Online Casinos Accepting Webmoney
Many South African online casinos also accept players from Eastern Europe and Russia. At such casinos, Webmoney is often a top payment option. Technically, you can use this online payment option from close to 200 countries around the globe.
But the big question is – should you consider Webmoney as a payment option for South Africa online casinos? On this page, we will tell you everything you need to know about Webmoney – especially from an online casino South Africa perspective.
We also have a list of the top South Africa online casinos that support Webmoney payments. Only safe casinos that pass our stringent quality tests find a mention on this list. You can pick any one of them with your eyes closed – there are no scam sites here!
Everything You Need to Know About Webmoney
Back in the 1990s, there was a huge financial crisis in Russia. As the value of the rouble plummeted, people started using US Dollars for transactions. Webmoney was launched in 1998 as an online money transfer system for US Dollars.
Over the years, it has expanded into Russia’s largest online payments processing system. Over 75% of all Webmoney users come from Russia, with the rest coming mainly from the Commonwealth of Independent States (CIS) – Ukraine, Armenia, Georgia, Kazakhstan, Uzbekistan, etc.
Webmoney also started operations in Western Europe in 2015, with offices in Cambridge, UK. They have a full FCA license to provide e-money services in the European Union. But even though you can use Webmoney from all major parts of the globe, it is mainly used in Russia and Eastern Europe.
Currently, there are an estimated 40 million Webmoneyusers and the system is available at over 100,000 online stores. This also includes many online casinos that welcome players from Russia and former Soviet states.
Webmoney payments are based on the concept of an electronic currency. When you make deposits worth $100 into your Webmoney account, you get an equivalent amount of virtual currency called WMZ. For Russian roubles, it is called WMR, for Euros it is WME, and so on.
The major currencies supported are USD, EUR, RUB, UAH, BYN, and UZS. South African Rands (ZAR) is NOT supported for direct transactions. If you deposit in ZAR from an SA bank or credit card, it will first be converted into one of the accepted currencies like USD or EUR, and then converted to the virtual form.
One of the advantages of the Webmoney system is that you can manage separate virtual wallets for each currency. Your dollar deposits will be in a dedicated WMZ wallet, while Euros will be accounted in another WRE wallet, and so on.
You may use these virtual wallets to do the following things with Webmoney:
- Pay bills online
- Send money anywhere on the globe
- Pay for local shopping through kiosks
- Pay online merchants internationally
Naturally, the kiosks are only available in its core markets like Russia and Ukraine. If you are a South African customer, you can use it with your credit cards or online banking for payments at merchant sites and online casinos.
Online Casinos and Webmoney
Webmoney is available as an online payment method for both deposits and withdrawals at online casinos. You are more likely to find this payment method at casinos that take in a lot of players from the Russian and CIS markets.
Since many SA online casinos also belong to that category, you can use Webmoney as a South African player. It is fully available as an online wallet/payment service in South Africa. But the main issue you will face is the lack of direct support for ZAR transactions.
You cannot deposit in ZAR into your Webmoney wallet – instead, you will have to first convert it into either USD or EUR, paying excess conversion charges in the process. Further, you will also have to pay 0.8% processing charges when you make a Webmoney deposit at an online casino.
Withdrawals can also attract further charges from Webmoney – when you withdraw to a credit card, you will have to pay a 2% commission. Withdrawing to a bank account will incur a 1.5% processing fee. These transactions can also take up to 4 working days (from Webmoney to your card/bank).
How to Use Webmoney – The Basics
Webmoney user accounts are called “passports.” These come with various levels of security verification. At the lowest level is an ‘Alias’ passport – you start with this level by default when you sign up with a phone number and email address. While it is possible to make deposits with an Alias passport, withdrawals will be strictly limited.
Once you provide another ID proof like a passport or voter ID, your level is increased to a ‘Formal’ passport account at Webmoney. At this level, you can link your credit cards, make withdrawals, and use other advanced Webmoney services.
There are a couple of other higher passport levels for advanced users and high rollers. They are Initial and Personal – but these are not valid options for South African users, as you need to visit a Webmoney agent in person for verification. This service is not available outside Russia/CIS.
Getting a Webmoney Account in South Africa
Starting a Webmoney account in South Africa is pretty easy. You can do it online in a matter of minutes as long as you have a valid mobile phone number and email account. Just visit the Webmoney website and click on the Sign Up option.
Enter your SA mobile number and email account when prompted by the registration process. They will also ask you for a few other personal details. After successful mobile and email verification, your basic Alias passport is ready.
But for full functionality and unrestricted deposits and withdrawals, you need to provide scanned copies of your legal ID. Follow these steps to get a Formal Passport at Webmoney:
- Log in to Webmoney account
- Visit the Verification Center
- Fill the form with personal details and ID details
- Submit scanned copies of the ID – passport, driving license, National ID, etc
- The Webmoney KYC specialist will verify and match the ID details
- Your account will be upgraded to Formal Passport
The Webmoney specialists can take anywhere from 24 hours to four days to verify the documents. This is because they don’t have any offices in South Africa – all the teams are located in Russia/CIS offices only.
Using Webmoney for Casino Deposits
You can use Webmoney at SA online casinos after adding money to your WM wallets. You can use the following payment methods to convert your ZAR into e-money at Webmoney:
- Credit Cards – transactions attract a 2.5% processing fee
- Other e-wallets – free of any charges
- QIWI – charges may apply
Since ZAR is not accepted, you will have to either create a WMZ wallet (for US Dollars) or a WME wallet (for Euros) to make payments at online casinos. With a verified Formal Passport, you can deposit up to $10,000 into your Webmoney account.
Once you have set up a functioning Webmoney Formal Passport account, making deposits at online casinos is quite easy. Just follow these simple steps:
- Pick any Webmoneyonline casino from our list here
- Register a new account at the casino and log into your account
- Go to the Deposits page and select Webmoney as your option
- Enter the amount you want to deposit
- When you confirm the transaction, the casino will load a secure Webmoney page
- Enter your Webmoney account and password details to authorize the payment
- The funds will be instantly deposited into your casino account
Casinos don’t usually charge you for online deposits. But you will have to pay a flat 0.8% processing fee up to $50 max to Webmoney when you use their online payment services.
Withdrawing Casino Winnings with Webmoney
Webmoney also supports withdrawals from online casinos. If you use Webmoney for your casino deposits, it will automatically be available as the default withdrawal option as well. This is a common rule at online casinos – they don’t generally allow players to use one payment method for deposits and another for withdrawals.
The entire process is exceedingly simple and has the following steps:
- Log into your casino account and check your balance
- Ensure that you have enough to make a valid minimum withdrawal request
- Go to the Cashier page and enter the Withdrawal section
- Webmoney will be enabled as the default payment method
- Enter your withdrawal amount in the space provided
- Send the withdrawal request to the casino
- It may take the casino team up to 72 hours to process the request
- The money will then be credited instantly to your Webmoney wallet
Next, you can leave the cash in your Webmoney account and use it for other online transactions, or choose to cash out to your bank/card. This process will entail small processing fees from Webmoney – between 1.5% – 2.5%, depending on whether it is a bank transfer or card transfer. Here are the basic rules:
- You can transfer a minimum of WMZ 100 (USD 100) to your bank from Webmoney
- Simply log into your WMZ wallet and select bank transfer
- Fill the “Request a New Transfer” form with the necessary details
- Accept the Webmoney terms
- Confirm the payment on the final page
It will take up to four days to transfer money from your WMZ wallet to a South African bank account or linked credit card. You can track the status of your withdrawal request on the My Transfers page on your Webmoney account.
Webmoney Online Casino Pros & Cons
There is no doubt that Webmoney is a popular and reliable payment method – it is used by millions of customers in over a dozen countries. But its utility may be somewhat limited if you are a South African resident. Here are some of the notable advantages and disadvantages of Webmoney:
Highly reputed payment service
Best in class security features
Licensed in EU, Russia, and CIS
Can use USD, EUR, RUB, or even cryptocurrencies
Lower transaction fees
Instant transfer transactions at online casinos
Cannot deposit in Rands
Have to pay additional fees on transfer between Webmoney and your card/bank
Customer support is in Russia
Limited features available in South Africa
Our Verdict: Why Use Webmoney at SA Online Casinos
While it has some useful features, Webmoney is not a recommended payment method if you are a South African resident playing at online casinos. There are far more convenient payment methods out there with full Rand (ZAR) support.
It is an excellent payment method for players from Russia/CIS – places where it is already a popular and well-established online payment service. For SA online casinos, e-wallets like Skrill/Ecopayz seem like more user-friendly and intuitive options.
Is Webmoney a safe and legit payment method?
Yes, Webmoney is the most popular online payment service in Russia and Eastern Europe/Central Asia regions. It is used by millions of customers in Russia and former Soviet republics. It has all the relevant national licenses as well as an SFA license from the European Union. Webmoney is a trusted service active since 1998.
Can I use Webmoney at online casinos?
Yes, since it is a major payment service in Russia/CIS countries, online casinos that cater heavily to players from this region will have Webmoney as a payment option. You are less likely to find it at websites that do not accept Russian players.
What is Webmoney?
Webmoney is an online wallet that you can use to do online shopping and send payments to others around the globe. It also has additional features like a Peer-to-Peer currency exchange system, credit facilities, escrow, and other online business financial services.
How good is Webmoney compared to other casino payment methods?
Webmoney is the preferred online payment method in Russia, Ukraine, and other countries in the region. It is a very reliable service with low processing fees. But it does not fare well compared to global competitors like Skrill/Neteller in other parts of the world. The support is based in Russia and the interface is not very sophisticated or user-friendly. It also does not support any ZAR transactions.
How fast are Webmoney transactions at online casinos?
Ewallet transactions are the fastest mode of payment at online casinos. The actual transactions only take a few minutes (instant). As Webmoney is an e-wallet, it has fast online casino transactions compared to banks and credit cards.
Do I have to pay extra charges on Webmoney transactions?
Yes, all purchases/transactions using Webmoney wallets carry a fee at casinos, deposits do not attract any fees. Some casinos may charge additional fees on withdrawals in certain cases, but this is not the norm. However, Payeer itself will charge you extra for fiat currency transactions. With cryptocurrencies, there are zero fees attached – making them the ideal currency choice if you want to use Payeer.
When should I use Webmoney at online casinos?
It is an excellent e-wallet option if you want to conduct transactions in US Dollars, Euros, or Roubles. The processing fees are relatively low when compared to other similar online payment services. If you have links with Russia/CIS regions and travel or reside there, Webmoney is one of the best options at online casinos for your needs.
When should I not use Webmoney at an online casino?
Since it does not have direct ZAR support, Webmoney is not the best option for online casinos if you are a South Africa resident. If you really want to avoid excess charges like currency conversion fees, it is best to avoid Webmoney at ZAR online casinos.