About Payz

Regulated by the UK Financial Services Authority and available in almost every country, Payz is a popular e-wallet used in online casinos worldwide. It's better known as ecoPayz, the name it started with in 2000, though it was eventually shortened to Payz in 2023.

Despite the rebranding, Payz's goal remains the same - to offer reliable and fast payments wherever it operates. On top of that, the fact that it allows you to top up your account easily makes Payz an attractive option among casino fans.

Why Use Payz for Online Casino Payments

There are several reasons why Payz is a good option for casino users. Here's a quick breakdown:

• Multi-currency e-wallet - Payz functions as an e-wallet, meaning you get to store funds in it, send and receive money, and make online payments in over 50 currencies.

• Popular top-up methods - Topping up your Payz account is quite simple because you can use credit and debit cards, local deposit options, international bank transfers, and more.

• Fast transactions - Depositing with Payz in online casinos is instant, while withdrawals are very fast, usually handled within 2-5 days.

• Payz Plus Card cashback - Making eligible payments with this card will get you a cashback of up to 2% during the brand's promotional period.

• Privacy and security - Besides using top-notch security measures, Payz also offers higher privacy. You get to have a sort of intermediary between your bank account and the casino, which makes payments a lot safer.

It's availability is also a huge positive and is accessible from most countries including those in North America, Europe, Asia, Oceania, some parts of Latin America and various in Africa.

Depositing With Payz in Casinos - Step-by-Step Guide

Before you begin using Payz, remember that it has different account levels, and you need to upgrade to unlock all functionalities and increase limits.

The lowest level above the Classic, which everyone gets upon registration, is called Silver. To get to it, you need to verify your identity with proper documentation. The remaining three levels - Silver, Gold, and Platinum - require reaching certain deposit thresholds and meeting a few other criteria. They bring higher limits and lower fees, so they are worth considering.

Once you reach one of these levels, depositing in online casinos is simple. Here's a breakdown of the steps:

1. Create an account at the casino - Visit the official site and start the registration. Provide the necessary personal info to complete the process.

2. Verify your account - Verify your phone number or email to unlock your account for full use. The KYC process will likely come later.

3. Visit the Deposit section and find Payz - If the casino doesn't automatically transfer you, visit the Deposit section of the Cashier area. Find Payz among the available deposit options and click it.

4. Input the amount and required details - Make sure you're depositing enough to claim the welcome bonus. Follow the procedure by providing your Payz account details.

5. Complete the payment - Double-check everything and complete the payment. The money should reach your casino account immediately.

Withdrawing With Payz in Casinos - Step-by-Step Guide

Withdrawals are fairly simple, just like deposits. However, you'll likely have to complete the KYC checks beforehand, as they are required at all legitimate online casinos. The process is typically fast and largely automatic, and you only need to provide screenshots of personal documents like your ID. Once that's done, here's how the withdrawal will work:

1. Visit the Withdrawal section - Log in to your casino account and go to the account area. Enter the Withdrawal section.

2. Choose Payz - Find Payz among the available withdrawal methods and select it.

3. Check the payment limits - Check the withdrawal range for Payz cashouts. If the funds you're trying to get came through a bonus, ensure you've completed the wagering requirements.

4. Start the withdrawal - Input the amount you want to withdraw, enter your Payz account details (if the casino hasn't already saved them), and request a payment. The money should reach you after the casino processes the request, which should be within 2-5 days.

Fees and Limits in Payz Casinos

Payz comes with certain fees and limits you should know about, and they get progressively better depending on your account level:

• Classic - You can't send money or withdraw, and the total lifetime limit is $2,500. The currency conversion fee is 2.99%. Bank wire deposit fees go up to 10%, while the ones involving credit cards can be 1.69%-6% + $0.27.

• Silver - All options become unlocked. The withdrawal fees go between $6.39 and $10.83, while the credit card deposit fee is 1.69%-6% + $0.27. The most you can have in your account is $16,251.54, and the currency conversion fee remains 2.99%.

• Gold - Currency conversion fees cost 1.49%, while the max account balance is $108,343.60. Other parameters remain unchanged.

• Platinum - The max amount you can have in your balance increases to $130,012.32.

• VIP - The withdrawal fee drops to $3.14-$7.58, and you're charged a 1.25% currency conversion fee. There is no account balance limit.

There are a few other limits and fees to know about, so make sure to check the official Payz website to get the complete info. Payment limits vary greatly across account levels and payment options, so checking that before proceeding is important.

As for the casinos, the overwhelming majority don't charge fees on Payz deposits and withdrawals. However, they do have minimum and maximum deposit and withdrawal fees that vary from one platform to another. Still, they are usually wide enough to accommodate most players.

Pros and Cons of Payz Casinos

Let's review the main advantages and disadvantages of using Payz to fund your casino ventures.

Pros:

• Use of over 50 world currencies

• Easy top-up process

• Very high level of security

• Regulation by the UK Financial Services Authority

• Instant deposits and fast withdrawals

Cons:

• Not as widespread in casinos as Neteller and Skrill

• Mixed ratings and feedback from users

• Identity verification required on Payz to unlock most features

• High fees in some cases

Payz and Alternatives - Comparisons

As always, the beauty of payments in online casinos is that you don't have to use just one specific method.

Some of the best alternatives to Payz are other e-wallets with more favorable fee and limit structures. The most notable examples are Neteller and Skrill, as they typically have lower fees, especially if you haven't upgraded to the highest account level on Payz.

PayPal might also be better, but the fees vary greatly between regions, so they could be higher for you than the ones on Payz.

Other great alternatives are cryptocurrencies, which typically come with much lower fees and very broad payment ranges. Withdrawals are often much faster because casinos typically handle them instantly, and blockchain processing times are low. Among the best options are Ethereum, Litecoin, USDT, and Dogecoin.