Owned by PSI-Pay and full regulated by the United Kingdom Financial Services Authority (FSA), EcoPayz has fast become one of the most used eWallet systems used around the world. It’s also been massively popular with online casino players wishing to top up their accounts since around the year 2000 and beyond, because of its security and easy to use interface.
It is primarily an eWallet, as mentioned above, meaning that it can be used for sending money around the world electronically, as well as make purchases of goods and services on the internet. This is why many online casino players have opted for it. However, there’s a secondary element to the EcoPayz system that provides its users with a physical card that can be used in shops and businesses in the real world, as well as a regular credit or debit card online.
EcoPayz can also be used to transfer funds between individual users, to businesses and to online casinos. Before they can do this, a user must add funds to their EcoPayz account via a variety of methods including using a credit card, an online bank transfer and so on.
To sign up for your own account, simply visit the EcoPayz website and click the ‘Join Now’ button you see prominently displayed on the homepage and elsewhere. Set up takes mere minutes and the onscreen instructions for entering your details make it super simple to apply. If you are accepted, which most players are, then you can start using your eWallet online straight away, while a card will need to be sent via the mail and may take up to a week to arrive.
Certain features are only unlocked once a user has gone through the complete registration processed and had all of their details verified by the EcoPayz team, but again, this is a frictionless process that makes a lot of sense so that fraudsters aren’t able to use the system.
The primary method for adding funds to your EcoPayz account is to use a credit or debit card. This process is not instantaneous, but rest assured that once you have it set up correctly, topping up from the same card again is super simple. So, when first adding a new card, EcoPayz will send you a microtransaction of a few cents. You must then look at your debit or credit card statement (much easier if you have online banking in place, of course) and head over to the myEco part of the site where all your details are held. Enter the amounts of the microtransactions and EcoPayz will be satisfied that you own the debit or credit card account. Be aware that funding your account in this way will incur a charge of 2.9% in fees.
The other main method of funding an EcoPayz account is to use a wire transfer directly from your bank account. However, this process takes much longer and will incur fees of up to 8.9%.
If you opt for the ECO Webcard (EcoPayz branded MasterCard), you can use this to fund purchases and slowly whittle down the amount of cash held in the eWallet that way. An alternative to this is request a bank wire transfer directly to another account. Again there are charges involved with this process (and possibly additional ones on your bank’s side too), so watch out for those, but essentially the process is as painless as the rest of the setting up phase. You will need to provide EcoPayz with the details of your bank account, of course, which will normally involve you providing a SWIFT or IBAN number. The transfer will then take up to five business days until you have the money requested back in your bank account.