EcoPayz is one of the leading eWallets in the world and it is available in India. You can use the payment service to send and receive money internationally from merchants as well as friends and family. It is also a great eWallet to use at Indian online gaming sites and those the world over. This complete guide will show you how to deposit into your EcoPayz account, pay a merchant, transfer funds, as upgrade your EcoPayz account.
Signing up for an EcoPayz account is a quick and easy process. All you need to do is to click here, fill out a short form with information and pick the currency you want to use. Rupees is one of the currencies accepted at EcoPayz. You can sign up for an account through the EcoPayz website and if you can also be redirected to it from a merchant website. Once you fill out the form you can fund your account and you are ready to go!
Whether it be an online merchant or online gaming site you will need to go to their website and the deposit section and when prompted for the deposit option choose EcoPayz. You confirm the payment and the money will be taken out of your EcoPayz account. If your account balance does not have enough funds you can easily top it off.
When you want to deposit funds into your EcoPayz account head to the Deposit Funds section and choose one of the three options of Credit/debit cards, Local deposit options, and ecoVoucher.
You can use the credit cards of Diners Club, RuPay or BC Global card to top off your account.
When it comes to local deposit options there are five of them to choose from, which are:
- Alternative Payments (alternative currency deposits).
- LOCAL Banking – This is a local banking deposit option with 10 banks supported with a few being Yes Bank, Axis, SBI, and ICICI.
- You can top of your account using several payment services such as PayTM, PhonePE, Google Pay, and Amazon Pay to just name a few.
- You can top off your account using your Indian bank account. Over 50 Indian banks are supported such as SBI, Axis, ICICI, and Kotak. (To use this option you will need to be in the Silver Level or higher in the EcoPayz VIP program.)
- INB – An online banking solution with just a few of the banks supported being ICICI, Kotak, SBI, and HDFC.
You can also use an ecoVoucher to make a merchant payment. All you have to do is buy it from any retailer that sells it and then spend it like cash at any merchant that accepts it. There will be a small FX fee if your EcoPayz account is in rupees, as the three currencies you can buy the ecoVoucher in are Euros, Pounds, and US Dollars.
In terms of receiving money from a merchant you simply have to provide them your 10-digit EcoPayz account number. On the main page of your EcoPayz account, you can find your account number.
You can also get more features and benefits if you upgrade your account. Right off the bat when you sign up for an EcoPayz account you will automatically be entered into the Classic level of the VIP program and you can make a deposit or make payments to a merchant. There are five levels in the VIP program in Classic, Silver, Gold, Platinum, and VIP. In the Silver, Gold, Platinum, and VIP levels you will not only receive benefits such as lower FX fees and higher withdrawal limits, but you will be able to:
- Withdraw money to your bank account.
- Send and receive money to and from another EcoPayz account holder.
- Receive additional currency accounts.
To upgrade your account you will have to verify your identity. To do this you will have two documents in a photo ID as well as proof of address. Once you do this EcoPayz will review the documents and in 1-2 business days, you will receive a confirmation email.
Creating your account through EwalletVIP means that we will instantly upgrade your account to Gold VIP level of the Ecopayz VIP program. This upgrade is completely free of charge, and simply requires you to create your account through our links. The benefits of the account being on Ecopayz Gold VIP are many, for example:
- Reduced FX fee
- Increased daily transfer limits
- Increased max balance
Sending and Receiving Funds Internationally
You can instantly send money internationally through your EcoPayz account. You can do this in the over 50 currencies that EcoPayz supports. You and the recipient of the funds have to have an EcoPayz account that is a Silver level or higher. To transfer funds go to the Transfer funds individual section of your account. Then input the transfer details, who to transfer to, amount, and currency, and the funds will instantly be sent. The fee for the money transfer will be paid by the sender and it is 1.50% of the transfer amount, with a minimum of €0.50 (45 INR). For VIP members that are in the Gold level or higher, there is no fee.
Fund Transfer Limits
There is no limit when it comes to the minimum amount you can send. However, there is a maximum limit for a single transaction as well as weekly and monthly transactions. The ranges are:
- Maximum single transaction Silver €1,500 (135,000 INR) to VIP (360,000 INR)
- Maximum weekly – Silver €5,000 (450,000 INR) to VIP €25,000 (2.25 million INR)
- Maximum monthly – Silver €10,000 (899,000 INR) to VIP €50,000 (4.5 million INR)
Transferring Funds to Your Bank Account
You will need to be in the Silver level or high to transfer money from your EcoPayz account to your bank account. You will have to first register your bank account and to do this go to Bank account & cards and then click on the Add a bank account. You then pick the transfer type, either local or international and fill in the bank details and you can register multiple bank accounts.
- €10 (900 INR) Flat Fee
- Supported banks are those with IBAN Number
- Processing time – 3-5 business days
- 1 transaction per 24 hours max 500,000 INR limit
Community Bank Transfer
- Fee 4% (min 1.50 EUR – 135 INR)
- Supported banks – Allahabad, AU Bank, AXIS Bank, Canara Bank. Central Bank of India, Federal Bank Ltd, ICICI, SBI, Yes bank.
- Processing time – 1-2 business days
- 3 transactions per 24 hours max 500,000 INR limit
Fast local transfer
- Fee 5% (min 3.00 EUR – 270 INR)
- Various supported banks
- Processing time – 3-5 business days
- 1 transaction per 24 hours max 200,000 INR limit
When you have picked the withdrawal option click that option and input the amount you want to transfer and confirm the transaction. You will receive a confirmation e-mail from EcoPayz after the funds are processed and sent to your bank account.
If EcoPayz transfers funds to your bank account or has transferred funds to another EcoPayz customer the recipient will get an email. You can check out all of the transfers that you have completed by going to the transaction history section of your EcoPayz account.
If you have any issue with EcoPayz or would simply like more information you can contact their customer service, which is available 24/7.
Last Updated on January 6, 2021