The Betfred withdrawal process is seamless if you follow all the steps in this guide. Our experts have created this review to help you understand the following:
- How to withdraw from Betfred,
- The various Betfred withdrawal methods,
- How to solve the common withdrawal problems on Betfred.
How Do I Make a Withdrawal with Betfred in South Africa?
We tested the various payment methods on the betting site and discovered that they are all easy to use. Removing your money from Betfred is straightforward as long as you’ve won your bets or met the wagering requirements of bonus offers. You may follow the steps below:
- Visit the Betfred website on your computer. You may also use your mobile phone by accessing the betting site from your browser since there is no Betfred app yet.
- Log into your Betfred account to begin the withdrawal process.
- Tap on the ‘Account' icon and select ‘Withdrawal' from the list of options.
- Select any of the Betfred withdrawal methods available.
- Indicate the amount you want to withdraw and any other required information.
- Finalise your withdrawal process by tapping on ‘Withdraw,’ and the betting site will process your funds immediately.
What Are the Different Ways to Withdraw From Betfred in South Africa?
We discovered some interesting facts about Betfred withdrawals by conducting research on the bookmaker. The betting site allows players to remove their funds using the methods outlined below:
- EFT Manual
- In-Store
- Ozow
- OTT
Our experts provide more details below about the two Betfred withdrawal options.
1. EFT Manual
EFT is one of the most common payment methods in the country. However, you may need to connect your bank account details to use the method.
EFT enables players to make their Betfred deposit or withdrawal instantly. Bettors get their funds within a few minutes when using this option. The payment option does not attract a fee, and the withdrawal limits are fair.
2. In-Store
Betfred has several branches across South Africa, where you can place bets, deposit, and claim bonuses. One of the functions you can perform In-Store is to request your withdrawal.
All branches have approachable customer support representatives seeing to the satisfaction of customers. You should visit the Betfred account closest to you. The process is smooth, and there are no withdrawal fees attached.
3. Ozow
Ozow is a type of instant EFT payment method that we rate highly. Our experts have listed it separately because it enables players to withdraw funds to specific banks.
Some supported banks include OldMutual, Bidvest Bank, TymeBank, Discovery Bank, Investec Bank, Capitec Bank, African Bank, Ned Bank, FNB, and Standard Bank.
Using Ozow as your Betfred withdrawal method enables you to get your funds within a few minutes. However, the withdrawal time may differ according to your bank. Our research shows players will not incur any charges for using this method.
4. OTT
Unlike other top betting sites that do not allow players to withdraw using vouchers, Betfred customers can remove their winnings using an OTT Voucher. This is a go-to method for customers who prefer to get their money from Betfred in cash or airtime.
All you need to do to use this method is to get a PIN from Betfred at your point of withdrawal. You will then need to redeem this PIN at any OTT Voucher shop close to you.
We have found that the method is instant, but the only downside is that players may need to go out of their convenience to search for an OTT voucher store.
To finish this section, we present a table showing how the withdrawal methods compare:
Withdraw Method | Average Processing Time | Processing fee withdrawal/deposit |
EFT Manual | Instant | No fee |
In Store | Instant | No fee |
Ozow | Instant | No fee |
OTT | Instant | No fee |
Restrictions and Conditions for Withdrawing From Betfred in South Africa
Recent investigations show that most players don't follow read instructions before initiating withdrawals on betting platforms. We have found that customers must obey specific Betfred withdrawal rules to withdraw from the platform. We outline some of the rules below.
1. Wager Your Deposit
The betting site prohibits initiating withdrawal of your deposit amount without using it to place bets. Players can only withdraw funds they've won from placing bets on the platform. However, if you change your mind about betting after making a deposit, you must wait 30 days before requesting to withdraw your deposit amount.
2. Wagering Requirements
One of the Betfred withdrawal problems bettors face is failing to meet the wagering requirements of bonuses. The betting site allows players to use a Betfred promo code to claim the first deposit offer and other promotional bonuses.
However, we tested and saw that most bonuses have wagering requirements, which customers must fulfil before requesting withdrawals. We encourage you to read the terms and conditions of your claimed bonuses thoroughly before initiating withdrawals on Betfred.
3. Incorrect Details
Another problem you might face when requesting withdrawals on the platform is incorrect details. Ensure your bank account name correlates with the name on your Betfred account.
This is the same for In-Store and OTT withdrawals because the attendant will ask for your ID to confirm you own your betting account. Betfred frowns at using another person's withdrawal details.
4. Withdrawal Limits
All Betfred withdrawal options have minimal and maximum limits. Customers must stay within the limit of their chosen method to successfully remove their funds.
5. FICA Verification
All customers must undergo FICA verification before requesting their first withdrawals. This helps the betting site keep the platform secure against fraudulent activities, which is something we rate.
Customers will need to provide documents to allow the bookie to confirm their identity, age, and location. Some of the required documents include the following:
- South African ID, Passport, or Driver's Licence
- Proof of Residence, such as Utility Bills
Bettors should send these documents to customer support via support@betfred.co.za. The customer support representatives will get back to you within 72 hours of sending your documents about your verification status.
To avoid withdrawal delays, we always recommend that players verify their identity immediately after their Betfred registration.
To Conclude - Withdrawal With Betfred in South Africa
Removing your winnings from Betfred is seamless once you follow the rules. After completing our research, we discovered that the betting site provides four withdrawal methods.
Withdraw using EFT Manuals, Ozow, OTT, and In-Store. The Betfred withdrawal time for all methods is instant, but you may need to wait a few minutes to claim your funds.
We tested and outlined the steps you can follow in this guide, and we hope our investigations allow you to make an informed decision about the sportsbook. If you want to find out how to bet on Betfred, we encourage you to check out our Betfred review.
Betfred Withdrawal - FAQs
What are the accepted payment methods for withdrawals on Betfred?
The accepted withdrawal options on Betfred are OTT, EFT Manuals, Ozow, and In-Store.
How do I initiate a withdrawal on Betfred?
You may initiate a withdrawal on Betfred by logging into your account and clicking on your account. Select ‘Withdrawal’ from the list of options and choose your desired options. Enter your withdrawal amount and follow the prompts to finish the process.
How long does it take for a withdrawal to be processed on Betfred?
Withdrawals are usually instant for all methods. However, depending on your chosen payment method, you may need to wait a few minutes.
Are there any fees associated with withdrawals on Betfred?
No Betfred withdrawal fees are attached to removing your funds from the bookmaker.
Is it necessary to verify my identity before making a withdrawal on Betfred?
Yes, verifying your identity before making your first withdrawal is compulsory. You wouldn't need to verify your identity for subsequent withdrawals.
What should I do if my withdrawal is not being processed on Betfred?
Ensure you're within the withdrawal limit before initiating withdrawals. Also, make sure you verify your identity before trying to withdraw. If you are still facing the same problem, kindly contact customer support.