Established over two decades ago, ecoPayz is among the first electronic wallets in the world. Also called PsiPay, this method of banking has grown and diversified greatly since its inception. It began as an alternative to traditional modes of payment such as Visa and MasterCard. There are two categories of PsiPay: the EcoCard prepaid account (which uses a primary account called EcoAccount) and EcoVirtualCard (a virtual version of the EcoCard). Gambling sites that accept this payment method are called ecoPayz casinos.
The e-wallet is quite popular in several countries around the world. If you are looking for casinos that allow ecoPayz in Canada, here are some reliable options:
- Wild Tokyo
- Spin Samurai
- National Casino
How ecoPayz Works
ecoPayz (note that it is not called ecoPays) works like any other e-wallet. However, it is specially designed for the gaming industry’s transactions. A player must sign up on the platform before starting to use it for payments. This allows the e-wallet to be linked to your credit card, bank account, or other sources of funds.
Before making a deposit or withdrawal at an online casino using this platform, a player should first register. The process is quite fast and simple. Provide your details, including a username and password. You can use several payment methods to add money to the account. Some of them are credit cards, wire transfer, and eCheck transfer.
To withdraw your funds, select ecoCard from the list of payments. Enter the amount you wish to get. The casino will transfer the funds to your ecoAccount. While casinos do not charge withdrawal fees, Psi-Pay does depending on your level of service.
Do Online Casinos Take Eco Pay Deposits
Most online casinos take ecoPayz deposits. It is not only famous among gamblers in EU countries like the UK and Germany but also in other nations outside Europe. Canada, Australia, and New Zealand are among the jurisdictions that accept PsiPay.
However, the service is restricted in some countries. For example, US punters cannot use it to make casino deposits. It is important to find out if your country’s regulation allows for deposits to gambling sites using this method.
Nevertheless, casinos accepting ecoPayz are becoming more popular daily. The platform is always looking for better ways to increase its market share. If there exist restrictions in your country concerning this mode of payment, choose an alternative option and remain updated. You never know when your country will permit it.
Advantages and Disadvantages of Using PsiPay
Just like any other payment mode, ecoPayz has its benefits and disadvantages. Here are the reasons why you should use it for depositing and withdrawing funds from your casino:
- It is a safe and secure deposit and withdrawal method. Using PsiPay reduces the risk of fraudsters getting your personal details. Players’ information is secured using SSL and TLS protocols.
- It’s easy to use the method. You can access your account using a desktop or mobile app. Also, making deposits is one of the easiest things to do.
- The e-wallet works like a bankroll, helping you to keep a record of your spending habits.
- Deposits reflect immediately on the casino account. Therefore, you can begin playing right after making a deposit.
- The site doesn’t check your credit card when you are opening an account.
- The digital e-wallet has wide acceptance among online casinos.
- Gamblers can use several currencies.
- Deposit and withdrawal limits are high.
- You can top up your account using several banking methods such as prepaid cards and bank wire transfers. Therefore, gamblers from several countries in the world can access it.
This method presents a few downsides. Here are some disadvantages of using PsiPay to do transactions at the casino:
- The player will incur some fees just like when one is using alternative methods.
- Sometimes, withdrawals can take up to two days for the client to receive their money.
- Accounts with this method of payment have several levels. Therefore, it can be a long process to update from one level to the other. However, if you choose the correct option at the beginning, you’ll not have this problem.
- Some countries do not have the service.
Do Casinos Offer ecoPayz Bonuses
Like eCheck casinos, gambling sites that accept ecoPayz do not offer bonuses just because a gambler is using PsiPay. It is the responsibility of the player to choose a reputable casino that offers great bonuses and promos. Also, it is important to carefully read the accepted payment options at your gambling site of choice.
Some casinos, though, offer deposit bonuses and other rewards depending on the banking option you choose to use. Others even have no deposit bonuses. Often, these bonuses are meant to lure new players. Of course, high rollers and loyal gamblers can also access special offerings when using PsiPay. Bonuses usually come in the form of:
- Free spins
- Deposit match bonus
- Extra money (these come under refer-a-friend bonuses, which are not as common today)
However, you can enjoy all the latest offers after becoming a Club ecoPayz member. In this respect, using Eco pays. The partnership between the e-wallet service and MasterCard helps players access MasterCard’s offers and promos. The gambler has to use their ecoCard or ecoVirtualCard to do this.
Also, PsiPay has partnered with several organizations that offer many annual promos for players to win prizes. These promotions can be visible from your email or upon your logging into the account. It depends on how you’ve set up your settings. This partnership also avails members of special monthly promotions.
Why Some Casinos Refuse ecoPayz
You may be wondering why some casinos do not accept such a convenient, safe, and quick service. Well, every banking method has its disadvantages. For ecoPayz, some countries do not allow players to pay deposits using eco. Since casino operators are looking for a greater catchment area, they would go for options that allow punters from all countries to access their services.
How to Use ecoPayz
Using ecoPayz for deposits and withdrawals is quite simple. Here the steps for depositing:
- Open the ecoPayz website.
- Register an account. Provide your full details, including your name and bank information.
- Verify the information you provided.
- Open the website of an online casino of your choice. The site must support this mode of payment.
- Choose the ecoPayz deposit method.
- Enter the amount you wish to deposit.
- This takes you to the PsiPay site. Enter your ecoPayz login details (your username and password) to confirm the deposit.
- Select from the list of deposit options available: ecoCard, ecoAccount, or ecoVirtualCard.
The withdrawal procedure is just as seamless as the deposit process. Note that you can only withdraw using an ecoCard or ecoAccount. You can get your funds instantly or two days after withdrawing: it depends on the amount. The good thing is that you won’t occur any withdrawal fees when using this payment option.
Our ecoPayz review concludes that this e-wallet service is one of the best banking options available to gamblers across the world. That is why there are several ecoPayz casinos online, with more springing up daily. One of the advantages of using the platform is that Eco pays out most withdrawals quickly. This is what many players are looking for.
However, the digital electronic wallet has some downsides. Some countries restrict the payment processor. Besides, some withdrawals take longer to reach players. However, the advantages of using this service surpass its disadvantages.