India has become one of the fastest developing casino markets in the last few years. With a population of over 1.3 billion people, it’s hard for any payment method to take a swing at the entire country. Well, ECOBANQ, a relatively new eWallet for Indian players, recently made such an attempt. Launched sometime in the late 2010s, ECOBANQ is one of India’s favorite banking methods. But is it any good? That’s what we wanted to find out, so this ECOBANQ review came to be. In it, you will learn how to use the platform, what are its pros and cons, and what are the best casinos that offer it. Sounds good?
Here’s something we don’t really understand about ECOBANQ. Is it so hard to provide some basic information in the About Us section? ECOBANQ isn’t very transparent, as we don’t know anything about the company.
What is certain is that this payment method has been on the market in only the last few years. Even though they’ve managed to attract millions of users, it’s still worrying to see a company of their size being so secretive. Nevertheless, they haven’t been involved in any scandals, frauds, or data breaches.
As of 2021, ECOBANQ is only available in India. This doesn’t mean that only Indian casinos can accept ECOBANQ payments, but foreign ones, as well. If a foreign site wants to attract players from this country, a collaboration with this payment method is possible.
One negative thing we noticed was the fact that INR is the only available currency. Yes, ECOBANQ’s main market is India, but there are Indians who like to make transactions in USD, GBP, EUR, and other currencies. You can fund your account with them, but you’ll have to pay a conversion fee once the money lands in your account.
Click on ‘Join ECOBANQ’
On the website, you’ll see a large button with ‘Join ECOBANQ’ written on it. Click it in order to start the registration process. Once you do, enter your email and think of a password. After completing that, click Create Account.
Open the verification link
ECOBANQ really has a simple verification process in place. To make sure that new users aren’t bots, everyone has to click on the verification link that’s sent via email. After clicking the link, you will be redirected to another page on ECOBANQ’s website. There, you have to fill out some basic personal information. Once you’re done, you can submit your application.
Wait for your application to be reviewed
To start actually using ECOBANQ, the company needs to review your application. We don’t know what they actually review and what kind of info they have access to. Usually, in about 24 hours, you will be accepted and you can start playing at ECOBANQ casinos.
Congratulations, you are now officially a member of ECOBANQ. If you thought the account creation process was easy, then wait until you see how to make ECOBANQ deposits. Follow these steps to start playing:
- Go to the casino’s homepage and log into your account.
- Head over to the Deposit/Cashier/Banking section.
- Once there, you will see a list of all the banking methods available in India. Pick ECOBANQ.
- Enter the amount you wish to deposit.
- Enter your login details (email & password).
- And that’s the whole process!
What about ECOBANQ withdrawals? Are they easy, too? Fortunately for you, they most certainly are! Here’s how to claim your winnings:
- Visit your casino’s website and log in.
- Go to the Withdraw/Banking/Cashier section.
- Choose ECOBANQ from the list of available banking methods.
- Enter the amount you want to withdraw.
- Input your email and password and confirm. That’s it!
ECOBANQ doesn’t charge any fees for casino deposits and withdrawals. The casinos always cover the processing fees and pay a cut of the transaction amount directly to ECOBANQ. However, this payment method isn’t completely devoid of fees. You’re still going to have to pay a small percentage when exchanging currencies and withdrawing money to your bank account.
From our experience, all ECOBANQ deposits are instant. As for withdrawals, you may have to wait 1-3 days in order to see your money. It’s not ideal, but ECOBANQ has processing procedures and verification protocols it has to follow. We at CBM are against long waiting times, but when it’s because of security, we allow it.
The minimum amount that you can deposit with ECOBANQ is 800 rupees. This is the limit set by the company itself, but you may also encounter different rules at casinos. For instance, some Indian sites have a higher limit because they mostly attract high rollers. But 800 rupees is pretty much the standard everywhere. As for withdrawal limits, they’re all over the place. The highest number we saw was ₹400,000. In most cases, it’s a bit smaller than this particular amount.
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ECOBANQ is a relatively secure payment platform. All information on their pages is protected by SSL encryption. In addition to this, they also have a number of security measures to prevent illegal activities from taking place. They also manually verify every new application. Overall, it’s a decent security system for such a new payment method.
However, it is important to note that we couldn’t find any information about ECOBANQ being licensed by a reputable financial information. And the fact that there is very little information on the official website before you sign up or log in is definitely a cause for concern. Therefore, please proceed with caution.
Even though we loved talking to ECOBANQ’s support team, we can’t help but think they’re understaffed. All correspondence takes place via email/contact form, so don’t expect fast responses and overly long conversations. In order to improve response times and the overall experience, ECOBANQ needs to hire more people and start using live chat. ASAP.
From what we were able to see and read, Indian players have a positive opinion about ECOBANQ. They love the fact that ECOBANQ is gambling-friendly and that they care about security. Compared to other payment methods, such as PayTM and AstroPay, ECOBANQ isn’t as nearly as popular. This is probably because they don’t offer any extra features that might excite players and motivate them to use the platform in everyday life.
There aren’t any! ECOBANQ has so far prioritized fast transfers and ease of use. While both of these qualities are important for casino players, they’re pretty much standard nowadays. ECOBANQ definitely has potential, but we believe they can become much better if they offer something more than the basics.
This payment provider doesn’t have any apps for Android and iOS devices. While their mobile style is usable and easy to navigate, it feels very outdated and slow. A modernization effort, plus the addition of apps, would completely turn ECOBANQ around. We hope they’re at least thinking about going in this direction.
- ECOBANQ is supported by most of India’s biggest banks.
- It’s one of the few Asian payment methods that are gambling-friendly.
- ECOBANQ uses SSL protection to keep both players and their data safe.
- Before you create an account, ECOBANQ has to manually review your application.
- All ECOBANQ deposits are instant, regardless of the casino you’re playing at.
Many of India’s best online casinos accept ECOBANQ deposits, but not all of them.
Even though the company uses many security measures to protect you, we cannot deem ECOBANQ perfectly safe for online use.
Yes, but it involves just your email, password, personal info, and a short application verification period. It’s easy!
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