SID Instant EFT
SID Instant EFT is an electronic funds transfer system that is ideally suited to the needs of online casino players from South Africa. Supporting a wide range of payment and deposit transactions, SID Instant EFT is a feasible alternative for players who do not have access to a credit card or would prefer not to use one at online gambling sites. The service essentially transfers funds to and from a player’s bank account by way of existing online banking services.
Top South African SID Instant EFT Casinos
Overview
SID is owned and managed by Setcom (Pty) Ltd, which was established in 1998. Setcom has extensive experience in the online payment processing industry, and its expertise in providing a totally secure and flexible payment experience is a large part of SID’s reputability. With SID’s affiliation with Setcom, SID users are able to take advantage of an enterprise-class payment infrastructure.
SID Instant EFT was launched in 2007 with the goal of providing the public with a secure payment system that facilitates real-time online payments to a wide range of ecommerce merchants, including online casino sites. With every aspect of SID’s service, the ultimate aim to enable people to buy and sell anywhere, at any time.
Why South African online casino players prefer SID Instant EFT:
No credit card required. SID makes it possible for players to perform cash transactions at supported online casinos and other merchant sites even without a credit card. This also provides an added measure of protection for bank and personal information.
Easy payment process. SID automatically populates payment forms with the correct transaction details. This not only speeds up the process of making payments, but reduces the risk of errors as well.
SID is fully mobile-capable. SID is compatible with most mobile devices on the market. This means that players can fund their online casino accounts from anywhere.
No registration is required. SID enables players to make payments directly from their online banking service, with no registration or approval process necessary.
Players receive instant payment confirmation. Players will receive instant payment conformation from the online casino without having to send proof payment or waiting for approval.
Using SID Instant EFT in South Africa
SID is supported by hundreds of ecommerce merchants in South Africa, as well as several online casinos based in South Africa and from around the world. The process of depositing and withdrawing funds into an online casino account is as simple and straightforward as could be:
- Players choose SID as a payment option from the online casino of their choice
- SID directs players to their secure internet banking service
- SID fills up the payment details as needed
- The players is directed back to the online casino site
- Player receives payment confirmation immediately
SID Instant EFT works equally well from computers and mobile devices. This makes it an especially suitable payment option for South Africa, where as many as one in four online customers opt to perform transactions via mobile devices.
How to Fund Your SID Instant EFT Account
SID may be linked to one or more bank accounts for funding. When performing any payment transaction–such as making a deposit at an online casino, for example–the funds for the transaction will be drawn from the bank account that the user specifies.
When using SID for the first time, users will first have to run the SID application. Afterwards, players will usually be able to simply select the SID option when making a payment at an online casino. The process is fast and seamless, and there is no need to provide bank or other personal information the online casino. Players will also find the funds credited directly to their online casino accounts without having to send proof of payment.
How to Deposit Using SID Instant EFT
South African players can directly deposit funds into their online casino accounts via SID Instant EFT. In most cases, no banking or payment information will be required from the online casino, as SID automatically provides the payment details.
Depositing funds into an online casino account via SID Instant EFT usually entails five steps:
- Select SID as a payment method at the online casino.
- Select your bank.
- information be accessible to SID or any other party.
- If you have more than one bank account linked to SID, you will be given the option to select the bank account from which the funds will be drawn at this point.
- Complete the payment process by entering the one-time PIN provided by your bank. Alternatively, you may also respond to a push message provided by your bank.
After completing the payment transaction, you will be redirected to the online casino site. In most cases, the casino in question will receive instant payment confirmation, so there is no need to send proof of payment via fax or email.
How to Withdraw Using SID Instant EFT
SID can be used not only for depositing funds into an online casino account, but also for withdrawing winnings and cash bonuses. Online casinos that support SID Instant EFT will provide an option for withdrawing funds into your bank account via SID. It usually takes two days for the funds to appear in your bank account after the withdrawal request is made.
SID Instant EFT Costs and Timing
SID offers the lowest instant EFT transactions fees in South Africa, and is one of the few services that don’t charge expensive fees for Internet merchant transactions. Accounts are priced at a very reasonable R250 per month, with R250 charged for initial setup. There is also a nominal 1.5% fee for every transaction.
The set-up fee is required for activation and implementation of SID’s ecommerce service. Monthly subscription fees will be billed in advance. Transaction fees on the other hand are billed during the billing period after the transaction takes place. Transactions performed via SID do not entail additional merchant or acquiring fees payable to the banks.