ecoPayz Fees and Limits

ecoAccount Fees

If you are hoping to keep firm control over your finances while retaining a flexible approach to your transaction, opening an ecoAccount will let you do both for just a small price. A quick registration process will give you access to worldwide markets on which to spend and exchange money (detailed ecoPayz Review).

Where conventional banks charge a monthly commission fee to maintain a bank account open, your ecoAccount has no such troublesome service fee insight. Nevertheless, there remain fees which are incurred over a range and variety of financial practices. Whether you are depositing or withdrawing funds through your ecoAccount, any transaction involving money will be subject to a set of fees. These tend to be determined proportionally to the sum of money in question and your status level.

For deposits transferred from your bank to your ecoPayz account, you may expect from 0% to 8.5% charge on your transaction. You may be able to save up by making sure that you are carrying out the majority of your transfers in Euros to make use of efficient and cheap SEPA payments throughout Europe.

Silver status account holders may transfer funds to other ecoPayz users for a mere 1.5% commission which then vanishes completely when one upgrades to Gold status.

If you are depositing money to certified ecoPayz merchants, absolutely no fee will be incurred by your transaction. This essentially signifies that the greatest worry for your wallet originates from currency conversion charges.

FeatureClassicSilverGoldPlatinumVIP
RegistrationFREEFREEFREEFREEFREE

Bank wire deposit

 

0.00-8.50%0.00-8.50%0.00-8.50%0.00-8.50%0.00-8.50%
Credit card deposit1.69-6.00%1.69-6.00%1.69-6.00%1.69-6.00%1.69-6.00%
Withdrawal to bank account5.90-10.00 EUR5.90-10.00 EUR5.90-10.00 EUR2.90-7.00 EUR
Inter-accounts transferFREEFREEFREEFREE
Transfer to another ecoAccount 1.50%FREEFREEFREE
Transfer between ecoPayz MerchantFREEFREEFREEFREEFREE
Currency conversion2.99%2.99%1.49%1.49%1.25%

If your account is operating in Euros and you wish to make a transfer or conversion to a foreign currency, your lowest fee will still sore at 1.25%. If you are a frequent traveller or often exchange with foreign merchants, you may consider opening an ecoAccount directly in the foreign currency concerned.

Your ecoAccount may be opened in different currencies to give you the ease to carry out transactions away from the standard processing in Euros. Select your preferred currency when registering onto your ecoAccount to allow you to freely switch between currencies and save up on foreign exchange charges.

ecoAccount Limits

Concerning your ecoAccount limits, they are entirely determined by your status. These are most commonly put in place to help ensure the safety and security of your account and any funds held within it. Although there rarely appears any minimum limit, there is a range of caps which have been put in place.

Maximum account balances are capped at €15,000 for a Silver status level but may very efficiently be boosted up to more than six times its value with an upgrade to Gold level. Since limits are determined by the particular financial institution taking care of your funds, they are set based on trust. The more reliable you are in managing your transactions, the higher will the limit is extended. This system is very much the same as what the status upgrades wish to reward. A quick step up to Silver will already increase the transaction caps significantly to one million and half a million Euros for transfers to merchants and bank account withdrawals respectively.

A more detailed breakdown of the transaction restrictions is here forth available for consultation of the benefits of upgrading status levels.

ServiceClassicSilverGoldPlatinumVIP
Maximum Account Balance15,000.00 EUR100,000.00 EUR120,000.00 EURNone
Deposit Credit/Debit Card Maximum single transaction200.00 EUR1,000.00 EUR1,500.00 EUR2,000.00 EUR2,500.00 EUR
Bank Account Maximum single transaction1,000.00 EUR15,000.00 EUR100,000.00 EUR120,000.00 EUR140,000.00 EUR
Other ecoAccount Maximum single transaction1,500.00 EUR3,000.00 EUR3,500.00 EUR4,000.00 EUR
Transfer to Merchant Maximum single transaction2,500.00 EUR1,000,000.00 EUR1,000,000.00 EUR1,000,000.00 EUR1,000,000.00 EUR
Bank Account Maximum single transaction500,000.00 EUR500,000.00 EUR500,000.00 EUR500,000.00 EUR

ecoCard MasterCard Fees

You can obtain your very own ecoCard MasterCard through ecoPayz. Your account balance will immediately be available for use through your prepaid card for any type of spending, whether physical or online. It gives you both total control and free access to all the finances of your ecoAccount in as many as three different currencies. Operating on either a chip and PIN or contactless system, you can stop by any ATM or merchant to access your money.

If you already have your ecoAccount all set up, you will only have to get your home address down correctly to get an ecoCard promptly sent to you within 1 to 2 days. All three of your potential ecoCards are entirely free to order but will nevertheless endure specific additional fees.

Whenever a transaction is carried out with a MasterCard, a certain price rate is applied to every withdrawal or conversion. Luckily, whereas most banks will charge a hefty commission fee to keep your money more or less warm in their institution, your ecoPayz MasterCard is exempt from such charges. Instead, its users’ losses are, for the most part, reduced to a mere 2% cash withdrawal fee which only doubles for other bank services, including foreign exchange and money order.

FeatureSilverGoldPlatinumVIP
Card issue and activationFREEFREEFREEFREE
Cash withdrawal2.00%2.00%2.00%2.00%
Cash services4.00%4.00%4.00%4.00%
Transaction processingFREEFREEFREEFREE
Currency conversion2.99%2.99%2.99%2.99%
Card replacement€12.50€12.50€12.50€12.50

ecoCard MasterCard Limits

When it comes to MasterCard limits, these are determined by your status. Where caps are often put in place to help ensure the security of your account and the money it withholds, they can quickly become a nuisance and potentially incur more costs.

Card limits can come in the form of both a cap on the amount of funds retrieved as well as the actual number of withdrawals used to perform the transactions. Although each status level allows for up to three daily ATM visits, the actual maximum value of each is set at €250 for the most basic Silver status. If you are hoping to transfer larger sums of money efficiently, you will be forced to split these down into the three allocated withdrawals. Where this can become an issue is when one goes back to consider the charges associated with such a transfer. Indeed, any ATM transaction you carry out will be charged a 2% fee, all three times around.

A straightforward way to avoid losing on such unfavourable grounds is to upgrade your status into the higher gold, platinum or VIP. This will help boost your limit up to €500 and €2,500 for ATM and shops or e-commerce respectively. Not only will you be able to withdraw more than twice the initial amount, but you will also reduce your money loss since you will only have to pay the fee once to carry out your entire transaction. Luckily, there is not necessarily the need to deposit large sums of money to start upgrading your status. By directly connecting to ecoPayz via Baxity, you will instantly unlock a Gold status and be eligible for VIP after just €10,000 deposits.

Once you bridge that crucial gap between Silver and Gold, your ceiling will be much higher and subsequently your fees much lower. The table provides a further reference for the caps system.

LimitSilverGoldPlatinumVIP
Maximum single transaction (ATM)€250€500€500€500
Maximum single transaction (POS/ECOM)€1,000€2,500€2,500€2,500
Maximum number of ATM visits per day3333
Maximum number of POS/ECOM transactions per day5888
Maximum daily ATM withdrawal€750€1,500€1,500€1,500
Maximum daily withdrawal €2,000€4,000€4,000€4,000
Maximum weekly €5,000€10,000€10,000€10,000
Maximum monthly €15,000€30,000€30,000€30,000

ecoVirtualcard Fees

ecoVirtualcards offer some of the most secure and private online payment system available. Designed as a single-use virtual card, it will essentially reach its expiration date the moment it has been used. For just a meagre €1.80, your virtual card is issued by ecoPayz to link it directly back to your trusty ecoAccount. Whether you are looking to make a payment to a merchant or are testing your luck at a casino, your ecoVirtualcard will never reveal or display any personal information. It will also not ask you to wait for any verification and can be used as soon as it is ordered.

As the name suggests, the use of the ecoVirtualcard is specifically designed for online platforms for worldwide usage. It offers its users optimal flexibility with the option of being set up in the same three currencies as the ecoCard. Although any Silver ecoAccount holder may purchase it, a prepaid version is exclusive to Silver level and above.

The ecoVirtualcard has no associated transaction charges, which makes it completely free to use in the same currency as your account. The only expenses which are able to infiltrate themselves are those related to foreign exchange. If you wish to convert money between currencies, a natural currency conversion fee will be applicable.

FeatureSilverGoldPlatinumVIP
Card issue and activation€1.80€1.80€1.80€1.80
Cash services4.00% (minimum charge €0.80)4.00% (minimum charge €0.80)4.00% (minimum charge €0.80)4.00% (minimum charge €0.80)
Transaction processingFREEFREEFREEFREE
Currency conversions2.99%2.99%2.99%2.99%

ecoVirtualcard Limits

Since ecoVirtualcards may only be used in online transactions, the organic transfer limits usually associated with physical cards mostly vanish. Since these function on a single-use basis, the only limit observed is set on the maximum single transaction starting at €700. As always, working on improving your status level is the most effective way to help you maximise your caps.

LimitSilverGoldPlatinumVIP
Maximum single transaction€700€700€1,000€1,000
Maximum number of cards per day3455
Maximum number of cards per month30404040
Card expiry time12 months12 months12 months12 months

The most striking difference between the ecoVirtualcard and its physical counterpart the ecoCard Mastercard is undoubtedly the single transaction limit. Where the daily maximum quickly jumped to €4,000 in transfers for the ecoCard, it remains at €700 for the ecoVirtualcard even when considering the Gold status level onwards.

Nevertheless, this is simply an accurate exemplification of the fundamental way in which these two cards differ. On the one hand, the virtual card provides a user with unparalleled security and anonymity for his most delicate transfers of money. On the other, the ecoCard is designed as an efficient MasterCard to respond to your everyday needs and demands from different merchants.

Ultimately, each one of ecoPayz features holds onto strong benefits, whether it is the ecoAccount, ecoCard MasterCard or ecoVirtualcard. What they do share in common, is their associated limits and fees which should be carefully considered before selecting either one of them.

Luckily, whichever one you do end up choosing, you will be able to benefit from reduced commissions costs and significantly higher caps as long as your account is registered via Baxity. This is a guaranteed way of optimizing every one of your deposits and withdrawals by helping you upgrade your status level and unlock all of their advantages. Additionally, you can learn the comparison of ecoPayz vs NETELLER and choose the best option for you!

Comments

  1. I wanna verify my ecoPayz account. On your FAQ page it says all docs mustn’t be older than 3 months from the date of issue. Both my passport and ID card are older than 3 months. What do I do in this case?

    1. Dear Andrew, the limitation for a period of 3 months applies to the documents for address verification. For proof of identity, you can use the documents that are older than 3 months from the date of issue (passport, ID card, driving license).
      You can verify your address in ecoPayz using the following documents:
      1. Utility bill;
      2. Certificate of residence;
      3. Documents from the bank containing your name, address you provided when registering in ecoPayz, bank seal.

      1. I didn’t know I could use my utility bills. I’ve managed to verify my account. It’s great that there are more options than I initially thought because Skrill rejected my passport when I tried to verify my address with it. Thanks a lot.

  2. Have been using Baxity and ecoPayz since the past few months for gambling. Happy with the benefits I received. Got a cashback of 0.6% as it was promised. The verification took less than I was expecting. Chose ecoPayz coz it has the lowest conversion fees N I think I did well.

  3. The manager from ecoPayz wants to call me but my spoken English is not as good as my written one. He will speak in English, no? What does I do if I can’t answer his questions? What if he don’t understand my answers? I don’t want to look suspicious but really don’t know what to do in this case. Should I contact them via email and explain my case? Will they understand?

    I was thinking of doing this but wonder if they will see my email in time or if they will just call before seeing the message. I hope you’ve had such a case before and can advise me on the best option for my case. Any advice is greatly appreciated. Thank you.

    1. Dear Ivailo, thank you for your question! The ecoPayz Manager usually calls in the following cases: if they need to check the activity on your account for fraud or to confirm your identity. If you have not committed any actions that are contrary to the ecoPayz rules and policies, You have nothing to worry about. You just need to tell the truth. Also, you don’t have to worry about your English skills: if necessary, you can ask the manager to repeat the question or explain it in a different way if you don’t understand it. In particular, the conversation is available in both English and Bulgarian languages. You can write them an e-mail in advance and explain the situation, and perhaps you will be offered an alternative solution. When writing an e-mail, you can also write a text in your native language and translate it in the translator, and then send it.

  4. I generally like ecoPayz. I was afraid I would only be able to withdraw up to 250 euros from the ATM but I got Gold status (and 500 euros limit) after account verification. Now I get smaller commission costs since I registered with Baxity and I’m ok with that ;). But now I want to get VIP and increase the limits for transfers, but I have some concerns, that’s why I’m going to clarify one issue: how much time do I have for making deposits to merchants to get VIP in ecoPayz? I know that there is only a month for that in Skrill…Looking forward to your reply.

    1. Dear Lucas, thank you for your feedback! I can assure you that there is nothing for you to worry about in this case because you don’t have limited time for making deposits to merchants in ecoPayz. Therefore you can make deposits at your convenience.

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