ecoPayz is one of the oldest e-wallet services in the world, entering the industry all the way back in 2000. Functionally, it is just like the dominant e-wallet platforms of today like Skrill or PayPal, serving as an additional holder of funds separate from the user’s bank account that can be used to send and receive money from online sources. Its ability to both hold money and process online transactions made ecoPayz incredibly useful for online casino players in the UK, serving as an easy and convenient all-in-one solution for their transactions.
As an e-wallet, ecoPayz has one of the simplest set-up processes of any online payment processor; simply create an account on ecoPayz' website or mobile app with an email address or mobile phone, attach a username and password, and voila—you now have an ecoPayz account.
Using ecoPayz, you can expect your transaction to be completed in real-time. Deposits should be quick, even though some casinos perform their own security checks that may delay the withdrawal procedure.
Generally, ecoPayz doesn't charge any transaction fees if the user wants to transfer funds to and from an online casino account. However, the online casino itself may have such a fee, so be sure to read up on the online casino's terms so you are aware of these charges.
On the other hand, you can expect ecoPayz to charge you for transactions made with bank accounts and credit cards. For example, ecoPayz will charge a transaction fee of up to 10% when you deposit money from a bank account to your ecoPayz account. The transaction fee drops to a more palatable 6% maximum when you make the same deposit with a credit card. Of course, these fees can and do change at times, so be sure to reconfirm with ecoPayz to get the most accurate numbers.
EcoPayz, like all digital wallets, has two key advantages when it comes to online casino payments. For one, ecoPayz gives you the option to put all of your online gambling funds into a single place to help you keep track of your bankroll. Having a separate account means that you don't have to share your bank or credit card information with online casinos.
That being said, it's important to remember that these e-wallets, like other payment methods, do have their own sets of transaction fees that may eat up a bit too much of your budget. As always, it's important to weigh your options (of which you have many) before settling on one that has the features you need and the compromises you're willing to deal with.