ecoPayz Products and Services
It all started with EcoCard launched in the year 2000 by PSI-Pay Ltd. In 2009 the company became a member of MasterCard and the same year they launched an iPhone app as the very first financial institution to do so. The rebranding took place in 2013 and at the same time the range of product and services was developed to include ecoAccount, ecoCard, ecoVirtualcard, ecoPayz Business Account and ecoPayz Merchant Account.
In 2014 the company launched ecoAccount app which enabled customers to use their accounts 24/7 via iPhone, iPad and Android devices. The following year they came up with their very own affiliate program and further expanded the portfolio by adding a new prepaid voucher called ecoVoucher.
New clients can open a free Classic account and later on upgrade to Silver level. Upgrading will result in increased transaction limits and several additional benefits, among them an option to apply for physical and virtual prepaid cards.
The next step will be to fund your ecoAccount for which you’ll be offered a number of different ways to choose from, including credit and debit cards and a direct bank transfer. The list of 20+ funding options includes Visa, PaySafeCard, Trustly, iDeal, iDebit, Yandex Money, Instadebit, Neosurf, Przelewy, POLi, Instant Transfer, Fast Bank Transfer, and more. Money stored will be instantly accessible via your ecoAccount, ecoCard and ecoVirtualcard.
Bank wire deposits are charged up to 7% fee, credit card deposits between 1.69% and 2.90%, and ecoVoucher deposits a maximum of 2.90%. Withdrawing to a bank account will cost you €5.90-€10.00, while inter-accounts transfers are free.
The ecoCard is a prepaid card clients can use to pay online as well as at millions of shops and ATMs around the world. It’s available in 3 currencies (EUR, GBP, USD) and you can apply for one whenever you wish at zero cost.
The ecoVirtualcard is a one-use card that allows users to securely pay online and over the phone. Being virtual and expiring after one use means it can’t be lost nor stolen.
ecoPayz Security Measures
The service provider is regulated by the Financial Conduct Authority and complies with the Payment Card Industry and Data Security Standards, meaning clients can feel confident their money as well as personal information are safe.
All money transfers are automatically encrypted using Secure Sockets Layer or Transport Layer Security protocols, and the company uses the latest fraud solutions to prevent unauthorised individuals from accessing your funds.
New 2-step verification process makes it impossible for hackers to access your account even if they somehow manage to get hold of your email address and password. Enabling it makes verification possible only if one also enters a 6-digit number which appears on your Google Authenticator app.