E-wallet
An e-wallet is an online account that holds money and pays merchants for you, such as Skrill or Neteller, or local services such as FNB eWallet. At casinos, e-wallets are popular because withdrawals to them are often the fastest.
By Mark SmithChecked Two kinds of e-wallet
International e-wallets such as Skrill and Neteller hold a balance you fund by card or bank transfer. You pay the casino from the wallet, and withdrawals go back to it. They’re common at offshore sites and useful if you play at several. Watch for currency conversion and withdrawal fees.
Local mobile wallets work differently. FNB eWallet lets someone send money to a cellphone number, which can be withdrawn at an ATM without a card, and some bookmakers use it to pay players out. Standard Bank’s Standard Bank Instant Money works in a similar way.
Pros and cons
Pros:
- fast withdrawals once approved
- your bank statement shows the e-wallet, not the casino
- one wallet can fund several accounts
Cons:
- some welcome bonuses exclude e-wallet deposits
- fees for loading, converting or withdrawing
- you still need to complete KYC, both at the wallet and at the casino
Alternatives
If you’d rather pay straight from your bank, use instant EFT. If you want to keep gambling money separate in cash, vouchers such as 1Voucher and OTT work well. Compare every method on our payments hub.
Frequently asked questions
Which e-wallets can I use at South African betting sites?
Local bookmakers often accept FNB eWallet and Instant Money for deposits, while international and offshore sites tend to take Skrill and Neteller. Check each site's cashier, as options change.
Are e-wallet withdrawals faster?
Usually, yes. Once a withdrawal is approved, money can reach an e-wallet within hours, while bank transfers may take one to three working days.
Do e-wallet deposits qualify for bonuses?
Not always. Many casinos exclude Skrill and Neteller deposits from welcome bonuses. Read the bonus terms for excluded payment methods before you deposit.
Related terms
Mark has been writing about online gaming since 2007, covering everything from sportsbooks to casino and slot reviews, offering insights for players of all levels.