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BetXchange Withdrawal Rules in South Africa

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WITHDRAWAL BETXCHANGE

BetXchange is a renowned bookmaker in South Africa. With a decent range of features and services, including Cash Out, video tutorials, live statistics, and the Sportal blog, BetXchange is a decent choice for sports bettors. Founded by Keith Ho in 1988, the company has grown to become one of the leading sports betting platforms in the country, offering a diverse selection of betting options, including horse racing and rugby. The brand has expanded throughout South Africa, with world-class betting shops in five of the nine provinces in the country. If you're new to BetXchange, you can read our full guide here. We have also previously discussed how to play on BetXchange. In this article, we will focus on the process of withdrawing your winnings and give you a detailed explanation of how to do it. So, let's get started.

BetXchange Withdrawal Method: How to Cash Out on BetXchange

When it comes to withdrawing funds from your BetXchange account, you have two main options: bank transfer and selling points.

Bank Transfer Payout

To withdraw funds via bank transfer, follow these steps:

  • Log in to your BetXchange account.
  • Navigate to the "Withdraw" section.
  • Select the Bank Transfer option.
  • Impart the necessary details (Bank Account Number, Bank name, Country, Full name).
  • Enter the desired withdrawal amount.
  • Submit the withdrawal request.
Bank transfer withdrawal page

Bank transfer withdrawal page

Selling Points Withdrawal

Alternatively, to withdraw your funds via selling points, you can also make a request online. Simply follow these steps:

  • Log in to your BetXchange account.
  • Visit the "Withdraw" section.
  • Select the Selling Point option.
  • Enter the amount to withdraw, choose location and shop.
  • Click on the “Request Withdrawal” button to confirm the transaction.
Selling point withdrawal page

Selling point withdrawal page

Minimum Withdrawal on BetXchange in SA

The minimum withdrawal amount at BetXchange for both bank transfers and selling points is R10.

BetXchange Maximum Cash Out

At BetXchange, the maximum withdrawal amount depends on the withdrawal method you choose. 

  • For selling points, the BetXchange maximum payout is R9 999 999
  • For bank transfers, the limit is R3 000 000

BetXchange Maximum Withdrawal Per Day

The maximum withdrawal limit at BetXchange per day is not directly specified both for bank transfers and selling points. However, according to the bookmaker's terms and conditions, customers are permitted to withdraw funds only once a day from Monday to Friday, between 8 AM and 6 PM. Therefore, the maximum withdrawal limits mentioned above apply to each day within these specified hours:

  • Selling points – R9 999 999
  • Bank transfer – R3 000 000

BetXchange Withdrawal Time: How Long Does BetXchange Withdrawal Take

When making a withdrawal request on BetXchange, please keep the following information in mind:

  • Withdrawal requests made after 10 AM will be processed on the following business day.
  • Withdrawals are not processed during weekends and holidays.
  • It may take between 24-48 hours for the funds to reflect in your account.
  • Failure to provide FICA documents for verification within two weeks will result in the removal of the withdrawal request.

BetXchange Bonus Withdrawal

If you wish to withdraw bonus funds on BetXchange, there are specific requirements and conditions to be met. Bonuses on BetXchange are subject to rollover requirements, which means you must wager a certain amount before being eligible to withdraw the bonus funds.


The BetXchange currently provides one sign-up offer, which is the First Deposit Bonus available to new bettors, who have not previously been customers of BetXchange. To claim the bonus, you need to open an account and make a qualifying deposit of at least R10. The bonus amount you receive is equal to 100% of your deposit, up to a maximum of R10 000.


Key T&Cs:

  • Wagering Requirements: To withdraw the bonus funds, you must place bets equal to 10 times the value of the Deposit Bonus.
  • Bet Exclusions: Bets placed at odds lower than 1.90 (9/10) do not count towards the rollover requirement.
  • Withdrawal Restrictions: You cannot withdraw the portion of the deposit that qualified for the bonus until you have met the rollover requirements. However, you can withdraw the remaining portion of your deposit that did not qualify for the bonus.
  • Time Limit: The rollover requirement must be fulfilled within 365 days of claiming the Deposit Bonus.
  • Bonus Limitations: The Deposit Bonus cannot be used in conjunction with any other new account offer from BetXchange, and you can only have one active bonus at a time

How to Cancel Withdrawal on BetXchange

Sometimes, you may change your mind after initiating a withdrawal on BetXchange and desire to cancel the transaction. Regrettably, BetXchange's platform does not offer an automated method for reversing a withdrawal request. In such cases, the only viable solution for cancelling the withdrawal is by reaching out to the support team directly.


It is essential to understand that the success of cancelling a withdrawal is not guaranteed, as it highly depends on the processing stage of the transaction. If the withdrawal is already processed by the BetXchange team, the cancellation might not be possible.

BetXchange Withdrawal Problem

Sometimes, users may encounter various challenges when it comes to withdrawing funds from their BetXchange accounts. In this section, we will explore common withdrawal issues faced by BetXchange users and give practical solutions to address them effectively.

Delayed Withdrawals

Users may experience delays in the processing of their withdrawal requests, leading to frustration and inconvenience.


Solution:

  • Contact customer support: Users should reach out to the BetXchange customer support team to inquire about the status of their withdrawal and request expedited processing, if necessary.
  • Verify withdrawal information: Ensuring that all withdrawal details imparted are accurate and up to date can help prevent unnecessary delays.

Verification Process

BetXchange has a verification process in place to ensure secure transactions, but it may pose challenges for users trying to withdraw funds.


Solution:

  • Promptly present verification documents: Users should submit the required documentation promptly to expedite the verification process.
  • Follow instructions: Adhering to the instructions given by BetXchange for verification can help smoothen the withdrawal process.

Bonus Restrictions

Users may face difficulties withdrawing funds if they have not met the specific terms and conditions associated with bonuses and promotions.


Solution:

  • Read and understand the terms: Users should carefully review the terms and conditions of any bonuses or promotions before accepting them to ensure compliance.
  • Seek clarification: If there are any uncertainties or questions regarding bonus requirements, users should contact the BetXchange customer support team for clarification.

Technical Glitches

Technical glitches or system errors may disrupt the withdrawal process, causing troubles to users.


Solution:

  • Contact customer support: Users should immediately report any technical issues to the BetXchange customer support team, providing relevant details to help identify and resolve the problem promptly.

Here are the ways to contact the bookmaker:

  • Telephone: 011 712 4716, 011 712 4610 (Customer Support), 011 712 4800 (Deposits and Withdrawals department)
  • Email: [email protected] (Customer Support), [email protected] (Deposits and Withdrawals department)
  • Whatsapp (click on the Whatsapp banner on the right of the homepage)
  • Zendesk Live Chat: Available on the BetXchange website (bottom right-hand corner)

FAQs about BetXchange Withdrawal

What withdrawal methods can I use at BetXchange?

You can use two withdrawal methods at BetXchange: bank transfer and selling points. Bank transfer permits you to transfer funds directly to your bank account, while selling points allows you to redeem your winnings at designated BetXchange selling points.

I'm having BetXchange withdrawal problems, what can I do? 

If you're experiencing withdrawal problems at BetXchange, you can contact their support team for assistance. They can help troubleshoot the issue and present guidance on how to resolve it. Alternatively, you can reach out to the Deposits and Withdrawals department for specific inquiries related to your withdrawals.

Can I change or cancel withdrawals at BetXchange? 

Yes, you can change or cancel withdrawals at BetXchange if it has not already been processed, but you will need to contact their support team to request the change or cancellation. They will guide you through the necessary steps and give further instructions based on your specific situation.

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VALENTIN AXANI

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