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ecoCard Betting Sites

What Is This Banking Option?

EcoCardLike many of its competitors, ecoCard has been around since the turn of the century, and ecoCard is one of the oldest e-commerce providers to offer prepaid or virtual payment methods. Also like the others, it has a history of premise changes and an evolution of the services provided to its customers.

ecoCard was created and launched in 2000 and had a relatively quiet seven or eight years providing a simple digital payment solution to its original online customer base.

PSI-Pay Ltd is the owner of Eco products aptly named as “eco” is short for economical. ecoCard went through regulatory processes in 2008 by the FCA under the Financial Services and Markets Act of 2000 and the EU Directive on electronic money. The Financial Services Authority also officially approved and authorized PSI-Pay as an electronic money issuer that same year.

2009 marks the beginning of ecoCard’s relationship with MasterCard as PSI-Pay became a principal member of the MasterCard group with approval to issue branded and non-branded cards as it still does today.

Another integration with a prominent company came in 2009 as it was also the year that ecoCard became the first online financial institution of its type to launch an iPhone application through Apple.

From that point on, it’s been a never-ending progression of new services and some minor rebranding.

Customer Service was expanded in 2010 to provide seven-day a week, 24-hour a day service in multiple languages marking ecoCard’s global expansion. That led to a focus on businesses and solutions to not only accept and send payments but to provide a new way to quickly and effortlessly pay staff.

Due to the expansion of business services, PSI-Pay recognized that the ecoCard designation could be a bit misleading as the company was now offering so much more than virtual card or wallet services, so in 2013, ecoCard was rebranded as ecoPayz.

ecoPayz is the all-encompassing name for all of the eco products that are now on the market including the ecoVirtualcard that was introduced in 2014.

How to Get Started

Before we get into the account registration and use, it’s important to reiterate that the ecoCard is only available in 34 countries. The card is an actual physical card that acts like a prepaid debit card but doesn’t have to be preloaded. It’s linked to the customer’s ecoAccount, and funds are pulled from there for purchasing or transfer.

The ecoAccount is an online wallet. Funds are transferred into the wallet, and then money is taken out of the wallet for purchases or money transfers. It’s a mere money in, money out concept and the wallet can be filled with a variety of ways.

  • ecoVoucher
  • Visa
  • Local Banking
  • InstantBank
  • GoCoin
  • NeoSurf
  • SafetyPay
  • Paysafecard
  • SofortUberweisung
  • TrustPay
  • Fast Bank Transfer
  • AstroPay Card
  • Giropay
  • MisterCash
  • iDeal
  • Multibanco
  • Lobnet
  • Yandez Money
  • POLi
  • Postbank
  • DinPay
  • SporoPay
  • AstroPay Direct
  • Moneta.ru

Ironically, some of these methods like the fast bank transfer, POLi, Sofort, and Paysafecard are also accepted directly by some online bookmakers. So, for gambling purposes, there wouldn’t be a need to move funds from one to another and then into a player’s betting account. However, ecoAccounts may provide an easier way to cash out as we know that Paysafecards are used for depositing only. Some of these methods have depositing fees attached, and some are free, but we’ll get into ecoPayz’s cost structure in just a bit.

Whereas ecoCards are only issued in 34 countries, ecoAccounts are more widely available, and residents in the following areas can easily open an account for free and with no credit check or bank account required.

Andorra, Anguilla, Antarctica, Antigua and Barbuda, Argentina, Aruba, Australia, Austria, Bahamas, Bahrain, Bangladesh, Barbados, Belgium, Belize, Bermuda, Bolivia, Bonaire, Bosnia and Herzegovina, Brazil, British Indian Ocean Territory, Bulgaria, Cameroon, Canada, Cape Verde, Cayman Islands, Chile, Christmas Island, Colombia, Comoros, Costa Rica, Croatia, Curaçao, Cyprus, Czech Republic, Denmark, Dominica, Dominican Republic, Ecuador, Egypt, El Salvador, Equatorial Guinea, Estonia, Ethiopia, Falkland Islands, Faroe Islands, Fiji, Finland, France, French Guiana, French Polynesia, French Southern Territories, Georgia, Germany, Gibraltar, Ghana, Greece, Greenland, Grenada, Guadeloupe, Guernsey, Guinea-Bissau, Guyana, Honduras, Hong Kong, Hungary, Iceland, India, Indonesia, Ireland, Isle of Man, Israel, Italy, Jamaica, Japan, Jersey, Jordan, Kuwait, Latvia, Liechtenstein, Lithuania, Luxembourg, Macao, Macedonia, Malaysia, Maldives, Malta, Martinique, Mauritania, Mauritius, Mayotte, Mexico, Moldova, Monaco, Montenegro, Montserrat, Namibia, Nepal, Netherlands, Netherlands Antilles, New Caledonia, New Zealand, Nicaragua, Norfolk Island, Norway, Oman, Panama, Papua New Guinea, Paraguay, Peru, Philippines, Pitcairn, Poland, Portugal, Qatar, Réunion, Romania, Rwanda, Russia, Saint Helena, Saint Kitts and Nevis, Saint Lucia, Saint Martin, Saint Pierre and Miquelon, Saint Vincent and the Grenadines, Samoa, San Marino, Sao Tome and Principe, Saudi Arabia, Serbia, Seychelles, Sint Maarten (Dutch), Slovakia, Slovenia, Solomon Islands, South Africa, Sri Lanka, Suriname, Svalbard and Jan Mayen, Sweden, Switzerland, Taiwan, Thailand, Tonga, Trinidad and Tobago, Turkey, Turks and Caicos Islands, Tuvalu, Ukraine, United Arab Emirates, United Kingdom, Uruguay, Vatican City State, Venezuela, Virgin Islands (British), Wallis and Futuna, and Western Sahara.

Residents from any of the following areas are entirely restricted from holding any ecoPayz account, not just the ecoCard, but any account:

Afghanistan, Albania, Algeria, Armenia, Angola, American Samoa, Azerbaijan, Belarus, Burkina Faso, Burundi, Benin, Brunei, Bhutan, Botswana, Belarus, Cambodia, Chad, Congo (Central African Republic), Cote d’Ivoire, Cameroon, Cuba, Djibouti, Equatorial Guinea, Eritrea, Ethiopia, Gabon, Gambia, Guatemala, Guinea-Bissau, Haiti, Iraq, Iran, Kazakhstan, Kenya, Kyrgyzstan, Kiribati, Korea, Lao People’s Democratic Republic, Lebanon, Lesotho, Liberia, Libyan Arab Jamahiriya, Madagascar, Malawi, Mali, Micronesia, Morocco, Mozambique, Myanmar, Nauru, Niger, Nigeria, Niue, Palestinian Territory, Senegal, Sierra Leone, Singapore, Somalia, Spain, Sudan, Swaziland, Syrian Arab Republic, Tajikistan, Tanzania, Togo, Tokelau, Tunisia, Uganda, United States, Vanuatu, Vietnam, Western Sahara, Yemen, Zambia, and Zimbabwe.

We want to point out that the United States is on the prohibited list and that’s because of the gambling laws that are enforced in the country. As ecoPayz accounts are widely used for online gaming with casinos and sportsbooks, the company opted to avoid any issues by disallowing Americans from using any of its services.

ecoAccounts can be set up with the customer’s choice of currency: EUR, GBP, USD, ARS, AUD, BAM, BGN, BRL, CLP, CAD, COP, CHF, CNY, CRC, CZK, DKK, GEL, HKD, HUF, ILS, INR, ISK, JPY, MDL, MOP, MYR, MXN, NIO, NOK, NZD, PAB, PEN, PLN, RON, RSD, RUB, SEK, SGD, THB, TRY, UAH, UYU, UZS, VEF, ZAR.

For allowable areas, once the ecoAccount is established and money transferred into the wallet through credit card transfer, bank transfer or any of the listed methods, money can quickly be sent online without having to input personal or financial information.

After the regular ecoAccount is finalized and ready to go, an ecoCard account can be set up. However, ecoPayz operates on a VIP-type system that’s five different levels starting from Classic and on up through Silver, Gold, Platinum, and then VIP. Each level has a unique fee structure.

Everyone is opted in at the Classic level but must be at Silver level to apply for the ecoCard. To advance to that level, all that’s required is simple identity verification, that involves providing two pieces of ID.

ecoCards are backed by Mastercard so they can be used at ATMs, online businesses and services, and at millions of worldwide retail locations. Whereas ecoAccounts are available in a wide range of currencies, ecoCards are issued in EUR, GBP, and USD only.

The 34 SEPA countries that allow for ecoCard issuance are:

Austria, Belgium, Bulgaria, Croatia, Cyprus, Czech Republic, Denmark, Estonia, Finland, France, Germany, Greece, Hungary, Iceland, Ireland, Italy, Latvia, Liechtenstein, Lithuania, Luxembourg, Malta, Monaco, Netherlands, Norway, Poland, Portugal, Romania, San Marino, Slovakia, Slovenia, Spain, Sweden, Switzerland, and the United Kingdom.

Using ecoCard for Online Sports Betting

Whether it’s referred to as the ecoCard or under the all-encompassing ecoPayz designation, some prominent sportsbooks do provide for ecoPayz transactions, but it’s not as widely accepted as some similar wallet providers like Skrill and Neteller.

Books like Bookmaker, Coral, and Sports Interaction specifically note ecoCard payments and some like Intertops, Pinnacle, and Betway list ecoPayz in general.

One of the positives about using ecoCard as opposed to Skrill or Neteller is that bookmakers don’t tend to take away bonus privileges for ecoPayz accounts. Skrill and Neteller users may find that they can’t accept and benefit from welcome bonuses or other awards programs due to their funding choice.

ecoCard is a good overall option for online betting as it’s private, quick, and easy to use. Personal banking information doesn’t need to be disclosed, so it does at a measure of security.

Fees

You knew they were coming, and here they are and apply to all three ecoPayz products, ecoAccount, ecoCard, and ecoVirtualcard.

As we’ve mentioned, some fees may vary depending on the VIP ecoPayz account level.

Here are some basic charges that are posted in US dollars.

1. ecoAccount

This is the overall account, so we’ll compare the Classic (entry level) status to the Silver status that’s required for an ecoCard as well as look at the benefits for the top level with is VIP status.

The deposit minimum and maximum amounts are for a single transaction.

Classic (new registrations; no identity verification completed):

Deposit – Bank Wire (including EFT and instant) – 0.00 – 7.00%
Deposit – Credit Card – 1.69 – 2.90%
Deposit – ecoVoucher – 0.00 – 2.90%
Deposit – alternative currency – free

Deposit Minimum – Bank wire – $11.20
Deposit Maximum – Bank wire – $1,120.24

Deposit Minimum – Credit or Debit card – $11.20
Deposit Maximum – Credit or Debit card – $224.05

Deposit Minimum – ecoVoucher – $11.20
Deposit Maximum – ecoVoucher – $1,120.24

Deposit Minimum – alternative currency – $11.20
Deposit Maximum – alternative currency – $1,120.24

Transfer – to or from ecoPayz merchant – free – maximum $1,120.24
Transfer – to another ecoAccount – not available for Classic level members

Withdrawal fee – to bank account – not available for Classic level members

Silver (identity verification completed):

Deposit – Bank Wire (including EFT and instant) – 0.00 – 7.00%
Deposit – Credit Card – 1.69 – 2.90%
Deposit – ecoVoucher – 0.00 – 2.90%
Deposit – alternative currency – free

Deposit Minimum – Bank wire – $11.20
Deposit Maximum – Bank wire – $16,803.60

Deposit Minimum – Credit or Debit card – $11.20
Deposit Maximum – Credit or Debit card – $1,120.24

Deposit Minimum – ecoVoucher – $11.20
Deposit Maximum – ecoVoucher – $1,120.24

Deposit Minimum – alternative currency – $11.20
Deposit Maximum – alternative currency – $16,803.60

Transfer – to or from ecoPayz merchant – free – maximum $11,202.40
Transfer – to another ecoAccount – sender pays 1.50% (minimum 0.56 USD) – maximum $1,680.36

Withdrawal fee – to bank account – $6.61 – $11.20
Withdrawal minimum – $5.60
Withdrawal maximum – $560,120.00

VIP

Deposit – Bank Wire (including EFT and instant) – 0.00 – 7.00%
Deposit – Credit Card – 1.69 – 2.90%
Deposit – ecoVoucher – 0.00 – 2.90%
Deposit – alternative currency – free

Deposit Minimum – Bank wire – $11.20
Deposit Maximum – Bank wire – $156,833.60

Deposit Minimum – Credit or Debit card – $11.20
Deposit Maximum – Credit or Debit card – $2,800.60

Deposit Minimum – ecoVoucher – $11.20
Deposit Maximum – ecoVoucher – $1,120.24

Deposit Minimum – alternative currency – $11.20
Deposit Maximum – alternative currency – $156,833.60

Transfer – to or from ecoPayz merchant – free – maximum $22,404.80
Transfer – to another ecoAccount – free – maximum $4,480.96

Withdrawal fee – to bank account – $3.25 – $7.84
Withdrawal minimum – $5.60
Withdrawal maximum – $560,120.00

2. ecoCard

There isn’t a Classic level associated with the ecoCard as customers need to at least be designated at Silver status, so we’ll compare Silver, on the lower end, to VIP that is the highest to attain.

Silver

ATM Transactions
Maximum amount – single withdrawals – $250
Maximum amount – daily withdrawals – $750
Maximum amount – monthly withdrawals – $5,000
Maximum number of daily withdrawals – 3
Cash withdrawal fee – 2.00% (minimum of $1.50 per transaction)

Point of Sale or E-commerce Transactions
Maximum amount – single transaction – $1,000
Maximum amount – daily transactions – $2,000
Maximum amount – monthly transactions – $15,000
Maximum number of daily transactions– 5
Transaction processing fee – free

Cash Services (money orders, traveler’s checks, gaming, and lottery) – 4.00% (minimum charge of $0.80)

VIP

ATM Transactions
Maximum amount – single withdrawals – $500
Maximum amount – daily withdrawals – $4,000
Maximum amount – monthly withdrawals – $30,000 (includes POS and ECOM)
Maximum number of daily withdrawals – 3
Cash withdrawal fee – 2.00% (minimum of $1.50 per transaction)

Point of Sale or E-commerce Transactions
Maximum amount – single transaction – $2,500
Maximum amount – daily transactions – $4,000
Maximum amount – monthly transactions – $30,000 (includes ATM)
Maximum number of daily transactions– 8
Transaction processing fee – free

Cash Services (money orders, traveler’s checks, gaming, and lottery) – 4.00% (minimum charge of $0.80)

3. ecoVirtualcard

With the ecoVirtualcard, customers still must have attained Silver status, and ATM transactions are not included as this is a pin-based method with no actual card issued to the customer.

Silver
Card issue and activation – $2.30
Maximum amount – single transaction – $700
Cash services (money orders, traveler’s checks, gaming, etc.) – 4.00% (minimum charge $0.80)
Transaction processing – free
Maximum number of cards per day – 3
Maximum number of cards per month – 30

VIP
Card issue and activation – $2.30
Maximum amount – single transaction – $1,000
Cash services (money orders, traveler’s checks, gaming, etc.) – 4.00% (minimum charge $0.80)
Transaction processing – free
Maximum number of cards per day – 5
Maximum number of cards per month – 40

Currency Conversion:

ecoPayz offers currency conversion for 2.99%, and this will be applied when conversion is required for a transaction.

Important Details

ecoCard is just like any other e-wallet and is easily facilitated online with bookmakers. The Mastercard version of the ecoPayz account has a regular card number just like any other credit or debit card but, as it pulls from the main ecoAccount, it has an easier acceptance rate.

As far as imposed limits, they will vary depending upon the bookie, but some indicate that maximum limits are determined by ecoPayz. As those caps are set based on the VIP status, they will vary for everyone.

Bookmaker has a $1,000 ceiling on ecoCard deposits and withdrawals, but Coral has a small minimum of just £5 and no maximum set by the betting site. Using ecoCard on Pinnacle provides for one of the lowest minimum withdrawals of just €10 whereas other methods are €25 or even €50, but Pinnacle also charges €12 for every payout.

In Canada, ecoVouchers are widely used, but Sports Interaction does note that it accepts the ecoCard as well. Similar to Pinnacle, it has a cash out fee that’s set at 3% of the total payout.

The good thing about ecoCard, though, is that it can be used for both deposits and withdrawals unlike credit cards and some prepaid voucher methods that are designated as deposit-only.

As far as turnaround time, ecoCard deposits are nearly instant, and withdrawals could technically be just as fast, but players need to wait for the bookmakers to approve and facilitate the transfer.

The benefits

Benefits of using it in conjunction with sports betting

The downsides

Taking the Service to the Next Level

As we’ve mentioned a few times now, ecoCard users are put into a VIP loyalty program straight off the bat. The VIP program does offer some benefits to more dedicated ecoCard users such as higher transaction and ATM limits as well as lower withdrawal fees.

ecoPayz also offers various promotional programs for their wallet holders that vary throughout the year. There is a dedicated promotions area that can be accessed by users that are signed into their ecoPayz account.

Additionally, ecoPayz continues to evolve and add new products to accommodate current customers and attract new. ecoVouchers have just recently been added. They are very similar to Paysafecards in that they can be purchased at retail locations with cash and then used online for sports betting with just a simple pin input.

ecoVouchers are available in more currencies than the ecoCard including EUR, USD, GPB, CAD, INR, ZAR, VPY, CZK, and PLN.

Bookmakers Embrace This Banking Option

Sportsbooks like Betway, Coral, and Pinnacle have ecoCard on their list of financial options as it does provide an easy method for their customers. Unlike some other wallet providers, ecoPayz customers don’t need to have a bank account linked to their ecoAccount, so this method reaches a wider customer base.

Fee-free transactions provide the sportsbook or casino with fewer expenses, and ecoCard holders are more apt to have their deposit request honored without difficulty.

Even Bookmaker, that does service American punters, lists ecoCard as an option and offers transactions in US dollars but does specifically state that residents of the United States cannot use this method of account funding.

Questions and Answers

What are the restrictions imposed by ecoCard for new wallet holders?
ecoCard account holders must be at least 18 years of age and be a resident in a location where ecoPayz permits registration and use of its services. ecoCard is only issued to customers in the 34 SEPA regions, but ecoAccounts have a longer list of serviced areas.

If I deposit to a player’s account using ecoCard, can I withdraw using another method?
It never hurts to ask a betting provider but, typically, they require players to use the same approach for depositing and withdrawing. In some cases, they’ll use bank transfers as an alternative payout option.

Why would I use ecoCard if I have to fund my wallet using my bank account or credit card anyway?
Technically ecoCard holders don’t need to use bank accounts or credit cards for funding their ecoAccounts. There are now alternative methods like Paysafecard, Sofort, POLi, GoCoin, and SafetyPay to name a few, that can be selected. Even customers who do use traditional banking methods to supply their ecoAccount wallet have additional security in place as they, in turn, don’t need to disclose their financial information to the sportsbooks or retailers they’re paying.

Conclusion

As one of the oldest wallet providers, ecoPayz does have a good product line in place. The website can be a bit confusing since there are so many different products offered and each has geographical restrictions which make it quite difficult to figure out what is available to a new customer.

The products are good, but the presentation of the available services could be much better. We wrote ecoPayz’s customer service department to ask for a comprehensive list of services and corresponding locations, but they said they would only provide it by one country at a time.

So, all in all, ecoCard a real viable resource for online betting purposes, but is very location-regulated. We suggest that potential new customers contact ecoPayz and provide them with their home location to receive the most current list of available services. Additionally, it’s helpful to initially research preferred bookmakers to make sure ecoCard is an approved provider and is included in their financial menu as well.