How does the OZOW deposit work on Playabets?

Short Answer: To deposit using OZOW on Playabets, you select it as your payment method at the cashier, choose your bank from the list, and approve the instant EFT request via your online banking profile. OZOW is a contactless, cashless, and cardless payment solution that allows you to transfer funds directly from your bank account.

It is a lightning-fast bank-to-bank payment method used by millions of South Africans.

1. How the OZOW Process Works

According to the Playabets Payments page, OZOW is listed under the Electronic Fund Transfer (EFT) section. Once you select OZOW, you will be prompted to choose your bank and enter your online banking login details. OZOW securely facilitates the transfer, and you authorise the payment using a One-Time PIN (OTP) or by approving it through your banking app. Once confirmed, the funds are immediately credited to your Playabets account.

2. Important Rules to Remember

While OZOW is fast and convenient, you must ensure that the bank account you are using is registered in your own name. Playabets prohibits third-party deposits to comply with FICA and anti-money laundering regulations. The bank account holder's name must match the registered name on your Playabets profile. Using someone else's bank account can lead to your deposit being blocked and your account being suspended.