Payz - Payments no longer possible!

[playtime slotti]

Since yesterday afternoon (12/07/23), it is no longer possible to carry out transactions at Cosmo Casino etc. with the payment provider Payz (formerly ecoPayz). I have been confirmed by Casino Rewards that it is not currently possible. A final answer from Payz is still pending. I'm afraid it's the same as with Skrill. In the casinos that I know, Payz has not been available for a long time, at least for customers from Germany. Until now, this was only possible with Casino Rewards. The message that you can no longer buy on the website because the service is restricted in your country of residence is completely incomprehensible to me.



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Payz or Casino Rewards have nothing to do with Germany. Neither Payz services are offered in "German gambling halls" according to the GlüStV 2021 or in casinos licensed in Malta. Thus, German regulation plays no role here and German jurisdiction is also irrelevant. So if an authority has put the payment service provider Payz under pressure, as has been the case lately, then that is not okay.

We can't change that anyway. Unfortunately, it is becoming increasingly difficult with payment providers. Casino Rewards recommend a direct bank transfer or CashtoCode. You can certainly do that, but both options also have disadvantages. Another option would be Jeton. In the case of a payout, you have to choose CashtoCode or direct transfer in any case bank transfer. This means it costs quite a bit in fees and the bank process takes over a week to get the money.

I have used the payment provider for years, even if it was only one or two merchants. Unfortunately, the systems and regulations make it more and more complicated. And worst of all is our own regulation. Wanting to determine who does what, when and how is unbeatable. Just a pathetic bunch of incompetent decision makers.

[playtime slotti]

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Now Casino Rewards has also reacted and displayed a message via a popup. Jeton and bank transfer are recommended as alternatives, but I can say the following about both options from my own experience. With Jeton you can top up your credit with Trustly, bank transfer, Crypto and CashtoCode. However, with bank transfer and Trustly it takes 1-3 working days for the money to be booked on Jeton. So rather not a good option because it takes far too long.

With Crypto it takes up to an hour. Only CashtoCode is credited instantly. Once the money has been credited to Jeton, you can use this deposit option immediately. Unfortunately, the deposit is not credited immediately and is therefore not instant. Because it takes a few hours for the casino to credit the money. Jeton is therefore only suitable as an e-wallet to a limited extent.

In principle one wants to deposit and get started immediately and not wait hours for any funds to be booked. With bank transfer it also takes 2-3 working days until the money is credited to the casino. With CashtoCode you can also deposit directly in the casino, which also has disadvantages. With both options you are forced to choose bank transfer for a payout. That means quite a few fees and also patience for up to a week until you have the money in your account.

Overall, the options are getting worse and worse, which also means that you may have to say goodbye to certain casinos that you have been loyal to for years. But probably the circumstances force some companies to act in such a way, which is not always comprehensible and understandable for us customers. Many are simply intimidated or afraid of being fined if they don't do what is asked of them. Be it justified or not. We, the customers, are the key players and so we are indirectly forced to look around for alternatives.

[almera]

can you pay out rewards with jetons?

[playtime slotti]

can you pay out rewards with jetons?

Yes, if you have deposited with it, because it is an e-wallet. But I think that the best option at the moment might be to use credit cards. You have to try what the times are concerned. Everything is pending for 48 hours anyway.

[almera]

Unfortunately, rewards does not pay out on credit cards....

[playtime slotti]

Unfortunately, rewards does not pay out on credit cards....

Then the only options for withdrawals are chips and bank transfer. Whether you can always pay out with a chip if you have not paid in with it has yet to be found out. Of course the casino decides that.

[almera]

I have a bigger payout in rewards from 15.7/XNUMX. deposited via swift. until today only the message that it will take two working days.... nothing more until today - the casino still says that i can cancel it....

[playtime slotti]

I have a bigger payout in rewards from 15.7/XNUMX. deposited via swift. until today only the message that it will take two working days.... nothing more until today - the casino still says that i can cancel it....

You will receive a payout confirmation immediately after the payout in your account. It comes again by email a few hours later (that's what you got). Since the 15th was a Friday, it will take at least until Monday the 24th for the money to be posted (I already mentioned above that it takes at least 1 week with bank transfer). The fact that you can cancel it remains in your account for as long as possible.

[almera]

no matter how high the payout amount is?

[playtime slotti]

no matter how high the payout amount is?


Players who win an amount substantially greater than their total purchases across all Casino Rewards partner casinos will only be able to withdraw their winnings up to a maximum of $4.000 per week. However, for various business reasons, the Casino may, at its sole discretion, increase or decrease the weekly payout.

Payments to bank accounts, cards and e-wallets are subject to daily limits, including those imposed on us directly and indirectly by regulators, card schemes, banks, payment processors and financial institutions. Depending on your withdrawal method, you may be limited to withdrawing a portion of your winnings each day on consecutive weekdays until the balance is paid in full.

[almera]

Thanks for the info - I'm curious

[almera]

everything worked as mentioned above, wonderfully.

[playtime slotti]

Unfortunately, you can no longer top up your credit straight away at Payz. All other options take up to 3 days, except CashtoCode. This means that not only has it become more difficult but in principle it is no longer really an option for online casino transactions.

At the same time, starting this month, direct bank transfers for withdrawals from existing German customers will no longer be available at Casino Rewards. A payout is currently only possible via a chip.

Apparently it is outside Casino Rewards' control because due to a missing German license, which nobody wants to apply for, only limited options are available.

Unfortunately, that makes it very difficult for us Germans to continue working there in the future. I can't really understand that, because CR has absolutely nothing to do with Germany. But we owe it to our government and the people in authorities who came up with such crap. All of course to protect the customers.

[playtime slotti]

Unfortunately, you can no longer top up your credit straight away at Payz. All other options take up to 3 days, except CashtoCode. This means that not only has it become more difficult but in principle it is no longer really an option for online casino transactions.

At the same time, starting this month, direct bank transfers for withdrawals from existing German customers will no longer be available at Casino Rewards. A payout is currently only possible via a chip.

Apparently it is outside Casino Rewards' control because due to a missing German license, which nobody wants to apply for, only limited options are available.
Unfortunately, that makes it very difficult for us Germans to continue working there in the future. I can't really understand that, because CR has absolutely nothing to do with Germany. But we owe it to our government and the people in authorities who came up with such crap. All of course to protect the customers.

Information about Payz: The local bank transfer zestPay option as a supposedly fast and immediate bank transfer* via Trustly also takes up to 3 days.

Casino Rewards Payouts Update: Wire Transfer is now available again. So you can choose between Jeton and Bank Transfer.

[almera]

deposits can also be made by card - but unfortunately no withdrawals by card.