This study sets out to discern the students' perspective on the value/usefulness and importance of the e-portfolio, as well as their own performance and effort. The participants were 121 preschool and primary school initial teacher education students in a private university in Spain. They were enrolled in three asynchronous undergraduate sections of an elective course on ICTs in education. Our data suggest that students are willing to use e-portfolios in the future, and do not just view them as coursework to be completed for a grade. The respondents acknowledged the value of e-portfolio as a learning and evaluation tool. Students recognise the e-portfolio as a job search tool as well as a resource for career advancement. They reported both competence and satisfaction with their work. The strongest impetus of intrinsic motivation, as indicated by our research, was an appreciation for the value and usefulness of the e-portfolio, followed by the students' perspective of competence.