An extensive review of EcoPayz in 2022. What they offer compared to the rest of the market, and how you benefit when linking your account to eWalletBooster.
October 14, 2022, London
EcoPayz is one of the world's longest-standing and most widely trusted e-money transfer services. While their competition is incredibly well-off, we can't just ignore EcoPayz. The why will become apparent as you read, but in short, they're secure, incredibly speedy, and offer too much to pass up.
But I don't expect you to trust me - we have proof! Keep reading for a thorough explanation of EcoPayz's history, security systems, VIP programme, and fee/limit structure - plus a couple of cool surprises.
Table of Contents:
So - how good is EcoPayz, really?
Founded in 2000, ecoPayz are one of the most established and trusted ewallets online. Whilst not as large as Skrill & Neteller, there is no doubt that ecoPayz is the third biggest ewallet and experiencing rapid growth.
ecoPayz was rebranded from “EcoCard” to “ecoPayz” in 2013 and launched together with their five products.
Their primary offering is the EcoAccount, which most standard users will interact with daily. It's available in dozens of countries and in over 50 global currencies.
You can add a prepaid card and a virtual ecoVirtualCard to your ecoAccount if you reside in any of the 31 EU/EEA states. The ecoCard’s are available in 3 currencies: EUR, GBP & USD
Currently, EcoPayz does not have the same level of merchant coverage as Skrill and Neteller, but they are growing all the time and have recently added a host of big names, such as Betfair, to their list of serviced merchants.
If you are interested in bonuses offered by casinos, bookmakers, forex sites, etc., you will find that ecoPayz is a popular deposit method for these transactions, whereas similar services are sometimes excluded from taking part in bonuses. You can find a handy list we put together here.
After signing on with EcoPayz, you'll find that you're offered several unique advantages over similar e-wallets. These include reduced fees, free P2P and merchant transfers, cashback, and quite a few other handy little offerings.
Yes! Not only is EcoPayz incredibly safe, but it also uses state-of-the-art security and encryption systems. We'll touch on this more below, but first, let's talk about regulation and licensing, as that's super important for trusting a company.
EcoPayz is an online e-money transfer service that was founded in the UK in 2000. They primarily serve P2P and merchant needs, though they've recently branched into cryptocurrency, forex, and online gambling.
As a UK-based company, they're regulated by the British Financial Conduct Authority (FCA). They're registered with the Information Commissioner's Office, are accredited by PSI-Py Ltd. (PSI) and the Thawte Certification Authority, and are PCI DSS compliant.
This makes them incredibly trustworthy, as they use top-tier security, which is backed by industry leaders. Add in the fact that they're regulated by the UK's financial watchdog (the FCA), and it's hard not to trust them implicitly.
With introductions finished, let's talk about the actual important bits of a review - the experience. We've given EcoPayz a thorough inspection, compared them to the competition, and now, we report to you!
While we have quite a bit of good stuff to say about them, this is ultimately up to you - so read carefully. Note that we've got fully-dedicated articles for the fees & limits and VIP subsections if you want to learn more. Today, we're talking about the bare basics.
First off, click here if you'd like to see our full EcoPayz fee and limit breakdown.
The fees charged by EcoPayz are relatively similar to both Skrill & Neteller. The main advantage in terms of the fee structure that ecoPayz possesses is that there is no charge for peer-to-peer (P2P) transfers for regular customers.
This means that you can transfer funds to friends and family around the world for free, even if you are not VIP. In contrast, Neteller and Skrill both require minimum VIP account status for free P2P transfers.
Note that classic (non-VIP, unverified) users will have a drastically different structure, laid out in the article above. Below is a summary of the different fees that ecoPayz charges for its services:
|Bank Wire Deposit Fee||0.00-7.00%||0.00-7.00%||0.00-7.00%||0.00-7.00%|
|Credit Card Deposit Fee||1.69-2.90%||1.69-2.90%||1.69-2.90%||1.69-2.90%|
|Bank Withdrawal Fee||€5.90-€10||€5.90-€10||€5.90-€10||€2.90-€7|
|Max Account Balance||€15,000||€100,000||€120,000||Unlimited|
The ecoCard prepaid Mastercard has low fees and includes free cards for VIPs. You can get a free Gold VIP upgrade when joining with eWalletBooster to guarantee that your card will be delivered at no cost.
Note that non-VIP users are unable to order the ecoCard prepaid MasterCard.
Please refer to the table below for a breakdown of the ecoCard fee structure, which is dependent on your VIP level:
|Card Issue, Activation Fee||FREE||FREE||FREE||FREE|
|Cash Withdrawal Fee||2.00% (min. €1.50)||2.00% (min. €1.50)||2.00% (min. €1.50)||2.00% (min. €1.50)|
|Currency Conversion Fee||2.99%||2.99%||2.99%||2.99%|
|Max Single ATM Transaction||€250||€500||€500||€500|
|Max Daily ATM Transaction||€1000||€2500||€2500||€2500|
|Max Single POS/eCommerce Transaction||5||8||8||8|
|Max POS/eCommerce Transactions Per Day||€750||€1500||€1500||€1500|
As mentioned above, EcoPayz offers an incredibly secure e-money transfer platform. They make use of state-of-the-art security and encryption services, ensuring your money stays where it should - in your wallet.
We mentioned their accreditations above in the "Is EcoPayz Safe?" subsection, but to reiterate:
It's worth noting that EcoPayz takes your security very seriously. If your account (somehow) becomes compromised, you'll find that their security and customer support teams will leap into action to mitigate any potential damage and keep you safe.
At the end of the day, what more can you really need?
Finally, we need to touch on the VIP system. You can find our guide to the subject here, but let's explain the basics for those who don't want even more reading. (So, you know, most people.)
Each of EcoPayz's competitors has some type of VIP programme, but they're absolutely not created equally. Luckily, EcoPayz has one of the best VIP programmes available - let's see why.
With each increased VIP tier, you'll find that more is available to you. Upon registering, you'll be granted the Classic account, and after verification, you'll get Silver VIP. But that's just the beginning - what you really want is Gold VIP, which, coincidentally, eWalletBooster makes easier than ever.
With each VIP tier, you'll gain:
Here's how progressing through each tier looks:
|Classic (Registered, Unverified, Non-VIP)||Silver (Verified, Non-VIP)||Gold (Instant w/ eWalletBooster)||Platinum||VIP|
|Requirement(s)||Instant upon registration||Instant upon verification||See below||See below||See below|
|Deposit Threshold||N/A||N/A||€5,000.00 OR connect eWalletBooster||€50,000.00||€250,000.00|
With all said and done, EcoPayz has quite a bit going for it. They offer an incredibly secure means to send money to merchants and friends alike and provide a means to invest in crypto or forex, or even gamble online! And this is all possible without the need to attach a bank account or credit/debit card, meaning you can invest and spend without pesky oversight or account inquiries.
And when you take into account that eWalletBooster cuts out all of the major pain points of early account tiers (entirely for free, at that), it's quite hard to pass up all that EcoPayz offers. Ultimately, there are very few options in the e-money transfer scene as safe, straightforward, and rewarding as EcoPayz - so sign up today with eWalletBooster to claim your Free EcoPayz joining bonus!
If you have further questions related to EcoPayz, we suggest reading the following articles:
Get ecoPayz “Gold VIP” status for FREE
Earn CASHBACK on your transfers
FREE P2P transfers (usually 1.5%)
FREE Verification (no deposit required!)
Instant verification (usually 1-5 days)
Discounted 1.49% FX Fee (usually 2.99%)
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