large amounts of money: casinos don’t like to give up money without verifying, so you’ll probably have to provide some sort of identification verification. And banks don’t like to instantly credit the full amount of a large check from a strange bank, so you’ll be looking at more time before your bank account will be fully credited.
Bank fees are also involved, usually around £10 per cheque. That’s why small transaction amounts aren’t as feasible.
There are so many secure ways of making transactions online these days that a cashier’s check seems almost obsolete in most cases. However, if you are a high roller and willing to wait for the processing to go through, this may be the best way to do your online casino business. Just make sure that you know all of the stipulations of your casino and your bank.