pokerstars echeck deposit question

hello all,

i'm thinking of playing on Pokerstars and have a question about
depositing.

just wanted to know if anyone has tried Pokerstar's echeck deposit option?
is it similiar to Partypoker's Electronic Transfer?

from the description, it seems i don't have to have my account verified,
(like with Neteller and PP's EFT...they deposit a few cents into your bank
account after a few days, and then you confirm how much they deposited)

instead from the description, i just plug in my bank info and i guess Pokerstars makes a deposit into the Pokerstar's account instantly.

is this basically how they do it? or is there anything else i need to do?

btw,why wouldn't they need to verify my bank account like Partypoker?
are they simply doing it in good faith that they will get the funds from my account in 10 days?
i understand, that i wouldn't be able to withdraw during that period,
but it still seems very trusting on their part to have the funds available
instantly.

any info is appreciated...thanks in advance

I did it a couple months ago and there is no wait for them to verify your account. The money was put into my pstars account instantly. Don't know about the partypoker thing, I'm American. I have no idea why they do it though. It is very easy.

I work for a company that processes transactions, including e-checks.

Any US bank account can be verified without the small deposit confirmation. That just saves the accepting company a few cents on every transaction.

The short of it works like this - when you enter your checking acct, routing # and social, an account check is run. If your account comes back ok with funds available, your transaction is accepted - if it comes back negative, it's denied - just like at an ATM machine if you try to withdraw more $$ than is available in your account.

I tried it just the other day and it worked fine. It basically said it goes automatically and works as long as you do not have a bad record with using it before. So as long as you always have the funds in your bank when they try to get them, you can continue to use it whenever you want.

my friend asked me to transfer them $20 the other day and said that he was no longer able to deposit money or something through his credit card or debit card. anyone have any insight into that?

thanks guys for the responses, think i'll give it a try.

Quote:

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Originally Posted by will641

my friend asked me to transfer them $20 the other day and said that he was no longer able to deposit money or something through his credit card or debit card. anyone have any insight into that?

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Some credit cards and debit cards are blocked. That was kinda the whole goal of the US poker legislation but it just didn't work very well.

Quote:

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Originally Posted by Massimo

Quote:

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Originally Posted by will641

my friend asked me to transfer them $20 the other day and said that he was no longer able to deposit money or something through his credit card or debit card. anyone have any insight into that?

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Some credit cards and debit cards are blocked. That was kinda the whole goal of the US poker legislation but it just didn't work very well.

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Ya it depends on the CC company. I've tried all of mine and none of them work. But my buddy has a card from another bank and he can do it with no problem. I actually had one of the card companies call me when I tried to use it and they said they had that company (that tried to use my card) listed as an internet gambling website and I can't use my card there. Hopefully PS going to echecks is a good sign of better days to come for online poker.

I love how this works. I don't trust it enough to give them info from my savings account, but by putting a few bucks into my checking, it seems to work pretty well.

:D

I tried doing this yesterday. After entering in the account number and routing number it took me to the page where you verify against government issue id, I believe. Well I selected driver's license and in the ID box I put in the number on my driver's license, but it didn't work. It said it wasn't verified. Is that what the ID box is looking for or no?