Payz Review – Safety first!
Payz is a popular e-Wallet that also includes a prepaid debit card. It debuted in 1998 under the name Ecocard, and since then has gone through two rebrands – first as ecoPayz and now as Payz.
In terms of security, Payz is a regulated financial services provider that is accredited by the Financial Conduct Authority (FCA), as well as other European financial service regulators. As such, it is obliged to protect its customers by complying with Payment Card Industry (PCI) and Data Security Standards (DSS) regulations. It also employs safeguarding, a process that separates customer funds from its own.
Furthermore, your account is protected through fingerprint ID or facial recognition, with the option of even more security through two-factor authentication (2FA). The companion app adds further security settings, such as spending limits and easy card freezing and unfreezing.
Last, but definitely not least, all Payz online casinos we promote here at CasinoHawks have a gambling licence issued by the UK Gambling Commission. This adds an extra layer of protection for customers, as licensed casinos need to adhere to the commission’s strict standards that, among other things, cover the way the casino handles customer funds.
| Did You Know? |
|---|
| Payz will never ask you to disclose any personal information or login details via email. If you receive an email from someone stating that they are from Payz and requesting this information, it’s most likely a phishing email and should be reported to customer support via the form on the Payz website. |
How to use Payz at Online Casinos?
Payz offers five different account types to sign up for – Classic, Silver, Gold, Platinum and VIP. The difference between these cards boils down to spending limits and certain fees, and whichever your choice registering an account is free. Once you have a Payz account choosing this as your payment option at your online casino is a straightforward affair:
- Register your Payz account if you haven’t
- Go to your online casino, log into your account and choose Payment Settings
- Go to Payment Methods and click the drop-down menu.
- Choose Payz
Are there any fees when depositing and withdrawing at a Payz Casino?
The deposit and withdrawal fees involved when using your Payz account depend on the kind of account you are using. Use this chart for the most common fees for easy reference:
| Classic | Silver | Gold | Platinum | VIP | |
|---|---|---|---|---|---|
| Bank Wire Deposit | 0-7% | 0-7% | 0-7% | 0-7% | 0-7% |
| Bank Withdrawal Fee | €5,90 – €10 | €5,90 – €10 | €5,90 – €10 | €5,90 – €10 | €2,90 – €7 |
| Currency Converter | 2.99% | 2.99% | 1.49% | 1.49% | 1.25% |
Keep in mind that the more premium the account, the more you can do with it. For example, the classic account has a maximum lifetime account limit of EUR 2,500, while the others have an unlimited lifetime account.
How to place a deposit and withdraw your winnings using Payz?
- Visit your online casino of choice
- Choose Payment Settings
- Select Deposit or Withdraw
- Enter the amount of cash you want to either deposit or withdraw
- Choose Payz as your payment method from the drop-down menu
- Select Deposit/Withdraw
Deposits should make it in your casino account instantly, whereas withdrawals may take anything from 1 to 5 working days.
| Did You Know? |
|---|
| You can easily link your Payz account with your online casino betting wallet. This way funds can be immediately available to use for your games. |
Solutions to common issues when using Payz at Online Casinos
Every customer, regardless of experience, can end up running into issues when using a payment method. That’s why this Payz review covers a set of common issues actual players have encountered:
My online casino site crashed when I made a deposit or withdrawal!
Any transactions are recorded by both Payz and the online casino so, in this case, simply contact your casino’s customer support to report the issue. This way you will confirm whether the payment was done successfully. If it wasn’t then you can get a refund.
I cannot find Payz as a payment method on my casino site. Am I doing something wrong?
If you cannot find Payz as a payment method at an online casino it might simply be due to it not being available at that particular site. You can always confirm whether you are missing something by contacting the casino’s customer support.
I noticed unusual activity in my Payz account!
This is an issue that can be handled by Payz’s customer support, which can be contacted on a 24/7 basis.
| Did You Know? |
|---|
| Payz uses the same encryption services as your online banking to ensure the protection of both your funds and personal data. |
Pros and Cons of Payz
The below table sets out the pros and cons of opening an Payz account based on Trustpilot reviews.
| PROS | CONS |
|---|---|
| Good customer service | Slow app |
| Low fees | Request forms of ID for verification |
| Fast payments | Sometimes difficult to reach customer support through the phone |
| No person-to-person fees | |
| Easy to use | |
| Welcome offers and bonuses | |
| Casino bonuses available | |
| Secure e-wallet |
Payz Vs. Other Payment Methods
If you’re considering an e-wallet or online payment account, the chances are that you are looking at a few different options. We aim to help you by providing a table that compares the four most well-known online payment methods in one place for your convenience. See the comparison table below:
| Payz | Neteller | Skrill | Paypal | |
|---|---|---|---|---|
| Available accounts | 1 | 1 | 1 | 2 |
| Available currencies | 50 | 28 | 28 | 25 |
| Welcome offer | Sometimes | ✖️ | ✖️ | ✖️ |
| Account management fees | free | free | free | free |
| Sending p2p fees | free | 1.45% | 1.45% | free |
| Receiving p2p fees | free | free | free | Free when local2.9 – 7.4% internationally |
| Bank transfer fees | 0-7% | 2.5% | 1.9% | free |
| Promotions | ✔️ | ✖️ | ✖️ | ✖️ |
| Two-step authentication | ✔️ | ✔️ | ✔️ | PayPal security key |
| Casino Bonuses | ✔️ | ✖️ | ✖️ | ✖️ |
| Did You Know? |
|---|
| You can actually send and receive payments using Payz in over 50 currencies. Transfers between Payz accounts are instant, as well as secure because, as the company puts it, who wants to wait? |
A Great Way For Speedy Pay(z)ments!
Payz has been around for over two decades, and that means a company with plenty of experience in running one of the best e-Wallet solutions around. Its excellence has even been confirmed by the industry, as Payz has won Best Prepaid Card Design at the Prepaid365 Awards and was nominated as Best Payment Solution at the 2019 Global Gaming Awards. It all makes for a great means for players to pay at their favour online casinos!