ecoPayz is an e-wallet service. Founded in 2000, it is one of the longest established e-wallets in the world. Like other e-wallet services PayPal and Skrill, customers transfer funds from their bank accounts, debit/credit cards, and other permitted methods into an account. Then, customers can pay for goods and services securely through their account to merchants that accept ecoPayz as a valid payment method. E-wallets are often a good choice as a preferred online casino payment method.
History of ecoPayz
- 2000 – ecoPayz was founded
- 2008 – PSI-Pay LTD, the owner of ecoPayz, was regulated by the FCA (Financial Conduct Authority) as an Authorized Electronic Money institution, and through the EU Directive on electronic money.
- 2009 – The company became a principal member of Mastercard. The prepaid ecoCard can be used at any merchant that accepts Mastercard. The same year, the company launched their own iPhone app. This, they claim, made them the first financial institution to do so.
- 2013 – The company re-branded in order to showcase an entire range of products including the ecoAccount, ecoCard and the ecoPayz Merchant Account.
- 2014 – ecoPayz won the award for “Best Prepaid Card Design” at the Prepaid365 Awards.
- 2016 – The company added a 2-step verification feature, which offers an added layer of security to an already secure product.
How ecoPayz casinos work
ecoPayz is an e-wallet accepted by a good number of online casinos. It is free to set up an account, and you don’t need a bank account, nor will you have to undergo a credit check. Once you have set up an account, you will no longer have to worry about giving out your credit card or bank details to online casinos when making a deposit. All you will need is your ecoPayz username and password in order to make a payment.
ecoPayz payments should process almost instantaneously. Though some casinos may implement their own security checks which may prolong the withdrawal process, deposits should be immediate.
Depositing money at an ecoPayz merchant casino should incur no fees for the customer, and neither will it incur fees from them when you want to make a withdrawal. However, the casino may implement a small withdrawal fee. For more information on the fees and limits of a specific casino, visit the Banking/Cashier help section of the casino’s website.
You may incur small charges on ecoPayz when you deposit and withdraw money from your ecoAccount. For bank account deposits, you will incur a fee of 0-7%. For credit card deposits, it will be a 1.69-2.9% charge. When making a withdrawal of funds from your ecoAccount to your bank account, this will incur a fee of anywhere from the equivalent of €5.90-€10.
Are ecoPayz casinos or me?
As with all digital wallets, the main benefits of using ecoPayz as your online casino payment method are twofold. First, it is a way to siphon off and centralize your online gambling funds to help you keep track of your finances. Secondly, you do not have to give your bank account or credit card information to an online casino if you are wary of doing so.