Instant EFT Online Casinos

It is no secret that the online gambling industry is booming in South Africa, with players searching for the best payment methods to use for convenient transactions. Instant EFT is the most popular method across these sites since it offers instant deposits, something that players are desperately looking for. The solution is available across South African and global sites that accept players from the country, so should you choose to use it, you'll have plenty of sites to explore. What is Instant EFT and why use it as an online casino payment method?

About Instant EFT

Instant EFT is a payment method solution launched for the South African market that instantly verifies an EFT, a direct bank transfer, which was launched in 2007. The company behind it, PayFast, made sure to partner with the nine top South African banks, Absa, Ned Bank, Capitec Bank, African Bank, Standard Bank, Bidvest, Tymebank, Investec and FNB, in order to allow users to make inter-bank payments as smooth as possible. In fact, South African users can make transactions across these banks in an instant, because what this solution does it instantly verifies an electronic funds transfer. If you’ve ever made an EFT transfer, you know that it usually takes hours, days even, for the transaction to be completed, and proof of payments are required for verification. But with this solution, no documents are needed and the transactions are processed immediately.

Instant EFT is a patented solution, and a PCI DSS Level 1 Service provider, meaning it is completely safe to use. It uses top-notch security measures, and it has the South African banking system behind it, so you can rest assured that your money will be safe with it. Considering it collaborates with nine leading South African banks, you probably already have an account with one of them. So, you could essentially start using it right away and enjoy instantly processed transactions, regardless of whether you’re in South Africa at the moment of paying or beyond its borders.

On that note, regardless of whether you’re making a transaction locally or internationally, you will be able to avoid currency conversion fees, as the default currency with this solution is the South African rand. Considering any South African company which is regulated by the Reserve Bank of Africa, like PayFast, must only process transactions in South African rands. Therefore, this is another yet reason why you should consider using the solution.

But the biggest reason why you should consider it as your payment method across online casinos is that it is incredibly popular across South African sites. Players love it, due to obvious reasons, and so, most top operators are offering it. It is actually one of the most popularly used payment solutions since it allows South African players to make fee-free transactions with their own currency. Therefore, stay with us to learn how to get started with it and use it for instant deposits and convenient withdrawals.

How to Start Using Instant EFT

The first thing you should know about this solution is that the company behind it has ensured to launch many other products and services in addition to the EFT service. Once you enrol with it, you will see that Masterpass, SCode, Mobicred, SnapScan, debit cards, credit cards and Zapper are just some of the services and products it offers. You could use all of these if the casino you’ll join has integrated with PayFast’s system. But, since Instant EFT is the most popularly used product, and one you will find across casinos, let’s go through the details on how to get started with it.

We mentioned that the solution collaborates with the nine top South African banks, and you probably have an account with one of them. That, and the fact that you need to be a South African citizen, are the two prerequisites you need to meet in order to get started with it. In fact, you don’t even need to register a separate account or install/download a special software/program to use it. You’d just need to log into your online banking profile and you’ll see the solution available there.

To actually use it, you’d need to look for its logo on the site you’d want to use it. Even if the logo is not available, you can pick the online bank transfer option as your payment method. PayFast will safely redirect you to a secured page where you’ll need to enter your email or mobile phone number, select your bank and request a transaction via Instant EFT by specifying how much you’d like to send or receive. After you press the Pay button and confirm your transaction, you’ll soon receive a one-time PIN code in an authentication message from your bank on your email or mobile phone number. Enter the code in the designated field and your transaction will instantly be verified. You'll additionally get a notification informing you of the transaction status.

Depositing and Withdrawing with the Solution

As introduced, Instant EFT is quite a popular payment method across both South African casinos and international online casino sites accepting South African players. In fact, out of the more than 80 online eCommerce platforms offering it, most are online casinos. You can rest assured that you’ll have plenty of sites to explore to join the one that would suit you most.

Even though we basically explained the entire depositing process just now when we told you how to get started with it, it will do no harm to guide you through the actual depositing steps here as well. First, of course, you’d need to join a casino that accepts the solution. Once you do, to make a deposit, go through the following steps:

1. Head over to the casino’s Banking/Cashier/Deposits page.
2. Look for Instant EFT’s logo or select instant/online bank transfer.
3. You’ll be redirected to a new secure page by PayFast where you’d need to select your bank from the nine offered and log into your online banking profile.
4. Enter the amount you’d want to deposit and confirm the transaction.
5. After the PIN arrives on your email or phone, enter it in the designated field.
6. In an instant, the transaction will be verified by PayFast and delivered to your online casino balance!

While deposits with this solution are instantly verified and processed, withdrawals take a while. Quite a while, in fact, up to 12 business days. The waiting times depend on your bank and its rules. If you decide to still use it for withdrawals, you’d need to go through a similar procedure as the one described for depositing. However, if you decide to go with a different method for withdrawals (and we can’t blame you), you can always choose faster withdrawal methods, such as cryptocurrencies like Bitcoin or eWallets, which can actually match the depositing waiting times and offer instant withdrawals.

Coverage and Restrictions

When it comes to coverage, it is quite obvious that Instant EFT is a solution designed to cater to South African users and for the South African market only. Therefore, if you’re a player from any other country, you won’t be able to use its services.

As far as restrictions go, this is a solution that only South African citizens can use, which allows for transactions between nine banks and with South African rands.

Fees and Additional Charges

We said that Instant EFT is a fee-free solution, meaning it charges no fees whatsoever for using its services. You don’t need to pay currency conversion fees, no annual, monthly or registration fees apply, nada.

However, some casinos might charge a 2% fee for each deposit and a ZAR8.70 fee for withdrawals with it. Therefore, when choosing a casino to join, make sure you check whether any fees apply for choosing to transact with this solution.

Accepted Currencies

It was mentioned several times, but it is worth reinstating that the default currency when transacting with Instant EFT is the South African rand.

The solution is launched by a South African company regulated by the Reserve Bank of South Africa, therefore, it can only process South African rand transactions.

Customer Support

The solution offers a trained and friendly Customer Support team to attend to all your questions and problems you might have. The team is available on business days from 07:30 to 17:00 GMT+2, and from 09:00 to 15:00 during weekends. It is not available during public holidays.

They are available via PayFast’s phone line at +27 (0) 21 300 4455, the email address [email protected] and on social media. There’s also a useful Help Center page you can explore, and an on-site contact form you can fill out to send a query and wait for the team’s response.

Conclusion

If you’re a player from South Africa, have no doubts; Instant EFT is the solution that would provide you with everything you need, compared to any other methods offered to you across online casinos. Deposits with it are processed instantly, and you can use your own currency and avoid currency conversion fees, it is available across most, if not all, top South African casinos and it can be used for withdrawals. This brings us to the only downside, the fact that withdrawals are not instant and may take up to 12 days, but overall, this is a solution that would make your online gambling experience better than ever.

FAQs

Is there an official Instant EFT website?

While there’s no official website for the solution, PayFast has an entirely separate page for it that you can explore. Just go to PayFast’s official website, the Features tab, then Payment Methods, and choose Instant EFT. You’ll instantly be redirected to the page with all the info on the solution.

Is the website available in many languages?

Even though a solution made for the South African market, believe it or not, the website is not available in Zulu, Afrikaans or Tswana, for instance, but only in English.

Can I pay with the solution via my smartphone?

Sure, as long as you’re playing at an online casino compatible with mobile devices. If you can access the casino via a mobile device, you can rest assured that you’d be able to make a deposit via your smartphone with this solution.

Is there a mobile app to download?

No, because essentially, you won’t need an app to use it. You can always download your bank’s app, if available, and you’ll have access to PayFast’s services, Instant EFT included.

Is there any chance to use a different currency for a currency conversion fee?

No, this is not allowed by law. Only South African rands can be used since PayFast is a South African company regulated by the Reserve Bank of South Africa, which must process transactions with South African rands.