SouthAfricaSportsBetting.com is part of a national network of sports betting review
sites, which provide country-specific information to consumers about online sports
betting.
South Africa Sports Betting Banking Methods
You want to get started betting on your favourite sports but want to learn about
the best services available to deposit and withdraw funds from your sportsbook account.
I’ve outlined the kinds of banking methods below by category and listed the most
accepted methods within each category for service in South Africa. You will see
that the most popular methods are generally available across each of the sportsbooks.
If you are interested in understanding the transaction size limits for each method,
these vary by sportsbook. In other words, the limit for Skrill will be different
at each sportsbook. I cover transaction limits with the high stakes sportsbooks
on a page about high limit South Africa sports betting. Below this first section
about the banking types and the respective companies in each category, I show you
which methods are accepted by each sportsbook and the betting account currencies
that are offered. Note that each method may only support certain currencies. In
particular, when dealing in Rand, only some e-wallet companies provide support. Knowing
your desired currency for betting will be key, as your banking method base currency
should match your betting account currency so that you can avoid currency exchange
fees. You might note that Paypal is not listed here. This is because Paypal does
not process payments from South Africa to sports betting companies. They only do
this for select countries within Europe.
Credit Cards like Visa and MasterCard are accepted by every sportsbook in my list.
Depending on your credit card company, your deposit may be treated with sportsbooks
as cash advances, not purchases. This means that your transaction may be eligible
for interest charges from the moment of the transaction. Check to see if this is
in fact the case with your particular card if you wish to avoid these interest charges.
Maestro and Visa Debit and Visa Electron are considered “debit” solutions which
allow you to debit funds from your associated bank account, which avoids interest
charges.
Entropay is essentially a virtual Visa card which is prepaid - meaning there is no
credit check or application required. It allows you to pay instantly and privately
so that you don’t share your financial information with the betting service, and
your card statement won’t have a betting-related charge listed, but rather “Entropay”.
You can load your virtual Entropay Visa by using an actual credit card, your debit
card or with your bank transfer and funds can easily be paid back onto your Entropay
virtual Visa for transfer back to your original funding source. If your funding
source is a credit card, by using Entropay as the intermediary solution, you can
avoid potential cash advance interest charges that might be applicable in your jurisdiction
as your transaction with them will be treated as a purchase, not a cash advance.
The benefit of this is that funds can be transferred back onto the card for withdrawal
at any local ATM. Entropay is available in South Africa, but your Entropay balance
will be in USD, GBP or EUR which means that there will be some currency exchange
as part of your transactions if you have your betting account in the rand.
Credit cards, debit cards and prepaid card solutions
E-wallet solution providers
Bank debit and transfer solutions
If you want to use funds from your bank account directly, you can transfer funds
via wire transfer. However, you may prefer the safety of e-wallets given the laws
surrounding gambling that is unrelated to sports betting in South Africa (sports
betting is no problem). For example, some of our listed companies also provide online
casino and poker games that are technically not allowed, though you can likely still
access them. If you are in South Africa, you will leave a record that you transacted
funds to an out-of-country company that deals in these forms of gambling. E-wallets
add a layer of anonymity. Bank Wire Transfers are available at all listed most betting
sites. Wire transfers may take a little longer to settle as a transaction but this
method generally allows for extremely high limits and is thus very good for high
rollers.
Skrill, Neteller and EcoPayz are some of the names you may have heard about for online
payments and transfers. These are often referred to as e-wallets. With them, you
can link a credit card or bank account as a funding source to deposit money into
your betting account, or conversely, use them to withdraw winnings back to your funding
source. However, it is very important to note that if you hope to bet using the
rand, Skrill Neteller and EcoPayz offer ZAR e-wallet accounts, so you may deposit
and withdraws funds to and from an ZAR betting account without having to exchange
funds.
The benefit of these e-wallet providers is that they allow you to move money electronically
for very low fees, in very little time. Depositing money is nearly instantaneous,
and withdrawals are often processed within 24 hours at most betting sites. They
also provide a layer of insulation between the sportsbook and your funding source
like a bank, making them a safe banking option. Once the money is in or funding
source attached, only the e-wallet, you and the recipient of funds will know about
your transaction details.
An additional benefit of some of these e-wallets is their ability to allow you to
access their service from your smartphone or mobile device. Additionally, most of
these e-wallet providers allow for transaction sizes large enough to accommodate
the needs of almost every bettor.
Betway South Africa Banking Methods
Unibet Norway Banking Methods
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