Types of Cheque

  • cash cheque (is not used by gambling) This cheque is paid cash and only to its beneficiary.
  • accounting chequeThis cheque is not paid cash. Money are transfered to the bank account. You can find this type of cheque at all online bookmakers.

Cheque is a security, which serves as a payment order. The owner of the cheque accredits another person (bank) to pay a given amount for the benefit of a third person (reminent).

Cheque has to contain these Essentials:

  • indication with the word „cheque“
  • date and place of drawing a cheque
  • name of the bank, which realizes the payment
  • requested amount by words or number
  • payment order for paying of required amount
  • place of payment
  • signature of the persomń, who has drawn the cheque

Process of paying by the Cheque

The bank is stated as a drawee, that is way it is possible to pay it fully only in the bank. If the owner draw an accounting cheque to the beneficiary, first he has to ask the bank. Then the bank pre-assigns the amount to the beneficiary´s account (because of the cheque cheating) and sends the cheque to his bank. Bank of the owner takes the amount from his account and assigns it to beneficiary´s bank. It will assign the amount to beneficiary´s bank.

Process of deposits and withdrawals by cheque at gambling

Almost all of the online gambling providers accept only acounting cheques.The disadvantage of using acounting cheques is, that the transactions take different times (several days, or weeks, it is depending on the bank).

Maturity and the Term of presentment for Cheques

Terms of presentment for cheques:

  • 8 days ( subjected in domestic country)
  • 20 days ( subjected in Europe)
  • 70 days ( subjected outside the Europe)

Tha day after the cheque has been drawn, the term of presentment for cheque is starting and it is finishing by the last day of maturity. After the time of the cheque is up, it is possible to cash the cheque only with the agreement of the bank. The bank is not required to accept.

Cheque Fees

Banks charge a fixed amount and percentage of a given amount. Almost every bank has different pricelist and therefore we recommend to find out about this information. If you would like to cash the cheque in USD, you will have to pay a fee of 8 EUR to 34 EUR.

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