- Available in Canada
- Accepted at most online gambling sites
- Supports Canadian currency
- Mastercard deposits usually qualify for bonuses
- Deposits are instant, safe and secure
- Transaction fees
- Not all online betting sites facilitate Mastercard withdrawals
- High interest on Mastercard credit card balances
Creating an Account
As mentioned, Mastercard offers credit cards, debit cards, and prepaid cards. There are several types of Mastercard credit cards with each having different requirements, limits and benefits. People usually obtain these credit cards through their bank but they can also acquire them online. In both cases, you need to fill out and submit a detailed application form. Those who have limited income or a poor credit history are often rejected.
If your application for a Mastercard credit card has been refused, talk to your bank about getting a Mastercard debit card. Debit cards are used in the same manner as credit cards but users can only spend the money they have readily available in their bank account. Some people prefer using debit cards because they incur no interest or cash advance fees like those who use credit cards to make deposits at Mastercard online casinos. Mastercard debit cards are issued through several Canadian banks and credit unions.
Mastercard prepaid cards are a convenient alternative to credit and debit cards. Mastercard prepaid cards can be purchased at several retail merchants as well as online. They come in different denominations and are used the same way Mastercard credit and debit cards are used. The main advantage to depositing with a prepaid card is anonymity. You just need to provide the card number, expiry date, and the CVV2 number. No personal information is required.
Deposits and Withdrawals
Using a Mastercard credit card, debit card, or prepaid card to make a deposit at your favorite Mastercard online casino is secure, instant, and takes mere seconds to do. Bear in mind, online casinos usually require credit card users to verify their card. Deposit and withdrawal limits and transaction fees vary depending on the type of credit card you have and which online casino you play at.
For Mastercard credit card and debit card deposits, you will need to enter the deposit amount and then provide your name as it appears on the card, the 16-digit number on the front of the card, the expiry date, and the 3-digit CVV2 number on the back. The funds are credited instantly to your betting account as soon as you approve the transaction. You should check with your online casino and your card issuer to find out what fees apply. Typically, credit card deposits are subject to cash advance fees and interest on outstanding balances.
Canadians who select Mastercard prepaid card as a deposit method are asked to enter a deposit amount and then provide the prepaid card’s 16-digit number, the expiry date, and the 3-digit CVV2 number on the back. Unlike credit and debit card users, those making a deposit with a prepaid card aren’t required to provide their name or any other personal or financial information.
Your online casino might allow you to make a withdrawal using your Mastercard credit or debit card. If not, you will need to find an alternative method such as an eWallet, bank transfer, or wire transfer. Those who make prepaid card deposits will definitely need to find an alternative as prepaid cards cannot be used to make withdrawals. Depending on the online casino, it normally takes anywhere from a couple of days up to a week to receive your money.
Canadians have a couple of options if they have any questions or problems with their Mastercard credit or debit card. They can contact the issuing bank or contact Mastercard’s 24/7 customer service team by email or telephone. Contact information is provided on the Mastercard website.
Safety and Security
Mastercard users are afforded the very best security. Aside from the built-in features on the cards themselves, the company is a world leader in preventing fraud and identity theft. Still, Mastercard users need to apply common sense to protect themselves from becoming a victim. Reputable online casinos encrypt all communications and they use several layers of security such as advanced firewalls to protect any information that is kept on their servers. Canadians who use Mastercard products to conduct financial transactions at recommended online casinos can do so with confidence.