Mastercard was invented in 1996 and has grown to be the most reliable and popular payment system today for Canadian players at online casinos. Mastercard services are used by all banks across the world. It is VISA’s main competitor, and you would get millions of customers that would argue MasterCard is by far the better option, if you are a player at online casinos or otherwise.
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What Are The Different Types Of MasterCards?
MasterCard has certainly come a long way from having one credit card to offer their customers. Now, there are four main types of cards you can get from MasterCard, and you can use all four of these types of Mastercard products for your online casino banking needs. You can find more in-depth details for each at the MasterCard site.
Of course, you have your normal Mastercard credit cards, although MasterCard has different variations of these cards. The main differences usually have to do with MasterCard rules, credit limits, interest rates, and the types of financial rewards that are at your disposal. For example, you might get a Canadian MasterCard that allows you to rack up Air Miles, or the MasterCard World Elite credit card, which is great to use for travel.. But you can also use this card at your favoured online casino. There really is no best MasterCard Canada option for players. It is all about what card you are approved for.
Online casinos that accept MasterCard will also usually accept their Mastercard debit card, which is called Maestro. This MasterCard type works exactly like a debit card, and it might be better for you to use. This way, you can only use the money that is in your account. This is also a good alternative for players that do not qualify for a Mastercard credit card, or simply do not want a Mastercard credit card.
Prepaid MasterCards are similar to debit cards in that you are only using money that is in your account at the time. However, this type of MasterCard does not require you to have a bank account. All you need to do is load these disposable virtual cards Canada with whatever funds you need and away you go. This is good, again, for those who do not qualify for a Mastercard credit card. It is also a handy option for those that do not want online casino credit card transactions on their monthly Mastercard statement. MasterCard gift cards are also an option similar to prepaid MasterCard cards.
This type of card is not really necessary at MasterCard online casinos. However, it is still something that you should know about. Many different types of MasterCards are now contactless, or you might see them referred to as “tap” cards. When you are purchasing something, all you have to do is tap your card on the Point Of Sale terminal, and the transactions through a chip inserted on your Mastercard contactless card.
How to Make Payments
To make payments, players are required to first select the online casino that they want to make a deposit to.
Mastercard payments have two means:
- The pay desk.
- The gambler’s account.
Once a player has been registered on the Canadian casino website, they will be able to make payments immediately. A special form needs to be filled in, with the following information:
- The 16-digit card number.
- The expiry date of the card.
- The cardholders name.
- The CVV code, which is the three figures on the underside of the card.
- The amount you want to deposit.
It is important to know the bank account properties when a player wants to withdraw money. Therefore, players should prepare to use more comfortable ways of withdrawing.
How Safe Is It To Use MasterCard At Online Casinos?
Safety is imperative at online casinos that take MasterCard. In fact, you could make the argument that it is the most important factor because if the player does not feel like they are making secure transactions, they will close their account. Your MasterCard casino online of choice should be equipped with top-of-the-line digital encryption software, so that only you and the casino can monitor these transactions. However, MasterCard comes with its own SecureCode, which is an extra layer of security for both the casino, the player and Mastercard.
You will also have to submit a few documents to the online casino to verify your identification. This is especially true when it comes to Mastercard withdrawals. You may have to send a picture of your ID, such as a driver’s license, along with a copy of a Mastercard credit card statement and a photocopy of a recent utility bill.
What Are The Top Canadian Sites That Accept MasterCard?
All Slots likes to allow its players to make deposits and withdrawals in the same methods. Therefore, if you make a deposit and a withdrawal by using your MasterCard. However, it is not clear if the Mastercard Maestro debit card is supported.
Playamo is another online casino that will allow online gambling players to use MasterCard for both deposits and withdrawals.
At Spin Casino, you can use not only your MasterCard credit card for deposits and withdrawals, but you can use your Maestro debit card for both types of Mastercard transactions as well.
Jackpot City will accept MasterCard credit cards for both deposits and withdrawals. However, the Maestro credit card is not currently supported.
Can You Use MasterCard For Deposits and Withdrawals?
You can absolutely use MasterCard credit cards at the majority of the Canadian online casinos you will come across, at least for deposits. Many will allow you to make Mastercard withdrawals there as well, although you usually cannot make withdrawals with Mastercard Maestro, Mastercard prepaid or Mastercard gift cards. You should always make sure you read through the online casino banking page to make sure you can use your MasterCard World Elite credit card.
You should also read up on how long the transactions take. In terms of deposits, most online casinos will process your request instantly. For withdrawals, the processing procedure might take from 1-3 days to go through, although you can speed up the process by including your verification documents. This also goes for Mastercard Maestro debit cards, Mastercard prepaid and Mastercard gift cards.
Will You Incur Fees By Using MasterCards At Online Casinos?
Again, this is something that you should read the terms and conditions of an online casino for. But the casino itself, most likely, will not have interchange fees for using your MasterCard credit card. That fee would come from your bank. That is another reason players might decide to use a Mastercard prepaid, Mastercard Maestro debit or Mastercard gift card for playing at Mastercard online casinos.
Advantages of Using Mastercard
There are many benefits to using Mastercard products. The advantages include:
· It is easy to deposit money with Mastercard.
· Mastercard transactions are processed in high speed.
· There is a high level of reliability and security with Mastercard.
Disadvantages of Using Mastercard
As everything with advantages have some disadvantages, so does Mastercard. Although, the disadvantages are not major. The disadvantages are:
· Players are required to always have the bank account properties and the swift code to withdraw.
· Mastercard fees from your bank might be up to 15% for payments, exchange and withdrawals.