If you don’t have a VISA Card, then it is relatively certain that you carry a MasterCard. Most online casinos players are equipped with one or the other, if not both of these hugely popular and widely available forms of payment. It is just as well that many top internet betting sites accept them. How do you use a MasterCard to deposit, though, and which casinos accept them? As always at CanadaOnlineCasinos.com, we dive straight into the heart of the action to find out.
What Is MasterCard?
MasterCard is the second most popular form of credit card you can find, after VISA. In the Western world, there are many places which accept MasterCard, and your bank usually issues the card itself. It is possible to have a MasterCard which acts as either a credit card (in which case, your bank account will have an overdraft), a plain bank card (tied to your bank account’s balance), or a prepaid MasterCard, which is attached to an e-wallet such as Skrill, or EcoPayz. Apart from the fact that a credit card allows you to “borrow” money that you don’t have, all MasterCards work in the same way.
Is MasterCard Accepted at Canadian Online Casinos?
MasterCard is regularly accepted at most major internet casino sites, and a good deal of those are Canadian online casinos. If you are wondering about casino sites where you can play, check out the reviews at this site. Most of our reputable and secure online casinos accept deposits made using MasterCard.
What About Maestro?
Maestro is a debit card, and it is one which is owned by MasterCard. Originating in the United States, but available worldwide, Maestro cards were introduced in 1991 as MasterCard’s version of VISA’s Electron and Debit cards. As a debit card, Maestro is directly linked to your bank balance. You cannot use Maestro cards to deposit more than you currently have, so they are considered by many players to be a safer option to use at online casinos.
How to Deposit Funds Using MasterCard
Making a deposit with MasterCard at online casinos should be a piece of cake for any Canadian. In a sense, you simply need to follow the same process that you use to purchase goods online. Of course, you need to have a MasterCard, to begin with, but your bank usually issues these. With a MasterCard at hand, here is what you need to do to deposit at an online casino…
- Visit your casino’s cashier or banking page
- Select MasterCard from the options available
- Enter the sum you are considering depositing at the casino
- You now need to enter the card details you have
The final step involves entering the CVC/CVV code on the back of the card
The transaction needs to be confirmed, and this usually involves signing into your bank account to authorise the transfer
Suppose you do have a Maestro card, a prepaid MasterCard or any other type of MasterCard. In that case, you can follow the same procedure detailed above to deposit into your Canadian casino account.
How to Withdraw Winnings Using MasterCard
MasterCard can also be used to withdraw winnings from online casinos. We must stress, though, that this option is not as widely available at online casinos as VISA or other payment options. If your chosen Canadian online casino does permit MasterCard withdrawals, here is what you need to do:
- Visit your casino’s banking or cashier page
- Select MasterCard as your withdrawal option and enter the sum you wish to cash out
- Enter your card details
- Confirm the transaction
Provided you have fulfilled any outstanding wagering requirements, are within the cashout limits of the casino, and there are no other impediments, the withdrawal process should begin
Fees and Transaction Times
MasterCards are free to obtain as they are issued by your bank. You may pay a small fee each month to your bank for having the card, but that has nothing to do with your online casino. What about casino fees, though?
There may very well be fees associated with using your MasterCard at Canadian online casinos. In most cases, you will not see charges issued for depositing into your casino account. In most cases, fees are usually reserved for withdrawals. These fees seldom exceed 2.5% of the total value of the deposit or withdrawal. However, some online casinos do have fixed rates applied to any credit or debit card transfers.
How long will it take? Depositing with MasterCard is normally an instantaneous process. You should expect to be able to play with your deposit in a matter of minutes, tops. However, it is a different story for withdrawals. A casino cashout with MasterCard can often take anything from 1-5 business days to clear. On occasion, you may find delays of up to eight days. It is not acceptable for an online casino to take longer than this to process MasterCard withdrawals.
The Pros and Cons of Using MasterCard at Canadian Casinos
There are both pros and cons of using MasterCard at Canadian online casinos, as you might imagine. Here are just a few of the things you may wish to keep an eye out for…
Not as Common: MasterCards are not as commonly accepted at online casinos as VISA. However, that is not to say that you cannot find an ample number of internet betting sites which do accept this option, at least for deposits. MasterCard is even less commonplace an option for withdrawals.
Expect Fees: Regrettably, you can likely expect to see fees associated with MasterCards at online casinos. They will seldom charge a fee for depositing into your account, but either percentage-based or fixed rate fees have been known to crop up with MasterCard withdrawals.
Safety and Speed: MasterCard withdrawals are neither the safest nor the speediest options around. MasterCard withdrawals can take up to a week, and in terms of security, you are still handing over credit or even debit card details to an online casino. That is always worth considering beforehand.
Handy and Convenient: On the upside, MasterCard is a payment method which most of us already have access to. Because of this, dropping money into your casino account is likely to be a doddle, and using a MasterCard saves you the trouble of acquiring a new payment method to play at Canada’s top casino sites.
Find Top MasterCard Casinos for Canadian Players Today
It shouldn’t be too much of a challenge for any casino player to find somewhere to play using a MasterCard. Many top Canadian online casinos accept this payment method as an option. However, as it involves handing over your bank details to a casino, you will want to be doubly sure that where you play is safe.
Given this information, we strongly recommend that you choose to play at one of our recommended online casinos. Each is safe and secure and has been tested and certified. You shouldn’t have to worry about depositing with MasterCard at any of the casinos we have reviewed.