Payz Casinos with Instant Withdrawal (2024)
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Payz (previously known as ecoPayz) is one of the most popular electronic payment solutions in the world. The e-wallet was first introduced as ecoCard but has since changed its name a few times. Payz was first established in the UK in 2000 and is currently headquartered in Horsham, the UK. The solution quickly became popular due to the high level of security, fast transaction processing, and sheer convenience it offers. Payz is regulated by the Financial Conduct Authority (FCA) of the United Kingdom and by the Central Bank of Cyprus.
Payz is one of the longest-running e-wallet services in the world and allows its clients to send and receive money worldwide in over 50 currencies and make payments with the Payz physical and virtual cards. The e-wallet also allows you to set limits and track expenses for budgeting purposes.
Payz is a very popular payment method in the online gambling industry and is currently a possible payment method in almost 200 online casinos.
The e-wallet offers a few popular services we would like to go over. The Payz card is a convenient option that is currently only available to European customers. You can easily freeze and unfreeze such a card through a phone app, keep track of transactions via push notifications, and set limits on spending, contactless payments, in-store/online transactions, and ATM withdrawals.
Payz also offers an ecoVoucher service. This option allows you to purchase an ecoVoucher PIN from a reseller and pay online with it. Such vouchers are currently available in EUR, USD, and GBP.
Payz is known for the extremely high level of security it provides. Customer financial information is fully protected – the e-wallet does not third parties, including online gaming websites, with any sensitive details. All Payz transactions are encrypted with TLS or 256-bit SSL encryption to ensure your private information cannot be accessed by third parties.
The company also makes sure to apply various security methods to protect your account against spyware, viruses, and hacker attacks. You will get notifications when money is added to or withdrawn from your account.
Payz follows is subject to some common requirements imposed by regulators. Client money is kept separate from the company's own funds – it cannot be used for Payz own business purposes. Unlike actual banks, Payz does not lend your money to third parties which also means your money will always be immediately available for making payments or withdrawals. In the unlikely event of the company becoming insolvent, an insolvency practitioner would be appointed to return your funds and make sure you get it back swiftly.
Payz Transaction Fees and Times
The transaction fees and payment limits you would have to take into consideration when transferring money with Payz depend on your Account Level. Opening an account, as well as issuing and activating a Payz MasterCard is completely free of charge. There are no account maintenance fees as is the case with traditional banks.
There are currently 5 Payz Account Levels – Classic, Silver, Gold, Platinum, and VIP. Keep in mind that Classic account users will not be able to get a Payz card issued. You can learn more details about the specific opportunities, limitations, and fees of each of these levels below:
| Account Level | Classic | Silver | Gold | Platinum | VIP |
| Transfer to merchant (per day) | €1000 | €15 000 | €20 000 | €25 000 | €30 000 |
| Total lifetime limit | €2500 | No limit | No limit | No limit | No limit |
| Send money to other users | No | Yes | Yes | Yes | Yes |
| Withdraw funds to a bank account | No | Yes | Yes | Yes | Yes |
| Withdrawal fee | No | €5.9-10 | €5.9-10 | €5.9-10 | €2.9-7 |
| Number of credit card deposits per day | 2 | 4 | 6 | 8 | 10 |
| FX fees | 2.99% | 2.99% | 1.49% | 1.49% | 1.25% |
| Maximum account balance | No | €15 000 | €100 000 | €120 000 | No limit |
Depositing and withdrawing funds, and currency conversion are subject to certain fees. Depositing funds will cost you anywhere between 0% and 8.5% of the transferred amount. Usually, if you are depositing in Euro, you would have to pay smaller fees since you would be able to take advantage of the SEPA network that allows for less costly transactions. Currency exchange fees are anywhere between 1.25% and 2.99% while withdrawal fees are usually around 2% (or between €5.9 and €10).
The extremely fast transaction processing is one of the biggest perks of transferring money with Payz. Deposits are processed almost instantly – within 10-20 seconds. Withdrawals are also very quick – exactly how quick usually also depends on your casino but they should take no more than 48 hours.
You might also want to get acquainted with the conditions and fees associated with the Payz card.
| Account Level | Silver | Gold | Platinum | VIP |
| Card issue and activation | Free | Free | Free | Free |
| Courier delivery fee (UK) | £10 | £10 | £10 | £10 |
| Courier delivery fee (EEA) | £30 | £30 | £30 | £30 |
| Cash withdrawal (minimum charge €1.50) | 2% | 2% | 2% | 2% |
| Cash services (minimum charge of €0.8) | 4% | 4% | 4% | 4% |
| Transaction processing | Free | Free | Free | Free |
| Currency conversion | 2.99% | 2.99% | 2.99% | 2.99% |
| Card renewal | Free | Free | Free | Free |
| Card replacement | €12.5 | €12.5 | €12.5 | €12.5 |
Payz Similar Payment Methods
Popular alternatives to Payz include other well-known e-wallets such as Skrill, Neteller, and PayPal.
Skrill (formerly known as Moneybookers) was established in 2001 in the UK and is owned by a subsidiary of the Paysafe Group. Skrill operates under an FCA license and was one of the first e-wallets offered by online casinos.
Neteller was created in 1999 and is also owned by the Paysafe Group which means it also operates under an FCA license. It is one of the most popular alternatives among online gambling enthusiasts and forex traders.
PayPal is one of the most popular – and oldest – e-wallets in the world and was created as far back as 1990. It quickly became a popular alternative to the traditional payment solutions of the time because of the faster transaction speed and the high level of security it provided.
| Payz | Skrill | Neteller | PayPal | |
| Languages | 10 | 40+ | 15 | 25+ |
| Currencies | 54 | 40 | 28 | 26 |
| Deposits | Instant | Instant | Instant | Instant |
| Withdrawals | Up to 48 hours | 1-5 business days | 1-5 business days | 1-5 business days |
Payz Company Milestones
Payz was first introduced as ecoCard in 2000 but changed its name to ecoPayz in 2013. The company has recently been rebranded as just Payz. In 2009, the company introduced its iPhone app which has since been upgraded a few times. Currently, they offer both Android and iOS apps. EcoPayz is a MasterCard Principal Member and is in collaboration with Western Union.
The e-wallet has won awards such as Best Prepaid Card Design and has been nominated Best Payment Solutions at the Global Gaming Awards.
How to open a Payz account
Opening a Payz account is an easy procedure.
- Go to the e-wallets website (payz.com) and click on the “Open an Account” button in the right-hand corner.
- Enter a valid e-mail address, choose a username, and set a secure password. Your password should be at least 8 characters in length – if you are having trouble choosing one, check out Payz's security guidelines.
- Choose your country and your account's main currency. You can currently choose between over 50 currencies.
- Verify your e-mail by clicking on the verification link sent by Payz.
- Provide your personal information – first and last names, date of birth, home address, profession and income, and phone number. You will also be asked to state how you will be using Payz's services. Complete a Captcha and go through the Terms and Conditions before you agree to them.
- Verify your account by providing some documents – ID, proof of address, and sometimes bank statements, tax declarations, or other documentation that proves your source of income. The verification process is usually fairly fast and if one of your documents is considered invalid, you will be instantly notified. The Payz customer support team works 24/7 and you should feel free to direct any additional questions about account openings to them.
- Fund your account via bank transfer, credit/debit card, or another e-wallet. When you are first funding your account, only a small amount of money will be deducted. Check your banking statement, see how much money has been deducted, and enter that amount in the required field to confirm that this is the correct source of money you will be using to fund your account.
- Fund your casino account by logging into it and clicking on the Deposit option. Choose Payz as the payment solution. Enter your Payz account number and choose if you would like to transfer money from your credit/debit card, or from your Payz account balance. Verify the transaction in your Payz account at your chosen online casino.
Payz Market Coverage
Payz currently offers services in 159 countries making it a truly global payment solution. It is one of the most popular electronic payment systems in the world and is used by millions of clients. Online gaming fans in particular prefer Payz because of the extremely fast transaction processing speed and the high degree of safety it provides.
Payz target markets include the UK, Sweden, Netherlands, Norway, Finland, Germany, Spain, and Italy. The payment solution is also very popular in Austria, Brazil, India, Ireland, Japan, Singapore, and Poland.
Keep in mind, however, that the payment method cannot be used to fund accounts in online casinos in countries that ban online gambling or have a more ambiguous attitude toward it. This includes the United States, Algeria, Yemen, Belarus, Kazakhstan, Afghanistan, Vietnam, Hungary, Turkey, and Israel.
Payz is a safe and convenient way to transfer money to people and retail services all over the world while also avoiding high transaction fees. This e-wallet is known for its fast transaction processing times, the high level of security it provides, and the excellent, multilingual 24/7 customer support. Opening and funding an account is a fairly easy and uncomplicated procedure, and there are a few additional services – like prepaid cards and ecoVouchers – that make Payz an even better choice for people that want to manage their finances and transfer money hassle-free.
