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Deposit Methods Guide
Playing at an online casino that offers efficient payment methods contributes to customer satisfaction. No one wants to waste time on non-playing related activities while at an online gambling platform. Thus, most of the online casinos listed on our site, even let you make in-game deposits. You can add funds to your account while playing.
To avoid currency exchange fees, many opt for casinos that process transactions in South African Rand (ZAR) and offer methods that target South Africans, such as EasyEFT, SID Instant EFT, Pay By Phone, or popular e-wallets.
Which is the best Payment Method?
Of course, every method has its pros and cons. What is best for you depends on your needs. Most South African players, like everyone else, look for fast withdrawals. Thus, this group of players prefers to use e-wallets. These also offer anonymity. If that’s what is most important, perhaps, Bitcoin is an option worth exploring.
If security is your number one priority, a popular credit/debit card is always a safe bet. Know that at some casinos, e-wallet users may not be eligible for bonuses.
How we rate payment methods
There are a lot of things to consider when rating a payment method. Because we consider ourselves a transparent casino guide, we do the research and tell our readers exactly what criteria we use. What we account for when evaluating all featured options.
We have used all available payment methods at many different online casinos, so we have experience, and know what to look for in a payment method. That includes:
- Ease of use
- Payout speeds
- Extra fees
The Best Payment Methods
A major factor in any proper evaluation is trial and error. However, you cannot do all the leg-work yourself. Therefore, consider yourself lucky that our team of industry insiders and casino veterans have used their experience and time to add to our guide and inform you on what are the most popular payment methods for players residing in South Africa.
Casino patrons cannot know what other players are using, but due to our long-industry standing and connections, we know what South African players are using and why.
Credit and Debit Card
Most South Africans casinos disposes MasterCard and VISA their disposal. So, there’s a convenience aspect of using this method. These cards also have a high standard regarding transaction security, and use the latest available technology.
Credit availability can be both a positive and negative when using a credit card at a gambling site. Nevertheless, there are a few other negatives. These include slow withdrawal speeds, the possibility of rejection due to complex regulation, and no anonymity.
Though, often shunned in other regions, using bank transfer has some benefits. It is one of the most secure ways to fund your casino account, and anyone with a bank account can use it.
Drawbacks include super-slow withdrawal times and the fact that some banks may refuse gambling-related transfers using this method.
Many South Africans use EasyEFT as an alternative to card options. It is a Rand-based electronic funds transfer, one that acts as a middleman between a bank account and your online casino account.
The terrific thing about PayPal is that it can act as your casino bankroll. A perfect solution for those with gambling problems. It provides detailed transaction history, so you can also track your movement of funds with ease.
PayPal is a huge company, so players do not need to worry about leaks regarding their bank details. Transaction speed and anonymity are also contributing factors to the method’s popularity.
Drawbacks include slow customer support and high user fees. Also, other e-wallets have more of a presence at online gambling sites.
E-wallets are among the most popular, if not, the most popular payment method today. They provide anonymity, ease of use, and speed. Using an e-wallet is much simpler than other methods, and each transaction goes through instantly. They save time and reduce hassle.
Those worrying about safety should know that external financial bodies regulate e-wallets. As play-on-the-go has become the norm, the ease with which you can deposit and withdraw funds using an e-wallet through a mobile device, is another reason why, according to many, this option is king.
Formerly known as Moneybookers, Skrill is a widely-used online payment system that originated in the UK but now is popular worldwide, including in South Africa. Players use Skrill as a third-party payment processor when playing at an online casino. The e-wallet handles casino withdrawals and deposits on the player’s behalf.
The reason it is gaining popularity with South African players is due to its speed, minimal processing fees, and the fact that the company offers peace of mind through chargeback coverage and protection.
Neteller originated in Canada in 1999, though the company moved to the Isle of Man in 2004. Today, it falls under the Paysafe Group, alongside Skrill and the prepaid method PaysafeCard. Currently, it is one of the largest money transfer services in the world. It is available in over 200 countries, including South Africa.
Given that Paysafe Group owns both Skrill and Neteller, and the services compete for the same demographics and user-base, it offers similar benefits as Skrill. Instantaneous transfers, convenience, and anonymity.
Choose the best payment method
There is no such thing as the best option or one method that suits almost everyone. The reality is that choosing what is best for you is highly subjective. It depends on your preferences, what’s available for players in your region, what you crave most, and so on.
Every method shares some similarities with others, yet they’re all different. Cryptocurrencies may provide total anonymity and the fastest speeds, but not all online casinos accept them. Thus, here are a few factors you should consider when making your choice.
Most online casinos cater to European and North American players. Thus, virtually everyone accepts Euros, US, and Canadian dollars. However, since South African players can play at off-shore sites, many of these allow the use of South African Rand (ZAR).
To avoid fees associated with currency exchange, as well as the inconvenience this process may bring, this is a very sensible option. Exchange rates fluctuate, so it pays off to play at a casino that lets you use your preferred currency.
There are no payment organizations or auditors that license payment methods. Nonetheless, online casinos that offer gambling services to South African players hold licenses from online gaming regulatory bodies.
Most such casinos have either an MGA license or one of four Curacao master license holders. These organizations regulate said casinos. They set criteria regarding payments, responsible gaming features, compliance concerning the site’s terms and conditions, and more. They oversee these aspects and make sure that everything is on the up and up.
Apps for making casino payments
The invention of the smartphone brought dedicated software that you can use from the palm of your hand to perform all kinds of activities, money transfers included. Today, most payment methods have apps that you can download from the Apple Store or Google Play, depending on the type of device you own.
You can use this software, together with the online casino of your choice, to fund your casino account. You can send money directly from the app and get instant payment confirmations on your smartphone.
Deposit Methods in South Africa
If you are an experienced player, you know that even though there are many deposit options, the primary factor one must consider is speed. You do not want to catch the gambling bug, get an itch to play, and be left waiting for longer than necessary processing times. You’ve deposited your funds, but they still haven’t landed in your casino account, and you are left unable to play.
Today, most methods provide instantaneous deposits. However, this may differ from casino to casino, especially relating to the card and bank options.
How do I make a deposit?
The process of funding your account is simple. All you have to do is head to your account page and choose the cashier option. In many cases, the top navigation bar will feature a deposit button for easy access. Once inside, you will have to select your preferred method, enter the required information, and choose the desired amount.
Depending on the method used, you may have to confirm the transaction for the funds to transfer. We suggest using e-wallets for quick and easy transfers.
Withdrawals are a bit more complicated. For one, some sites may restrict you to remove funds using only the method you deposited them through. Some find this limiting. Also, many platforms offer fewer withdrawal options, and they are more likely to charge fees for withdrawals.
When it comes to processing times, if you’re using a credit/debit card, it may take up to five banking days for you to get your funds. For bank transfer, it may take up to seven or more.
How do I make a withdrawal?
Withdrawals follow the same pattern as deposits. You access the cashier tab in your account, select the withdrawal option, and the method you want to use. Then, you enter all the necessary information, as well as the desired amount.
Once you click the withdrawal button, and the specified processing period passes, you can check the account you transferred your funds to, and confirm that they have arrived. Again, if you are using fiat currencies, we recommend an e-wallet for this procedure. It is the quickest way to get your winnings.
Which is the safest payment method?
Nowadays, every payment option provides adequate safety assurances. They all have protocols in place that protect any funds they handle.
Credit/debit cards use different technology and procedures against theft and fraud. They can get in touch with the card issuer if the user notices an unauthorized payment.
Many e-wallets use the now-standard two-factor authentication measure to protect against hackers. Popular South African methods such as Pay By Phone, EasyEFT, and SID Instant EFT, are also extremely safe.
What is the Usual Withdrawal Time of Winnings?
Withdrawal times vary depending on the method, as well as your online casino. The times differ from casino to casino, but there is a rule of thumb we can apply.
When it comes to e-wallets, transactions should happen instantly once the casino accepts the withdrawal. The same goes for cryptocurrencies.
For credit/debit cards, the process is slower and usually takes between two and five banking days. For bank transfer, the timeframe is often longer and may take up to seven or more banking days.
What is the processing time?
The processing time is the timeframe from the moment you asked to get your funds, to when your funds leave your casino account, and they reach your bank account or e-wallet. During this period, the casino performs the necessary work to facilitate this transfer.
Fast payouts imply good financial health of the casino, and they ensure customer satisfaction. All the casinos on our site feature quick processing times, with instantaneous transfers for many options.
What security measures are taken?
Online casinos use advanced encryption to protect all data that users enter on the site. They also may have to comply with AML (Anti-money laundering) and KYC (Know-your-customer) regulations.
These are in place to ensure that no illegal activity takes place. Thus, before a South African player completes a withdrawal, he may have to submit personal documents such as an ID, passport, driver’s license, or a utility bill.
This is a one-time verification process to confirm a player’s identity and protect against fraud.