ecoPayz vs. Neteller at Online Casinos
There have been a range of companies launching their payment processing services in the last decade, but they are still far from surpassing the established brands of the earlier days of the e-commerce industry.
All kinds of online platforms...
...shops and retailers, as well as service, content and entertainment providers are part of e-commerce. As a result, they tend to rely more or less to the same key segments for optimal operations.
... the best options can help them handle profits from customers, and at the same time allow businesses to settle charges from suppliers, accompanying services or cashbacks. The level of security they offer, especially when it comes to protecting your funds and private details, as well as their accessible interface, speedy processing and many additional features for service optimization are all differentiating factors in the selection process for the top payment processing method.
Considering the effect...
...these services have on businesses’ overall success rate is enough to get customers interested into the mechanics behind it. After all, you could end up with the right merchant simply because of their banking methods; ecoPayz and Neteller are both good choices to be considered.
...online payment processing service dates back nearly two decades ago, with its initial operations starting in 2000. While the company had a different name – ecoCard, they continued supporting the same principles and practices of an impeccable service even after the rebranding in 2013.
You can open a ecoPayz account here.
Just one year before ecoPayz...
...the Paysafe Financial Services establishment gained ground, in 1999, and officially began delving into the world of easy online payments processing. The company has managed to gain even more attention nowadays, especially since the acquisition of Skrill, partnering Paysafecard and more of these services.
This has allowed the e-wallet service to gain even further prominence and focus on servicing its customers in the best possible way.
You can open a Neteller account here.
ecoPayz vs. Neteller
As funny as it may seem...
...a showdown between the two online payment processors is the best way to determine which one fits individual needs best.
What is more...
...these same services are additionally becoming good customer acquisition and retention tools, especially due to their key role in the service. Therefore, further insight into their mechanics is bound to be useful, and such a detailed approach of the key functions should be of great help.
Payment Methods Comparation
Payment method name
1 account (1;2;3;4;N/A different currency accounts)
One time signup bonus
Account management fees
Account maintenance after inactivity of 12 months; 1.50 EUR per month
unused for 12 months: 5.00 USD (or equivalent) /month
Exchange fees (FX)
3,99% (3.79%; 3,19%; 2,79%; 2,39%; 1.29%)
p2p Money transfer
Send money p2p
Transfer to/from ecoPayz Merchant; Free
1.45%, minimum 0.50 USD (1.45% money transfer fee with min. of 0.50USD for Bronze, free of charge for Silver, Gold, Platinum and Diamond)
Receive money p2p
Instant bank transfer
2.00% (minimum charge €1.50)
Prepaid card at the ATM
1.75% (1.75%; 1.75%; $6; $6; $6)
To merchant site
Net+ Prepaid MasterCard
Requirements to order
Fee to order
Costs for cash withdrawals at the ATM
ATM transaction decline fee
Costs at points of sale
Stop payment fee for preauthorized
Online bank statement
€0.50 per request
New prepaid card
Cash withdrawal at ATM limits/24h
Max daily (ATM) €1,500
1,000 USD (1,000; 1,000; 3,300; 3,300; 3,300)
Points of sale limits/24h
7-21 business day
2 -10 business days
ARS, AUD, VEF, BAM, BRL, BGN, CAD, CLP, CNY, COP, CRC, CZK, DKK, EGP, EUR, GEL, HKD, UAH, HUF, ISK, INR, ILS, JPY, JOD, KWD, MOP, MYR, MXN, MDL, NZD, NIO, NOK, PAB, PEN, UYU, PLN, GBP, QAR, ZAR, RON, RUB, SAR, RSD, SGD, SEK, CHF, THB, TRY, AED, USD, UZS
Cashback and promotions
none (regular low-prize draws)
Two Factor Authentication
Fee to order
right after app installation is completed
Money-back guarantee in case of fraud
for all NETELLER users
Link to Terms & Conditions
Getting to know the types of accounts you can hold with each service, as well as some of their main features is a good introduction with these companies. Go through the options on offer in order to find the one that suits you best, from either or both e-wallet services.
With ecoPayz, different user profiles can be serviced according to their needs as this payment processor features three different account types as part of their network. Depending on your specific profile, you can select between a personal, business or even merchant account type and handle your finances through the dedicated functions.
The service is available internationally...
...so most interested parties will surely be able to gain access to the platform and preview all key points. For those that will ultimately decide to open an account with the service – the process is free of charge and only takes a few minutes before providing you with the basic account type.
...make sure to pay attention to the matter of currencies – the service features 45 currencies to choose from. What is more, residents of the member states of the EU/EEA are additionally given the convenience of choosing 10 currencies for a single account. While regular users can make due with one or two, the exchange fee is what made them address the issue more seriously.
Currently, the service charges 2.99% of the amount exchanged before transferring it as necessary.
The numbers are slightly different...
...when it comes to Neteller – this e-wallet service is predominantly oriented towards catering individual private users. As a result, there is only one account type available on its network. Still, prospective users are able to choose from more than 20 currency options as it is, and can pick up to 4 different currencies for their own account.
Limitations in terms of geographical location do exist in the case with Neteller as well, but they are less prominent. In fact, the Neteller official website transparently lists about two dozen countries whose residents can’t enjoy their services as the only ones on the global scale.
Going back to the matter of currencies...
...there is one other thing worth mentioning – Neteller charges a 3.99% exchange fee, which is slightly higher than the other processor. The same tendency is evident in their account maintenance fees for dormant accounts (inactive for 12 months minimum); Neteller charges USD5.00, while ecoPayz only EUR1.50, or approximately USD2.00 a month.
On account of that, Neteller features cryptocurrencies on top of the regular fiat options – with 1.50% fee for crypto selling and purchases made with USD and EUR, i.e. 3.00% fee for sales and purchases made with other available currencies. So far, Neteller users can enjoy secure and fast transactions across their payment processor with the following crypto coins – Bitcoin, Bitcoin Cash, EOS, Ether, Ethereum Classic, Litecoin, XLM, XRP and 0x.
Deposits & Withdrawals
Making payments, funding your e-wallet account and withdrawing all kinds of profits, jackpot winnings or earnings are all easily done through either of these services. It’s the specifics which help interested users make the best pick and enjoy their experience.
...can be funded through a range of credit and debit cards, direct banking and other local and international methods. In this regard, account holders need to be aware of any potential fees, and with deposits, there are specific charges for most of the payment methods. Those choosing to make bank wire deposits experience a fee range of 0.00%-7.00%, while credit card deposits will cost account holders anywhere between 1.69%-2.90%. A deposit through the ecoVoucher has a fee capped at the same 2.90 percentages.
Western Union transactions in both directions are completely free of charge, as are most outgoing funds transfers. Other withdrawals, to bank accounts specifically, come with a EUR5.90-EUR10.00 fee range. Either way, all imposed charges at the basic Classic ecoPayz account rank will see improvements, or may practically disappear as users climb up the ranking ladder all the way to the top tiers of loyal customers.
With Neteller, the range of payment methods...
...for funding purposes in particular, is quite vast and varied, but the fee charge is a unifying factor – 2.5% of the transferred amount is charged across all deposits made into Neteller accounts.
...withdrawals are a bit more varied, and even come to include the dedicated Neteller money transfer service available for Greece, Chile, Kenya, Morocco, Peru, Russia, Serbia, Spain, Ukraine, Uruguay, Vietnam and Venezuela. This transaction will see earlier registered users charged 1.45%, while most recent users – 5% per transaction with a minimum limit of USD0.50. Other than this, withdrawal options include a bank transfer with a USD10 flat fee, member wiring (USD12.75 fee) and a free of charge transfer to merchant sites.
The next thing after actual transaction functionality that concerns existing and prospective online payment processing customers is the security on their providers’ network.
This company is authorized and licensed by the UK Financial Conduct Authority, as is the case with the subsidiary company Paysafe Financial, handling Neteller. What is more, ecoPayz is compliant with PCI-DSS standard requirements. On top of it all, their service is fully encrypted throughout all operations, making it extremely hard for anyone to breach security, let alone use any of the data in practice.
Still, the service has brought its protection even closer and more tangible to the users in reassure them further. Since 2016, they have introduced dual-factor authentication, further eliminating the possibility of intrusions in users’ accounts.
Security is as much of a priority for Neteller as it is for ecoPayz – this service is equally authorized to operate as an electronic money transfer service by the UK’s FCA, and complies with international industry standards regarding card payments and data transfer.
What it does in terms of individual protection is a choice between the dual-factor authentication security, as explained above, and Secure ID, alternatively. The latter is a specific service which, if active on your account, will provide a unique 6-digit code that needs to be entered for identity verification and confirmation purposes.
The physical, plastic card issued by the chosen provider, and further linked to your existing online e-wallet account is now an indispensible part of the whole package offering. A top leading payment processing service in today’s modern competitive marketplace normally aims to include a plastic card in order to meet user expectations on all accounts.
The ecoPayz’ prepaid card...
...also known as ecoCard, is issued free of charge and shouldn’t take more than a few days to reach your mailbox. While activation is free, withdrawing funds from it is subject to fees like most other cases – cash withdrawal will subject you to 2% fee, with a minimum amount of EUR1.50, while cash services charge 4.00% (min – EUR0.80).
Most of the regular services – statements, bank records and the likes are free of charge, but PIN reminders and card replacement will see you charged EUR0.50 and EUR12.50 respectively.
Net+ Prepaid MasterCard
The Neteller prepaid plastic card solution...
...has been issued in partnership with the leading processing company MasterCard. This move made a huge contribution to its availability, and is thus considered to be one of the leading benefits for Net+ card holders.
Shipping and delivery for this prepaid card...
...will take anywhere from 2 to 10 days depending on your place of residence. While issuance and activation are also free of charge as was the case with the ecoCard, delivery costs a single flat fee of USD10. The same approach is evident with other charges; more precisely, users looking to withdraw funds from this Net+ prepaid card can do so from ATMs and POSs at the same 3.99% charge rate.
Ultimately, a single card holder can link up to five Net+ Virtual Prepaid MasterCard accounts to their card without any charge; for each following virtual card account they are looking to link, they will be charged an additional USD3/ EUR2.5/ GBP2.
In an attempt to make their product or service more appealing to the potential user pool, these payment processing providers have additionally included benefits for the most deserving. Practically, each user gets rewards depending on their traffic and frequency of use, and will be ranked accordingly against a ready-made tier system.
This service features...
...a range of rewards and perks for users as they go up the ranks determined in their Loyalty program. As soon as users get an account, they qualify for the Classic ecoAccount level, and upon verification of their identity, they move on to Silver. Next off, there is the Gold and Platinum rank, and ultimately the VIP level.
There are a range of benefits ecoPayz users enjoy, including lower fee rates, faster payment processing times and even rewards for their loyalty and the payment traffic they contribute.
...also has five different rankings to aspire to when signing up for a Neteller account – Bronze, Silver, Gold, Platinum and Diamond. Each of these has a set amount of funds you need to go through over the course of 12 months in order to move up a rank.
In this regard, users can qualify for the Bronze rank with just $10,000 a year, Silver - $50,000, and Gold - $100,000 a year. Those ranked on the Platinum level must have gone through $500,000 minimum during the year, while the qualifying amount for Diamond-ranked players is $2,000,000. Although it may seem like a steep price, the extent of the benefits has been known to pay off.
All in all...
...payment processors nowadays all feature the key functionalities that make users happy. While some may have a different approach, or others could think to add some extra features, those functionalities including the ones listed above are definitely most important when it comes to making the right choice of provider. Just consider the tips and guidelines above, and make sure to compare them against your personal expectations in order to get the best online payment processing experience.
Related banking method reviews:
Written by: Shelly Schiff