Online Casino Banking SA: Choose How to Deposit | Expert Tips 2018
One of the most crucial factors that one should consider as a South African online casino gambler, is finding the right online payment system for your needs. With more and more top international online casino brands opening their virtual doors to South African gamblers, the sheer number of options is becoming somewhat overwhelming. There are Visa and MasterCard credit and debit card options to consider, the latest and most trusted e-wallets, prepaid card options, bank transfers and much more.
While not all of these myriad of payment options are actually available to the South African online casino market just yet, there are enough for us to require a solid, in-depth guide to the best online payment options for SA. Here our experts delve into the ins and outs of each top online payment option for SA online casinos, showing you the pros and cons of each option. We break down how each option works, based on its benefits, pricing plans, support and availability.
Top Banking Options Comparison for SA
No matter your personal preference our top online casinos for South Africa are able to offer a wide range of safe and secure, efficient online payment options. While many prefer the surety and convenience of Visa and MasterCard, not all online casinos will allow you to use these for withdrawals (particularly MasterCard). It is therefore advisable to experiment as much as possible, trying out several different options such as e-wallets and prepaid cards, before making your final decision.
Top-3 Casino list by Banking Options Availability
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Banking Options Reviews
Credit Cards: Visa, MasterCard
Credit cards are among the most popular of all online casino payment options and virtually every top SA online casino will accept them or offer their services. There are two main types of credit card that can be used by South African online casino gamers, Visa or MasterCard. Both have been in circulation for many years and both offer more or less the same advantages. However, it is important to note that not all online casinos will allow you to withdraw to your credit card. While depositing your funds via your credit card to your online casino account is instant, withdrawing your winning can possibly take up to five days to reflect in your bank.
Skrill is a name that is recognised all over the world and is a massively popular online payment option for online casinos. Skrill is available at all leading SA online casinos and offers fast, convenient, and secure e-wallet transactions with little to no fees involved. Skrill used to be called Moneybookers until their rebranding in 2011 so if you see Moneybookers on offer at your favourite SA online casino instead of Skrill, don’t be alarmed, they are the same thing. Skrill offers instant deposits (in most cases) as well as fast withdrawals, usually completed in under 24 hours although sometimes it can take up to 48 hours to reflect.
Neteller is one of the most user-friendly of all online payment options available at top SA online casinos. Signing up for a Neteller account is quick and easy and you will be up and rolling within in a few minutes. Neteller offers instant deposits into your online casino account, as well as fast payouts of between 24 and 48 hours. Neteller is part of the PaySafe Group (the guys behind PaySafeCard) and the brand itself has been around since 1999, making them one of the oldest online payment options with a long, trustworthy, and very trackable track record.
EuTeller is slightly more unusual as an SA online casino payment option and not all online casinos will offer this service. However, EuTeller is very popular throughout the world and offers more or less the same sort of e-wallet services as other leading brands such as Skrill and Neteller. Setting up a secure EuTeller account is very straightforward and the brand offer full and comprehensive support in case you get stuck during the process. You can fund your SA online casino account from your EuTeller e-wallet within a few seconds, and can expect to see your withdrawals reflecting within 48 hours or less.
PayPal is without a doubt the most famous and popular online e-wallet payment system of them all. Known the world over, PayPal can be used for a variety of internet-based purposes, including fast and secure payments at thousands of online retail stores such as eBay and Amazon, quick and secure transfers of funds between PayPal accounts and much more. In South Africa, PayPal is linked to FNB banking which means that you will need to set up your personal PayPal account online and then link it to your FNB account in order to upload funds to it. However, once completed fund should appear in your PayPal account within a few minutes. Payments to your SA online casino account are instant, while withdrawals rarely take longer than 24 hours to reflect in your PayPal account.
EntroPay is somewhat different to the pure e-wallets that we’ve listed and described above. For one thing, EntroPay is a prepaid card and is similar in many ways to your regular Visa or MasterCard debit card and works along the same lines. However, with EntroPay, you fund your online prepaid card from your regular bank account and can use it as a virtual debit card. One of the biggest benefits and features of EntroPay, is that it allows you to create an unlimited number of virtual debit cards.
EcoPayz is part of a larger online payment platform or system which includes ecoCard, ecoAccount, and ecoVirtualCard. This gives you the best of both worlds as you can access both e-wallet features and benefits, as well as those of a prepaid card. EcoCard works in exactly the same way as any other debit card and you can use your ecoCard both in virtual sense as well as in the real world. On the other hand, ecoPayz works in the same way as many other popular online e-wallets, offering the same benefits and features found in these. Generally speaking, deposits made with ecoPayz/ecoCard reflect immediately in your SA online casino account, while withdrawals rarely take longer than 48 hours to reflect.
PaySafeCard is arguably the world leader in secure online prepaid payment options and is used for fast, convenient and safe online purchases all over the world. PaySafeCard works on a unique PIN-enabled voucher system which can be purchased at any one of the more than 600 000 PaySafeCard outlets worldwide. The system is extremely simple to use and requires the user to simply purchase a voucher which is preloaded with certain specific values.
The only real downside to PaySafeCard is that it cannot be used to make withdrawals (since it is voucher-based), so you would need to use another method such as e-wallet or debit card.
Online Casino Banking Pros and Cons
Now that you have a better understanding of what online payment options are available for funding your SA online casino account, let’s take a look at some of the pros and cons that are associated with these main online payment types:
- Extremely convenient online payment option
- Plenty of online e-wallet systems to choose from
- Lightning fast deposits using your e-wallet
- Withdrawals (winnings payouts) are available in 48 hours or (usually) less
- Extremely safe to use as there is no need to divulge your personal banking details to third parties (like online casinos)
- While most e-wallets offer reasonable fees, some are more expensive than others
- Not all e-wallet brands are available in South Africa yet
- Not all e-wallets will allow you to use your preferred currency such as ZAR and you may need to convert to either USD, GBP (UK pounds), or EUR (euros), before being able to fund your e-wallet
Credit Card Banking
- Convenient and safe to use
- Funds reflect instantly (in your SA online casino account)
- Recognised all over the world
- Tons of security measures makes it one of the safest options
- Can generate rewards and other benefits
- Can take up to 5 days to reflect in your account
- Requires application and credit approval
- More difficult to get than debit cards
- Bank transfers are quick and convenient
- Safe method of transferring funds
- Funds are transferred from one secure account to another
- Payments (withdrawals) can take longer than other methods such as e-wallets
- Funds can be difficult to recover in the event of fraud
- Spend only what you load to your prepaid/debit card
- Great for bankroll management
- Safe, convenient and easy to use
- No need for credit checks or application forms
- Excellent fraud protection included
- Easy to run out of funds, which then need to be reloaded
- Fees are often higher than other methods such as e-wallets
- Not as safe as credit cards (if stolen)