It’s a fact of life that different markets have different needs. That’s why, despite the dominance of bank cards and e-wallets, many local payment methods continue to thrive in their respective countries.
A great example of this is EasyEFT, a company widely used by South Africans. By exclusively catering to one country, the payment method offers a more convenient way to deposit and withdraw funds than its competitors.
What is EasyEFT?
EasyEFT is a secure payment gateway giving users access to many of South Africa’s top banks. It serves as an intermediary between players and casinos, providing an extra layer of security to each transaction. Furthermore, EasyEFT offers faster transaction times than traditional wire transfers, making it a superior product in every way.
The service is only available to South African users and shows no signs of expanding into other regions. Instead, the company is focused on integrating its service with every South African bank and improving its product.
EasyEFT can be used for online gambling
EasyEFT Account
The company does not require users to have an account to use its service. However, you can still register an EasyEFT account to keep track of your deposits and withdrawals. The only requirement to use EasyEFT is to have a bank account with a positive balance in one of the partnered banks.
Company
Despite only servicing South African customers, the company is actually registered in Mauritius. There’s little information about the company itself. That said, the fact many of the country’s leading banks are willing to work with it speaks volumes about its trustworthiness. Some banks EasyEFT works with include Standard Bank, First National Bank, Nedbank, Capitec, ABSA, etc.
Facts
Payment Type
Payment Gateway
Headquarters
Mauritius
Fees
No
Pros
Extra secure
No fees for customers
Funds are transferred directly to your bank balance
Cons
Your bank can see casino transactions
Only open to South Africans
How to Deposit with EasyEFT?
EasyEFT deposits are as easy as can be. Pick an online casino that supports the banking option and register an account. After setting it up, go to the cashier page and pick EasyEFT as your payment method. You’ll be forwarded to EasyEFT’s payment gateway, where you’ll find your bank and approve the transaction.
How to Withdraw with EasyEFT?
To cash out with EasyEFT, go to the casino’s banking page and open the withdrawal section. From there, you select EasyEFT and type in how much you want to cash out. From there, follow the instructions on-screen to complete the transaction.
While you can register an EasyEFT account, it is far from mandatory. However, you need an account in a participating bank to be able to use the service.
The company does not charge end-users any fees for using EasyEFT.
Transfer Times and Fees
The greatest upside to EasyEFT compared to standard bank transfers are faster deposit and withdrawal times. Funds deposited by EasyEFT will immediately become available in your casino balance. Cashing out with this online payment method takes between 48 and 72 hours, depending on the gambling site.
EasyEFT does not charge you any fees directly. However, some banks may require you to pay extra to use the service.
Security
The payment gateway must meet strict security requirements to cooperate with banks. Thanks to that, you can rest assured EasyEFT is safe to use.