"Instant check" a nice funding option
Michael Bluejay, "apprentice" to Wizard of Odds Michael Shackleford, reports in the Wizard's most recent e-mail newsletter that Bodog is now offering "instant check" as a funding option. (And the newsletter is worth reading this time just for the story about Shackleford's $158 haircut).
"Instant check" pulls the money from your bank account like a check. Even better, your money is deposited on the site instantly, even though it hasn't yet been pulled from your account. Bluejay reports that Bodog only offers the option to players who have previously used it, but a few Ante Uppers have reported that PokerStars offers the option, too.
"Instant check" seems to be a way to exploit one loophole in the Unlawful Internet Gambling Enforcement Act, which gave banks some measure of protection when it comes to checks, which are much harder to police. Some banks say they are impossible to police in regards to the ULIGEA.
Let us know what other sites are offering "instant check" and what fees (if any) are associated with the option. Could be a nice development if more sites use it.
- SCOTT
Christopher Cosenza is co-host of the longest running poker podcast on the planet, Ante Up! He started playing poker seriously in 2003 and his favorite players are Phil Ivey and Kenna James, though he tends to act like Phil Hellmuth if you make a bad play against him.
Scott Long, Ante Up!'s other co-host, is the author of the monthly Bet on It column in tbt*. He began gambling way too young (don't tell the fuzz!) and in the seventh grade, named his state "Gambleland" for a school project (State Animal? Loan shark, of course).
This sounds like Paypal's Instant Check feature in which you pay someone with funds from your bank account, but it is backed up with a credit card registered in their profile. In case the funds aren't transferred via the bank it is charged to your credit card instead, so either way the company will get their money no matter what. Plus, it speeds up the process of waiting for funds to transfer normally via a bank.
Posted by: Brett Otte | January 07, 2008 at 03:45 PM
The PStars option works like this:
- You use the instant check.
- It immediately funds your account.
- Later on in the week the check goes through to your Bank.
- Any fees for lack of funds or what not are your responsibility.
So it's just like using your check card at the grocery store. It goes through and processes in a few days.
Posted by: NickG | January 07, 2008 at 05:08 PM
I used my debit card the other day on full tilt(first time playing there) and I had no problems. Instant deposit.
Is it supposed to be this easy?
Posted by: Pulling Guard | January 07, 2008 at 07:38 PM
I used my debit card the other day on full tilt(first time playing there) and I had no problems. Instant deposit.
Is it supposed to be this easy?
Posted by: Pulling Guard | January 07, 2008 at 07:38 PM
Just used the eCheck on Stars, no problem!! $100 minimum for first timers.
Then I check my e-mail and Full Tilt is offering me a lump $500 bonus if I withdraw a sizeable amount using MyWebATM (my first method of depositing on FullTilt) and redeposit this large amount using eCheck.
Sounds too good to be true, but I checked and they do have eCheck listed as a new option on FullTilt. I don't see how this is anything less than legit. I'll let you know if I get the $500 bonus.
Posted by: JLBSox | January 08, 2008 at 10:29 PM