EcoPayz is a very popular e-wallet or what is also known as an online prepaid debit card. It was established in 1998 in Luxembourg under the name Ecocard.
The company has since undergone a rebranding and is now known as ecoPayz.
With ecoPayz, you deposit money into a secure online account. This account can then, in turn, be used to pay for your online shopping, betting or sending money easily to other ecoPayz users.
ecoPayz is, therefore, an end-to-end account and card-based payment solution for individuals and businesses.
If you think of e-wallet providers, the first names to pop into your head are usually Skrill, Neteller or PayPal. But there are a few good reasons why you might consider registering with ecoPayz instead.
In this ecoPayz review, we will cover these reasons and ecoPayz welcome offers and bonuses in detail.
How Safe is it to Use ecoPayz?
ecoPayz is an accredited and regulated financial services provider. ecoPayz is accredited through the FCS (Financial Conduct Authority) in the UK and other financial service regulators across major European cities.
ecoPayz also boasts over two decades of experience and shows consistent growth in turnaround and profit.
The company’s most recent submission to the Companies House shows a remarkable net worth of £5.2m.
Another positive point that we found in ecoPayz security features is that they provide two-step authentication. Upon registration, you will need to supply a cell phone number.
Once you activate the two-step authentication, you can choose to have an SMS sent to your number (the one used upon registration) or use an authenticator app to verify your account.
Furthermore, as regulated financial services providers ecoPayz meets all the latest security standards. Fraud protection is one of these. They also prioritise data protection, and they never share your financial data with third parties.
ecoPayz also keeps all of the deposits received, unlike banks. This means that even if something happens to the company, you will still be able to withdraw all of your money.
In this ecoPayz review, we’ve found that ecoPayz is a safe online payment method to use with all of these security measures in place.
|Did you know? Ecopayz will never ask you to disclose any personal information or login details via email. If you receive an email from someone stating that they are from Ecopayz and requesting this information, it’s most likely a phishing email and should be reported to [email protected]|
How to Use Your ecoPayz Account and Other Information
ecoPayz has five different account types that you can sign up for. These are Classic, Silver, Gold, Platinum and VIP. ecoPayz states that they try to keep their costs low and simple to understand.
It’s free to register for your Ecopayz account. And transfers between Ecopayz accounts also doesn’t cost you anything.
There’s a slight price variation when it comes down to the cost differences between the five different ecoPayz accounts.
This is most noticeable with bank transfer fees, as VIP clients get a discount on these fees. Also, the costs for currency conversion become less with the more premium accounts.
Fees and Different Accounts Available
The below chart will set out the most common fees for easy reference.
|Bank Wire Deposit||0-7%||0-7%||0-7%||0-7%||0-7%|
|Credit Card Deposit||1.69-2.9%||1.69-2.9%||1.69-2.9%||1.69-2.9%||1.69-2.9%|
|Bank Withdrawal Fee||€5,90 – €10||€5,90 – €10||€5,90 – €10||€5,90 – €10||€2,90 – €7|
The differences between the accounts can be seen in the limits of each. The more premium the account is, the more you will be able to do with the account.
For example, a classic account has a maximum lifetime account limit of 2,500 EUR, whereas the other accounts have an unlimited maximum lifetime account. This means that you will have to upgrade to a more premium account once you reach your lifetime limit of 2,500 EUR on your classic account.
Limitations of the Different ecoPayz Accounts
Please refer to the below chart for some of the limitations.
|Max Lifetime Limit||2500 EUR||No Limit||No Limit||No Limit||No Limit|
|Max Account Balance||x||15 000 EUR||100 000 EUR||120 000 EUR||No Limit|
|Min Debit/ Credit Card Transaction||10 EUR||10 EUR||10 EUR||10 EUR||10 EUR|
|Max Debit/ Credit Card Transaction||200 EUR||1000 EUR||1500 EUR||2000 EUR||2500 EUR|
|Max Daily Debit/ Credit Card Deposit||200 EUR||3000 EUR||5000 EUR||6000 EUR||7000 EUR|
|Max Weekly Debit/ Credit Card Deposit||x||5000 EUR||10 000 EUR||15 000 EUR||20 000 EUR|
|Max Monthly Debit/ Credit Card Deposit||x||10 000 EUR||20 000 EUR||30 000 EUR||50 000 EUR|
|Min Bank Account Transaction||10 EUR||10 EUR||10 EUR||10 EUR||10 EUR|
|Max Bank Account Transaction||1000 EUR||9 999 EUR||9 999 EUR||9 999 EUR||9 999 EUR|
ecoPayz fees are relatively similar to both Skrill and Neteller. However, both of these charge for peer-to-peer transfers, whereas ecoPayz offers this free of charge on all accounts.
Registering for an ecoPayz Account
Registering for an ecoPayz account is a straightforward process. You can do so simply by completing an online form on the Ecopayz website.
In the first section of the form, you will need to insert a username, email address and password along with your country of residence, language, and currency.
In the second section, you’ll need to put your details such as your full name and surname, birth date, residential address, cell phone number and your funds’ source. Finally, you need to complete the captcha verification and accept the terms and conditions.
You can then immediately log into your ecoPayz account, but you’ll also receive an email to confirm your account.
Once you decide to upgrade your account, you’ll also need to supply them with proof of identity and proof of residential address. A copy of your ID and bank statements will suffice for this verification.
We have established that the registration process for an ecoPayz account is quite simple. You do have the additional step of verification that other payment systems don’t necessarily have.
But that adds to the ecoPayz system’s security and leads to more bonuses that we will discuss further in the article.
How to Use Your Ecopayz Account?
So you have registered and verified your ecoPayz account, now what? Once your account with ecoPayz has been registered and verified, you start using it immediately.
To start using your ecoPayz account online, you will first deposit money into the ecoPayz account. You can do this through a wide variety of methods, and the methods available depend significantly upon the country from which you try to make the deposit.
Initially, you could only transfer funds from your bank account into your ecoPayz account. Although that is still possible to do, ecoPayz has introduced many more options to make it even easier for you to deposit money into your account.
ecoPayz users can use the following payment options to deposit funds into their ecoPayz accounts: Visa cards, Mastercards, American Express, JCB, Giropay, ecoVouchers, Neosurf, InstantTransfer, Paysafecard, Safety Pay, Mister Cash, Fast Bank Transfer, iDeal, PayU and many more. Ecopayz is also continually expanding this list to make it even easier to transfer funds.
Currently, ecoPayz supports transferring funds in 50 currencies across the world. It’s easy to deposit money into your ecoPayz account to start using it online.
Ecopayz Bonuses and Welcome Offers
ecoPayz offers these promotions throughout the year, and users get the chance to win great prizes – just for being ecoPayz users.
There are also ecoPayz welcome bonuses such as a €10 if signing up with eWalletBooster. ecoPayz also sends out email notifications to inform you of any of their current bonuses so that you can make sure to enter.
Not only are you able to get these ecoPayz bonuses just for being a user. But ecoPayz also arranges many other extras for their users.
If you enjoy online gambling, then having an ecoPayz account can give you access to some fantastic ecoPayz welcome offers with certain online casinos.
Not only that, but you’ll also have access to unique ecoPayz bonuses when playing on certain online casinos. These bonuses aren’t just once off either.
The Ecopayz welcome offers are also really decent with certain online casinos. Some casinos offer a big monetary bonus along with free spins.
These are great when signing up for a new online casino as it gives a chance to experience what they have to offer. The Ecopayz bonuses offer equally great value.
Skrill and Neteller can’t offer the welcome offers and bonuses. Due to their lax verification process in the past, users with these accounts could create multiple accounts with online casinos and take multiple sign-up offers.
This has caused most of the online casinos to cancel sign-up offers to Skrill and Neteller users.
|Did you know? You can easily link your Ecopayz account with your casino betting wallet. The funds are also available immediately to use for your games.|
Pros and Cons of Ecopayz
The below table sets out the pros and cons of opening an Ecopayz account based on Trustpilot reviews.
|Good customer service||Slow app|
|Low fees||Request forms of ID for verification|
|Fast payments||Sometimes difficult to reach customer support through the phone|
|No person-to-person fees|
|Easy to use|
|Welcome offers and bonuses|
|Casino bonuses available|
Ecopayz Vs. Other Payment Methods
If you’re considering an e-wallet or online payment account, the chances are that you are looking at a few different options. We aim to help you by providing a table that compares the four most well-known online payment methods in one place for your convenience.
See the comparison table below:
|Account management fees||free||free||free||free|
|Sending p2p fees||free||1.45%||1.45%||free|
|Receiving p2p fees||free||free||free||Free when local2.9 – 7.4% internationally|
|Bank transfer fees||0-7%||2.5%||1.9%||free|
|Two-step authentication||✔️||✔️||✔️||PayPal security key|
There are many reasons to consider signing up for an online payment method. This Ecopayz review has found them to be a fast, secure and reliable option.
Ecopayz has many years of experience and offers excellent support to its clients. Not only that but the Ecopayz bonuses and welcome offers are a perfect addition.
The fact that Ecopayz can easily be used for online shopping and at online casinos is another perk.
Ecopayz is also a reputable payment method that still receives sign-up offers and bonuses from online casinos.
Sign up now to experience how easy an online account with Ecopayz can be.