SiD Wallet Online Casinos

Top 2 Casinos that offer SiD:

Introduction

Across the online gambling industry, South African casino players are often faced with issues when it comes to choosing a proper payment method to use, but with SiD, they are out of the woods. This is one of the most popular EFT solutions offered in the country, especially popular across online casinos. Compared to global methods offered which come with hefty fees for South African players, this solution offers some of the most inexpensive transactions, processed in players’ native currency. Therefore, if such a player in the search for the most amazing solution to use across South African online casinos, make sure you consider using it. Why choose to use SiD as an online casino payment method?

About SiD

A company founded back in 1998, called Setcom Pty Ltd, launched an EFT solution in 2007 that changed life for the better for many South African users. The solution was called SiD, and thanks to the company's two-decade-long experience on the financial scene, it became an instant hit the minute it launched. It offered South African businesses in times of need a convenient way to move money online, using the electronic fund transfer service.

The company knew exactly how many users and businesses in the country were in need of an innovative solution for online payments, so when it launched SiD, this was actually the first of its kind in South Africa, and remains to this day, the leading EFT service in the country.

This is an extremely user-friendly Electronic Funds Transfer service that allows users to make secure online transactions, and businesses to receive payments smoothly. It was designed with the shopping industry as the primary market, facilitating the online shopping experience for both users and businesses, but as it was so efficient and applicable to other industries, it expanded its market reach.

Today, it is used by all kinds of industries, thanks to the fact that it has partnered with leading banks in South Africa. Regardless if a user or a business, anyone could use it because they had an account with at least one of the participating banks. Its accessibility and convenience are what made it the number one EFT service in the country. Since transactions with it are as quick as they get and no long forms need to be filled out to initiate a transfer, you as a user, only need to choose a merchant site to pay at and your transaction will be on its way in no time.

That’s the main reason why, among the industries that have embraced the solution, you will also find the online gambling industry. Even though strictly controlled and monitored by the South African government, with complex and at times ambiguous rules, the online gambling industry in South Africa is thriving, and there are more and more new South African players joining casinos that accept players from the country. And, more and more of these sites start accepting SiD as a payment method, so you have no obstacles to give it a try. If that’s on your to-do list, continue reading to figure out what you need to do to get started with it.

Getting Started with It

It is probably clear to you by now that you need to be a South African citizen with a valid bank account with any of the leading banks to get started with SiD. On that note, the banks that offer the service include Tyme Bank, ABSA, First National Bank, Standard Bank, African Bank, Bidvest, Investec and Nedbank. You surely have an account with at least one of them; but even if you don’t, opening one would be extremely easy. Just visit any of the banks and ask the clerk to open an account for you. You’d need to provide some personal and financial details, as well as present an ID. As soon as you’ve provided the needed data, your account will instantly be ready to be used. Make sure you ask the desk clerk to activate your online banking profile, too, as you’ll need it.

As soon as your account is ready, you will instantly get access to the SiD service. You won't need to go through any additional registrations; as long as you are an active bank account holder, the service is provided by your bank, through Setcom. So, the only step left you need to go through is to find a proper online casino to join to start using the solution as your payment method.

Now, while on the casino site, you’ll need to log into your online banking profile, to easily request a transaction. Keep in mind that you’ll need to go through an authentication step before the money is actually sent. Depending on the bank you went with, an OTP code (One-Time PIN code) is sent by the bank that you need to confirm in the designated field to authenticate the transaction before it is sent. If you do all the right things, the money will arrive in your casino balance in no time.

On that note, let’s go over the depositing process next, so that you know exactly the steps you need to make to successfully fund your online gambling time.

How to Deposit at Online Casinos with SiD?

Even though, because there’s no actual registration procedure with the solution, we basically took you through the depositing procedure, we need to look closely at the extra steps from the moment you join a casino. On that note, you’ll get plenty of sites that accept South African players which offer the solution to choose from, there's no doubt about that. This is one of the leading payment solutions in the country, preferred by players over any other, so you'll definitely get the chance to explore several sites before you decide on the one to join. After you've found the one you'd like to join, register an account with it.

To make a deposit with SiD, do the following:

1. Head over to the casino’s Banking/Cashier page.
2. On the list of Deposit Methods, look for SiD’s logo and press it.
3. In the pop-up, search for your bank and select it.
4. Log into your online banking profile and request the amount you wish to deposit.
5. Wait for the OTP code to arrive and then enter it in the designated field to authenticate the transfer.
6. The money will arrive in your balance in no time.

Deposits with this solution are processed within minutes, so you can have your money on your balance immediately to start playing your favourite games.

How to Withdraw Winnings with It?

Unfortunately, however, SiD is not offered for withdrawals. Due to its nature, the solution was created to facilitate businesses’ ways of receiving payments, not for sending out ones.

Operators are not viable to send payments with it, and consequently, you cannot cash out your winnings with it. You should maybe consider some eWallet at this point as an alternative to successfully withdraw any winnings you made. 

Fees and Limits

No fees apply when using SiD on Setcom's part. The company does not charge fees for its intermediary service, so when using it for your deposit method, you won't be charged an R1 extra.

Keep in mind, though, that banks will charge regular transaction-related fees, as they normally do, based on their policies. The good thing is, the casinos won’t charge you for making deposits with it. Operators are charged a fee for each transaction they receive, and that’s why many choose to avoid offering it to players, to stir clear from extra costs.

Allowed Countries

As you would assume, you can only use SiD if you’re a South African citizen with an active bank account with one of the participating banks.

So, as a South African player, you have no obstacles to using it; you’ll get access to this premium service to make seamless deposits in your native currency, as long as you have an active bank account.

Available Currencies

Since the solution is only available to South African users, it goes without saying that the South African rand is the default currency when using it.

Of course, in case you have a foreign currency account with one of the participating banks, you could use that one as well, for a currency conversion fee. You could use the Australian dollar, the UK pound, the euro, the US dollar, or any currency that you might hold on an account with one of the participating banks.

Helpful links:

• SiD official website
• About the company
• Help page