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Entropay Review

EntroPay is an e-wallet that functions mainly through a virtual Visa prepaid card. It is an option available to Indians wagering at online betting sites. However, it is not our most recommended option because it charges higher fees compared to other e-wallets.

Be sure to check out our reviews of Neteller  and Skrill  and compare the different fees before deciding which e-wallet is right for you.

EntroPay Overview

EntroPay is operated by Ixaris Systems Ltd, which is authorised and regulated by the Financial Conduct Authority. It is a global online payments solution that accepts payments in 14 currencies. Ixaris was founded in 2002 as a privately held company, funded by leading UK institutional investors.

EntroPay is an e-wallet, which is the recommended type of payment option for Indian players. E-wallets are reliable, secure and accepted by most reputed online betting sites that cater to the Indian market. You can also use your EntroPay account for other online purchases because it acts like a virtual prepaid card from Visa while most others work with Master Card. You can also transfer funds to a plastic prepaid EntroPay MasterCard and use it offline. This is not available to Indians since 2011. Finally you can withdraw funds from your EntroPay account to your bank account or credit card. There have been no adverse reports from Indian players using EntroPay.

There are some disadvantages that you should be aware of while using EntroPay. Whereas Indian players can fund their EntroPay accounts using INR currency, it will get converted into GBP, EUR or USD depending on your choice. You will have to carry out transactions in one of these currencies and your withdrawals will again get converted to INR. These could attract a foreign exchange conversion charge.

EntroPay has higher fees than both Skrill and Neteller, and the details of them are discussed in the relevant section below. To further understand how INR convertions with e-wallets work visit our rupee deposit guide.

How it Works

Like other e-wallets, EntroPay works like an online bank account. You can load funds into the EntroPay account using a bank transfer, credit card or other options. Once the account has been funded, players can transfer your money to any number of online betting sites or make other online purchases.

Since the EntroPay account is a virtual Visa prepaid card, it can be used exactly like you would a Visa debit card. Many Indian players will find it difficult to fund their accounts at online betting sites using credit cards or bank transfers, because they may be rejected.

However, no Indian bank will disallow loading money onto EntroPay accounts. This helps to disguise the gambling nature of the transaction. You can also use the EntroPay bank transfer feature to withdraw funds into your bank account.

Fees: Deposit, Transfer, and Withdraw

Not only are the fees for EntroPay higher than other e-wallets, but you will be charged for certain types of transactions that are usually free in other e-wallets. You have to pay a fee when you receive your winnings from online betting sites into your EntroPay account. This is the main reason we recommend the other options such as Skrill or Neteller. The creation of an EntroPay account is free.

Fee for Funding EntroPay Account:

3.95% – 4.95%.  You will be charged 3.95% of the amount of the deposit for funding your EntroPay account via bank transfers. A 4.95% fee will apply for funding using a credit card or a debit card.

Transfer Fees to Online Betting Sites:

0% – 1.95%.  Deposits made at online betting sites from your EntroPay account are free. But you will be charged a fee of 1.95% each time you withdraw from a betting site to your EntroPay account. This seriously eats into your winnings. Visit the deposit guide to understand how this process works.

Fees to Withdraw from EntroPay:

£ 3.  A £3 fee is charged when you want to return money from your EntroPay account to your personal credit or debit card. If you have chosen EUR as the currency the fee is €4.50 and if you have chosen USD as the currency the fee is $6.

In addition a fee of $0.20 or £0.10 or €0.15 is charged for transfer between EntroPay accounts and a fee of 2% is charged for currency conversion.

See a full listing of Entropay fees here. Again, if these fees turn you off, make sure to check out Neteller or Skrill.

Why Use Entropay?

EntroPay offers the general advantages of using an e-wallet at online betting sites and some advantages of its own. There are a few disadvantages that you should be aware of.

“¢ E-wallets like EntroPay are by far the best deposit option for Indian players. Rejections have been reported with credit cards and bank transfers at some banks, but none with e-wallets.

“¢ The deposits and withdrawals can take place instantly. Online betting sites catering to Indian players will allow you to withdraw your winnings into your EntroPay account. Though this comes with the cost you get your money instantly rather than having to wait for days if you have to withdraw through cheque payment.

“¢ If you are betting at many sites then you can fund all of them through EntroPay. This ensures that your credit card or bank details are only on the EntroPay server and not at each and every betting site. This will give you a greater comfort level.

“¢ EntroPay ensures that your gambling activities are kept private. Your credit card or bank statement will only reveal that you have made a payment to EntroPay. On the other hand if you fund online betting sites directly, the names of the sites will usually figure in your statements.

“¢ EntroPay is a safe option because it is regulated by the Financial Conduct Authority. It caters to customers all over the world and uses the latest financial transactions security protocols.

“¢ EntroPay operates through a Visa card and therefore you can use your EntroPay account online wherever Visa is accepted.

“¢ The EntroPay website has a comprehensive FAQ section and efficient customer support.

The main disadvantages are that you have to pay a fee for transferring your winnings from online betting sites to your EntroPay account, and that the fees are higher than other e-wallets.

How to Set Up Entropay Account

Signing up for EntroPay is pretty straight forward.

Simply visit www.Entropay.com, select ‘sign-up’. You will be taken to a page where you fill out the necessary information and submit your request. Make sure that the information is correct. In the next page you will be asked to select a currency from GBP, EUR or USD.

Use the currency you are most familiar with or one that has the most favourable exchange rate with INR. You can fund the account from an INR source, but the amount will be exchanged into your chosen currency.

After filling out the details, we recommend you take a screen shot of the registration page by pressing CTRL + Print Screen (on PC) or cmd ⌘ + Shift + 3 (on Mac) and print this for your records.

Funding Your EntroPay Account

It is recommended that Indian players use credit or debit cards to fund their EntroPay accounts.

Most players would be familiar with the process since they would be using the cards for other online purchases. You will have to log in and enter your card information. This is a one-time step only. You then choose the amount you want to deposit and proceed. Visa and MasterCard require additional security steps, such as “Verified by Visa” or ‘MasterCard SecureCode’ while making the payment. These involve entering additional passwords or one-time use codes sent on your registered mobile phone.

You can also fund your account using a bank transfer, and it that case you will have to provide your bank details. Bank transfers cost less but take up to 5 days to clear.

Tips on Using EntroPay:

* This cannot be overstated. EntroPay charges higher fees than other e-wallets. You may find certain advantages or conveniences in using EntroPay, but make sure that you are aware of the fee structure.

* Once in a while, some residents of India may find that EntroPay has frozen or restricted their account through no fault of their own. This is mainly for your security and may happen if your account is idle for long. You can easily reactivate your account by contacting customer support.

* As with any e-wallet and financial site, make sure that the domain address begins with HTTPS instead of HTTP. The S stands for secure. This will ensure that your information protected.

* Verifying your credit card is a one-time procedure that can take a few days. Nevertheless you should carry this out because it adds additional security to your account.

* Check out the security related information at the EntroPay web site and follow those instructions.

* EntroPay charges a flat fee per withdrawal to your credit card or bank account irrespective of the amount. Therefore do not withdraw frequently so as to avoid unnecessary charges.

Entropay Conversion images

Details
Founded:
2000
Licensed:
test
Currencies:
INR, EUR, USD, GBP
Email Support:
support@entropay.com
.....
Fees
Funding account:
3.95% - 4.95%
Transfer to Betting Site:
Free
Transfer from Betting Site:
1.95%
Withdraw from Account:
£3
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Neteller Funding Options
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