SiD Secure EFT Bank Transfers – Payment Method Info Page
Payment method: SiD Secure EFT
Payment type: Online banking payments, online banking transfers
Region/country: South Africa
SiD Secure EFT pros:
SiD Secure EFT cons:
RealGamblingSites.com overview – SiD Secure EFT bank transfers:
SiD Secure EFT provides Electronic Funds Transfer (EFT) services in South Africa via payment gateways that enable online payments and transfers directly between bank accounts. Simply choose SiD Secure EFT at online merchants, including gambling sites, to make payments through your banking portal using your standard online banking login information.
SiD Secure EFT Background
SiD Secure EFT launched in 2007 as the first online EFT payment solution in South Africa, and they claim to still be the market leader. SiD was developed by Setcom (Pty) Ltd, a South African payment processing company founded in 1998. MyGate, a member of Germany’s Wirecard Group, acquired Setcom’s credit card payment gateway business in 2017, and Direct Pay Online Group (DPO) acquired SiD in 2018.
DPO is a leading provider in Africa that offers credit card, mobile, e-wallet, and EFT payment services to over 25,000 online merchants. DPO holds a PCI DSS (Payment Card Industry Data Security Standard) Level 1 Certification in 12 countries, which means that the company processes over 6 million transactions a year and complies with strict data safety and security guidelines. SiD Instant EFT continues to do business under the SiD name after the acquisition.
Using SiD Secure EFT for online gambling deposits
The basic steps for making SiD payments are outlined below. Because SiD transactions are made through your online banking portal, the specific process will vary depending on your bank.
Steps for using SiD to make online gambling deposits:
Acceptance at online gambling sites
SiD Secure EFT is accepted at several gambling sites in South Africa and at a variety of global online casinos.
Acceptance for U.S. players
SiD provides payment services for players in South Africa only and is not available to U.S. players.
SiD Secure EFT provides an exceptionally convenient payment method for South African players. It is not necessary to register for an account or prefund an intermediary account, and SiD payments can be made via any device and platform. Simply select the SiD payment option on a merchant site and log in to your standard online banking platform to complete a transaction.
SiD is currently available to players in South Africa that hold a bank account at one of the major South African banks, including ABSA, Nedbank, First National Bank (FNB), Standard Bank, and Capitec.
Many online casinos in South Africa offer SiD as an available deposit and/or withdrawal method. SiD is also accepted at select gambling sites worldwide.
SiD does not charge consumers transaction fees, and most online betting sites do not charge fees for SiD deposits or withdrawals. Some banks may charge fees for online transfers, so be sure to check with your bank.
Safety / security
SiD boasts that they have not experienced any security breaches since they launched their EFT services in 2007. SiD Secure EFT provides exceptionally secure online payment options by enabling payments to be made through your own banking platform with bank-level security. Payments made through SiD require the same two-step authentication that banks in South Africa use for online transactions, including One-Time PIN (OTP) numbers, push notifications, and in-app authentication.
SiD does not save or store sensitive banking login information that is entered on the SiD gateway, and no bank account information is entered or shared with betting sites. The SiD website states that their gateway is independently monitored and verified to help ensure privacy and security, and it is verified by Trust Guard and GoDaddy. SiD also offers a protection guarantee for unauthorized payments.
Online gambling deposits made via SiD are available instantly, and withdrawal times vary depending on the betting site. Gambling sites usually provide estimated withdrawal times on their Payments/Banking pages, and many sites that accept SiD estimate a processing time of 48-72 hours.
SiD provides customer support via phone in South Africa (011 555 1101), online form, email (email@example.com), and chat. SiD also features an FAQ page on their site.
SiD acts as a payment gateway for your online banking platform, and your bank verifies your account and identity information when you log in and initiate transactions. SiD does not require anything other than bank verification.
Most online gambling sites don’t require additional verification for SiD deposits, but some may require verification for withdrawals. Verification requirements depend on the casino and may include a copy of your photo ID, proof of address, and/or a copy of a bank statement. Be sure to provide any verification requested by your casino promptly to avoid potential payment delays.
Online casino bonuses / casino-friendliness
SiD Secure EFT is a casino-friendly deposit and withdrawal method for players in South Africa, boasting instant deposits via secure online banking platforms.
Our team did not find any current bonus offers for SiD deposits. However, online betting sites usually list payment method bonus offers on the Promotions page along with other active bonuses and promotions.
If there are no bonuses offered for SiD payments, deposits made via SiD should count toward the deposit requirements for other bonuses and promotions. Payment method bonus offers may also be listed on the Banking/Deposit pages. Every bonus offer should have a Terms and Conditions link that specifies what the deposit and playthrough requirements are to cash in on that bonus.