eCheck vs. MoneyGram

Those online casino players who prefer using their bank account to make transactions across casino sites should stop and consider using eCheck and MoneyGram, as these two solutions would provide them with much quicker and more convenient transactions than the regular bank transfer option. These two solutions do depend on bank accounts to function, however, they offer services that speed up the process and make it easier for the end-user, therefore, you as an online casino player. Why use eCheck or MoneyGram across online casinos?

About eCheck and MoneyGram

eCheck and MoneyGram are two solutions, as introduced, where you’ll be using your bank account to make an online casino transaction. However, these are services that will facilitate the entire transfer, as they would do all the hard job for you. You won’t need to actually visit your bank to make the payment, but you’ll only need to go through a few simple steps to request a transaction, and they’ll take care of the rest, making sure the money arrives at the desired destination. These two, although quite the traditional payment methods, are actually available across many online casino sites and have a great reputation across the online gambling industry. If interested in using one of the two, stay with us to learn more about them.

eCheck is an excellent solution to use if you don’t have a credit card or you don’t wish to share credit card details with your online casino. Or, if simply credit cards are not an option for you as an online casino player, since they are halted in your country for online gambling purposes. Whichever the reason, you can use the eCheck solution to still make transactions across online casinos via your bank account. eCheck, as implied by its name, is the electronic version of a regular paper check which was popularly used back in the days, issued and processed by a bank. Checks are available all across the globe, in every single country in the world, and so are these electronic versions of them.

You would need to have an active bank account…

… to use it, since the solution works closely with banks. You need to have money on that account so that the bank can approve and clear the check before you can actually use it for payments. But, other than that, your involvement in the process would be done. From there, eCheck, along with several third-party financial institutions, will make sure your transaction goes smoothly to the desired destination.

So, the only pre-requirement to use it is to have a bank account. Now, the thing with it is, even though quite safe and secure to use, considering it is backed up by the bank's security systems and measures, it takes it 3 to 5 business days to complete the transfer. Since there's a background process involved, involving several third parties, it is not until they all do their part that the transaction is completed. As such, eCheck is more used by players for withdrawals rather than for deposits. Players usually want to make instant deposits, but don’t mind waiting a few days to cash out their winnings. Nevertheless, the solution is still popular across online casinos, especially among those players that don’t have a credit card, won’t use it, or don’t have an account with some other modern payment solution.

In 1940, when the Minneapolis-based money order company Travelers Express was established, so were the foundations of the money transfer service we know as MoneyGram today. The US company then made a merging deal with another financial firm, Integrated Payment Systems Inc to launch a new service, MoneyGram, and this happened in 1998. So, the solution’s history is quite an impressive one, of two decades and counting. During this time, the money transfer service, which was only available in the US, started expanding its reach, allowing users to send money overseas. Since it went global, in 2004 it rebranded to MoneyGram International and became available in virtually every single country across the world.

Seriously, MoneyGram has an office, a branch in basically every larger city in the world, but even in smaller towns and villages. Its network counts hundreds of offices and over 150 million users across 200 countries and territories. Rarely does any other money transfer service have such a strong presence. Add to that the fact that it also went digital, allowing users not only to use it by visiting the nearest branch to their home, but also on their mobile and desktop devices, and you’ll understand why MoneyGram became one of the best P2P digital payment providers in the world.

The way it functions is quite straightforward, actually.

You either visit a branch or its website, and request a transaction, either giving the desk clerk cash or paying using your bank account or card. You just need to specify your banking details, as well as the receiver’s, the way they want to receive and the amount of money you want to send. The solution will take things from there, making sure your transaction is processed as promptly as possible. The processing times would depend on the way the receiver chooses to receive the money, while fees would depend on both the methods involved and the amount of money being sent. After a reference number is received by the receiver, they can cash out their money as specified. As convenient as that. That’s one of the many reasons why online casino players are choosing MoneyGram over any other payment solution.

Getting Started with the Two Solutions

Although we touched upon the way in which these two solutions can be used, it sure would come in handy if you actually knew the exact getting started processes with both of them.

So, to get started with eCheck, as we established, you don’t need to go to your bank, even though the solution works closely with banks. You don’t even have to create an account with it, no registration will be needed, so as long as you have an active bank account with money on it, you can rest assured that you’d only need to choose it from the list of offered methods at the chosen platform, in our case, online casino, and request a transaction with eCheck, specifying how much it needs to be sent. The solution will take it from there.

What will happen next is what we call the background process. You should know that once you request a transaction, your request will be received by one of the third parties involved, such as Authorize.net. This service will go through your request and make it compact, easier for the next third party to process it. The next third party involved will be the Automated Clearing House Network, which clears electronic cheques, and is a network consisting of different financial institutions. This service will further inspect your request and clear the check, guaranteeing to the bank that all the info on it is legit. The vetted file will finally be received by your bank which will give the ultimate approval and make sure the money is sent where it needed to.

The getting started process with MoneyGram was basically explained earlier. The first choice you need to make is whether you’d request a transfer physically, by going to the nearest branch and providing the desk clerk with the cash and the info needed for the transaction, or digitally, by visiting MoneyGram’s official website or downloading its app, and requesting the transfer from your desktop or mobile device, paying for the transfer using your card or bank account. The choice is yours. If you go with the second option, there will be a need for you to register an account, though.

So, you will need to first decide whether you’ll use the website or the app. If you go with the app, you’d need to download it from Apple App Store or Google Play Store. The app is free, and as you can see, can be installed on any iOS or Android mobile device. Once the app is installed, you can proceed with the registration.

The actual registration procedure is simple...

... and the same, regardless of whether you went with the website or the app. You’d need to provide your email address, password and your mobile phone number. Accept the Terms of Use and your account will be ready.

Now, to actually send the transfer, you’ll need to enter your banking details, to whom you wish to send money, and how they would like to receive it. MoneyGram will review your request and calculate the exact amount that needs to be paid, fees included. As mentioned, the fee will depend on the amount of money sent and the methods used. You will receive a reference number as soon as you pay the entire sum, which you’ll need to share with the receiver. That’s about it. As soon as the receiver gets the reference number, they can cash out their money as they requested.

Using eCheck and MoneyGram Across Online Casinos

One thing is for sure: whether you choose to go with eCheck or MoneyGram, you can rest assured that you’ll have plenty of casinos to explore which accept them, to find the one that suits you most. eCheck is available across over 60 casinos, while MoneyGram across more than 35. So, you’ll have nice choices to go through, to decide which one to join. After you’ve joined the casino of your preference, you’ll be ready to make your first deposit.

To make a deposit using an eCheck, you would need to do the following:

1. Head over to the casino’s Banking Methods/Cashier/Payments page.
2. Look for its logo and after you press it, a new window will open.
3. In there, enter your bank account and needed personal details.
4. Specify how much you’d like to have on your casino balance.
5. The third parties involved will do their job clearing out your electronic cheque and in 3 to 5 days, the money will arrive on your online casino account.

Yes, the wait is really a bummer when it comes to deposits with eCheck. But that’s why we stressed that this is a solution players mostly use for withdrawals. So, not only are withdrawals with it an option, but they are also quite popular. The procedure is basically the same, only this time, you'd need to specify how much you'd like to cash out. As soon as the casino reviews and approves your request, the background process will be put in motion again, and in about a week, the money will arrive in your bank account.

To fund your online casino account using MoneyGram, you’d need to go through these steps:

1. Find MoneyGram’s logo on the casino’s Banking Methods/Cashier/Payments page.
2. Click or tap on it, and in the pop-up window, log into your account.
3. Specify how much you’d like to send to your online casino account.
4. If not pre-entered, enter the casino’s banking details (receiver’s info, as explained previously).
5. Wait for the total sum to be calculated, with fees.
6. Pay using your card or bank account.
7. As soon as the casino gets the reference number, the money will arrive in your casino account.

Again, just like the case was with eCheck, MoneyGram is a popular withdrawal solution, among US players in particular. To request a cashout with it, you would need to go through the same procedure, only this time specifying how much you’d like to receive and the way you want to receive it. As soon as the casino sends you the reference number, you’ll be free to cash out your money in the way you requested.

Advantages and Disadvantages

In many aspects, eCheck and MoneyGram are similar payment solutions. They both collaborate closely with banks, and you'd need to have a bank account to use them. With MoneyGram, you have alternatives, cash or cards, but with eCheck, you must have an active bank account. Among other similarities, we can mention that you don’t need to visit your bank to request payments with either of the two solutions. The two are quite convenient, considering the getting started processes with both are extremely easy. You don’t even have to create an account with eCheck, nor MoneyGram if you're using it physically. If using it digitally, you'd need to create a profile with MoneyGram.

The two are quite popular across online casinos, and you have plenty of sites to explore to find one that you’d like to join. They are both accepted for deposits and withdrawals, and they are both available to players from any country across the globe.

However, there are a few disadvantages…

… you should keep in mind. The first one is the downside eCheck comes with, and that is incredibly slow deposits. The second one is the drawback MoneyGram comes with, and that’s the fee included in the transfer. So, weigh in all the pros and cons, compare the two solutions and choose which one would suit your player preferences better. You can rest assured that they’ll both serve you well, especially for online gambling transactions.