Bank drafts are one of the oldest methods to make payments to casinos. It is a very reliable and easy program which does not require any physical movement of your cash. The personal check has to be signed by the remitter. This personal check has to go to clearing system of bank to make sure that the remitter has desired funds in his bank account. After this the receiver can get the funds.
To abolish this long going procedure a bank draft is made by the remitter by making sure that the funds are available in remitter's bank account. This helps in cutting short the procedure.
Personal checks and bank drafts have a single disadvantage and one advantage on electronic ways to transfer the money. Both personal checks and bank drafts require a lot of time to transfer the money. Personal check requires almost 21 days for transferring fund and bank drafts require 10 days to transfer funds. The long duration is because of the holidays taken by the banks during which they do not work.
The time is also consumed in posting, processing and reaching the receiver. The online gambling sites do not permit the players to make use of these funds until the payment is clear. In case of personal check the player has to wait for a month to use the fund. The bank drafts require the period of around two three weeks.
The online casino sites recommend players to withdraw the funds by personal checks which are written by casinos. It has a very big disadvantage that it makes the player wait for at least a month to receive the payment. the casino also leave a fee on every check to cover the cost of processing. Therefore, personal checks are very expensive and require a lot of time.
The big advantage of bank drafts and personal check is security. Through these methods the information of the gamblers cannot be leaked in front of the casinos. This provides them complete protection and liability so many gamblers stick to these two forms of payments.
Many casinos do not promote using personal check and bank drafts. However, they do not refuse to accept this method but they offer many alternatives to these methods which can be dangerous and can add risk. Sticking to personal check and bank draft is therefore, the suitable options.