EcoPayz is a longstanding online financial transaction company that falls under the umbrella of gaming e-wallets. They are currently under the management of British e-money issuer PSI-Pay and regulated by the UK Financial Services Authority. Since 2000, EcoPayz has been a leading payment solution for those who enjoy playing at online casinos, particularly Canadians.
EcoPayz Overview
Although it does offer an actual card in its services, EcoPayz is first and foremost an e-wallet. If you have registered an EcoPayz account, you can use it to transfer money to various online casinos or other merchants, as well as to other people directly. In order to do this, you must first load your wallet with money using a variety of deposit methods. You can then withdraw the funds from your EcoPayz account through numerous means.
To create an EcoPayz account, just go to their website and click the “Join us” button. As long as your country is listed in the registration form, you should be able to become an EcoPayz member within just a few minutes. Once your account is available, you are free to begin using it for deposits, transfers, purchases, and withdrawals. Although verification is needed for some methods, we have found that the process is quite painless compared to that of other e-wallets.
Adding Money to Your EcoPayz
The most popular method to get money added to an EcoPayz account is through a major debit or credit card. Before you can use a card, however, you’ll need to verify it with EcoPayz through your myEco interface. The verification process will begin when you attempt to make your first deposit. EcoPayz will then make a micro-deposit to your credit card account. You will then need to check your statement to find the amount, then enter it on the myEco website to make your card available for future deposits. Credit/debit card deposits are assessed a 2.9% fee.
If you are a Canadian, you can instead use the EFT method, which drafts funds directly from your bank account. Before you can use it without limits, you will need to verify it as well. EcoPayz will withdraw an amount between CAD50 and CAD250 from your bank account, which will be unlocked and placed on your EcoPayz wallet when you check your statement and correctly state the amount. If you opt to use the instant method, a fee of 8.9% will be assessed. Alternatively, delayed EFT adds a 4.9% fee.
Other options available to certain jurisdictions include local bank transfer and instant bank transfer, both of which take longer than the aforementioned methods. If you live in a jurisdiction without any of these options available, you may also do an international wire transfer to fund your account. Although technically free, both your bank and EcoPayz’s bank will likely add some fees during the processing which will be deducted from your deposit.
Withdrawing Money from Your EcoPayz
To get money out of your EcoPayz account, you have a variety of options. Perhaps the most popular is to spend it directly using your ECO Webcard, which is activated after you verify either your identity or credit card. This provides you with a real MasterCard number which you can use to make online purchases directly from your EcoPayz account. You can also apply for the physical EcoPayz Prepaid Debit MasterCard, which will then arrive at your address after several business days. Like the ECO Webcard, the physical MasterCard uses funds directly out of your EcoPayz balance. Both cards are free to obtain, but EcoPayz will charge you according to their fees table for use.
If you are looking to actually withdraw the funds out of your account, EcoPayz allows you to withdraw to a bank account via wire transfer, so you’ll need to provide essential bank information beforehand. Depending on your jurisdiction, you may need to provide your IBAN and/or SWIFT number. EcoPayz will charge €10 for the withdrawal in addition to transaction fees imposed by your bank.
