How to Withdraw from Betfred in South Africa? Our 2024 May Complete Guide

24 May 2024

When you try to withdraw from an online betting site in South Africa, it’s crucial that you follow the Betfred withdrawal rules. Otherwise, you risk losing the money from your account. This is our guide to Betfred withdrawal process from the country. We plan on exploring all the areas you should know about.

  1. R5 000 First Deposit Match
    18+. Roll over five times at odds of 1/1 or better before they can be transferred to main wallet. Can be used to place bets on multiples, provided each leg of the multiple is at odds of 1/4 or better. T&Cs apply Full T&Cs

How Do I Make a Withdrawal with Betfred in South Africa?

Learning how to withdraw from Betfred is not rocket science. Pretty much all online gambling sites follow the same criteria for real money withdrawals. In this section, let us take you through the exact steps you need to perform for a successful Betfred withdrawal process.

The best thing is that it doesn’t matter whether you use the Betfred app or the desktop platform.

  1. As you’re looking into how to withdraw from Betfred, you already have an account. If not, please complete the Betfred registration process and the Betfred deposit process first.
    Betfred Registration
  2. Go to your account balance and see if you have any outstanding wagering requirements or not.
  3. Verify your account with FICA documents. There are detailed instructions on the website on how to do it. You’ll need to submit copies of your valid ID/passport/driver’s licence, a copy of a recent utility bill as proof of residence, and a copy of the payment method.
  4. Then, go to the withdrawal section of your account. Choose the method you want to use. Ideally, it’s the same method you used for the deposit.
  5. Enter the amount you would like to withdraw. Allow up to 48 hours for Betfred withdrawal process to complete.
  6. If you don’t receive confirmation within that period, contact customer support.
  7. The rest of the time for you to receive the payment will depend on what method you choose. Online bank transfers typically take up to 72 hours in South Africa to be processed.

What Are the Different Ways to Withdraw from Betfred in South Africa?

Betfred South Africa has quite a few options for withdrawal. You can see the entire array of methods listed in the footer section of the website. Let’s explore them individually to give you a better idea of how to withdraw from Betfred South Africa.

Betfred Withdrawal

Visa/Mastercard

Well, Visa and Mastercard are methods everyone knows about, all over the world. These are excellent for a Betfred deposit but not so much for withdrawals. Not all banks allow withdrawals through bank cards. Even if you can manage to use Visa cards for the Betfred withdrawal process, chances are high that you won’t be with Mastercard.

EFT

If you use bank transfers regularly, you may already know that EFT is. EFT stands for Electronic Funds Transfer, an online banking protocol popular across the world. All standard bank transfers go through the EFT protocol.

Usually, banks don’t engage in gambling transactions directly. But South Africa is slightly different in the sense that online gambling is a regulated activity. So, there is no legal trouble for banks to do so.

EFT remains one of the best Betfred withdrawal methods in our opinion. There are no additional fees and you can rest assured that the money will come. The only drawback is that it takes around 72 hours to complete.

In-Store Withdrawals

By “store”, we’re referring to physical betting shops Betfred has all over the country. At the time of writing this how to withdraw from Betfred guide, the branches are located at:

  • Bedfordview.
  • Bloed Street.
  • Bree Street.
  • Church Street.
  • Evaton.
  • Hammanskraal.
  • Ghandi Square.
  • Hillbrow.
  • Hoek Street.
  • Laudium.
  • Mabopane.
  • Mamelodi.
  • Soshanguve.
  • Soweto.
  • Sunnyside.
  • Tembisa.
  • Tembisa (Ebony Park).
  • Vereeniging.

You’re free to walk into any of these physical shops and use it as one of the Betfred withdrawal options for your online betting account. The biggest benefit here is that you don’t have to wait for the usual pending period to get your hands on the money and don’t have to pay any of the Betfred withdrawal fees.

FNB E-Wallet

FNB or the First National Bank is the most trusted bank in South Africa. It also happens to be the most used bettor in the country. If you have an account at this bank, you can use the FNB e-wallet using your phone number only.

Or, it can go the other way, You provide your phone number to Betfred South Africa and you receive money in your e-wallet based on the number. It’s fast and safe but there is a small fee of R2. It has a limit of up to R15,000 should be more than enough for most punters.

Ozow Bank Transfer

Ozow is a very popular online payment solution in South Africa. It’s mostly a B2B solution that helps connect businesses better with customers. The majority of online betting sites in the country accept Ozow. Betfred is no different.

To use Ozow as one of the Betfred withdrawal methods, you must choose it from the withdrawal menu. Then, you need to choose your bank from the list. If you don’t see your bank, it means you can’t use this method to figure out Betfred withdrawal options.

Withdrawal MethodsAverage Processing TimeWithdrawal Limit
Visa/Mastercard72 hoursNot Stated
EFT24 hoursNot Stated
In-Store WithdrawalsInstantNot Stated
FNB E-WalletInstantNot Stated
Ozow Bank Transfer72 hoursNot Stated

The Betfred Withdrawal – Restrictions and Conditions

As we mentioned in the very beginning, withdrawing from an online betting site requires you to follow a strict set of Betfred withdrawal rules to be successful. You can also think of them as restrictions. There are quite a few of them when you look at Betfred withdrawal options.

FICA Verification

In South Africa, there is no way around FICA verification. The rest of the world knows it as KYC (know your customer) verification. Betfred withdrawal process cannot be initiated if your FICA verification is not complete.

FICA Verification

Wagering Requirements

Well, this is more of a warning than a restriction and is one of the most common Betfred withdrawal problems. If you have any active bonuses with wagering requirements, you will lose the bonus if you try to withdraw. If you’re okay with losing the bonus, this is not a restriction for your Betfred withdrawal options.

Registered Payment Method

You already know the available Betfred withdrawal methods in South Africa. You can use any of them as long as they’re registered in your name. Yes, the name of the method’s owner and the name on your FICA documents must match. Otherwise, you’ll face Betfred withdrawal problems.

To Conclude – The Betfred Withdrawal in South Africa

We surely hope that you now have an idea of how to withdraw from Betfred South Africa. We’ve tried our best to include as much data as possible to educate you on the matter. We’ve discussed the potential Betfred withdrawal fees, the Betfred withdrawal rules you must stick to, and even the problems you may face.

If you’re interested to learn more about this operator, be sure to read our Betfred review.

Betfred Withdrawal – FAQs

The available online payment methods at Betfred South Africa are Visa, Mastercard, EFT, in-store Betfred withdrawal, and Ozow bank transfers.

According to the withdrawal policy, Betfred withdrawal time can take up to 2 working days or 48 hours for the operator to process your withdrawals.

You’d be glad to know that there are no additional fees for withdrawals at Betfred South Africa. You only have to pay the usual fees associated with the payment method you use.

Yes, it is necessary for all customers to verify their identity via FICA documents before using any of the Betfred withdrawal options. It’s a requirement by the government for all online betting sites.

Yes, you can withdraw bonus funds on Betfred as long as you complete the terms and conditions. The biggest aspect of any bonus is the wagering requirements. Refer to the Betfred Promo Code to know all the requirements.