In these modern times, customers are always looking for fast and secure means to send and receive money online. This is particularly relevant when speaking of virtual casinos, as these platforms are enjoyed by millions of Canadians. Of course, some methods are more trustworthy than others.
The ecoPayz casino payment system has enjoyed a growing number of users, so it only makes sense that we take a look at what is in store in greater detail. How does this e-wallet work? What do you need to know about deposits and withdrawals? What are its main benefits to Canadian players and are there any possible drawbacks? If you have been curious to learn more, there is no doubt that the information found below will come in handy.
What is ecoPayz?
The online e-wallet known as ecoPayz is essentially a virtual smartphone payment system that allows users to send and receive money. Some common options include person-to-person (P2P) transfers, international payments, and the ability to top-up accounts on gaming-related websites (such as casinos).
This online payment platform was first introduced as far back as 2000 although it was known as ecoCard at the time. Therefore, it is one of the oldest e-wallets that is currently still active. ecoPayz has been governed by the UK Financial Conduct Authority (FCA) since 2008 and this firm has been partnered with MasterCard since 2009. The platform began to offer its users the option to upgrade to a business account in 2011 and it now provides other interesting amenities such as online vouchers.
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How Does ecoPayz Work?
As you might have already imagined, you will first need to open an account with ecoPayz in order to send or receive money. Assuming that you have registered, the process is actually straightforward. For example, you can “top-up” an account by transferring money from a bank or credit card.
It is interesting to note that unlike some other services such as PayPal, users are not required to have a bank account during the initial registration. ecoPayz also does not perform any type of credit check.
The flexibility of the ecoPayz app is also very impressive, as it currently accepts over 50 international currencies (including Canadian dollars) and the number of online casinos with ecoPayz as a payment option is continuing to grow. Users can apply for as many as three ecoPayz MasterCards and ecoPayz keeps up to date with the latest exchange rates; very important for transfers.
Of course, you will first need to open up an account in order to better understand what ecoPayz has to offer. This leads us directly to the next main point. Let’s take a look at the functionality of ecoPayz as an online payment method.
How to Use ecoPayz at Casinos
You need to provide basic personal information in order to begin the registration process. This includes:
- Your first and last name.
- Your email address
- Your birthday
- Your physical address
- Your telephone number
- How you plan on depositing funds (the source)
Canadians will also be asked to provide further proof of identity such as a driving license, a residency card or a passport. This is purely for security reasons and it will help to make certain that the account itself is valid. In the same respect, you can choose to open up one of five different accounts. These are:
Classic is considered to be the standard account and users can upgrade over time. More flexible accounts offer perks such as higher spending limits and lower transaction fees. On a final note, it should be mentioned that the current limit for the Classic account is €2,000 euros (approximately $4,000 CAD at the time that this article was written). Platinum accounts offer a limit of €120,000 euros ($186,000 CAD) and VIP levels have no limits whatsoever. We can now see why the number of Canadian online casinos accepting ecoPayz is continuing to grow.
Casino Deposits with ecoPayz
The good news is that there is more than one ecoPayz deposit option if you wish to place funds into an active account. Some common methods include:
- Bank wire transfers
- Credit cards
- The ecoVoucher system
- Other well-known e-wallets such as iDeal and UnionPay
We should still mention that fees will vary depending upon the ecoPayz deposit option that is selected. Bank transfers will be charged anywhere between 0 and 7 percent. Credit card deposits will incur fees of between 1.69 and 6 percent. As the exact rates often depend upon your provider, it is a good idea to contact the financial institution in question to learn more. Once a deposit is completed, the funds should be immediately available for withdrawal if you wish. You can send these funds to any one of the many online casinos with ecoPayz as a recognized service.
Casino Withdrawals with ecoPayz
So, what if you instead wish to withdraw funds from Canadian online casinos accepting ecoPayz? The good news is that withdrawals are just as straightforward. Once again, all of the electronic methods mentioned above are available. Keep in mind that in the majority of cases, ecoPayz will not charge a fee for receiving money from a casino. Most casinos will also not require any type of fee to be paid before a withdrawal is completed. However, be sure to check in advance in order to avoid any unpleasant surprises.
Is ecoPayz Safe to Use at Casinos?
You will be happy to learn that the ecoPayz casino payment system is quite secure. This is why ecoPayz casinos for Canadian players are also very attractive options; they can remain confident that their personal information will remain safe at all times. Let’s also remember that this transfer service is regulated by the Financial Conduct Authority (FCA) of the UK. Some additional certifications relevant to ecoPayz casino payments include:
- A principal member of MasterCard International Incorporated.
- Fully compliant with the Payment Card Industry (PCI).
- In full accordance with the Data Security Standards (DSS).
- Registered with the Information Commissioner’s Office (ICO) under the Data Protection Act of 2018
So, the best ecoPayz casinos Canada has to offer are obviously keen to take advantage of these benefits. It should also be mentioned that much like the majority of other online payment networks, ecoPayz uses a form of encryption known as Secure Sockets Layer (SSL). SSL is one of the most secure methods to send and receive information. 256-bit encryption makes this system nearly impossible to compromise. All technicalities aside, you should have no reason to worry about the safety of your data when registering with ecoPayz.
The Best Online Canadian Casinos Accepting ecoPayz
Now that we have taken an in-depth examination of the services offered, it only makes sense to quickly list a handful of the best ecoPayz casinos for Canadian players. While this list will undoubtedly be updated in the future, here are some of the top websites to consider:
In terms of the best ecoPayz casinos Canada has to offer, this is only a small selection. The fact that major brands are included within this list clearly shows that ecoPayz is here to stay. As always, be sure to bookmark this page for future reference. Our team of professionals will be constantly updating the websites mentioned above
The Pros and Cons of ecoPayz
In order to provide you with a purely objective review, we feel that it is a good idea to conclude this article by listing some of the main benefits associated with the ecoPayz casino payment system as well as some possible drawbacks. Here are the advantages that you can expect to enjoy:
- The ability to select from five different user accounts.
- EcoPayz recognizes more than 50 international currencies.
- Users are provided with accurate exchange rates.
- Instantaneous online transfers.
- Robust levels of customer support.
- Industry-grade security and encryption.
Still, there are some possible disadvantages which should be pointed out:
- The ecoPayz MasterCard is not available to Canadian residents.
- All internal transfers (except the Gold Account) will be subject to fees.
- Some claim that the mobile application is rather slow.
- Accounts can be closed on occasion for no apparent reason.
We can now see that the ecoPayz casino transfer method is quite an interesting option to consider. Be sure to perform additional research in order to make an informed decision when the time is right.