Entropay was one of the most famous virtual cards for gambling, given that it allowed you to quickly complete any transaction by using a virtual prepaid credit card. The company was established in 2003 in the UK, by the Ixaris System LTD e-money foundation and was regulated by one of the most trustworthy financial authorities, the FSA (Financial Services Authority) of the United Kingdom. The payment does not operate anymore since July 2019, after Visa terminated their cooperation.
However, many gamblers are interested to learn how Entropay used to work. In the following Entropay review we will offer you information about how it used to operate for online gambling. As the best Entropay alternative for a virtual prepaid card, we suggest you use Skrill, which among other services, also provides you with the possibility to obtain a virtual prepaid card. Besides, Skrill bookmakers come with many benefits and can cover the needs of every gambler.
Entropay & online bookmakers
The first thing we have to clarify about an Entropay prepaid card, is that it basically acted as the virtual variant of a regular credit or debit card. This means that every time you topped up your bookie account, your identity would remain private; given that you only had to fill in the information found on your Entropay card. They ranked among the safest ways of depositing and withdrawing your money, given that every transaction was closely monitored to prevent any type of fraud or money laundering.
Although Entropay allowed you to manage your payments with ease, it was a somewhat costly way of transacting on a bookie. This was due to the fact that there were certain fees imposed on your withdrawals, as well as every time you purchased a prepaid card.
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Making a deposit on Entropay bookmakers
All you had to do was go to the payment section on your bookmaker and locate the Entropay option. Next you would have to fill in your prepaid card's information, specifically its number, expiration date & CVV code and enter the amount you wanted to deposit. Upon clicking the confirmation button, your account would be instantly credited, without any added charges.
Making a withdrawal
Once again, you had to go to the payments’ section and find Entropay. You would be asked to enter your Entropay account information, state the amount you wished to withdraw and enter your password. You would receive your money after about 3-5 working days for a fee attributing to 1.95% of your withdrawn amount. If you wished to make a withdrawal from your Entropay account to your bank account, you would be hit with an added fee (i.e. 2.99 - 14.99 for $, 1.49 - 7.99 for £, 1.99 - 9.99 for €).
Opening up an account
This was pretty straightforward and could be easily done by completing the following steps:
Step 1: You had to enter www.entropay.com and click on the "Sign up now" banner located on the right of your screen.
Step 2: Then you had to fill in your personal details on the corresponding form. After completing this procedure, you simply had to click on the "Get your card" button, to receive your prepaid card.
Following that, you would be asked to top up your account by using your credit/debit card, or through a bank transfer. You could also create an account via your personal account on Facebook.
Different levels & transaction limits
Accounts were split into three different levels, that would influence how much money you were able to send or receive on a single transaction. Upon completing your registration, you would begin at the "Starter" level. You could deposit at most 250€ on a bookmaker, while you would only receive up to €250 when you requested a withdrawal. In order to qualify for the "Basic" membership you had to verify your email address and residence. At this point you were able to create an added virtual credit card, send and receive up to €2,500 every year and withdraw money on your bank account or credit card (up to €800).
Finally, on the "Premier" level, the limits were greatly enhanced. You could load your virtual card with up to €15,000 each month and withdraw money on your bank account/credit card at the amount of €45,000. If you wanted to gain access to those higher limits, you had to verify your personal information by sending the following to www.entropay.com:
1. Government ID Card, Passport or Driver's License.
2. Address Verification document.
3. A copy of your credit or debit card (both sides) that was used to load your Entropay account. You had to make sure to cover the digits (from the 7th to the 12th one) of the front side and the 3-digit CVV security code on the back of your card, for added security.
Using a credit or debit card on your online transactions may at times prove to be a risky option given that you have to reveal sensitive financial information to a perhaps, untrustworthy vendor.
Entropay allowed you to completely eliminate that risk:
When you made a transaction with Entropay these details were not visible to the merchant, but were only used for the administration of your account.
Your account's login, transactions, personal and financial information were protected by 128-bit encryption and were guaranteed to remain private.
The Virtual Visa Card was generated through cryptographic devices that offered an unsurpassed security level.
Your password was only visible to you.
Entropay had invested in high tech fraud monitoring systems and offered unparalleled security to all payment procedures.
Security technology with "GoDaddy", "3-D Secure" & "Firewall and Virus Detection".
Loading an Entropay card from a personal credit or debit card: 4.95%
Receiving money from a merchant: 1.95%
Transfer between two accounts: €0,15
Foreign exchange fee on relevant purchases: 2%
Withdraw money to a personal credit or debit card: €4,50
Pros & Cons
The advantages and disadvantages of depositing on Entropay betting sites were the following:
- Anonymity. You could keep your sensitive personal and financial information private.
- Instant access to your money through the Entropay Virtual Card.
- Safety. Entropay used top security systems in order to safeguard your transactions.
- Almost every online bookie accepted Entropay.
- 24/7 customer service through e-mail. You could send your questions at email@example.com and get an instant response.
- Charges. Certain fees were imposed for loading an Entropay Virtual Visa card and withdrawing from a bookie.
- Extremely low limits applied to your transactions. However, you could qualify for higher limits if you made sure to verify/upgrade your account.