ecoPayz is an online payments system with a reputation for secure and convenient payments. It is unlike other eWallets as you can use ecoPayz online and in the real world via an ecoPayz card. This will give you access to your ecoPayz account without having to use the internet.
The company behind ecoPayz – PSI-Pay Ltd – has gone through several iterations with their ePayments system, with the original concept called EcoCard. The company was established in 2000 and became a huge success as a leading eWallet, but was soon eclipsed by PayPal thanks to PayPal’s connection with the hugely popular online auction site eBay.
The EcoCard was launched in the real world in 2009 when PSI-Pay Ltd signed up with Mastercard. This meant that EcoCard users could use their account online as a normal eWallet account, and in the real world as a credit card. In 2016 the EcoCard was renamed ecoPayz, although some online casinos still refer – incorrectly – to the financial services provider as ecoCard.
The company is now known as ecoPayz but when you open an account with them, it is known as an ecoAccount. This is to separate the different ecoPayz aspects from one another, such as the ecoPayz business account, while keeping them under the ecoPayz umbrella.
Why Use EcoPayz at Online Slots Sites?
Most people will agree that using an eWallet at an online casino is safer than using your bank account or debit card. All top-tier licensed sites will encrypt any data transfers and they do not store details of your accounts, but using an eWallet just turns up the security factor to eleven. If you maintain a small balance in your ecoPayz account then in the unlikely event that your account is hacked, you will only lose the money in your ecoPayz account, and not the money in your bank account.
It is best not to keep a sizeable ecoPayz balance anyhow – fortunately transferring money to and from an attached bank account is simple and straightforward.
Some players may find transferring money to and from an online casino using a bank account, debit card or credit card problematic, due to legal restrictions put in place by some jurisdictions. There should be no issues encountered in transferring money into your ecoPayz account via your bank account, and then transferring money from ecoPayz to your online casino account.
- Very easy to open an ecoAccount and use it at online casinos
- Connect your ecoAccount to your bank account
- You can use your ecoAccount offline too with an ecoPayz MasterCard
Are there any disadvantages?
- Not as widely accepted as other options such as Skrill or Neteller
- Not available in all jurisdictions
Is it easy to use EcoPayz at Online Slots Sites?
If the online casino at which you want to make a deposit accepts ecoPayz transactions, then just head to the casino’s cashier and select ecoPayz as your payment method. Choose the amount that you want to deposit and click on the ‘OK’ button (or whatever confirmation button the cashier uses).
An applet then should pop up asking for your ecoPayz account name (which is usually your email address) and password. Fill these in to gain access to your account. You should then be asked to confirm the transfer. Once this has been completed your deposited money should be available to play with at the online casino immediately.
The good news if you hold an ecoPayz account is that – unlike some other ePayment providers – you will have no problems making withdrawals from an online casino. Any casino that accepts deposits from ecoPayz will also accept withdrawals to an ecoPayz account.
The withdrawal process is identical to the depositing process except that you are moving money into your ecoPayz account and not from it. Note that online casinos will have limits on the minimum and maximum amounts that you can withdraw.
Withdrawals times vary from casino to casino. With some it can be instantaneous, but with others it could be as long as seven days.
Sadly, there are fees associated with ecoPayz transactions, and they are quite high compared to other eWallets – you can check the current fees via the ecoPayz website. These fees are only charged when you move money to/from your ecoPayz account to/from a bank account, and NOT from a merchant.
Some online casinos will also charge you for making a withdrawal using ecoPayz. As you are paying fees anywhere it is always best to use an online casino that does not make withdrawal charges.
A. Yes! You can also use credit cards and bank wire deposits.
A. ecoPayz is available with most national currencies.
A. You can contact ecoPayz themselves via their website. The site also has a decent range of FAQs.
A. You can have as many payment accounts attached to your ecoPayz account as you wish. This includes bank accounts and credit card accounts.
It would be nice if ecoPayz lowered their fees, but remember ecoPayz does not charge you anything when you transfer money to or from an online casino. If you apply for an ecoPayz card then you can spend your ecoPayz in the real world too. The ecoPayz fees only come in when you want to transfer your ecoPayz balance to a non-ecoPayz account.
It’s a mystery why ecoPayz has not become as popular at online casinos as Skrill, Neteller or even PayPal, as it offers virtually the same in services. Hopefully with other payment methods such as credit cards having limitations placed upon them, the ecoPayz logo will be seen at more online casinos sooner rather than later.
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