As one of the trusted and leading gambling operators in South Africa, Betway ensures its clients carry no suspicious activities. This is achieved through Fica Betway, where all users are subjected to verification that identifies the account ownership. This ensures that South African punters registering with Betway are authentic and complies with responsible gambling regulation.
Meaning of Fica and its Importance
Fica is a South African act that stands for Financial Intelligence Center Act. It was enacted in 2001. This act is a requirement for every punter who intends to sign up with Betway. Fica is a process that requires users to upload or send their identification documents to conduct any financial transaction with the online bookmaker.
South African government, through Fica, requires all betting operators in the country to verify all their customers’ documents upon signing up. The rules of Fica revolve around the registration and identification of clients. Fica is essential since punters cannot transfer their winnings from their Betway account to their bank or make withdrawals without it. However, gamblers can still fund their accounts and wager on games without submitting Fica documents.
Fica Betway helps the South African government in fighting several financial crimes. These include:
- Tax Evasion
- Money Laundering
- Terrorist Financing
Fica Documentation Requirements
To Fica a Betway Account, you must submit or upload two kinds of documents, e.g., a valid ID card and a valid residential address. These documents do not have to be the original as they can be scanned using a PC or taken as a photograph. They are then sent via email (fica@betway.co.za) or uploaded on the Betway portal. For a smooth verification process, always take clear pictures with readable text.
There are several identity documents that you can submit for Fica Betway verification. One of these documents is enough and must correspond with the Betway registration details. They include:
- Smart card ID
- Green barcoded ID book
- Valid Passport
On the other hand, the documents required for proof of residential address comprise:
- The municipal rate received in the last 3 months
- Mortgage statement for the previous 6 months
- Utility bill
- Rental/lease agreement
- Life insurance policy
- Driver’s License
How to Upload Fica Documents on Betway
The following are the step by step guidelines you can follow when uploading or submitting Fica documents to the Betway service portal.
- Input your login details to your Betway account.
- On the top left of the homepage, click the “Menu” button.
- Scroll down at the bottom of the page and select the document upload button.
- Submit at least one of the ID cards in the ‘ID Documents’ section.
- Select “Other section” and choose one of the residential Proof of address documents to upload.
- Wait for the confirmation email to appear. This usually takes up to 48 hours.
- After verifying your Betway Account, you can start transacting and making the withdrawal.
As a new punter, you can take up to 30 days to sign up on Betway SA to verify your account. Anything beyond 30 days will prompt the operator to suspend your account. But after passing the verification process, you can start funding your account and wager on your preferred sports and events.
