MasterCard is a big brand that is globally recognized in offering payment solutions both offline and online. The Card was first brought to life under the name Master Charge and was to serve as a competitor to the then credit card provider; Bank of America. Right now it is huge around the world and its major rival in business would be Visa.
Type of Payment: Credit Card
Options you have when using MasterCard
MasterCard has four card options for you. All these methods can be used in making deposits in online casinos. There is the debit card, credit card, pre-paid card and the gift card.
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The credit card is standard and is issued by many financial institutions. The interest rates for the credit card will depend on the institution offering the card. Without doubt, MasterCard credit cards are known to come with higher credit ceilings unlike others.
The debit card offered by MasterCard is also preferred by many online casino players. The difference between this kind of card and the credit card is that in this, you only use money deposited into the account attached to the card. This is a good option for those with gambling budgets and problem gamblers.
How to get your Card
MasterCard offers services in a flexible and reliable way. Getting an account attached to your MasterCard depends on the institution offering the card. Some of the institution will request you to open an account and have the card processed in a week, while other will do it in two weeks and some instantly.
It is advised that you go for the card rather than having it sent to you via post. If it is to be sent via post, the card and the PIN code will be sent separately for security reasons or you might be required to log into your online banking portal to set a unique PIN code for yourself.
Why you need to use MasterCard in online casino gaming
- When using the card in your online casino deposits, you incur no other costs other than the currency conversion fees.
- In most online casinos, your card is embraced as a deposit method and you need not wait for the money to be cleared. MasterCard’s systems are sophisticated such that all transactions are credited into your playing account instantly.
- Some casinos will have your number saved for future transactions, after entering your MasterCard number once; you need not enter it a second time.
Withdrawing in Online Casinos
In some casinos, the Card is not accepted as a payout method. In others, it is accepted but the money to be cashed out has to be of the same amount as that you deposited; in this case, the payout is issued as a refund to the card. MasterCard is trying to lower the number of casino cash outs being done through MasterCard from online casinos, this is the reason you will find casinos accepting it as a withdrawal option if it was used in making the deposit.
When MasterCard is accepted, cashing out is pretty easy. You fill in your credit card number, user’s name on the card, date of expiry and the CVV number. It will take one to five days to have the money showing in your account balance.
Check out other payment options you can use at online casinos here.