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Despite being around nearly as long as its better known market competitors (PayPal, Neteller and Skrill), few people are aware you can use EcoPayz to deposit at an online casino. This is because EcoPayz no longer allows residents of the U.S. to open accounts and, in order to maximize the benefits of this digital eWallet, users should ideally be residents of a country within the Single Euro Payments Area (SEPA).
Consequently, EcoPayz is an online casino deposit option only under certain circumstances. It has lower transaction fees, lower currency exchange charges and higher limits than its market competitors. However, because many U.S. facing online casinos are unable to accept EcoPayz deposits, players wishing to expand their opportunities may be better reviewing other deposit options.
Because EcoPayz does not provide accounts for U.S. residents, most online casinos do not advertise this deposit method as an option for funding your account. You may find one or two are prepared to accept this deposit method even if it is not advertised, but the online casino may not be willing to absorb any transaction charges.
The primary benefit of EcoPayz online casino deposits is that EcoPayz is a low-cost option for maintaining a separate bankroll for your online activities. It won´t save you any money if you have to transfer funds to other payment methods in order to fund online casino deposits; but, when you use an online casino that offers EcoPayz as a deposit option, you could be considerably better off.
Players need to be aware that, until you verify your EcoPayz account, there is a daily transaction limit of €200 and a lifetime transaction limit of €2,500. Once your account is verified with two forms of ID, the daily limit is increased to €3,000 with no lifetime limits imposed. Furthermore, the more you transact through your EcoPayz account, the less you pay in transactions fees and currency exchange charges.
Unlike Neteller and Skrill, EcoPayz does not have a VIP program, but it does offer clients monthly promotions ranging from cashback to discounts with online vendors. Not all of the promotions are related to online gambling, but there should be the occasional one that will increase your bankroll – especially if you are putting a substantial volume of action through your account.
Other than limited acceptability, there are few problems associated with EcoPayz casino deposits, and most of these have to do with regulatory compliance. For example, we have heard it may be difficult to withdraw funds from an EcoPayz account to a bank outside of the SEPA zone or a bank that does not have SEPA-compliant technical instruments (since 2010, most banks within the EU are SEPA-compliant).
It is also important to note that EcoPayz has very stringent KYC and security measures. Although this is reassuring for players concerned about online fraud, it would be a negative for players trying to disguise their identities or hide their profits. Effectively, if you have an account with EcoPayz, expect the digital eWallet to be completely transparent with regulatory authorities – including the taxman.
EcoPayz accepts players from 147 countries, but the option to verify your account and increase its transactions limits to a reasonable amount is only available to residents of the EU and EFTA.
Not by default, but you can set up “2-Step Verification” (not to be confused with account verification) in the account settings.[/faq_anwer]
Can I withdraw funds from an EcoPayz account at an ATM?
Not that we have seen. It is a lot harder to open multiple accounts on EcoPayz because of the company´s KYC procedures. Therefore, online casinos are not so concerned about bonus fraud with EcoPayz.