One of the most popular payment solutions for e-card payments is ecoPayz. However, this payment provider does not just work with virtual cards as they also offer a physical card connected to your e-wallet. This means you’ll have several ways of accessing your funds through ecoPayz, making it a versatile and practical online payment solution. Even though it can be used for almost all online transactions, it’s perhaps used the most for online casinos, and there are plenty of casinos that support payments through ecoPayz. Learn more about this casino banking method alongside the things that may change your mind when it comes to using it in our ecoPayz review. Read the article→
Depositing with ecoPayz is easy, fast, and secure. Some casinos will have a separate payment solution only for ecoPayz deposits, while others will allow for you to use the normal payment solutions for card deposits. You simply log into your account with the e-wallet and fetch the card details from your e-card from there, then enter these details into the deposit page.
If you have opted for ordering an ecoPayz MasterCard, which is a physical card you can get mailed to you, you can of course also use this. The card number, your name, the expiry date, and the CVC-code is all you’ll need to complete the transaction into your player account at your chosen online casino.
By performing an ecoPayz withdrawal your winnings will be paid out to your e-wallet. It won’t be automatically added back onto the card you used for your deposit, but rather end up in your account. From there you can of course find any of your e-cards or your physical prepaid MasterCard. With this transaction, which is a transaction going to an e-wallet, you’ll get the funds as soon as the casino has approved your withdrawal.
If you haven’t used a dedicated ecoPayz payment through the casino’s deposit page, but rather performed the transaction as a normal card payment, the funds will return through a card withdrawal. This takes between 1 and 3 business days once it has been approved by the casino.
The verification of your ecoPayz account is carried out like with any other e-wallet. The company also needs a range of documents to verify your identity, including an ID with a photo, utility bill, and bank statements. All these are standard documents needed to confirm your identity and country of residence.
You’ll of course have to verify your identity and address with the casino as well, as this is always required for a KYC verification, and you can use the same documents as your used with ecoPayz for this. You’ll need to submit a copy/picture of a valid ID and a utility bill or bank statement for proof of address.
It's fair to mention that there have been plenty of complaints regarding the strict verification process ecoPayz has in place. Many accounts have been shut down and funds were voided. If you're curious to learn more, we will cover that in detail later in this article.
The limits for transactions using ecoPayz are set by the casino; usually these are the same as the limits for normal transactions for VISA and MasterCard. Anything from €500 to €5,000 per transaction is considered normal. You’ll also have limits from ecoPayz which will depend on your status with them. Factors that can affect your limits include how much you spend and how long you’ve had a verified account with them.
ecoPayz fees will vary greatly. Some casinos charge as much as 5% of the transaction as a fee, while others stick to the normal 2.5% for card payments. The best online casinos will, however, cover these fees for you, so you get to play with every cent that is deducted from your ecoPayz account.
To be eligible for a fee-free deposit you might also have to deposit a bit more than the minimum transaction amount available. This too will differ from one ecoPayz casino to another one. Information about this should be found either in the casino’s FAQ or on the deposit page. If the casino is not offering free withdrawals then you might have to pay either a fixed rate per transaction or a percentage of the amount you’re withdrawing.
Since ecoPayz can be classified as both an e-wallet and a payment card there is no set standard for the eligibility of casino bonuses when you use this deposit method. Some casinos will not let you activate their welcome bonuses with e-wallet deposits, which can be a big problem for users of Skrill and Neteller. ecoPayz might be grouped into these e-wallets as well, which means you may not always be able to use it for your first deposit. If, on the other hand, the casino classifies ecoPayz as a payment card, you’ll be sure to get your bonus.
ecoPayz is not among the cheapest payment methods for a casino to integrate, which is why finding exclusive ecoPayz bonuses is not that common. It could be that some online casinos have special offers for this, but it’s not considered normal. If you do find a bonus like this you’ll most likely have to use an ecoPayz bonus code, and this will have to be entered before you complete your transaction. Just note that for a deposit to be identified as coming from this electronic wallet you can’t use it as a normal card payment. Instead, you’ll have to pay by choosing the ecoPayz logo on the deposit page.
Now that we cleared everything regarding what is ecoPayz, let's see how it compares to other leading e-wallets. Obviously, the main competitors of the service are Skrill and Neteller. Both brands are, interestingly, part of the same company - the Paysafe Group. In terms of fees and transaction times, all three are pretty much the same. The same applies to limits, as most casinos impose identical restrictions to all e-wallets. Most negative ecoPayz reviews from online casino players are about the acceptance rates as well as about the strict KYC process. While Skrill and Neteller are featured almost at every gambling site, ecoPayz isn't that commonly offered. Moreover, the sister companies seem to have much easier and smoother KYC procedure than ecoPayz. More on this issue comes in the next section.
One thing to note before choosing to use ecoPayz is the possible issue with the service’s KYC process. Namely, it seems that the company often requests additional documents even after verification has been successfully completed. If they, for whatever reason, flag your account as suspicious, chances are they’ll close it and withhold your funds. Obviously, nobody wants this to happen, regardless if they plan to use the money for online gambling or other activities.
There are lots of bad reviews about ecoPayz online that highlight this specific issue, so it really can’t go unnoticed. For instance, the service has a poor rating of 3.4/5 stars on Trustpilot and only 1/5 stars on Reviews.io. As we mentioned, most negative reviews focus on this problem.
For instance, Trevor B. complained on 03.18.2021 that they requested proof of funds source and needed that for any deposit. They required lots of paperwork, documents, etc. Eventually, the negative experience ended up with his account getting closed and his funds voided without any process or option of getting them back. Even on 08.29.2022 another person left a 1-star review regarding the same issue. This person ended up losing $200, and their account was also closed.
It’s one thing to be diligent and operate as regulations demand from you. It’s entirely another thing to have this trail of unprofessional behavior that often strips users off their money. After all, many other similar services exist that handle money, and there haven’t been as nearly negative reviews about this specific issue about them.
They seem to respond to negative reviews, but the responses seem vague. They always promise to look into the issue, but there are no specific details on whether the issues have been resolved. There are lots of negative reviews, and only in August 2022 five 1-star reviews were left.
Our point is - beware if you want to use ecoPayz.