Payz Review 2026: The Former ecoPayz, Fully Rebranded

What is Payz in 2026?

Payz is the e-wallet formerly known as ecoPayz. The company — PSI-Pay Ltd, a London-based payment institution authorised by the UK Financial Conduct Authority — launched the original Eco Card product in 2000, rebranded to ecoPayz in 2013, and then rebranded again to Payz in mid-2023. The 2023 rename was a tidying exercise rather than a strategic pivot: same licence, same features, same underlying rails, just a cleaner four-letter brand and a new blue-and-pink visual identity that replaced the long-running green.

You'll still see "ecoPayz" on the cashier pages of a lot of online casinos in 2026 because many operators haven't updated their integrations. That's a brand issue, not a product issue — it's the same wallet under either name. Regulatory standing, customer funds and feature set are identical. If you used ecoPayz before, your account is still live and all your history moved over automatically when the rename shipped.

How Payz works

Payz is structured around a primary "eAccount" plus up to 10 currency sub-accounts. You fund the eAccount via bank transfer, card, Cash2Code, ecoVoucher or one of several local rails, then push money from the eAccount into a casino or merchant. Withdrawals reverse the flow — the casino credits your Payz eAccount, you then either spend via the Payz Mastercard (if you're Silver VIP or above) or withdraw to bank.

The single most important mechanic to understand is that Classic-tier accounts cannot withdraw to bank at all. Classic is the default status assigned before you complete KYC verification. It's not a fee tier — it's a regulatory control. Once you upload an identity document and proof of address, you're upgraded to Silver within 24–48 hours and the bank withdrawal button becomes available. Skip this step and your Payz wallet is effectively a roach motel: money goes in, it only comes out via the Payz Mastercard or as a voucher.

Deposits

Funding a Payz wallet costs 1.69–6.00% for credit and debit cards, plus a USD 0.36 per-transaction surcharge. Bank transfer fees vary widely — 0–8.5% depending on country and specific rail. Cash2Code is free. ecoVoucher is free. Interac e-Transfer (a Canadian rail) is free at Silver and above. The Payz deposit menu is long but not easy to navigate — there's no simple "cheapest option" that applies globally because the right rail depends on your country of residence.

In practice, the pattern that works across most markets is: bank transfer for verified accounts (usually free or very low cost), fallback to a specific local rail if bank doesn't work, card as the last resort. Gold VIPs get zero-fee deposits on most rails, which is the single biggest reason to push for the Gold threshold (EUR 10,000 per quarter in eligible gambling deposits).

Withdrawals

The fee schedule is where Payz is most visibly a "second-generation" product. Bank withdrawals at Silver, Gold and Platinum cost €5.90–€10 per transaction — a flat fee, which hits small cash-outs disproportionately hard. A €100 withdrawal costs you 5.9–10% of the amount once the fee is applied; a €1,000 withdrawal costs under 1%. If you move money to bank in small chunks, Payz is genuinely expensive. True VIP drops the range to €2.90–€7.00, which helps but doesn't transform the maths.

The solution Payz clearly wants you to take is ordering the Payz Mastercard (available Silver and above) and spending your winnings via the card rather than withdrawing to bank. The card's ATM fee is 2% (min €1.50), which beats the flat bank-transfer charge on anything under about €500. This works fine for gaming wallet balances you'd re-deploy into new deposits; less well for anyone who wants to move their wins into a bank account for non-gambling spending.

Crypto withdrawals are available at 2% plus network fees, and ecoVoucher withdrawals convert your balance into a prepaid code you can redeem at Payz-accepting sites.

The five-tier VIP programme

Payz runs the most complicated VIP ladder in the e-wallet category:

• Classic — Unverified default. No bank withdrawals. 2.99% eAccount FX.
• Silver — Verified account (free upgrade after KYC). Bank withdrawals unlocked (€5.90–€10 flat), Payz Mastercard application available, P2P costs 1.50% (min €1.50), 2.99% eAccount FX. Up to €15,000 balance.
• Gold — €10,000 eligible merchant deposits per quarter. Biggest step: eAccount FX drops to 1.49% (saves 1.5 percentage points), free Payz-to-Payz P2P, limits expand.
• Platinum — €50,000 eligible deposits per quarter. 1.49% eAccount FX, VIP manager, free card, expanded virtual-card limits, higher ATM caps.
• True VIP — €250,000 eligible deposits per quarter. 1.25% eAccount FX — the lowest Payz rate. Bank withdrawal €2.90–€7.00, maximum limits, hospitality, invite-only events.

The Silver → Gold jump is where the real value sits, because it's the step that actually changes pricing materially. Classic → Silver is a KYC upgrade, not a fee improvement. Platinum → True VIP is mostly about limits plus the extra 0.24-point FX cut. If you're serious about using Payz as your primary wallet, plan to reach Gold within your first quarter.

One watchpoint: the VIP FX discounts apply only to the eAccount. The Payz Mastercard keeps its flat 2.99% FX rate at every tier — so a Gold VIP spending in a foreign currency via the card still pays 2.99%, not 1.49%. This is unusual versus Skrill/Neteller (where the card FX moves with your VIP level) and is the biggest catch in the Payz pricing model.

Several affiliate partners (ours included) offer fast-track VIP upgrades with reduced volume thresholds — EUR 10,000 instead of EUR 250,000 for top-tier status, for example. Check the affiliate's terms.

Payz Mastercard

The Payz Mastercard is a physical and virtual prepaid Mastercard linked to your Payz balance. Physical cards are available only to European account holders (EEA + UK, plus a handful of additional markets on a case-by-case basis). Virtual Payz Plus cards — for single-use online spending — cost EUR 1.80 to generate and can be issued as often as you like.

Physical card issuance is gated on Silver VIP. The Mastercard request fee is waived for Silver and above, with card replacement at €12.50. POS spending in your wallet currency is free. ATM withdrawals cost 2% (min €1.50) with a daily cap that scales from €750 at Silver / Gold to €1,500 at Platinum / True VIP. FX on foreign-currency card spending is a flat 2.99% across every VIP tier — the card does not inherit the eAccount's tiered FX discount, so Gold and True VIP holders still pay 2.99% on card conversions.

Mobile app and security

The Payz app on iOS and Android covers the full feature set: biometric login, 2FA enforcement, multi-currency balance management, card issuance and management, transaction history, VIP tier progression tracking, and ecoVoucher redemption. Support is in-app chat plus email, generally responsive within a few hours during business days.

Security is FCA-standard: segregated customer funds, PCI DSS Level 1 card handling, mandatory KYC before bank withdrawals, and 25+ years of trading as ecoPayz / Payz without a consumer-facing security incident.

Where Payz wins — and where it doesn't

Payz is the right pick as a secondary wallet for European and Canadian bettors who want a Paysafe-free option with a Mastercard. Its real advantages over Skrill and Neteller are: (1) a lower 2.99% standard-tier eAccount FX vs their 3.99%, (2) meaningful cuts at Gold and True VIP (1.49% and 1.25%), (3) better Canadian support through native CAD and Interac. Gold VIP (achievable at €10k/quarter eligible deposits) unlocks a significantly better fee profile.

Payz is the wrong pick as a primary wallet for users expecting a clean Paysafe-class experience, for anyone who moves small amounts to bank frequently (the €5.90–€10 flat fee is punishing on €100 cash-outs), for users outside Europe and Canada where the rails thin out, and for anyone who relies on card FX discounts (the Mastercard keeps its flat 2.99% FX at every VIP tier, unlike Skrill and Neteller).

Compare Payz head-to-head in our Payz vs Skrill breakdown or the Payz vs Neteller comparison.