PayFast casino sites are very popular in South Africa. For gamblers in this part of the world, PayFast EFT payment is one of the most popular, convenient, and secure. Credit cards, direct wire transfers, and e-Wallets are nonetheless popular payment gateways for punters. To fund your gambling account using Instant EFT by PayFast payment method, register an account and link it to any of the Instant EFT casinos South Africa.
Note that choosing the best instant EFT casino South Africa boils down to signing up with a safe and trusted gaming platform. Moreover, websites that accept EFT as a deposit option often allow punters to deposit and withdraw funds in South Africa’s currency. Thus, funding your PayFast casino South Africa should be safe and convenient. But while you may have read reviews about top PayFast casinos, this post delves deeper into this subject to help you understand EFT payments for real money punters in South Africa.
The Most Popular Instant EFT Casinos in South Africa
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What Is Instant EFT by PayFast Banking
EFT means Electronic Funds Transfer, a popular way of moving money around the world electronically. There are many ways of using EFT. It is easier for a gambler who has used instant EFT to fund their casino accounts. Note that EFT by PayFast makes it easy to move funds from your bank account to a gaming site or another bank account. Today, EFT is the second most popular way of transferring funds to popular South African casino sites from banks such as ABSA, Standard Bank, Bidvest, Ned Bank, and African Bank. Moreover, you can use EFT in South Africa to transfer funds globally by adding a credit card to your PayFast account dashboard.
How to Use It
If you are having trouble paying with EFT, worry no more. Follow these steps to get started with the Instant EFT payment method on your casino account:
- Sign up for an EFT account on the PayFast platform.
- Next, transfer money from your bank account to a casino gaming site.
- Note that the bank often places a marker on the deposit, in which case, funds reflect on your gaming account but do not immediately leave your bank account.
- However, placing a marker on the transaction does not mean funds exist in two places. It is only proof that a transaction has taken place. And even though the bank is yet to process the deposit, you can place bets using the funds right away.
- Markers are not placed on withdrawals hence do not reflect immediately in your bank account.
- Processing of PayFast withdrawals often takes between 1 and 12 days.
Your Guide to Depositing/Withdrawing at an Instant EFT Casino Sites
Notably, deposits or withdrawals in instant EFT casinos work in two ways. First off, the integration of EFT in online casinos eliminates the stress of manually transferring funds between a gaming site and your account. Alternatively, link your bank account to PayFast for an instant EFT casino deposit.
- Log in to your PayFast casino account.
- Visit the cashier page and deposit using instant EFT.
- Next, fill in your EFT account details and select your bank from the available options.
- Fill in the value of your deposit.
- Enter your password to make a deposit using PayFast.
- To withdraw funds using EFT on PayFast casinos, go to the cashier lobby on your casino account and choose withdrawal.
- Indicate the amount to withdraw.
- Choose EFT as the withdrawal option on the payment interface.
- Add the details of your bank account, then proceed to confirm the transaction with your password.
Instant EFT Costs and Timing
Instant EFT payment is free when depositing funds to your casino account. However, you incur a small fee when withdrawing funds. Ostensibly, EFT withdrawal fees are affordable but can be quite high in some cases. And when it comes to timing, transactions are usually processed within a day. For international deposits/withdrawals, PayFast EFT payments could take longer. Moreover, withdrawing large amounts of money above $25,000 usually take longer periods to complete.
Advantages and Disadvantages of PayFast
PayFast EFT is a popular electronic payment gateway today in South Africa that is also preferred by online merchants and shoppers. Most punters argue that Instant EFT is convenient for them because it simplifies online transactions. Let’s explore some advantages and disadvantages of it.
- EFT deposits are available immediately on gaming accounts.
- You can easily claim a refund on the PayFast dashboard if using the EFT platform.
- The payment method easily integrates with online casinos hence making deposits easier and convenient.
- Instant EFT supports transactions to several South African banks such as ABSA, Capitec bank, Investec, FNB, Standard Bank, and others.
- It is ideal for transferring large sums of money.
- Instant EFT withdrawal fees can be costly, especially with larger amounts.
- Sometimes withdrawals can take a long time to reflect on your gaming account.
Using Instant EFT Globally
EFT is available globally hence can be used to move funds from South Africa to Australia, the USA, the UK, France, and many other locations.
In South Africa
Register for a PayFast account to use it in Instant EFT online casinos in South Africa. To fund your casino account, sign in and choose Instant EFT as your preferred banking option.
EFT global payments are swift and secure. However, link your South African bank account with the PayFast EFT account to send money in ZAR. Global EFT payments are seamless funds, especially when transferring funds to South Africa from around Africa and Europe.
Money Deposit via PayFast: Is It Safe?
Yes, it is safe to use PayFast to deposit or withdraw funds to and from online casinos. The payment system safeguards your bank account details because it only displays basic use information during transactions.
Alternatives to Instant EFT for Making Deposits at Online Casinos
While instant EFT casino South Africa is a popular payment option among South African gamblers, it is not the only popular banking method available at your fingertips. A few more popular SA depositing options are SiD Instant EFT and Easy EFT. Other notable banking methods are as follows:
EcoPayz, Neteller, and Skrill are popular e-wallets that you can use to move funds to and from online casino accounts in South Africa. The fees are negligible hence preferred by punters who want to save costs.
Debit/Credit Card Payments
Credit and debit cards are also great alternatives to instant EFT. With this option, processing times are much faster, and so are the significantly lower fees.
You can also opt for cryptocurrencies when funding your casino account or withdrawing winnings. Cryptocurrencies such as Bitcoin, Ethereum, Dogecoin, Litecoin, and Dash are increasingly becoming popular among punters because of reduced costs and processing times.
Depositing with Instant EFT FAQs
In What Countries Can I Use PayFast?
- PayFast is available internationally. You can use it in South Africa, the USA, and other countries by linking your Instant EFT account to a South African bank account.
Is Instant EFT Safe and Secure in South Africa?
- Yes, EFT has been billed as one of the most secure ways of transacting in South Africa. It is easy to deposit or withdraw funds from casino websites using Instant EFT.
Which Are the Recommended Instant EFT Casinos for South African Players?
- You can use the Instant EFT payment method on several online casinos in South Africa. Notable Instant EFT casino South Africa brands are FatBet, Casino Midas, ZAR casino, Dream Palace casino, and Hippozino.
Does Instant EFT by Payfast Charge Any Fees?
- Fees are only charged on withdrawals. Instant EFT online casino deposits are free.
Can I Make Rand Deposits/ Withdrawals Using Instant EFT by PayFast?
- Yes, to deposit in Rand in any PayFast casino South Africa, you should sign-up for a PayFast account and use Rand as the account currency. Transacting in the local currency (ZAR) is a great way to save costs on currency conversion.