ePayments Review

ePayments is a payment system to send and receive money worldwide. It offers different payment solutions for individuals and companies. ePayments is one of the leading companies in payments.

epayments

In this ePayments review, we will see 10 positive points about this payment company and 2 negative aspects.

If you are not already registered in ePayments and are doubting about doing it or not, you should read these essential topics before opening an account.

The 10 Pros

1. IBAN Worldwide Account

epayments iban

If you are not familiar with the IBAN account (International Bank Account Number), this is a number that allows you to receive and send international payments.

Many times local banks have high rates to use this account, or it’s very difficult to access. Or maybe the company that will pay you doesn’t accept your local bank. 

This is not the case with ePayments, since by registering you receive a European IBAN account to receive and send payments throughout the world.

This account makes it very easy for freelancers, self-employed workers or companies since you don’t have to meet any requirements.

Also, it’s very beneficial if you do not reside in the territory of the European Union since you can obtain the IBAN account from anywhere in the world.

With this account, you can receive payments in just one business day, and you can receive transfers in euros in more than 168 countries.

Besides, for transfers in euro, it has a 0% rate. On the other hand, if you receive in USD, it can go from 0% to 1%, which is also a very low-rate.

2. ePayments MasterCard card

epayments prepaid card


ePayments Review: (Image from official webiste)

The ePayments card is a great solution to use and withdraw money from ePayments. With this card, you can make withdrawals at any ATM or buy any type of product.

This is a card issued by MasterCard, and you can use it worldwide.

This card has an order cost of $ 5.95 and has no monthly maintenance costs (if you spend more than $ 300 per month). If your consumption has been less than $ 300, it has a monthly fee of $ 2.9 per month.

To withdraw money at ATMs, you have a fee of $ 2.6 per transaction (if it is in the same currency of the card). If you make extractions in another currency, you may have an additional fee.

So, this can be a very useful card if you need to withdraw funds quickly or use it to buy at online or local stores.

  • Limits
    The maximum limit per operation is $ 5000 and has a daily limit of $ 5000. On the other hand, it does not have an annual limit.

3. Fair fees

The ePayments rates are moderate. Depending on which transaction, it can be cheap or a little more expensive.

For transactions between ePayments users, whether you receive/send money from customers or friends, the fee is free. So for these types of transactions, it’s great, but not everyone has an ePayments account.

For money transfers with the international account, it has a cost of 0.5% with a minimum of $ 15 fee. That is if you send $ 200, the minimum rate will be $ 15. Therefore, for transfers of high amounts, it’s very cheap, but for small transfers, it can be a bit expensive. In the case of payments you receive in euros, the rate is always free.

You can also withdraw your money to a WebMoney, Yandex, or QIWI account at the cost of 2%.

If your account is inactive for more than 12 months, you will be charged a cost of $ 3 per month. It’s not very significant, but it is a fact to consider if you do not use the account.

You can check in detail all the rates for the use of the ePayments account, the card, and the merchant service from its official website.

4. It’s authorized by FCA

ePayments is a company regulated by the FCA (Financial Conduct Authority) in the United Kingdom. This entity regulates more than 58,000 financial institutions.

The objective of this organization is to regulate the financial actions of ePayments and guarantee the rights of consumers.

That is, ePayments must prove that it has everything in order to issue and receive payments worldwide. So you can rest assured that it is a company that complies with the regulations.

This is another point to keep in mind since every company should be regulated by an entity like this.

  • Also, the FCA is dedicated to combating financial crimes and provides maximum security against fraud or poor administration.

5. Excellent for Freelancers

Photo by picjumbo.com from Pexels

The ePayments virtual wallet is very useful for freelancers such as freelancers, affiliates, or publishers. If you are a freelancer, ePayments is an excellent option to receive payments from international companies such as Amazon, Airbnb, AdCombo, MaxBounty etc.

The advantage of using this platform is that you do not have to open any bank account with slow and tedious procedures. But by registering, you are already authorized to send and receive payments worldwide.

You can then send the money to your own card, a bank account, or withdraw it at an ATM with the ePayments MasterCard Card.

So if you are a freelancer, ePayments is an excellent option to consider.

6. Mass payouts for business

If you are a company, ePayments also has many benefits for you. With ePayments, you can pay your employees or freelancers through ePayments.

The advantage is that the commissions to send payments to your freelancers in ePayments are very low. If you make the transaction from your ePayments wallet, it’s 0%. Then, depending on the method you use to pay freelancers, the commission is also very low.

You have two ways to configure payments:

  • API Integration: It’s the most efficient integration, and it takes five days to install. With this application, you can integrate ePayments payments into your app or website. You can accept more than ten currencies, and it’s ideal for large corporations.
  • Upload .csv-file: This method is ideal for small and medium businesses that want to pay their freelancers or customers with ePayments. It integrates quickly in 5 minutes, and you can pay with EUR, USD, or RUB.

    Starting to pay your employees or freelancers with ePayments can be very simple and fast.

7. Great for merchants (Payment Solution)

epayments merchants

ePayments Review: Image from ePayments

ePayments also allows payment integration with merchant websites. If you have an e-Commerce, this can be very useful.

With Merchants service, you can accept payments through VISA / MasterCard, WebMoney, ePayments, QIWI, and Yandex on your website.

It is a cheaper alternative to PayPal or Stripe, with which you can accept payments on your website safely and easily.

ePayments offers different solutions for each business. Depending on the volume of your business you can choose one of the four options:

  • Invoicing: This is the ideal integration for freelancers with which you can generate an invoice for your customer to pay. The implementation is instantly, and you can accept bank cards, WebMoney, ePayments, or Yandex.
  • Redirect: In this integration, the client is redirected to a personalized page of ePayments to make the payment. The implementation takes up to 2 days and is ideal for SMEs. You can accept bank cards, ePayments, WebMoney, and Yandex.
  • Direct: With this integration, all payments are made from your website, like any large electronic commerce. The customer always stays on your page, and you can customize each part of the payment. This option is ideal for small and medium businesses. To have this type of integration, you must have a PCI DSS certificate.
  • iFrame: With iFrame, you can integrate a payment form into your website. You only select the design and the payment parameters, and they do the other. The advantage is that it is much simpler, and you do not require a PCI DSS certificate to authorize payments. This method is ideal for corporations.

8. Great mobile app

Another advantage of ePayments is that you can control all your payments from the mobile application. It’s available on Android and iOS.

You can use the app to:

  • Transfer money: You can send money to another ePayments account, a bank account, or a card.
  • Balance tracking: Corroborate and measure your ePayments balance directly on your mobile phone.
  • Manage currencies: you can switch between dollars, euros, or rubles.

This application is also excellent for administering the prepaid card, whether to recharge balance, follow the movements, and request a new card.

Also, having the e-Wallet on your mobile phone is completely secure since you can secure it with your fingerprint, a PIN or with a double password.

9. Very good support

The customer service of ePayments is exceptional. Your support team is swift and effective.

You can contact them through your account, the app, or special request.

It is one of the most reliable and safe platforms to use. And their support team is also excellent. Any problem you have, you can first consult your help base, or contact them with personalized attention.

10. Easy and quick to open an account

If you have ever opened an account in a bank, you know that the process is bureaucratic and slow. Also, the rates are costly, and the administration is often not very useful.

In the case of ePayments, you can open an account in less than 2 minutes and already have an international account to send and receive payments. That’s great right?

Besides, it’s a very simple process. Sometimes they ask for identity verification that only by submitting your ID, you already have your account verified. This process is to secure your account and maintain maximum security.

The process to create an account is very simple:

  1. Go to www.epayments.com
  2. Select to create an account and the type of account.
  3. Enter all your data.
  4. Verify your email, and that’s it. You already have a free account in ePayments.

2 Cons

1. The ePayments card is not available in many countries.

Most points about ePayments we found are positive, but some negatives are worth mentioning in this ePayments Review.

The ePayments card is not available in many countries, so it is a significant disadvantage. This card is available mostly in Europe.

To know if it is available in your country you have to go to ePayments.com and then to ePayments Card. There you select your country, and it will tell you if it is available.

However, if it is not available in your country, you have many other ways to withdraw your money such as through bank transfer or send funds to your own VISA/MasterCard. So it isn’t essential to get this card.

2. Some rates may be a bit high

epayments fees

We have previously seen the general ePayments rates. But, some transactions can be a bit expensive, especially for those of low amount.

For example, the cost to send international transactions is 0.5%, but a minimum fee of $ 15. So if you send an international transaction in USD for $ 300, they will charge you $ 15 as it is the minimum rate.

On the other hand, in general, the costs are fair and low. But you must confirm the rates well when making a transaction.

ePayments Review: About the company

ePayments was founded in 2011 with the purpose of facilitating international payments. Its innovative payment system simplifies international payment processes.

It currently has 300 employees and has more than one million autonomous customers, as well as more than 1,000 companies.

This company is authorized to operate by the FCA. You can ensure maximum security regarding your money and transactions.

They are also a member of MasterCard so he can issue the cards directly. It also has PCI DSS certificates to secure its customers’ cards.

ePayments Review: Final Thoughts

ePayments is an excellent payment provider for sending and receiving money without borders. Thanks to the fact that when you register you get an IBAN account, you can receive and issue payments worldwide.

It’s one of the best payment solutions for both customers and companies.

The fees for this service seem reasonably fair. There are different tariff schedules, but in general, it has very competitive rates.

Also, with the ePayments prepaid card, you can withdraw your balance at any ATM or buy online. In case it is not available in your country, you can withdraw the money in your bank account or your bank card.

To conclude this ePayments review, we can end up being an excellent payment provider for freelancers and companies. If you don’t have an account yet, don’t forget that it’s free to make one!


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