ePay is the first online payment system in Bulgaria. It was first launched in 1999 and since then it has helped millions of people pay their bills online, purchase products from different websites, and even invest money in their Forex trading account. Currently, this is the most popular online payment system in Bulgaria, and it is generally used by Bulgarians, so it isn’t very popular among residents of other countries.
One of the interesting things about this system is that its clients can use two methods to make payments or deposit money in their accounts – they can either connect their debit/credit card with their ePay account or they can open a micro account and deposit money in it. Both of these methods have their pros and cons, so it is up to you to decide which method best suits your needs and requirements.
Another great thing about ePay is that the taxes you need to pay when investing funds are minimal. In most cases, you’ll be charged as if you are withdrawing/depositing money through a POS terminal. Keep in mind, that some websites have their own taxes, so you need to pay close attention when purchasing products, paying for services or depositing money into other accounts.
Unfortunately for Bulgarians, ePay isn’t a well-known website outside of Bulgaria, so it shouldn’t come as a surprise that there aren’t many Forex brokers which accept deposits through ePay. Of course, there are several Bulgarian brokers, and even some foreign brokers whose services fully support ePay deposits and withdrawals. It is important to keep in mind that although some brokers accept deposits through ePay, you can’t withdraw your money to your ePay account. In order to withdraw your money, you’ll need to have a bank account, credit/debit card, or use another withdrawal method.
Security is very important when talking about online payments, so let’s say a few words about the security measures which ePay uses to secure the transactions and personal details of its clients. The first thing you need to know is that the person or company who receives the company will receive no personal details about you, unless you want this to happen.
Every registered client receives a unique client identification number (CIN) which is used to authorize payments. You also pick your username and password which are then safely stored in ePay’s encrypted database.
Some of the most popular Forex brokers that accept deposit through ePay are: Benchmark Trader, FXM trading Station