EasyEFT may help with some of these challenges by routing payments between a bank and a casino. It supports deposits and withdrawals in ZAR, is described as processing transfers instantly, and does not charge its own transaction fee. If you are new to this casino payment method, read on for an overview of how it works.
How Does EFT Work?
EasyEFT, short for electronic funds transfer, acts as an intermediary connecting your bank to an online casino. You need an account with a participating bank that allows transfers through EasyEFT. Banks named include Standard Bank, Tymebank, First National Bank, and ABSA. You do not need an EasyEFT account to send a payment, though registering can help you view your transaction history.
Speed is one of EasyEFT’s key features. A casino deposit is expected to appear in your balance immediately. Withdrawals take longer because the casino must review and approve them before releasing the funds.
Security
The review points to acceptance by banks and financial institutions as a reason EasyEFT may be considered safe to use. It says EFT transfers generally use 128-bit SSL encryption, designed to make data intercepted between the payment provider, casino, and banks difficult to read. It also states that the casino does not receive your banking details, keeping them private from the casino.
Availability and Currencies
The review says EasyEFT is offered only at casinos in South Africa. It can be used for online shopping, sending money to others, and casino transactions. Since South Africa’s currency is the Rand (ZAR), EasyEFT payments are made only in ZAR.
Making a Deposit Using EFT
To fund a casino balance with EasyEFT, select it from the deposit methods. You will be redirected to the EasyEFT website to choose the bank account you want to pay from. Then enter your online banking credentials and authorize the transfer.
Once these steps are complete, the transferred amount should appear in your casino account.
Making a Withdrawal Using EFT
Cash-outs through EasyEFT use much the same process as deposits. Enter the amount you want to withdraw and select EasyEFT as the payment method. The service then opens its website and asks you to choose the bank account that will receive the transfer.
Casino withdrawal requests are not processed immediately because the operator must first carry out AML (Anti Money Laundering) and KYC (Know Your Customer) reviews. This review may sometimes take up to 3 banking days. After the casino approves a request, the payment is expected to arrive in the bank account within a few minutes.
Fees and Limits
EasyEFT does not charge a transaction fee, according to the review. Your bank may still charge for a payment made through the service, depending on its terms, so check with your bank before transferring.
EasyEFT does not impose transaction limits. Any limits set by your bank or casino still apply. Check the casino’s terms for minimum and maximum payment amounts; some operators also set weekly or monthly withdrawal caps.
Pros and Cons of EFT
For people in South Africa, EasyEFT’s stated advantages include being designed for the local market, having no provider fee, keeping banking details from the casino, and offering quick transfers. One convenience limitation noted in the review is that there is no mobile app.
Advantages
- Designed for South African users
- Keeps banking details from the casino
- Used by many casinos accepting players from South Africa
- Deposits reach the bank instantly
- No transaction limits set by EasyEFT
- Works with several participating banks
Disadvantages
- Available only to South African users
- Payments are limited to ZAR
- No mobile app
