MyEFT Online Casinos

Introduction

Given the lack of local options for deposits and withdrawals across international online casinos, South African players always turn to MyEFT, the electronic funds transfer service that allows them to transact using their native currency, the South African rand. And precisely due to the lack of other options, this solution is offered practically across all online casinos that cater to South African players. It is popular among players, too, and that’s the reason why you should consider giving it a try. Before you do, though, make sure you stay with us to learn more about it. What is MyEFT and why select it as your payment method at a South African online casino?

About MyEFT

If you’re our frequent reader, you know that we are always on the lookout for the best payment methods offered across online casinos to players from specific countries. And if you’re a player from South Africa, you know how popular MyEFT is in your country. Although there’s not that much information on it across the internet, this is a local electronic funds transfer service that is used by South Africans left and right, on a daily basis. It is one of the top solutions that process transactions swiftly and conveniently, and in your native currency, the South African rand.

This is the solution you need to use in case you wish to transact via your bank account, to move your funds across the internet effortlessly. On that note, to be eligible to use it, all you need is to be a citizen of South Africa, of course, and have a bank account. An account with any major South African bank would do, as most of them are offering the service. We can mention Standard Bank, First National Bank, ABSA, Nedbank, and Capitec Bank, among others. And since all you need is a bank account, you don't need to have your credit card details shared among operators to make online gambling transactions; with this solution, by only using your bank account, you can send and receive funds to and from whomever you wish.

The best part is, that it is incredibly easy to get started with and use. You can request transactions with it via your mobile or desktop device, just by logging into your online banking profile. That’s right, you need to create no new accounts and go through no further registration procedures. As long as you have your online banking profile up and running and the required banking details of the recipient ready, you can send money anywhere across the globe, regardless of where the casino is based. Add to this the fact that it is unbelievably safe, considering transactions with it go through the local banking system, and there you have it: the ideal payment solution to use for seamless online banking.

Now that you know all of this, it should come as no surprise to you to learn that the solution is one of the top, most preferred among players and operators that cater to South African players alike. You will find it across most, if not all, South African casinos, so if you’re eager to start using it, continue reading to figure out how.

How to Start Using MyEFT

We said that you won’t need to create any new accounts to start using MyEFT, but you just need to log into your online banking profile to request a transaction. That being said, you need to meet two conditions: one, to be a South African citizen, and two, to have a bank account with any of the leading South African banks that offer its service. Assuming you do, that’s all you need to get started with it, but even if you don’t have a bank account, and you are a South African citizen, you’re still on the right path.

All you'd need to do is go to any major South African bank and ask the desk clerk to open an account in your name. The desk clerk will also give you the credentials for your online banking profile so that you can make online transactions via the respective bank account and, by default, use the MyEFT service. To open the bank account and get your online banking credentials, you’d only need to provide some basic personal details and a government-issued ID document, and that would be it. 

Now that you’ve got that covered, it’s time to learn the steps you’d need to take to request a transaction via the electronic funds transfer service. So, the first thing to do is to log into your online banking profile, using any device, and then locate the MyEFT button. Press it and enter the amount you wish to send, as well as the recipient’s banking details. If you don’t have the operator’s details, make sure you get in touch with its Support team to get the exact information. The minute you confirm the transaction, the funds will immediately arrive on your casino balance and you can start playing whichever games you had planned.

As a side note, we should mention that if your bank offers an app and you have it downloaded on your device, you can still use the service via the app. That’s it, really, that’s how easy the solution is to use. So, let’s go over the exact steps you’d need to take to request deposits and withdrawals with it across the many South African casinos that offer it.

Depositing and Withdrawing with the Solution

Even though the South African opposition presented a bill to regulate online gambling, the situation with the industry in the country is still uncertain. On that end, you can’t still find legal, licensed South African casinos, but you can join international online casino sites as a player from the country. And hundreds of sites cater to South African players, most of which accept MyEFT as an option for deposits and withdrawals.

So, your first task is selecting a casino to join. Your second task is registering an account with that casino. And finally, your third task is making your first deposit with MyEFT. To do that, go through the following steps:

1. Log into your registered casino player account and find the Banking/Payment Methods page.
2. Look for MyEFT’s logo in the Deposits section and select it.
3. A new page will appear with the partnered banks; choose the bank you have an account with.
4. You’ll be redirected to the login page at your bank, where you need to enter your credentials to access your online banking profile.
5. Select MyEFT, and enter the needed banking details as explained earlier.
6. Specify how much you want to send.
7. Confirm the transfer and the funds will immediately be transferred to your casino balance.

Deposits with the solution are truly instant, but sadly, withdrawals are far from. In fact, they can take up to 10 working days to arrive safely in your bank account. It all depends on the banks involved and other factors, but you should be prepared for the delay. However, since there are not that many local options South African players can use across international casinos for cashouts, they prefer waiting and still using this solution for their withdrawals.

Of course, if you don’t want to wait as long, you can always choose an eWallet or some other alternative payment solution to cash out your winnings and no one will judge. It is important here to know that withdrawals with MyEFT are an option and requested pretty much the same way as deposits.

Coverage and Restrictions

It goes without saying, having read what you have, that MyEFT is an electronic funds transfer service offered in South Africa only. It functions through the banking system in the country, in collaboration with leading banks, and you must be a South African citizen in order to use it.

This means that unless you are, you’d need to look for other EFT services, available in your country, as this one won’t be at your disposal.

Fees and Additional Charges

We cannot sugarcoat the fact that there will be fees when using this solution, even though not charged on its part. It was designed with the aim to facilitate online transactions for South African users and make them as cost-efficient as possible, so no maintenance, registration, or transaction fees would be charged on its part.

The banks involved, however, will charge fees, for sure. So, before you request a transaction via the solution, you better get in touch with a representative at your bank to figure out the fees involved.

Accepted Currencies

The South African rand is the only currency you can use when using MyEFT. You won’t be able to transact in any foreign currency and that’s final, not even if you’re holding an account in a foreign currency, not even at the cost of a conversion fee.

On that note, though, if you’re frequenting a casino that accepts rands, you’re looking at a completely conversion-fee-free experience with this payment solution. Yay!

Customer Support

Given the fact that this is a service and not a standalone product, it does not offer Customer Support on its own.

You would need to get in touch with your bank's or your online casino's Support team in order to get the assistance you need when you come across an issue with this solution. But luckily, their teams are usually available via phone, Live Chat, email, and even social media, so you'll probably get the answers you need fast.

Conclusion

There’s no doubt that MyEFT is one of the most convenient payment methods to use as a South African player across international online casinos. Make sure you give it a go and you will quickly realize how much you’ve been missing out on until now, as this is truly one of the most amazing local payment solutions you’ll find across the online gambling industry.

FAQs

Is there any website I could visit to find out more about MyEFT?

No. Once again, this is not a product but a service offered by South African banks, designed to serve South Africans in the best way possible. So, if you wish to find out more about it, make sure you visit your bank or call its Support team, and the bank’s agents will surely give you all the answers you need.

Must I download an app in order to use the solution?

No, not really, no. We mentioned that you could download your bank’s app, but only if you wish, and only if the bank offers one. It is certainly not mandatory, and you can use the solution via any browser, on any device.

Can I use any mobile device to use MyEFT for deposits across South African online casinos?

Sure thing. Regardless of whether your device runs on iOS or Android, regardless of whether it is a tablet or a smartphone, as long as you can log into your online banking profile via it, you can use the service whenever you want, wherever you are.

Why can’t I use foreign currencies when transacting with the solution?

This is a solution offered by South African banks and regulated by the Reserve Bank of South Africa, therefore, it must process transactions in South African rands only. That’s the reason why foreign currencies are not an option, not even at the cost of a conversion fee. 

How do I know whether my MyEFT withdrawal can arrive sooner than expected?

You would need to consult with your bank. The 24 to 48-hour wait on the operator's part is mandatory, so do not expect the withdrawal to arrive any sooner than that. Once the operator gives the approval, it all depends on your bank, so you better talk to a representative at the bank to find out more about the waiting times.