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Cheque Payment Betting Sites

Cheque payments are perhaps the most inconvenient method by which to run an online account of any sort, but there are still a considerable number of people who resist changes to other forms of payment and still prefer to pay and receive cash via cheque.

Although it is now becoming increasingly obsolete as a payment form, especially on the Internet, there are a number of bookmakers still willing to accept and administer payments via cheques. Our team has researched which bookmakers do this and they are outlined in the table below.

List Of Bookmakers Accepting Cheque Payments

Cheque Payments 101 – How It Works

How do I fund my account paying by Cheque?

If you would like to fund your betting account via cheque then you do need to be prepared to do a bit of waiting as both depositing and withdrawing cash in this manner is certainly the most long-winded of payment methods you can use online today.

To find your account via a cheque you need to visit the Payments section of the site you are using to bet with and then look through the different payment options to locate the section dealing with cheque payments.

In the information for this, you will find some key information about how you need to complete the cheque, namely:

• The name that the cheque should be addressed to
• The address that the cheque needs to be sent to

Once you have this information, note the payee name down on the cheque and add the address you need to send the cheque to onto the envelope you are sending it in. It is usually a good idea to add your betting site account number to the reverse of the cheque.

If you are not using a personal cheque to pay, then your bookmaker may clear the funds upon receipt of the cheque, however personal cheques are usually only cleared when funds are released from your bank, which can take up to 28 banking days.

It is a good idea to check your bank balance regularly to check that your cheque payment has been made and to then check your sports betting account to ensure that the deposit into the account has been processed. Any problems with this, it is a good idea to contact your bookie or your bank for further information depending on where you believe the issue may lie.

When transferring funds via cheque, the name of the bank account holder must be the same as the account holder with the betting company in question.

How to withdraw using a Cheque?

If you have deposited into your account via a cheque, then you can receive your cash via a bank transfer or via a return cheque when you wish to make a withdrawal.

Assuming you wish to receive a cheque and have ascertained that the funds available are free to be withdrawn back to you, then most betting companies will ask that the account holder contact their support department to facilitate the sending of a cheque.

As stated previously, most companies prefer users to use another form of receiving withdrawals, such as bank transfer, however if you still want to receive a cheque you will need to provide the company with some additional details over the phone.

Once they have this, they will then issue a cheque which will be sent out to you in the regular mail. This may take a few days to reach you and then when you present the cheque to the bank, it can take between 5 and 28 days for the cheque to be processed and the funds to be available in your account.

One important thing to note with cheque withdrawals is that due to the labour-intensive nature of issuing cheques, most betting sites will not issue cheques below a stated amount (usually this is around £100 but it does depend on the site what their limit is).

Are there any fees associated with using Cheques for betting?

Surprisingly, given how much time it takes to organise cheque payments, none of the Cheque accepted betting sites we reviewed levy any charges for receiving payments via cheque, or by issuing withdrawals via the same method.

Alternatives to Cheque payments

One easy alternative to cheque payments which is somewhat quicker (and certainly more favourable in terms of the process time) is a bank transfer. Many betting sites offer this facility to transfer cash to and from your bank account using your bank details.

You only provide the company with very similar account details that you would via a cheque and the bank transfer is usually a much quicker way for you to deposit cash and receive money via withdrawals.

Similar to bank transfers are e-wallet services like PayPal and Neteller. These offer an intermediary between your bank account and the betting site allowing you to send and receive payments without having to pass on your bank details each time. If you are security minded and would prefer a faster method of banking than cheque, then e-wallet services are generally excellent choices.

Pros and Cons

Pros

• Most people are very familiar with how to use a cheque
• It stops ‘impulsive’ gamblers adding more money to their account and thus avoids them spending more than they could afford in any given transaction
• Easy to keep track of payments via cheque using your cheque stub and bank balance

Cons

• It can take up to 28 days for a payment to be credited to your account, during which you will not be able to make any bets unless you have pre-existing funds in your account.
• Withdrawals also take up to 28 days to process, longer when you factor in the time it will take for a cheque to be delivered through the post. This means if you need the cash in your account quickly, it isn’t the ideal way to use your betting account.
• It is very labour intensive to run an account via cheque for you and the betting site than it is using almost all of the other payment methods.