Check is a financial document filled by the special form and comprising an order from the owner of an account in a credit institution for payment of amount stated on it to the bearer. At the first sight check is the simplest way to withdraw the wins. However, if you take a closer look at it, you can understand that simplicity of this method is compensated by its slowness more than enough. Perhaps, check is the slowest method to withdraw the funds. However, any customer of online casinos can face it earlier or later, because the owners often use this payment method.
Check can be inconvenient for residents of some countries, because it is often signed by the banks which departments can’t be found in every town. That’s why the recipient has to use services of local banks, which plays part of intermediator, to get money. To give the money to the recipient, the bank has to make collection which takes a long time. Usually it can take up to two weeks in such cases. In the worst situation the recipient can wait for his funds up to three months.
Collection is an operation made by the bank requested by the customer for receiving money funds belonging to him by accounting or goods-money documents. The citizens of big cities can feel better about this. Many banks offer collection now. However, those who live in small towns with small number of available banks would have to pay commission for every cashed out check. Before you go to the bank you better check if they accept private checks from foreign banks for collection. Commission taken by the bank for the service depends on an amount. Usually it can vary from 1% to 5% of an amount of the withdrawal.
You can fill collection application in the bank and sign the documents provided by the bank employees. Moreover, sometimes it happens (most of all in small towns) that the manager faces such a procedure first time and the customer has to wait till he checks out all the nuances. As soon as all documents are ready, the visitor gets a receipt, which states that his check was accepted for collection. It also shows an average date of payment. In general, this procedure can take from two to three weeks in big cities and from one to three months in small towns. When money transfer is done, the customer gets notification by post.
There are few nuances you need to know about bank checks. Only a check with no mechanical damages can be cashed out. Otherwise, you can try to give it for collection, but fair bank managers should warn you that it could hardly be paid out in the bank which has issued it, while commission is non-refundable. To avoid risks, you better write to the assistants of support service of an online casino about the damaged check. The managers of online casino can send you new one and declare invalid the old one.
The validity period of check usually varies from a half of year to a year. You better check it in advance not to miss a chance to cash out your win.
The check itself is usually sent to the post address of the recipient. It usually takes from one to three weeks from shipment date.
In spite of conspicuous simplicity, bank check is not the most convenient way to withdraw your win. However, if an online casino decided to pay your win by this method, you just need to have some patience and wait for money transfer.