MasterCard Online Casino Banking Option
In 1966 several California banks like United California Bank and Wells Fargo launched a credit card by the name Master Charge. Later MasterCard Incorporated became the holding company that owned the credit card product and the name of the credit card was changed to MasterCard. The company went public in 2006 and is quoted on the NYSE. It has its headquarters in Purchase in New York. You must keep in mind that the credit to the card holders will be offered by the banks that issue the cards and not by MasterCard Inc. Since the issuing banks decide the terms and conditions, there are slight differences in MasterCard credit card terms from bank to bank.
Highlights & Main Points
- MasterCard credit cards have been around for 50 years and have unparalleled experience and trust in both offline and online operations.
- When you deposit with MasterCard credit cards the funds are instantly credited to your online casino account, so you can start wagering at once.
- All our recommended Dutch online casinos accept MasterCard as a payment option, so you can deposit at all online gambling sites with this single option.
- Not all Dutch online casinos will withdraw your winnings to your MasterCard credit card. You will need to check this out with the customer support of online casinos.
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How to use MasterCard credit card at online casinos
If you do not already have a MasterCard credit card, you can easily get one from your bank. If you have a good credit rating, the whole process will not take more than a few days. There are a couple of steps to be followed before your first deposit at the online casino. Select MasterCard credit card as the payment option when you are filling up the registration details. Register your credit card at the cashier of the online casino. You will be asked for the 3-digit CVV number. The number is stored on the server of the online casino in a secure manner and used only for authentication of deposits. When making a deposit, you enter only your CVV number and this links to the card. The online casino checks the entered CVV number with the stored CVV number before authorizing the transaction.
You are now ready to make deposits at your online casino. You log in as usual with your user ID and password. Go to the cashier and select the Deposit option. Then select MasterCard credit card from the options displayed. The first thing you will have to enter is the CVV number and then the amount that you want to deposit. You click the button to proceed with the deposit transaction. Most Dutch banks will require you to register for MasterCard SecureCode by feeding in a password. This is an added security layer. After entering the deposit amount and CVV number you will be taken to the MasterCard portal in a secure manner where you enter the password. The system checks that the password is correct and processes the transaction.
Many Dutch online casinos do not allow you to withdraw funds to your MasterCard credit card. You should check this out from the customer support of the online casino. If withdrawal to MasterCard is not allowed then you will be sent your winnings by check. At online casinos that allow such withdrawals, the process is similar to deposits. The only difference is that you start at the Withdrawal section of the online casino cashier.
Online casinos prescribe minimum and maximum limits for both deposits and withdrawals. This information will be available at the Banking or FAQ section. You should be aware of these limits and ensure that the amounts entered are within them. There will also be a maximum credit limit on your MasterCard credit card that you should not exceed. Violation of any of these limits will lead to a rejection of the transaction.
Advantages of MasterCard credit card
If you already have a MasterCard credit card, then the advantage of using it as a payment option at online casinos is significant. You can avoid the hassles of registering for another payment option and familiarizing yourself with its usage.
Funds are transferred electronically from your MasterCard credit card to your online casino account. Hence the funds are instantly received and you can start wagering immediately. You can make the transfer at any time of the day. Because both MasterCard and our recommended online casinos are compatible with all mobile platforms, you can also make deposits even while on the move. These conveniences facilitate your keeping minimum funds with the online casino.
You get some credit when you use MasterCard credit cards to make deposits at online casinos. You get to use the money immediately but settle the credit card payment at the end of the billing cycle.
MasterCard is one of the safest online payment options. Security systems are constantly upgraded and additional security features like CVV and MasterCard SecureCode have been built into the system. With MasterCard you are dealing with a global organization of long standing.
Disadvantages to MasterCard banking method
Some banks that issue MasterCard credit cards may treat deposits to online casinos as cash advances, equivalent to cash withdrawals from ATMs, and levy charges and interest on the amount. These costs can be significant and you should check the policy followed by the issuing bank before you go for this payment option.
The credit that comes along with the MasterCard card may encourage some online casino players to overreach and deposit and wager more than they ought to.
The biggest disadvantage of MasterCard comes when you are unable to withdraw your winnings to the card. This means that the online casino will remit your payments by check, which is a time consuming process. It may be a couple of weeks before you can use your funds.