How does Deposits and Withdrawals work?
Making a deposit in an online casino with MasterCard is a simple and quick procedure. To make a deposit you must enter your credit card information, that is 16 digits on the front of the card, followed by your name, the expiration date of the card and the three-digit security code on the back of the card (even called CVV code).
Of course you need to fill in the amount that you want to deposit and lastly you have to confirm your payment after checking that all of the payment details are correct. The deposited amount will appear on your casino account immediately and now you can play at casinos online with real money.
There is however a fee attached with the Mastercard, usually around 2-3% that is paid on top of the deposit. MasterCards greatest competitor Visa has the same fee. The minimum and maximum amount that you can deposit or withdraw depends on the casino.
When you are withdrawing money with a MasterCard it is practically done in the same way as when you are making a deposit. You will have to enter all the relevant information such as your credit card number, your name, the CVV/CVC number and the expiry date of the MasterCard. It usually takes from one to five banking days until you have the money on your account. There is also a fee attached with withdrawing money which varies from casino to casino.
Advantages with this Payment Method
- Easy and secure payment method.
- Almost all online casinos accept Mastercard.
- It´s a fast way to upload funds to your casino account, the money will arrive instantly.
- You can deposit without actually having the money on your personal bank account, if you have a credit card you can pay afterwards.
- You have the choice to repay credits with a monthly bill.
- It´s an easy way to make a payment and the procedure to deposit money only takes a few minutes.
Disadvantages with this Payment Method
- Withdrawing money can take up to 1-5 days.
- If you lose your card someone can use it and take your money.
- Some casino sites will take a fee of up to 3%.
- There´s the security issue when you are using a MasterCard for online casino payments. You will reveal personal data about yourself to the casino and it might end up in the wrong hands.
- The advantage of being able to make a deposit with a MasterCard without really having the money can also be a disadvantage because you will not have control over your budget since you use money “you don’t have”. It might cause financial problems for you.
- Some online casinos charge high fees for payments and withdrawals made with a credit card.
- There are less and less online casinos that allows players making withdrawals by using MasterCard because of the fees.
MasterCard Casino – Review and Conclusion
You can obtain the MasterCard credit card at all the renowned banks but also several other organizations like large retailers or chain stores. A MasterCard, like all the other credit cards is linked to your normal bank account and it guarantees your payments to the recipients. So even though you don’t actually have any money on your bank account, you can still deposit money to online casinos.
This is both a good thing and a bad thing. If you are using credit cards you have to make sure that you don’t exceed your budget. Players with gambling addictions shouldn’t ever play with a credit card.
To deposit money with a MasterCard is very quick and easy. However, a fee is usually attached with the deposit on top of the deposited money. You will also hand out your personal information to the casino. So, make sure that you trust the casino that you are playing at. When you are withdrawing money it can take up to five banking days. All in all, this is a quick way to start playing at an online casino but there are a lot of better payment solutions out there. E-Wallets are a much better payment solution for online casinos.
Additionally, MasterCard can be used internationally to get money from ATMs and banks. This is one of the most common payment method at online casinos due to the reason that everyone accepts Mastercard. However, there are some advantages and disadvantages.