Pokerstars echecks

[efiusa]

Pokerstars says US customers can deposit using eChecks. Anyone know how these circumvent the legislation?

What are eChecks?
An eCheck is an electronic check which allows you to make safe, secure and immediate electronic fund transfers (EFT) directly from your bank account to your PokerStars account. eChecks are only available to U.S. and Canadian players.

eChecks work the same way paper checks do. When you deposit using an eCheck, the amount of your deposit is requested from your bank just like when a paper check you've written is deposited. Once the check clears, the funds are transferred from your bank account to PokerStars.

You do not have to wait for an eCheck to clear to receive your funds at PokerStars. Funds deposited via eCheck are immediately available in your PokerStars account.


How secure is eChecks?
eChecks is a highly secure and widely used method of electronic funds transfer. eChecks is compliant with strict processing rules defined and regulated by North American Clearing House System (NACHA) and CPA (Canadian Payments Association). The security measures include ID verification, 128-bit SSL encrypted communications and industry standard data encryption of your personal information.


How can I make purchases at PokerStars using eChecks?
The eCheck deposit option is fully integrated into the PokerStars Cashier screen. To make a deposit using an eCheck, login to your PokerStars account and visit the Cashier. Choose the 'Buy Chips' option and select the 'Instant eChecks' button. You can then follow the instructions shown to complete your deposit. Canadian players will enter the amount of deposit in CAN$, which will be automatically converted to US$ equivalent using the current exchange rate. You will need to have a personal check with you to complete the deposit as you'll need to type in the numbers along the bottom of your check.

Once you've filled in the information requested, click the 'Submit' button to process your deposit. By clicking on 'Submit', you agree to the Terms and Conditions for using eChecks. Your eCheck is then deposited via our processor Pstar Payments. Your deposit will be identified on your bank statement as "Pstarpayments.com" once your eCheck has cleared.

We recommend that players print all transaction data, rules, etc. for future reference.


What are the deposit limits for eChecks?
There are two sets of deposit limits associated with eChecks. The first set of deposit limits are imposed by PokerStars. These are the deposit limits shown in the Cashier at the bottom of the screen when you click on 'Buy Chips' and you choose 'eChecks'. If you would like to receive an increase in your PokerStars deposit limits, please email us at support@pokerstars.com.

[Nichomacheo]

Did they just introduce this?

It seems like a pretty easy way for new players to deposit money. What are the downsides?

[DrewOnTilt]

[ QUOTE ]
Did they just introduce this?

It seems like a pretty easy way for new players to deposit money. What are the downsides?

[/ QUOTE ]

I'm not sure if they just introduced it - someone clue me in? Full Tilt has it too. I just noticed it on both sites, because honestly as long as a site accepted NeTeller I didn't really pay much attention to the other payment and cashout options.

[Leader]

[ QUOTE ]
[ QUOTE ]
Did they just introduce this?

It seems like a pretty easy way for new players to deposit money. What are the downsides?

[/ QUOTE ]

I'm not sure if they just introduced it - someone clue me in? Full Tilt has it too. I just noticed it on both sites, because honestly as long as a site accepted NeTeller I didn't really pay much attention to the other payment and cashout options.

[/ QUOTE ]

Stars has had it for months. FT has also had if for a while.

[ajmargarine]

Alot of businesses do this. If you give your cable/phone/whatever company your checking info, and they take the money directly from your checking account each month to pay the bill, that's basically the same as what echecks are.

[DrewOnTilt]

[ QUOTE ]
Alot of businesses do this. If you give your cable/phone/whatever company your checking info, and they take the money directly from your checking account each month to pay the bill, that's basically the same as what echecks are.

[/ QUOTE ]

From the description it seems as if it is precisely this type of transaction that will be banned once the UIGEA takes effect, correct?

[cat923]

Get realistic. The sky has fallen. The game as we knew it is up. It was a great ride, but it has come to an end.

I withdrew 90% of my money when Party gave up the ghost.

Last night I withdrew everything from Neteller into Stars and Full Tilt. I left $0.65 as a tip.

I am taking a vacation from serious poker until the dust settles. I have enough cash in those sites to get rid of the Jones if it occurs.

I would not be happy to lose $1500, but it would not be the end of the world.

Some genius will figure a way to work all of this out.

As for me I AM ON VACATION.

Good luck and good cards to all.

[Oberonn]

eCheck appears to be a method Stars set up as their own processing company (Pstar Payments) similar to IGM Pay once used by Party. It looks simple, fast, and free.

[Mhoram]

http://www.fulltiltpoker.com/payInstantEChecks.php


Here's the echeck info from fulltilt.

Doesn't this seem too good to be true? Why were we using neteller at all?

Is this indeed the type of thing that will be outlawed when the law goes into effect?

For those paranoid and wishing to withdraw everything, should they go ahead and use this now?

[ajmargarine]

[ QUOTE ]
[ QUOTE ]
Alot of businesses do this. If you give your cable/phone/whatever company your checking info, and they take the money directly from your checking account each month to pay the bill, that's basically the same as what echecks are.

[/ QUOTE ]

From the description it seems as if it is precisely this type of transaction that will be banned once the UIGEA takes effect, correct?

[/ QUOTE ]

Pure speculation on my part, but echecks are basically a quick paperless paper check. As long as paper checks continue to be OK to use, echecks, you'd think, would be ok to use as well.