Payz (previously EcoPayz) is a longstanding online financial transaction company that falls under the umbrella of gaming e-wallets. They are currently under the management of British e-money issuer PSI-Pay and are regulated by the UK Financial Services Authority. Since 2000, EcoPayz has been a leading payment solution for those who enjoy playing at online casinos, and the company rebranded in May 2023 to become Payz.
Although it does offer an actual card in its services, Payz is first and foremost an e-wallet. If you have registered a Payz account, you can use it to transfer money to various online casinos or other merchants, as well as to other people directly. In order to do this, you must first load your wallet with money using a variety of deposit methods. You can then withdraw the funds from your Payz account through numerous means.
To create a Payz account, just go to their website and click the “Join us” button. As long as your country is listed in the registration form, you should be able to become a Payz member within just a few minutes. Once your account is available, you are free to begin using it for deposits, transfers, purchases, and withdrawals. Although verification is needed for some methods, we have found that the process is quite painless compared to that of other e-wallets.
Is Payz a Good Deposit Method at Online Casinos?
Payz (formerly EcoPayz) has become a popular payment method at online casinos because of its fast and secure transactions in over 50 currencies, its worldwide availability, and transaction fees that are considered to be on the lower end of the market. With the ease of use that e-wallets usually offer, data encryption protocols and swift transaction processing, Payz has become a method of choice for many casino players.
Finding an online casino that accepts Payz as a deposit method is not a difficult task since it has earned the trust of many for the many years it’s been around. Whether your choice falls with online slots, online poker, blackjack, or any other game, due to the flexibility and convenience of Payz as a deposit method, you will have no trouble finding either new casinos or renowned ones that offer your favourite games, and accept this payment option.
If you would like to know which online casino accepts Payz, you can find the list of all Payz casinos on our website above, altogether with our expert casino review for each of them, so there shouldn’t be any surprises for whichever casino you choose.
How to Make a Deposit With Payz at Online Casinos?
We’ve already talked briefly about how to create a Payz account, and you can see for yourself how user-friendly the whole process is should you decide to sign up and start using Payz for your online casino deposits.
The most popular method to get money added to your Payz account is through a major debit or credit card. Before you can use a card, however, you'll need to verify it with Payz. The verification process will begin when you attempt to make your first deposit. Payz will then make a micro-deposit to your credit card account. You will then need to follow the instructions to complete the verification process. Note that there is a 2.99% fee for credit/debit card deposits.
Other options available to certain jurisdictions include local bank transfer and instant bank transfer, both of which take longer than the aforementioned methods. If you live in a jurisdiction without any of these options available, you may also do an international wire transfer to fund your account. You can also use Neosurf, Cash2Code, EFT, ecoVoucher and other options to deposit into your account.
Although technically free, both your bank and Payz's bank will likely add some fees during the processing which will be deducted from your deposit.
Making a Deposit at a Payz Online Casino
Once your Payz account is set, you can proceed to make a deposit at an online casino accepting Payz. Here are a few simple steps to follow when making a deposit:
- Log in to your casino account and go to the deposit page
- Select Payz from the list of available payment options
- Choose the amount you want to deposit into your account and follow the instructions
- The funds should be available in your account in a matter of seconds
Payz usually sets the minimum transaction amount at 10 EUR per transaction for every type of account you have with them, whereas maximum amounts are significantly higher for Silver, Gold, Platinum and VIP users.
How to Withdraw Funds With Payz at Casinos?
First of all, you will need to make sure that casinos with Payz as a deposit method also offer it as a withdrawal method, as deposit and withdrawal options sometimes differ at an online casino. If you are certain Payz is an available withdrawal option at your chosen casino, you can proceed to make a withdrawal request:
- Head to the Cashier page on the casino website
- Pick Payz as your preferred withdrawal method
- Check the casino’s withdrawal limits and choose the amount you wish to withdraw from your account and confirm the transaction
- The funds will be transferred to your Payz account within the set timeframe, usually 2-5 days
To get money out of your Payz account, you have a variety of options. Perhaps the most popular is to spend it directly using your Payz MasterCard, which is activated after you verify either your identity or credit card. This provides you with a real MasterCard number which you can use to make online purchases directly from your Payz account.
You can also apply for the physical Payz Debit MasterCard, which will then arrive at your address after several business days. Like the virtual card, the physical MasterCard uses funds directly out of your EcPayz balance. Both cards are free to obtain, but Payz will charge you according to their fees table for use.
If you are looking to actually withdraw the funds out of your account, Payz allows you to withdraw to a bank account via wire transfer, so you'll need to provide essential bank information beforehand. Depending on your jurisdiction, you may need to provide your IBAN and/or SWIFT number. Payz will charge €10 for the withdrawal in addition to transaction fees imposed by your bank.
Disadvantages of Payz When Using It at Online Casinos
Like with any other payment method, there are certain downsides when it comes to using Payz at online casinos. We’ll list a few of the potential disadvantages here:
- Even though they might be lower than when using other payment solutions, there are still transaction fees you need to pay
- If you don’t use your account for 12 months, there is a monthly dormant account fee
- The list of casinos that accept Payz is extensive, but still not as extensive as with some other, more traditional methods
If your home currency is not supported by Payz (even though it is available for over 50 currencies), you might also need to pay the conversion fee, so you can expect your deposit to be a bit lower than you initially selected. All fees are clearly stated by the company, so there shouldn’t be any surprises there.
Should You Use Payz at Online Casinos?
E-wallet solutions are modern alternatives to traditional payment methods, so depending on your preference, Payz is a good solution for players who cherish the convenience of fast transactions and the fact that they don’t have to use a bank account or card at an online casino.
Payz is also a good choice for players who enjoy the mobile casino experience because they can navigate their payments easily through Payz app.
It is easy to find an online casino that uses Payz as a payment method through the AskGamblers website. All you have to do is pick one you like from the list provided above and sign up for your next casino adventure.