What are the FICA verification requirements for withdrawals on Playabets?

Short Answer: To withdraw from Playabets, you must complete FICA verification, which includes verifying your identity, residential address, and banking details. You must also disclose if you are a Politically Exposed Person (PEP) and provide source of funds or source of wealth documentation if requested. No withdrawal is processed until these checks are successfully completed.

Playabets may conduct these checks at any time during the lifetime of your account.

1. The Documents You Need to Provide

According to the Playabets General Terms, verification may include identity verification, residential address verification, banking verification, mobile number verification, and email verification. Playabets may request any documentation reasonably required to verify your identity and financial activity. This typically involves submitting a valid South African ID or passport, a proof of address under three months old, and a bank statement or letter confirming your banking details.

2. Ongoing Monitoring and Enhanced Due Diligence

Verification is not a once-off process. Playabets reserves the right to conduct ongoing monitoring and periodic reviews. You must disclose whether you qualify as a Domestic Politically Exposed Person (DPEP), Foreign Politically Exposed Person (FPEP), or Prominent Influential Person (PIP), as enhanced due diligence may apply. Failure to provide satisfactory information may result in account restriction, suspension of withdrawals, or account closure.