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What is Entropay?
Entropay was one of the first virtual prepaid card options available across Europe. It offered the simple functions of a debit card coupled with top levels of control and the privacy of an eWallet, making it one of the most popular methods around. These features were particularly pertinent to online gamblers who need to have control and security when paying and playing online. As of July 2019, Entropay is no longer an available payment option.
With its simple setup, Entropay offered a create, pay, delete methodology that enabled players to reduce the chances of fraudulent activity, easily protecting their data and enabling them to continue on playing at a range of different online casinos. The fact that this payment method is now gone, does not mean that players aren't able to enjoy other similar options though for there are a number of stellar alternatives that offer the same features and functions.
As the industry is continually growing, it can be expected that there will be a number of other virtual prepaid methods that will fill the shoes of Entropay. Given how popular this payment method was, we probably won't wait too long. There may soon be even better options as technology ever-progresses. Indeed there are already numerous mobile options and even cryptocurrency options available, both of which really make online payments super secure and easy to do.
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Highlights of Entropay
Players who used Entropay did so for a number of reasons. One of the big ones is the additional layer of security this method offered them as compared to debit and credit cards. Entropay worked by enabling players to distance their bank account from the casino that they were playing at. By not needing to provide this information to the casino, players were able to reduce the risk of falling victims to fraudulent online activities.
By not providing this information it also had the added benefit of protecting any personal information as well as spending habits. Another highlight was that these virtual debit cards were one use only. Once the card had been created and then spent, it was instantly disposable. This meant that players would only use each card once, get rid of it and create a new one, again significantly reducing the chances of fraud or unwanted renewals for subscriptions.
It was also incredibly easy to use. In fact, the deposit and withdrawal process is almost exactly the same as that of using a debit or credit card. At the end of the day, it practically was the same thing! Creating an Entropay account was also very quick and required very little information from the player in order to set up. As most casinos offered Entropay as a payment option, it was then easy to use later on too.
How to deposit money with Entropay
1. Sign up for an Entropay account
2. Choose a casino and make an account
3. Choose Entropay as the payment
4. Make a deposit
How to withdraw money with Entropay
1. Click on withdrawal
2. Select the withdrawal amount
4. Cash arrives in Entropay account
How safe are you when using Entropay?
As we have touched upon, Entropay was one of the safest online payment options. This was due to the fact that players never had to give any of their bank or personal details to the casino they were playing at. This meant that any money being paid in from Entropay could not be linked back to the bank account. Fraudulent casinos would not be able to take extra money from the player's account or even know what it was.
Additionally, all Entropay cards are one-off, which means that there could be no extra charges made to that card. Again this helped with preventing against fraud and making sure that players would not be surprised with additional payments or withdrawals being made as the card would simply no longer exist. The company itself was based out of the UK and regulated by the Financial Services Authority to ensure it operated securely and fairly as well.
Are there any transaction fees when using Entropay?
When it came to fees, this is where Entropay may have hit a stumbling block. Whilst it was free to create the Entropay account and then a virtual Visa card, there were fees attached to the various aspects of actually using the account. For instance, topping up any of the credit or debit cards was up to 4.95% of the value added to the card which was quite a lot for those paying larger amounts.
Withdrawal fees were also relatively steep and could be between €1.40 through to €7.99 depending on the amount that was being withdrawn. Closing the account and withdrawing all money to a physical debit or credit card incurred a further fee of £3. Even if players weren't using their account there were fees! A six-month dormancy fee of €2.50 was in place and there were even little 10 cent charges for transferring any cash between Entropay accounts.
Summary: Pros and Cons of Depositing with Entropay
The biggest and most obvious positive about using Entropay at an online casino was the level of security it provided. These advanced security measures were a first for the time in which this payment option was released. In addition to this, players could enjoy speedy transactions, and, if anything went wrong or there was an issue, they could contact a highly responsive and efficient customer service team who would get things back on track very quickly.
Entropay also didn't seem to have any maximum limits on withdrawals or deposits, which suited many players, particularly the high rollers, right down to the ground. One of the big cons though was that if you spent money from the card there were no fees, but loading it up with cash was a different matter entirely. Simply just putting on money in the first place was rather exorbitant, which could have been somewhat of a turn off for many a potential user.
There was also a minimum amount required for any transaction and this was set at £20 which could be quite a lot for some of the more budget players. Add in the fees associated with this and Entropay, despite its positives of top-notch security, would not be such a great option after all. Now that Entropay has left the scene, there are ample providers filling in its shoes, so new and old players will not be wanting when it comes to payment options.