Pros & Cons Of ecoPayz Casinos

Pros & Cons Of ecoPayz Casinos

ecoPayz is a simple and practical e-wallet on the market. Since its launch in 2000, it has allowed its users to go paperless. It is run by PsiPay based in the UK and regulated by the FCA, meaning that it meets all the legal requirements for guaranteed user security and transaction reliability.

Many online casinos have partnered with ecoPayz, allowing players to make deposits and withdrawals through the two ecoPayz cards, an ecoCard, which functions like a regular bank card, and the ecoVirtualCard, which works best for online payments.

The Pros of Using ecoPayz Casinos

  • Fast and Secure Transactions. ecoPayz provides fast and secure casino transactions. It encrypts all data with the 256-bit SSL encryption technology to protect your financial information from unauthorized access by hackers. Encryption is a requirement for all payment providers. ecoPayz also employs several security measures, such as two-factor authentication, which requires you to provide a unique security code before you can access your account, sent to you either via mobile or email. 
  • Mobile Application. You do not have to use a browser to use ecoPayz. You can do everything you need through a mobile application available for iOS and Android. While visiting the site will still get the job done, the mobile application is more responsive and easier to access and use.
  • Several Account Funding Options. You can fund your ecoPayz account through several options, debit and credit cards, bank transfers, and prepaid cards like the ecoVoucher. It is possible to top up your account and make online casino payments quickly. ecoPayz even supports several currencies, making it easy for players who use multiple currencies to switch from one to the other as they see fit.
  • ecoCard. ecoPayz provides users with the ecoCard, a prepaid Mastercard which you can use to make deposits at online casinos. The ecoCard directly links to your ecoPayz account, and you can quickly transfer some money between them. Making it a convenient option for players who would instead use a physical card when making online transactions. Moreover, acquiring the card is not challenging, but there is a fee.

The Cons of Using ecoPayz Casinos

  • Fees. ecoPayz has no deposit fees for bank transfers but charges 1.69% for credit card deposits. When making withdrawals through bank transfers, you are charged € 5.90 for bank transfers and 2% for cash withdrawals. Currency conversion rates of 2.99% also apply, and when you do not use your account for 12 months, €5.00 is deducted from your account.
  • Verification Process. You must verify your account before using ecoPayz at online casinos. You must provide a copy of your recent utility bill and ID to complete the verification process. Verification often takes 1 to 2 days and sometimes can take a long time, even up to 5 days which may be inconvenient for some users. If your documents are challenging to read and the image is blurry or does not contain all the documents' corners, then your verification will not go through.
  • Withdrawal Limits. ecoPayz imposes withdrawal limits. The least amount you can withdraw using ecoPayz is €25-€50, which varies from one platform to another and is suitable for high-rollers but may not work well for regular gamblers. You can also only withdraw up to €1,000-€10,000. The specific quantity differs across various gambling platforms.

In summary, ecoPayz presents itself as an e-wallet option for online casinos, providing quick transactions, a mobile application, various account funding options, and the ecoCard for additional convenience. However, it also has some disadvantages, such as fees, a potentially time-consuming verification process, and withdrawal limits.  Check the terms and conditions to determine the restrictions at online casinos if you plan to use ecoPayz, for a better experience.

John Gold