EasyEFT, a payment method designed specifically for bettors in South Africa, is second only to credit cards in terms of popularity. It is accepted by virtually all stores in the United States and can be used to make purchases in place of a credit card.
Quick withdrawals, dependability, and a lack of fees all contributed to its popularity among South African players. Here, you’ll learn, among other things about EasyEFT’s essential features:
Where to make a deposit and how to cash out.
ᐉ Exactly how to make a deposit with EasyEFT and send it on to your chosen bookmaker is laid out in detail.
Every good and bad thing about using an EasyEFT betting site.
Ηow to bet with EasyEFT
No outside service subscription is required. Using EasyEFT is as simple as visiting your preferred online bookmaker. Having a bank account is required, but a credit card is not.
- Select the “Deposit” tab.
- Choose the “EasyEFT” option.
- Pick a financial institution and enter your account number.
- Check the details of the deal.
It’s as easy as that. With funds in your betting account, you can place your bets immediately.
Cashing out means transferring money from the site to your bank account. When prompted, select “Withdrawal,” then “Bank account,” and enter your account number and full name. The winnings should be visible in 1-3 days. When the amount of a payout is less than 500 ZAR, most banks will not process it.
Benefits of betting with EasyEFT
- Firstly, deposits are processed instantly, and withdrawals take no more than a few days.
- EasyEFT doesn’t charge any transaction or payment fees. You’ll need your bank to make that change.
- EasyEFT does not require you to create an account on a third-party service. It’s not necessary to do anything besides deposit money into your bookmaker’s account.
- Since you are making a deposit from your bank account, the same safety precautions that your bank takes to protect your money also apply here, making this a reliable and secure method.
- The service is geared toward the South African market, so it accepts ZAR and is only available in that country.
- Standard Bank Group, First National Bank (FNB), Absa Group, and Nedbank Group are the four largest banks in South Africa. All four of these institutions work with EasyEFT, as do Rand Merchant Bank (RNB) and Capitec.
- EasyEFT allows you to bet without the use of a credit card by simply requiring a bank account number. There is no need to use a credit card.
Drawbacks of betting with EasyEFT
- Challenges of EasyEFT Gambling Betting establishments’ limited embrace: As a result of its exclusivity to South African punters, many offshore bookmakers do not accept it.
- Even though EasyEFT does not cost anything, your bank may assess a fee for processing your bookmaker’s transactions.
- Since EasyEFT uses your bank account number to process payments, tax and other authorities will have no trouble keeping tabs on your bets and the associated financial transactions.
- EasyEFT is only compatible with South African Rand (ZAR) bank accounts, so you’ll need one if you want to use it.
- One of the biggest drawbacks of this payment method is that many bookmakers do not permit payouts. Winners will have to figure out other ways to get their money out of the system.
After weighing the benefits and drawbacks of using EasyEFT for betting, it is instructive to learn whether the service charges any additional fees. Also, any South African bettor would be wise to consider other deposit methods alongside EasyEFT.
Do bets placed through EasyEFT incur any costs?
All transactions to and from EasyEFT betting sites are free of charge. Bettors, however, should remember that their bank may assess a fee for each transaction. If there are any fees involved, they should check with the bank first.
Limits can vary depending on the bookmaker, but in general, a minimum deposit of ZAR 25 is required. While individual bookmakers’ withdrawal limits may vary, no bank in South Africa will process a withdrawal of less than ZAR 500.
Methods besides EasyEFT
Methods other than EFT However, while it is a popular banking option in South Africa, not all gamblers are comfortable using it. This is because EasyEFT is not accepted by a large fraction of online bookmakers. Consequently, your best options are:
Credit cards: Credit cards are the most widely used form of payment at online bookmakers because they are convenient, safe, and fast. It’s possible that betting sites that accept Visa and Mastercard are the most reliable choices.
When it comes to electronic wallets, Skrill bookies and Neteller betting sites are your best bets because of the privacy and speed with which they process withdrawals.
Is mobile EFT betting allowed?
EasyEFT is just a middleman between your bank and the gambling site. The mobile betting app EasyEFT makes the process simple. No extra software or app download is required. If you want to make a deposit with your preferred bookmaker, all you have to do is go to their mobile app or website and perform the standard deposit procedures.
Should You Take a Chance on EasyEFT?
With its low operating costs and user-friendliness, EasyEFT has made a significant impact in the South African market. The potential for bonuses is also a nice perk.
However, this is where the benefits end, as only a small number of reputable EasyEFT bookmakers exist. That means a lot to the high-stakes bettor, for whom security of their money is paramount. EasyEFT uses your bank account for payments, so the government can potentially monitor your betting habits if they so choose.
Due to concerns about security and trustworthiness, we cannot endorse any betting sites that accept EasyEFT. Instead, we recommend using a digital wallet service like Skrill or Neteller.
Frequently Asked Questions
How does EasyEFT work, and what is it?
In South Africa, it is a common method of exchange. Using this method, you can make purchases without using a credit card by instead providing information about your bank account.
Can I use EasyEFT for betting?
That’s correct, because it can be used at betting sites that also accept payouts. There are no limitations on redeeming sign-up bonuses either.
To which EFT service providers do most people turn?
EFTsecure, EasyEFT, PayFast, OZOW, and EFTPay are the most well-known and generally accepted methods. They fully support the ZAR and make it possible for payments to be processed at any store in South Africa.
Does using EasyEFT cost anything?
While there are no service fees associated with using EasyEFT to transfer funds to bookmakers, your financial institution may assess a fee for withdrawing funds. Don’t forget that the government that collects your taxes might ask about your gambling.
