EasyEFT is one of the most popular online banking methods for South Africans due to the instant real-time online transactions between bank accounts and the participating EasyEFT casinos. Apart from allowing instant deposits to online casinos, EasyEFT comes with small or non-existent fees and is a payment method that’s compatible with the majority of South African banks. Casino sites that accept EasyEFT and banks that accommodate its transactions also accept the ZAR currency, so no conversions between currencies together with additional fees will be necessary. Read on to find out more about the best EasyEFT casinos and why you should play using this electronic funds transfer payment system.
Is EasyEFT a decent SA casino payment solution or not?
EasyEFT is hardly an old casino payment method, but it has already gained ground in South Africa thanks to its numerous advantages. To begin with, it offers instant deposits directly from your bank account. The system doesn’t operate as a middleman like e-wallets do but it transfers the funds directly from the bank to EasyEFT casinos. You can use EasyEFT without even registering on their site. You just need to choose its option in one of your EasyEFT casinos and follow on-screen instructions to complete the transaction. Since it conducts bank transactions, EasyEFT relies on not only its own safety protocols but also those of banks since the transactions use the safe environment of the banking system, which makes it a completely safe and secure payment method. Let’s break down some of the additional pros as well.
- No limits on deposits
EasyEFT imposes no limits to your deposits, so you can deposit as much as the casino or your bank allows, much to the joy of high rollers among you.
- Supported by many well-known SA banks
Speaking of banks, EasyEFT has a broad network of most major South African partner banks that support transactions between players and EasyEFT casinos.
- Anonymity in banking details
Your banking details are never disclosed to casino operators and are only visible to EasyEFT that safeguards them on its protected servers at all times. Note that EasyEFT is available via mobile devices too, which means you can make safe, fast, and secure payments on the go.
- No fees
Last but not least, it’s the issue of fees. EasyEFT charges no fees for their services but the bank’s financial transactions might incur some fees. Luckily, these fees are footed by the casino in many cases.
There are also a few disadvantages that come with using EasyEFT. First of all, its use is limited to South Africa, which means only the residents of South Africa who have accounts in local banks can use it. Keep in mind that not all South African banks or South African online casinos support it, so your bank or preferred casino might not be part of the scheme. Also, not many online casino operators support the withdrawal option, so you might not be able to cash out your winnings. Finally, once you have made a payment, there is no turning back. The payments are irrevocable, which means that extra caution is necessary.
Which banks participate in the payment?
The biggest names on the banking market in South Africa are already on board with EasyEFT, including ABSA, Capitec, FNB, Nedbank, Investec, and Standard Bank. Moreover, the number of EasyEFT banks is continuously increasing to include the remaining banks as well. The payment was designed for the South African market solely, so all transactions are completed in South African rands (ZAR). As pointed out earlier, you won’t have to worry about any conversion rates or exchanges.
How to deposit & withdraw your casino funds via EasyEFT?
To complete the deposit process in EasyEFT casinos, you need to follow a couple of simple steps. First, for a deposit to be successful, you must choose the site that offers it. Let’s take one of the best EasyEFT casinos, CasinoLuck as an example. This particular site also offers a unique bonus to SA players. Then go to the Cashier section of the casino and select the logo of the company. It is usually found under the e-wallet category, although it is more of a banking system than an e-wallet. A pop-up window, in which you need to input the amount you wish to deposit, will appear. After that, you will select your bank and get redirected to your bank’s official page where you will enter banking credentials to confirm the payment.
By confirming the payment and following your bank’s instructions, you’ll conclude the process. The EasyEFT casino deposit process is instantaneous and requires no further identity checks or verification. The minimum deposit limits for the method depend on the casino, but the usual minimum is 25 ZAR. On the other hand, withdrawals, although quickly completed, are not that easy to come by since not many South African online casinos allow the option. To withdraw your winnings from the ones that do allow it, you have to follow these simple steps.
Go to the Cashier section of an EasyEFT casino of your choice, select its logo and specify the amount you wish to withdraw. Then, select a bank where you want the winnings to be credited. After that, verify the transaction with your banking credentials and expect your funds to reach your account in 2 to 7 days. The withdrawals take much longer than EasyEFT casino deposits, almost like with traditional bank transfers. The minimum withdrawals depend on the casino in question, but casinos and banks usually won’t process any withdrawals under 500 ZAR.
EasyEFT casino fees: Will I have to cover extra costs?
When it comes to EasyEFT fees, you have nothing to worry about since neither the payment system nor the casino charge any. However, certain fees can be charged by the banks. The good thing about these transfer costs is that, typically, it is that usually casinos foot the bill, not individual players, so you don’t have to cough up extra cash for using EasyEFT. If the casinos don’t cover the costs, you will have to cover the commission rates that are usually measured in just a small percentage of the entire deposit/withdrawal amount. However, when you go with the best EasyEFT casinos such as Slottica and Bondibet you know you won’t have to worry about such things.
My casino doesn’t accept the payment – Any alternatives?
In case your casino of choice doesn’t support EasyEFT, there are a few alternatives you can resort to, including e-wallets such as Skrill, Neteller, and ecoPayz, or traditional bank transfers. However, when compared to EasyEFT, these methods come short on several parameters. First, to use Neteller, Skrill, or ecoPayz, you need to register an account, which isn’t the case with EasyEFT. Most importantly, there is the question of fees. Funding your Skrill account, for example, comes with a 2.50% fee, while withdrawals to bank accounts include a 7.50% fee. The same goes for Netteler. Neteller’s deposit fees are the same as Skrill’s, whereas Neteller’s withdrawals have fixed-rate fees. If you opt for depositing with ecoPayz, you’ll first need to deposit funds to your ecoPayz account, which will come with a 2.9% fee.
When compared to traditional bank transfers, EasyEFT emerges on top, too. First of all, with regular bank transfers, you need to divulge your banking data directly to casinos, whereas with EasyEFT, that data is never revealed to the operators. Furthermore, bank transfers, both for deposits and withdrawals, are never as fast as EasyEFT’s since the verification process takes a lot of time to complete.
It should also be noted that, although deposits via bank transfers might come free of charge, the withdrawals almost always come at a cost. Moreover, the minimum withdrawal limits are exceedingly high and can reach several hundreds of US dollars, which means conversion rates should also be taken into consideration. Security measures of both EasyEFT and bank transfers are top-notch and they frequently overlap, so as long as you keep your banking details to yourself, you will be completely safe when using EasyEFT and bank transfers to fund your online casino account and withdraw your winnings.