Automated Clearing House (or ACH for short) has, for more than two decades, been the go-to method for US players to make deposits and withdrawals at internet gambling sites. Even though it’s not as common as it was a decade or so ago, thanks to increasingly strict banking regulations, ACH still has some staying power.
Automated Clearing House is a form of bank transfer protocol that allows gamblers to fund their internet NJ casino accounts using their online checking accounts. You could think of it as a modern form of a bank wire. So if your bank or credit union offers a checking account that’s accessible online, ACH might be your best option for making deposits to the internet gambling sites that accept this mode of payment.
As with most deposit payment methods, ACH transfer has some perks, as well as a fair share of downsides, all of which we shall explore in the following sections. We’ve also listed some of the best ACH New Jersey casinos, so you can sign-up and deposit with extra peace of mind. All of these gambling sites process ACH deposits quickly and inexpensively, without having to divulge your sensitive bank details.
ACH payments are made directly between your bank checking account and the NJ casino, so you can expect the transactions to be secure, fast, and trackable with digital fingerprints. Keep reading to learn more about the ACH system, including deposit methods available for online NJ casino games, how it works, which casinos accept ACH, safety and security, pros, and cons.
What is ACH?
Automated Clearing House (abbreviated ACH) is an electronic bank transfer system exclusive to US customers. In this bank transfer protocol, the user allows merchants, such as New Jersey online casinos, utility companies, cell carriers, landlords, and so forth to electronically move funds directly from/to their checking or savings accounts. The key here is that the customer (account holder) has to first give permission.
Although it traces its roots back to the 1960s, the first ACH system was established and run by the Federal Reserve Bank of San Francisco in 1972. Today, the automated clearinghouse is operated by the National Automated Clearing House Association (NACHA). Thanks to recent revisions to the ACH rules, withdrawals, deposits, and other payments made through the system now clear within the same business day.
ACH was originally created to replace physical checks and cut fund-transfer processing times. That’s why ACH transfers are also known as eChecks or instant electronic checks. Unlike traditional checks, ACH deposits and withdrawals can be made without revealing your bank details.
ACH has been a prominent part of electronic payments in the US for the past 20+ years and is particularly loved for its security safeguards. Equally important, payments and transfers made through the ACH system generally have lower processing fees than bank wire transfers and credit card transactions. It’s also a great option for transferring large amounts of money and paying big bills like annual gym memberships, rent, tax remittances, and so forth.
How ACH Works for New Jersey Online Casinos and Sports Books
ACH works much like any eCheck or bank transfer vehicle, except that it only works in the US. It is not a viable deposit option for online NJ casino gamblers outside of the United States. Like other forms of bank transfers and popular e-payment methods, ACH enables online gambling sites (and other internet merchants) to electronically debit and credit their member’s accounts pending approval and verification by the client.
With ACH transfers, the funds are moved directly into and out of your checking or savings account. In a broad sense, the ACH system covers several types of payments, including direct deposits, person-to-person payments, fund transfers, bill payments, and more. With this in mind, ACH transfers can be executed in two ways:
- Debit – In this transfer, funds are withdrawn from your bank checking account. Traditionally, this method is aimed at recurring payments such as rent, insurance premiums, or loan payments for which the client sets up an automatic deduction of the amount owed every month. ACH also allows one-off debit payments, such as when you authorize a New Jersey online casino to transfer a certain amount of funds into your gambling account.
- Credit – This is a “push” type of transaction whereby money is moved directly into your account from another bank.
To make ACH deposits, you have to get in touch with your bank and set up an electronic check payment. You can do this by copying your check ID, checking account number, and bank routing number, so the NJ casino gains your permission to transfer funds to your online gaming account without any banking regulation hurdles.
More often than not, ACH deposits to New Jersey online casinos are processed automatically with few if any authorizations needed down the line. Nonetheless, working around anti-money laundering and Know Your Customer (KYC) regulations means that most ACH transfers can take 3-7 business days to clear. In fact, it can take more than 10 business days if issues with processing regulations arise along the way.
Bank Transfers vs ACH Deposits for Your Preferred New Jersey Casino
Most gamblers who wish to skip credit cards, e-wallets, and debit cards when making deposits to online NJ casinos often have to choose between ACH and bank transfers. There are obvious points of convergence between the two methods of payment — for one, they both involve funds being transferred into or out of a bank account. So, which method is better?
It often boils down to your personal preference and what you want to achieve from the transfer: more speed or lower fees? Let’s take a look at some differences between ACH vs bank wire so you can choose the best method of deposit for your situation:
- Cost of processing: ACH is a clear winner here. Instant eCheck deposits are far cheaper than bank wire transfers. No matter where you decide to play, ACH deposits and withdrawals typically attract zero fees. If there’s a processing fee, it’s usually less than $1 even for large deposits.
Bank wire transfers, on the other hand, can cost you between $10 and as much as $35 per transaction. These exorbitant charges lead most online NJ casinos to dissuade their customers from using bank wires for deposits.
- Processing speed: Bank transfers often take nearly the same amount of time as a deposit made through ACH, just for different reasons. Either transfer method usually takes 2-3 business days and in some cases up to 7 days or more to clear. ACH deposits are slow because they are processed on a batch basis; bank wires are slow because of a careful verification process.
- Safety and security: The ACH system is heavy on security features. Bank wire transfers have a very small window during which you can cancel the transaction if you discover that the New Jersey casino has a less than stellar reputation.
ACH deposits, on their end, can be reversed if you suspect fraud, error, or for any reason, you decide you don’t trust the gambling site. Simply contact your credit union or bank, and they’ll cancel the deposit should they feel that the transaction is fishy.
While both ACH and bank wire transfers can be used to fund your online gambling account, they are best suited for different scenarios. If you want to make a quick deposit and are willing to pay a steep fee, a bank wire should be your top choice. However, ACH transfers are great if you’re more cautious, don’t want to pay a large fee, and prefer not to divulge your bank account details.
Which NJ Casinos Accept ACH?
A growing number of New Jersey online casinos now accept ACH deposits, especially those that serve in gambling-friendly states like New Jersey and Nevada. Online NJ casinos and sportsbooks that accept ACH deposits include: Borgata, BetMGM, PartyCasino, 888 Casino, William Hill, Caesars, SugarHouse Casino, Golden Nugget, Tropicana, Virgin Casino 888 sportsbook, William Hill Sportsbook, DraftKings Sportsbook, Borgata Online Sportsbook, Hard Rock Sportsbook, BetMGM Sportsbook, PointsBet Sportsbook, FoxBet Sportsbook and FanDuel Sportsbook
How to Make a Deposit using ACH
Using the ACH system to make a deposit is an easy and straightforward payment method as long as you have an eligible bank checking (or savings) account. Deposit payments are transacted privately and directly between your bank and the NJ online casino. You can also make ACH deposits whenever and wherever you are using a mobile NJ casino app.
In either case, you should follow these familiar steps:
- Step 1: Visit the Cashier section of the NJ online casino. Look for an ACH logo (it can also be named ACH Direct Deposit, ACH eCheck, etc.), and select it as your deposit method.
- Step 2: Fill out your banking details. On this step, you’ll enter your bank account number, bank name, and the routing number.
- Step 3: Enter the amount you wish to deposit. On the face of the eCheck, you will type in the deposit amount, noting the minimum and maximum deposits established by the NJ casino.
- Step 4: Verifying and authorizing the deposit. Once the NJ casino contacts your bank, they’ll ask for your confirmation. If you approve, the bank will send out an ACH deposit to the NJ casino.
- Step 5: Wait for the funds. Depending on the processing regulations, the funds should be reflected in your online gaming wallet between 1 and 3 business days.
How to Make an ACH Withdrawal from Your Favorite NJ Casino
Trustworthy New Jersey online casinos make sure ACH withdrawals are as simple and painless as possible. As with making an ACH deposit, you have only to follow a few easy steps to move funds from your gambling wallet to your bank checking account:
- Step 1: Visit the New Jersey Casino Cashier section. When you are sure all wagering requirements have been met, head over to the cashier section of the gambling site and choose withdrawals.
- Step 2: Choose ACH as your withdrawal method. As you will soon realize, most online NJ casinos require players to use the same payment method for both deposits and withdrawals. Look for the ACH logo, click it, and choose it as your withdrawal method. If it’s your first time, you may be required to enter your bank account information to facilitate the transfer.
- Step 3: Enter your desired withdrawal amount. Before you enter the amount you wish to withdraw, make sure it’s more than the minimum and less than the maximum amount allowed per ACH withdrawal.
- Step 4: Withdraw and wait for your funds. You will receive the money directly into your chosen checking account within 1-7 days (usually less than 3 business days). The exact period will depend on the pending period, and how long the bank and NJ casino take to process the transfer.
ACH Safety and Security
When determining the safety of e-payment methods, it’s important to look at the route through which your money passes. For ACH deposits, your funds are moved directly from your bank into the NJ casino without going through a 3rd-party. That’s good news in terms of security and safety.
When conducting a deposit via the ACH system, you will be required to furnish the NJ casino with your bank account details (bank name, account number, and routing number), all of which must be protected and encrypted using the latest security features. Be sure to carefully check the security and encryption technologies put in place by the NJ casino before you make an ACH deposit.
In the second stage of the processing, the NJ casino makes an electronic contact with your bank on the Automated Clearing House network. You don’t have to be concerned because ACH uses military-grade encryption and powerful security measures to protect transactional data and your bank details.
The biggest advantage of the ACH system is its fraud-protection capability. Even if the deposit payment has been cleared, ACH allows you to cancel or reverse the transfer if there’s an error, fraud, or other mishaps. This makes ACH a more hassle-free and safer alternative to bank wire transfers that can’t be reversed.
Pros of ACH for NJ Online Casinos and Sports Books
- Safe and Secure – ACH is a highly secured payment method for making NJ casino deposits. That’s because the system is safe and securely backed by more than two decades of reputable e-payment processing. Furthermore, you don’t have to enter your credit card details.
- Versatility – ACH can be used to make deposits and withdrawals. You can use this method on mobile devices, tablets, or desktops.
- Widely accepted – Unlike other payment methods like PayPal and credit cards, ACH enjoys widespread acceptance, especially among US player-friendly NJ casinos.
- Easy and convenient – You should complete the transactions in a few steps once you have verified your gambling account. It doesn’t require additional tools or cards.
- Inexpensive – Banks and NJ casinos usually don’t charge a fee for processing ACH deposits. If they do, it’s usually less than $1 per deposit.
Cons of ACH for NJ Online Casinos and Sports Books
- Takes long to be processed – ACH deposits and withdrawals may take up to 7 days to go through. Given the limited payment options available to US players, it’s still worth considering.
- High minimum transfers – ACH deposits and withdrawals require a minimum of $50. If your balance is lower than $50, your transfer will be canceled and money returned to your checking or gambling wallet respectively.
- You need to know your bank details – You would be surprised by how many people don’t know their account’s routing number.
- You will have to share your bank details – Unlike PayPal and other e-wallet services, you will be requested to supply your bank account name, number, and routing.
Final Thoughts
ACH deposits are processed by most gambling sites as conveniently as you would buy chips at a cash cage in a land-based NJ casino. Players prefer ACH deposits because their banks’ eCheck verification network provides an added layer of security and protection should any problem arise down the line.
With the Unlawful Internet Gambling Enforcement Act (UIGEA) still in force in most states, US players are getting frustrated by the lack of deposit options. ACH remains one of the most viable deposit payment methods available to them.
