MasterCard is a name known to anyone who has ever heard of a credit card. MasterCard is one of the biggest providers of credit cards in the world. Founded in 1966 MasterCard makes it its business to mediate payments between the banks of sellers and the banks of consumers.
How the Method Works
The notion of a credit card is simple. The bank loans you money as credit, which you have to return after a set period of time, normally 30 days. The terms of agreement vary from client to client and from bank to bank, based on the client’s monthly earnings, spending habits, credit ratings etc.
How to acquire a MasterCard
Getting a credit card is a fairly straightforward, albeit slow, process. First you need to check in with your local bank and see what their policy regarding credit is. If they operate within the MasterCard network they are able to issue these types of cards. Normally you will have to go through a screening process and submit personal information such as your monthly income, name, address, Social Security Number (or your country’s equivalent), credit worthiness etc. If the bank finds you an acceptable candidate it will offer you a plan suited means and your new card will be shipped to you within 7 business days.
Depositing to Online Casinos
Using a MasterCard to deposit in online casinos cannot get any simpler than it already is. When depositing all you have to do is enter the 16 digit code on the front, the expiration date, the card holder’s name and the CVV code on the back. There are no wait time since the payment is completed instantly. It is possible that when paying with MasterCard for online betting, 2%-3% fees may be charged to your account, depending on the casino.
Withdrawing from Online Casinos
Withdrawing your casino earnings is just like depositing. You go on the cashier page, choose the sum you wish to withdraw, select the MasterCard payment method and enter you card details. The money should be transferred to your account in 1-5 business days.
Offers from MasterCard
In the event that you do not wish to use a credit card there are other option that MasterCard provides. MasterCard debit cards are the most used after credit cards. They are directly linked to your bank account and do not let you spend more than you actually have. If you are worried about racking up extra charges or overdrafting this is the best option. In fact it is much simpler to acquire a debit card than a credit card. There is no screening process or creditworthiness required.
Another alternative are prepaid cards. They allow the user to charge them up as much as they find satisfactory and play with that money and only that money. These cards are available in any bank or major supermarket chain. To register them one needs to provide their address and proof of their identity. Prepaid MasterCard cards are also rechargeable in case you run out of funds.
MasterCard is one of the biggest credit card networks in the world. As such they have a large client base that constantly uses their cards and those clients must be protected from fraud. MasterCard cards have chips inside them that drastically reduce the chance for credit card fraud, up to the point that it is nearly non-existent. Additionally banks protect their clients in case their card information falls into criminal hands. They compensate clients in the event that someone drains their card or uses it in unintended ways.
Advantages to using MasterCard
Making payments is easy, fast and accessible. Everyone knows how cards work nowadays and everyone has at least one. Online merchants and retailers have accustomed themselves to this and are prepared to accept any and all credit cards. You will hardly find a casino that will not take your card.
You may play with money that you do not currently have on hand. In truth this is a double edged sword, as it can be both amazing and devastating. It is appealing to play with virtually unlimited funds and it is very easy to lose track of the situation. But when planned for with care and restraint players should experience no trouble and enjoy their time thoroughly.
MasterCard has an extensive portfolio of frequently asked question on their website. Those are likely to answer most questions that might arise during the use of MasterCard. Additionally MasterCard has excellent customer support and the possibility to contact them in several countries and languages. Contact methods include email messaging, writing a letter or phoning them directly.
Disadvantages to using MasterCard
Some banks are known for blocking payments to online casinos. You need to consult your bank regarding their policy towards online casinos. Additionally some casino straight up refuse to accept deposits made via credit card and withdrawals may be equally troublesome. Using a credit card at some online casinos may subject you to extra charges for deposits and withdrawals.
Seeing as how transactions are so simple may cause you to play more than you actually would and make you overstep your budget. This is a credit card after all, there is the chance that you end up spending way more than you actually have and find yourself heavily in debt. You must always keep this in mind. Going over your credit limit will incur extra fees which will pile on over time.
Furthermore using MasterCard without any third party protection may place your bank account and personal information in danger. When you make a payment directly with a credit card you supply the merchant with all your credit card information, basically giving them free reign over your bank account. Reputable sites will not take advantage of you, but some smaller and unknown ones might not be so gracious. Typically banks protect their customers from fraud, but once the damage has been done it will cost you time and nerves, which may be spent better elsewhere.
MasterCard services card holders all over the world. As you are reading this you probably have one of their cards in your wallet. They have proven that they are a reliable and reputable company. Their customer support is excellent and the security measures they have taken successfully protect users from fraudulent actions. That being said it is worth noting that as secure as they are, using MasterCard directly without a mediator is a risky endeavour. The other party gains direct access to your credit card information and it is up to them what they do with it. When using it for gambling purposes it is imperative for players to research the online casinos at which they will play, before submitting their unprotected card information. Even if the casino is in good standing with gamblers, it is still advisable to look up online payment services, which can play the part of a middle-man when making transactions to a casino.