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EcoPayz Review by Ewallet Specialist

At EwalletUpgrades, we’re big fans of EcoPayz. They’ve been a part of the e-wallet scene since 2000 and have gained an excellent reputation over the years. But there’s a bit of confusion out there regarding what exactly EcoPayz is and what they offer when compared to services like Skrill or Neteller.

So our job today is to break down everything you need to know about EcoPayz. We’re going to start with a quick history and breakdown of who regulates and accredited them, and then we can move into a more traditional review, compete with the pros and cons of EcoPayz’s services.

EcoPayz 101

Let’s start with the simple stuff. You know – what is EcoPayz, are they safe and secure, and are they a legitimate company that you should trust with your money? After that, we’ll get into reviewing the individual components of EcoPayz – but first, basics.

What is EcoPayz?

EcoPayz is an online e-wallet service that’s been in business since 2000. Their primary focuses lie in P2P and merchant transactions, foreign currency exchange (forex), buying and selling cryptocurrency, and online gambling.

They’re a U.K.-based company, meaning that they’re regulated under the Financial Conduct Authority (FCA) and are registered with the Information Commissioner’s Office. Additionally, EcoPayz has accreditations from PSI-Py Ltd (PSI), the Thawte Certification Authority, and is PCI DSS compliant.

Is EcoPayz Safe?

EcoPayz is incredibly safe. As mentioned above, they’ve been thoroughly vetted by a number of industry leaders. Its website uses Secure Sockets Layer (SSL) technology to encrypt its entire site and offers two-factor authentication (2FA) for even further layers of security. 

With all said and done, EcoPayz is not only safe but one of the most secure payment processing services you can use online for a number of services.

Is EcoPayz Legit?

EcoPayz is legitimate. They’ve been regulated under the United Kingdom’s FCA since 2008 and have worked tirelessly to ensure they offer the best possible services. While they’ve fallen a bit out of the limelight due to several similar services popping up, they’re still very popular in the United Kingdom and European Economic Area (EEA).

While they don’t operate within the United States (and several other countries, such as Sudan, China, and Mongolia), they’re widely available across Europe and South America, most of Africa and Asia, and Australia. 

EcoPayz Review

And now, the truly crucial stuff. We’re going to start with a basic rundown of the EcoPayz VIP programme, fees, and security, and then we’ll wrap it up with a simple pros and cons list to make things really clear. 

First up are the EcoPayz fees.

Fees

For a full breakdown of all of EcoPayz’s fees, you can navigate to our EcoPayz Fees article. It’s also worth noting that users who connect their EwalletUpgrades (EWU) and EcoPayz accounts gain immediate access to EcoPayz Gold, including the raised limits and reduced fees that come along with it.

But for those who either refuse to read or just want it spoon-fed to them, these are the basic fees for all EcoPayz users:

  1. VIP (Gold and above) users will always have lower fees than Classic (unverified) and Silver (verified) users.
  2. Registration for all users is entirely free.
  3. Verification costs €10.00 for those who verify traditionally. Connecting your EWU account removes that fee, making verification free. Click here to sign up/ link your account through EwalletUpgrades.
  4. Merchant and P2P transactions are free for Gold users and above.
    • (1.5% for Silver users, unavailable for Classic users.)
  5. €1.50 per month fee for accounts inactive longer than one calendar year (12 months).
  6. Currency conversion fees range between 2.99% (Classic and Silver) and 1.25% (VIP).

VIP Programme

The EcoPayz VIP Programme is designed to reward regular users for just… using EcoPayz as usual. There are five main tiers – their requirements are listed below:

  • Classic: Immediately gained upon registration without verification.
    • This tier is highly limited in what it can and cannot do. Visit our EcoPayz Basics: VIP article for more information.
  • Silver: Gained upon verifying your account.
  • Gold: Requires €5,000.00 to be deposited.*
    • *Users who connect their EWU and EcoPayz accounts gain instant access to EcoPayz Gold. Click here to do so.
  • Diamond: Requires €50,000.00 to be deposited.
  • VIP: Requires €250,000.00 to be deposited.

As your VIP tier increases, you gain access to:

  1. Lowered fees on deposits, withdrawals, and currency conversion.
  2. Higher deposit and withdrawal limits.
  3. Free merchant and P2P transactions.

And much more.

Security

As mentioned above, EcoPayz is incredibly secure. They encrypt each section of their site, including the secure payment gateway, ensuring that your funds are as secure as possible along their entire journey.

They require all users to verify their account before being able to use most features (other than depositing), ensuring that in-platform transfers are always going to real people. And once you’ve added 2FA  to your account, it becomes nearly impossible for others to access your account without your approval.

In short, EcoPayz is an excellent option to keep your money secure while having access to it in a number of countries and for a wide range of applications.

Pros & Cons

EcoPayz Pros: 

  • Extremely fast payment processing (usually instant)
  • International transactions and currency conversion
  • Excellent customer service.
  • Simple to use.
  • eCommerce payment gateway for countless online merchants.
  • Top-notch security and encryption.
  • Extremely reasonable fees on most transactions.
  • Generous VIP programme.

EcoPayz Cons:

  • The prepaid MasterCard is only available in the EEA and EU, though this affects a very small portion of the EcoPayz user base.
  • The mobile app still requires some work.

Final Verdict

With all said and done, EcoPayz is an excellent service for several types of transactions. Whether you want to trade foreign currency, buy and sell crypto, send and receive money with friends, or use it for online merchant transactions, EcoPayz is a wonderful choice. You can do all of this in an encrypted, highly-secured environment and have most transactions processed near-instantly.

While they’re not quite as recognized in some markets as other similar services, EcoPayz is one of the best options for users in the U.K., EEA, most of Asia and Africa, and across South America and Australia. Ultimately, EcoPayz offers so much when paired with EwalletUpgrades that it’s really hard to pass up. Sign up to EcoPayz or just link your account to EwalletUpgrades using the form below.

We are an approved Payz partner, which means when you sign up to us we are able to provide you with many benefits that you can see listed below.

  • Get Payz “Gold VIP” status for FREE
  • FREE P2P transfers (usually 1.5%)
  • FREE Verification (no deposit required!)
  • Instant verification (usually 1-5 days)
  • Discounted 1.49% forex fee (usually 2.99%)

Click the button below to register at Payz (or skip to step 2 if you are already registered):

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