ePayments Review 2022 – Is it safe to use in India?

Gaurav Kaur

Not Recommended

Total Skor: 62/100

Binary.com Pros

  • Comprehensive online payments solution
  • IBAN bank accounts
  • Cryptocurrency friendly

ePayments is a growing transfer platform. With a smaller user base than much of its competition ePayments works to be noticed in a packed field of e-wallets and transfer services by using more traditional banking methods.

Though not the strongest digital money transfer service for Indian users it is far from the worst. With its moderate fees, IBAN accounts, and Learn why below.

ePayments India Review



Official Website





Financial Conduct Authority (UK)

Platform Type

E-Money/ Transfer

Mobile Platform



Mac OS, Windows, IOS, Android

Free Account


ePayments has worked hard to grow its market share. As an e-wallet and digital transfer platform that started in Russia, it still seems to be European and Russian centric, meaning the majority of the perks and benefits provided by this company mainly apply to these areas. This is not to say people in other parts of the world should not use this service, but rather to look over it closely and weigh your options carefully.

ePayments Fees

Deposit Fee

0% - 2.6%

Transfer Fee


Currency Exchange Fee


Withdrawal Fee

0.1% - $15

Transfer Limit

$0.1 $20,000

Pros & Cons


  • Comprehensive online payments solution
  • IBAN bank accounts
  • Easy to use App
  • SEPA & SWIFT transfers
  • Prepaid MasterCard
  • USD, EUR, & RUB supported
  • Cryptocurrency friendly


  • Reports about closed accounts without explanation
  • No crypto wallets
  • Fiat payments are restricted if crypto payments are enabled

What is ePayments and How Does it Work?

How does ePayments work

Founded in 2011, ePayments provides online payment services for over 1,000,000 freelancers, traders, & gamblers and 1,000 companies.

ePayments is an international payment system that makes sending and receiving money across borders simple and secure. No matter which country they are based in, this platform makes it simple to send money to employees and suppliers. Users can accept payments directly from marketplaces and clients.

ePayments’ cutting edge payment system was created to better further the modernization of business. By streamlining the online payments process, it is now easy and secure for businesses and individuals to operate internationally.

Clients essentially open an online European IBAN account through ePayments without visiting a physical bank. This makes accepting payments from international friends, family, and employers around the globe simpler.

Is ePayments Safe & Reliable

As ePayments is authorized by the UK’s Financial Conduct Authority (FCA) it commits to delivering upon the highest standards. To issue electronic money ePayments must prove that it has sufficient capital to protect clients – even if it encounters unexpected losses. The company must also prove that the digital money that is provided to its clients is tied to real assets. ePayments must show its rigorous processes to prevent and recognize financial crime such as money laundering and terrorism to maintain its license.

For traders looking for a reliable transfer platform ePayments is a decent choice. The protocols required by the FCA ensure that all clients are protected for the full value of the e-wallet. While the support staff will work with you to recover lost money, there is no guarantee that it will be recovered.

ePayments and Trading

ePayments has connections with many different trading platforms around the world. With near-instant transactions between many sites like Olymp Trade its clients have an advantageous arrangement with ePayments. Transfer commissions are waved when sending and receiving money from many trading platforms.

Though it is a perfectly good service to use to execute digital transfers its long sign up process stops traders from being able to use the ePayments to deposit money to or withdraw from a trading platform on the day the account is opened. However, many traders feel the benefits of free and instant deposits and withdrawals on many platforms are worth the wait. The benefits outweigh the cons for traders as they are able to access their money anywhere through the ePayments app.

ePayments: Sign Up/ Open an Account from India

How to open an epayments account from India

Signing up for an account is simple, click the ‘Open account’ button, follow the instructions, and fill out the forms. First, you will be asked to determine whether your account will be ‘Personal’ or ‘Corporate’.

Personal accounts are meant for people, who want to receive funds from various providers, sending money to friends and family, loading a trading account, or purchasing items online.

Corporate accounts are intended for company use as in paying employees, other businesses, or freelancers while also being able to receive payments from the company website.

Next, enter your email which will be used as your login to ePayments and confirm it by following the instructions, or begin the sign-up process with Telegram. Then enter your phone number, and confirm it with either a text or call.

Registration via Telegram Messenger

This registration method is available if you have Telegram messenger.

Click ‘Sign up with Telegram’ then enter your telegram password.  Follow the instructions and enter your email address and phone number. To verify new contact information use the confirmation codes sent through email and text message. Select Authorize in the app and continue to follow the prompts and instructions.

Once these steps are complete you will be able to enter your account but not the dashboard until you have completed the verification process and have submitted your identity, address, and purpose information to gain full access to the platform.

ePayments Account Verification from India

To have full access to your account you must complete verification of your identity, nationality, purpose, and address. The process is like most other AML verifications.

  1. Click Identity then provide your personal details; name, nationality, and date of birth. Double-check the information you enter to make sure it matches the documents you will present; later, you will be asked to provide identification documents, a government-issued ID or passport.
  2. Continue to the ‘Address’ section, enter your current residential address: country, postcode, state/region, city, and address.
  3. Continue to ‘Purpose’: here determine how ePayments will be used. Personal use – traders and investors looking to manage personal funds
  4. Next, ‘Proof of identity’: choose and upload a photo or scan of an official document to use to confirm your identity: passport, driver’s license, or government-issued ID card.
  5. Finally, ‘Proof of address’: select and upload a photo or scan of a document to confirm your address: utility bill, bank statement, mortgage (home loan) statement, etc.

Once complete, the application for verification application is sent automatically to be reviewed. The initial application review is often done within a day; however, the process can take up to 3 days. You will be notified by email once verified.

How to Deposit Money to ePayments from India?

How to Deposit Money to ePayments from India

n India, ePayments deposits are made using credit or debit cards as the payment method (in EUR, RUB, or USD). The card must belong to the account holder and be issued by Visa, Mastercard, or Maestro.

Bank transfers, cryptocurrencies, and Yandex.Money are the other three methods of depositing money into an ePayments account.

Clients will not be able to load funds onto their accounts before it has been verified. The fact that only three currencies are supported leaves a lot to be desired from this payment method. With many other platforms offering 10+ currencies ePayments does not rise above the crowd.

How to Withdraw Money from ePayments to an Indian Bank Account?

In India people most often use a credit or debit card to withdraw funds; however, withdrawing money from an ATM with a prepaid card is the fastest and most convenient for many clients. Transferring funds from the ePayments e-Wallet to most types of bank cards is available to verified clients.

Since ePayments only operates with EUR, RUB, & USD withdrawing to India even through the platform’s prepaid card will incur exchange fees. For traders in South East Asia depositing and withdrawing from your account will result in paying this fee twice.

ePayments Prepaid card

ePayments Prepaid Mastercard

ePayments’ prepaid Mastercards are available for users to purchase for ease of access to their money. The physical card allows customers to access their money anywhere. Ordering a payment card costs $5.95, with a monthly fee of $2.90, which is only charged from the 3rd month onward. Nevertheless, if your spending through the car exceeds $300 per month, the fee will be waved.

The ePayments Mastercard can be used for online, in-store, and ATM transactions. Essentially, it can do everything a traditional Mastercard can. However, the ePayments e-Wallet and prepaid card do not share the same balance. Funds must be added to the card, to be able to withdraw money from the card or pay for purchases.

A card can be loaded five times within a 24-hour period. The maximum amount that is possibly allowed on the card is $20,000 USD. It cannot be loaded through special terminals or via direct transfers using the card number. The card can only be loaded from your ePayments e-wallet or WebMoney account. Money cannot be transferred directly to the card by using the number.

Loading from ePayments e-Wallet balance

Select the ‘Between your accounts’ section on the ‘Payments and Transfers’ page found in the dashboard area. From the dropdown menu select the applicable titles in the ‘From account’ and ‘To account’ fields and enter the transfer amount. Double-check the information entered before confirming the action. Sending money from your e-wallet and prepaid card are instant and free through the platform or the ePayments app.

Cards are only available in either EUR or USD, therefore transactions and withdrawals in any other currencies will lead to foreign exchange charges.

ePayments Mobile App

ePayments Mobile App

All ePayments services can be used through the mobile app just like on the website. Monitor your account balance and keep track of what payments you have received in real-time. Send money directly to your ePayments card, other bank accounts, or e-wallets. Instantly convert between the US dollar, Euro and Russian rubles. View your card balance to stay on top of what is coming in and going out.

To have complete access to your funds with the functionality of the whole platform, download the ePayments mobile app.

Conclusion: 62/100 – Not Recommended

With a team comprised of extensive backgrounds in fields such as financial applications, financial compliance, regulatory and financial compliance, as well as information security ePayments is filled with specialists. Their attention to customer support has been the thing that has fueled their growth around the world. ePayments’ current position as a multi-national company with clients in more than 100 countries across the globe is thanks to the attention to detail.

ePayments was created to provide individuals and businesses with a simple but efficient way of handling sending and receiving money online. ePayments is an easy platform to like. Low and transparent fees help keep its clients satisfied by never paying too much or being surprised by hidden costs. The Help section of the site walks users through how to use every part of the system, with a 24/7 support staff standing by ready to help handle any issues that arise.

Though based in Russia ePayments has put forth a commendable effort to make their site fully functional in English. Unlike some other e-transfer services founded and based in Russia that have not put forth the same effort and expect their clientele to either be able to read the language or that Google Translate will make the site legible.

However, ePayments is a digital money transfer platform is best for European and Russian users. People outside of Europe and Russia can use this service; though the majority of its benefits are geared mainly toward these regions.

Lacking many of the perks of some of its larger competitors like cryptocurrency wallets, VIP packages, and loyalty programs, it is hard to recommend ePayments over e-transfer giants like Neteller and Skrill. On the contrary, if bells and whistles do not make a difference to you then keep this company in mind, but if you are looking for the most bang for your buck look elsewhere.

Traders from other parts of the world should look into other options like Skrill or Neteller.