With so many different payment methods and deposit methods available to customers at betting sites, choosing the right one can be hard. South African players have a fantastic range of options available to them, and a little help can make choosing the best much easier. We’ve put together this comprehensive, easy-to-read guide to payment methods for South African players, to help you identify which method suits you best.
Whenever you use an online sportsbook, you will see straight away that there is a huge range of different deposit methods available. This is due to the sheer variety of different payment methods that players can choose from based on their personal preferences. So, if an online betting site doesn’t have a full range of options available, some customers will be unable to use their services, and may look elsewhere. To help you get up to speed with what’s on offer, we’re going to go over the most popular payment methods available to South African players at the moment. OZOW: OZOW is a secure EFT payment service. It allows players to make electronic funds transfers quickly and securely. It can be linked to a number of accounts, and is accepted at both Betway and HollywoodBets. It’s one of the best sites for easy EFT in South Africa.
iPay: iPay is a payment method linked with both Visa and Mastercard for your convenience, and also uses MPesa. Payments are made securely and quickly, giving customers and betting sites peace of mind when it comes to processing payments. iPay promises that payments are completed instantly, as long as all details are entered correctly. SiD: SiD offers a helpful service called Instant EFT. This is linked directly to your bank account, and ensures that payments are completed instantly. One of the main advantages is that it doesn’t require any kind of card: it just needs to be linked to your bank account to work. SiD boasts security that’s on a par with banks, to make sure that customers’ critical details are kept safe at all times. EasyEFT: EasyEFT is at the top of the list of South African credit card alternatives. It allows transfers to be made easily and at very low costs. It’s one of the most popular payment methods for players at online betting. It’s also supported by all of the major South African banks.
Neteller: Neteller is an e-wallet. It lets customers use a variety of methods for making deposits and withdrawals. As a payment method, it’s known for its speed as well as its versatility. Both deposits and withdrawals are completed almost instantly when using Neteller. Furthermore, customers are able to make deposits and withdrawals using traditional fiat currencies and cryptocurrencies when using Neteller. Skrill: Skrill is in a similar vein to Neteller: it’s an e-wallet designed to offer a variety of functions. Customers can access lots of different currencies, including cryptocurrencies, which means it is highly versatile. It also offers an extremely fast withdrawal service, and can be considered very desirable to users of online betting sites. Credit/Debit Cards: These are the most common traditional payment methods used by customers online today. They facilitate a relatively fast transfer of payment, and include high levels of security too. They are available through most banks or finance companies, although it’s important to remember that credit cards often have interest charges and the money has to be paid back at a later date. Banks: There are a lot of banks providing South African players with the ability to make Electronic Fund Transfers. Some of the biggest names include Capitec, Absa, Finbond and FirstRand. It’s vital to make sure that your bank allows for transfers to be made to online betting sites before you sign up to a particular site. These payment methods offer the highest levels of security, but do tend to take a little bit longer than other services. Vouchers and prepaid cards: These act as a form of debit card. The voucher or prepaid card is loaded with funds at a participating outlet. Then, once the funds have been cleared, the card or voucher can be used to make a deposit at an online betting site. While it does make your money safer, it is a little more restrictive than other kinds of deposit methods. For example, every time you want to add more money, the card needs to be funded.
The deposit methods that banks usually offer today are often based around EFT. However, some sportsbooks allow for multiple other deposit methods to be used, providing a more diverse service. The least used is a cheque. Some online sportsbooks will allow players to use a cheque to make deposits, but this will obviously take significantly longer than other deposit methods available to customers. EFT and wire transfers are essentially the same service. This will take money directly from your bank account and send it to your online provider. The transfer can often take a few days to process in your bank, but will usually appear in your online betting sites account instantly due to the use of markers, which marks the money as already used.
When you choose your deposit method, there are a lot of different factors you have to take into account. The first is the level of safety on offer. If you’re considering a method that has minimal levels of safety, you should certainly steer clear of it, no matter how tempting it may be. All of the methods that we have mentioned in our guide have high levels of security, so you will be safe as long as you use one of our recommended online betting sites. You should also look into how long deposits and withdrawals take. If you are going to have to wait a long time to make a deposit or receive a payment, you might want to consider trying a different service provider in the long run. Charges are another important aspect. If they appear to be significant, you could end up losing a lot of money when making deposits and withdrawals over time. Look for payment methods that have low, or even zero, charges instead. Finally, you should look into whether or not you can use the same method for both deposits and withdrawals. This will keep the amount of information you provide at a minimum.
