Since many Indian bettors are looking towards alternative banking methods, ecoPayz betting sites are worthy of consideration. ecoPayz, as with e-wallets in general, offers an added layer of security and provide fast deposits and withdrawals, which is something that traditional banking methods might not.
Established in 2000, the team behind this popular e-wallet has had plenty of time to establish itself in the iGaming market. With many of the top cricket betting sites in India now accepting customers through ecoPayz, this gives you more flexibility and choice. Whether you’re placing wagers on a PC, Laptop or mobile betting app, it’s a great banking option.
Indian bettors are looking for a more flexible alternative to linking their banks to betting sites. E-wallets are a natural alternative here, with ecoPayz joining the list of best e-wallets for cricket betting. The great thing with ecoPayz is that registration is simple, and you then only need to provide your bank information to ecoPayz, rather than all the betting sites you register with.
Online betting sites are collaborating with alternative banking methods in India more and more, which means you don’t always have to use your VISA or Mastercard information to claim the welcome offers and bonuses. This opens up the cricket betting market to those Indian customers who are restricted by their banks.
10CRIC is one of the most popular cricket betting sites in India — primarily since they’re purely focused on Indian bettors. The current welcome bonus means you can receive up to INR 10,000 as a 100% matched deposit. The exciting news here is that the bookie doesn’t restrict the banking method you use when claiming the offer. When we put together our 10CRIC review, we confirmed that ecoPayz is an accepted e-wallet, which is ideal for Indian customers.
On top of the welcome offer, there’s currently a Weekly Sports Bonus, which is your chance to receive up to INR 3,000 each week. This is a 30% matched deposit bonus and can be claimed each week per account. Again, ecoPayz is an accepted banking method for this offer. You don’t even need to bet on cricket for this offer, although since 10CRIC is so cricket-focused, the cricket bhav and cricket markets are impressive!
With 888Sport being one of the world-leading bookmakers, this is excellent for Indian customers who wish to deposit with ecoPayz. Although you can’t use e-wallets for the welcome offer, some of the other bonuses accept ecoPayz. For example, the WIN-WIN promotion gives you the opportunity to win a free bet every day up to €5 or equivalent. Although the promotion is advertised in Euros, the offer is open to Indian customers — confirm with the customer care department what the bonus will be since it might fluctuate with exchange rates.
For the WIN-WIN free bet to trigger, you need to win at odds of 4/1 (5.0) or higher. You’re unlikely to get odds for the Indian national cricket teams at these odds. An alternative is to wait for in-play odds and see if India isn’t playing as well. If you think they might turn the match around, depositing with ecoPayz is instant, so there’s no worrying about missing out on the odds. Alternatively, you can always place a bet in the IPL or CPL, or any other cricket match of your liking.
A significant advantage of using ecoPayz to fund your betting account is that deposits are instant. This means you don’t have to worry about keeping any money in an account that’s out of your control. Although betting sites are regulated and your money in the betting account is considered safe, ecoPayz offers that extra level of comfort.
The previous incarnation of ecoPayz was EcoCard, which was first launched in 2000. This now makes it one of the most-established e-wallets on the planet. In 2013, the company rebranded to ecoPayz, giving it the opportunity to offer its growing network a range of choices:
On top of these, ecoPayz also launched business and merchant integration platforms. This then meant that iGaming sites could connect with Indian customers through the ecoPayz cards.
To deposit with a betting site from India, you simply need to register and open an ecoAccount. So you aren’t confused, ecoPayz is the company behind the different payment options.
Opening an ecoAccount is free and quick. It provides you with a fast and convenient method of depositing and withdrawing funds from your online betting accounts. To open your ecoAccount, here’s a short overview:
ecoPayz is likely going to need to verify your account in India, so you may be contacted by the customer services department to do this.
Once your account is verified and registered, you simply need to use your ecoAccount username and password in the banking section of the betting site. Funds will then be transferred from your ecoAccount to the bookmaker.
You don’t need either of these ecoPayz cards to fund your betting accounts. However, they can be used as an alternative to using your bank debit or credit card. This is very handy if you know you have money in your ecoAccount and want to make a quick purchase in a shop or online. There are no credit checks needed to apply for either, although at the time of writing, they’re only available in Euro, GBP, and USD, so not a perfect alternative option for Indian customers, although possible.
In our reviews of the top cricket betting sites for Indian customers, our findings were that there are no withdrawal charges to banking methods, especially e-wallets such as ecoPayz. However, there are restrictions and charges on the ecoAccount, and some banks will charge you when you want to move funds from your ecoAccount to your bank account. This is where the ecoCard comes into its own. Once your withdrawn funds are in your account from the bookmaker, you can use your ecoCard like you would your bank debit card.
The great thing for Indian customers is then that you can avoid losing some of your winnings. You’re also keeping your personal information safe since you don’t need to use your bank information if you wish to spend your money online — simply use your ecoCard information instead.
Withdrawal times from bookmakers aren’t instant like deposit times are. This is not a negative against ecoPayz, but rather a merchant processing time from the bookmakers. For example, 10CRIC takes between 24 and 48 hours to process withdrawals to ecoPayz.
In addition to this, ecoPayz may also slightly delay the funds showing up in your ecoAccount. Again, this is an inter-merchant processing time rather than your funds being at risk.
If you wanted to withdraw from your ecoAccount, the support section on the ecoPayz indicates that you need to wait at least 3 business days to process the withdrawal request and up to 5 business days for the funds to reach your bank account.
ecoPayz gives us confidence that your personal information is never at risk of being passed on. This is standard when it comes to iGaming and banking, of course; however, e-wallets such as ecoPayz provides an extra layer of security. Your personal information is only held with ecoPayz, on their secure encrypted servers, which are stored in a high-security location. Also, ecoPayz uses Secure Sockets Layer (SSL) or Transport Layer Security (TSL).
When depositing with betting sites, you only provide your ecoAccount name and password. All the personal and banking information is only held by ecoPayz, not at every betting site that you register, bet, and deposit with. This dramatically minimizes the risk of your information ever being stolen or passed on to a third party.
We’re happy to report that the company behind ecoPayz, PSI-Pay Ltd, is regulated by the Financial Conduct Authority (FCA), which is a serious positive for Indian bettors. This means that the company conforms to the world’s best in the security and safeguarding of your money and information.
In addition to the above, Indian customers have access to:
The 2-Step Verification adds an extra layer of security to your account. Once you’ve set it up in your account settings area, every time an attempt is made to enter your ecoAccount, a security code needs to be provided. The code comes from the Google Authenticator app, which you then need to confirm in your account log-in screen. Even if someone has your account name and password, they won’t be able to access your account without this code.
Your ecoAccount needs to be linked to your bank account to fund it. As such, ecoPayz will need to validate your card information that you provide them. This is done through a micro-deposit and will only be done when you first attempt to make a deposit through your ecoAccount.
An additional, 1–2 Euros — or equivalent — will be taken from your account. You then need to verify your card on the transaction page and confirm the amount deposited. This is automatic if your bank enables 3D Secure, or manual if not. Once confirmed, the micro-deposit amount will be credited back to your account.
This is a common feature with many merchants and is an extra layer of security needed to verify that the bank account you’re attaching to your ecoAccount is yours.
As you can see, there are lots of positives to using ecoPayz as a banking method for Indian customers. However, no banking option is entirely flawless, and we prefer to give you an open and honest ecoPayz review. When checking out the below disadvantages, keep in mind that we feel the advantages outweigh them.
Although opening your ecoAccount is entirely free, you need to be aware of the limit restrictions on the different accounts. At the time of writing, there are five different service account levels:
When you first open your account, Classic is the standard level. At this stage, there are certain things you’re unable to do with your ecoAccount:
There’s also a lifetime deposit, withdrawal, and transfer combined limit of INR 195,908.18 as well as restrictions on minimum and maximum single transactions.
The good news is that upgrading from Classic to Silver is simply a case of verifying your identity. This is done by supplying ecoPayz with:
Once you’re at the Silver ecoAccount level, the lifetime transaction limit is removed, and deposit limits significantly increased. For example, from Classic to Silver, the maximum daily limit increases from INR 15,672.65 to 235,089.82. As you go up the account levels, the limits become even greater.
You should be aware that ecoPayz fees are between 1.69% and 6% as well as a one-off INR 19.59 charge for deposits into your ecoAccount made by credit card. This is subject to your region and will need to be confirmed with customer support; however, it’s something to be aware of. This charge doesn’t even reduce between Classic and VIP account levels.
In addition to this charge, there are other fee ranges for:
Although these seem excessive, there is good news for cricket bettors. There’s no charge for depositing via debit card, and the bank account withdrawal charge can be bypassed by applying for an ecoCard. This is free to do and means you can treat your ecoAccount like a bank account.
One of the downsides to e-wallets, in general, is that sometimes they’re excluded from sign-up offers. This isn’t usually a problem in India though, but bettors elsewhere may find this to be a small issue.
What you can do to alleviate this is to claim the welcome offers by depositing with your debit card, and then use your ecoPayz account for future deposits and other bookie promotions that accept e-wallets.
All isn’t lost, as you can see, especially since sites like 10CRIC let you claim the welcome offer using a deposit from your ecoAccount. Betting sites that welcome customers from India also tend to be more relaxed in this area. Perhaps because of how popular the banking methods are compared to elsewhere.
ecoPayz are an e-wallet provider that have been in business for over 20 years. It’s free to sign up for a Classic account, where you can set INR as your default currency to avoid exchange fees. Although not accepted everywhere yet, ecoPayz is a deposit method on offer with several of our top-rated cricket betting sites. There are fees for withdrawing to a bank account although a virtual card is also available to spend your funds online without additional costs. ecoPayz is certainly a worthy e-wallet choice for betting online in India.
A. Not all cricket betting sites accept ecoPayz as a banking method. Some of the top-rated bookmakers do though, including 888Sport and 10CRIC. Check out our betting site reviews page for more information.
A. Deposit times with ecoPayz are generally instant. However, it will take longer to set up your account. From then on though, adding money to your betting account should take a matter of seconds.
A. Yes. ecoPayz is a trustworthy e-wallet. They have a reputation of processing online transactions such as deposits and withdrawals from betting sites.