BANKING IN AFRICA
DEPOSIT METHODS AND WITHDRAWALS IN AFRICA
When it comes to online sports betting in Africa, we know that being able to make fast, secure online and mobile payments is an absolute must. Funding your account and making withdrawals is something that is going to happen on a fairly regular basis, so it is vital that you choose a method that meets your specific needs. African Betting Guide is here to help you with this.
While Africa is still finding its feet with advanced online payment systems, there are still plenty of options to choose from at the top-rated bookmakers. The key is to find a payment method that works for you and offers the security you want.
Take a look at the most popular online and mobile payment methods and see what will work for you:
MOBILE PAYMENTS IN AFRICA
Mobile payments have become incredibly popular in Africa, as they are low cost and easy to access. As so many of us have mobile phones, making a payment using our cellphone is now the norm. Mobile money makes betting online easy, and most African countries have a range of mobile banking options, including MTN Mobile Money, Vodacom Mobile, and Airtel. This type of payment option is fully secure and incredibly convenient. It only takes a minute or two to set up a transfer, and funds are moved quickly and easily across.
MTN Mobile Money and Vodacom Mobile both allow for you to move money quickly, and these systems only require that you have the relevant funds available in your account or airtime balance. You just need to enter the correct USD code, follow the prompts and enter your PIN. Airtel is also an excellent choice if you want to move money on your mobile and don’t want to stress about exchange rates or conversions. All of this is done automatically, and all you need is your mPIN to complete a transfer successfully.
Mobile payments are very much the way forward in Africa, and as the continent is so large, you only need your phone to transact. There is no need to have a credit or debit card, or even your own bank account – everything you need is in the palm of your hand.
VISA AND MASTERCARD
Credit card payments are one of the most convenient ways to pay online. Paying by credit card is as simple as entering your card details, deciding how much you want to deposit and confirming your transaction. At some bookmakers, you can even withdraw your winnings directly into your credit card account.
For those who do not have a credit card or prefer to use Internet banking, paying by EFT is a viable deposit method. This can be done through the bank, via Airtel, or online using your Internet banking facility. All you need is the account number of the sportsbook, which can be found in the cashier section. It is important to note that generally, EFT’s take 5 to 7 working days for the funds to reflect in your betting account.
Another popular deposit method in Africa is paying via ATM using your bank card. This is especially handy for people in rural areas where Internet access is limited. It is the same concept as an EFT, except in this case you can either transfer the funds from your bank account or deposit cash into the ATM and send it to the betting account.
Web wallets don’t require a bank card or a bank account and are simple to sign up for and to use. With e-wallets like Skrill, Neteller or PayPal you must sign up with a web-wallet site, and transfer funds into your web wallet account. You can then use your web-wallet account to make multiple online or mobile payments at top-rated betting sites. The best part about web-wallets is that both deposits and withdrawals are instantaneous.
OTHER PAYMENTS OPTIONS IN AFRICA
While not as prolific in Africa, many overseas betting sites accept cryptocurrency such as Bitcoin. For those who do have Bitcoin, this method is both fast and secure. Paying by Bitcoin requires using a Bitcoin wallet to transfer the funds.
Another payment option that is gaining ground in Africa is the prepaid card. These can either be virtual or plastic bank cards that must be topped up before use. They work like credit cards but do not have any credit facility. Vouchers can also be used, and these are also issued digitally, or at a shop.
It is important to note that the deposit and withdrawal options offered at online betting sites will differ from African country to country, and site to site. While some bookmakers accept Airtel and bank card payments, others will offer EFT and mobile banking. The larger sites will offer web-wallet payments and withdrawal facilities, while many of the newer sites stick to the tried and tested credit card deposits with withdrawals done through your personal bank account.
Depositing and withdrawing at top African-friendly sportsbooks should be easy and safe, and if you use tried and trusted deposit methods, you can bet with confidence. African Betting Guide gives you a helping hand here and sets you on your way to big wins.