The overlapping red and yellow circles that make up the Mastercard logo are a familiar sight online and on the high street. This flexible and fast way to pay is welcomed by a vast number of merchants, service providers and online casinos. As a credit or debit card, it can be used to deposit and withdraw in NZ$ as well as in a multitude of other currencies and Mastercard offers world-class security benefits for total peace of mind. Mastercard is clearly a popular choice for online gamblers - read on below to see if it is the right one for you.
When we think of credit cards, the first two names to pop up are Visa and Mastercard (and to a lesser extent, Maestro). These two brands have been in competition since the 1960’s, which saw American banks scrambling to set up a credit card system that could be used in many different places.
Mastercard has had many different names over the years - Interbank, Master Charge - but today, it is one of the most well known credit card companies in the world. It is hard to tell exactly how many merchants accept Mastercard but estimates put that number at several million worldwide, both in bricks and mortar businesses as well as online traders. That includes a great proportion of online casinos and it is very rare indeed to come across an online gambling site that does not accept Mastercard debit and credit cards are a form of payment.
How To Make A Deposit Using Mastercard, Step By Step
Depositing via a Mastercard credit or debit card is not only widely accepted but it is also very straightforward. While each casino will have its own deposit/withdrawal processes, all will ask the customer for the same set of details. You will need your card to hand in order to complete the deposit.
The process is outlined below:
Visit the Banking or Deposit page at your chosen casino
Select the Mastercard option from the methods available
Enter the following details when prompted: cardholder name, card number, expiry date and the three-digit CVV number, which can be found on the back of the card
Select or enter the amount you wish to deposit
Agree to any terms and conditions
If you have two-factor authentication (and for security purposes, you should) follow the prompts to verify and complete your deposit
How To Make A Withdrawal Using Mastercard
Making a withdrawal is probably the most exciting part of gambling online, after playing casino games of course. Mastercard casinos and indeed credit card casinos generally make it fairly easy to withdraw using a debit or credit card, probably because it is such a popular payment method.
It is important to keep in mind that when you make a online casino Mastercard withdrawal request, particularly your first one at a specific online casino, it’s not just a matter of passing your winnings onto you. You must complete verification checks known as KYC or Know Your Customer. These are in place to prevent players using and abusing online casinos for nefarious means like fraud and money laundering.
A good proportion of online casinos will automatically process your withdrawal through the same method used for a deposit. So if you used a Mastercard credit card to deposit, this same method will be used for your withdrawal. This is not always the case but it is worth keeping in mind.
When making a withdrawal, the player will be asked to select their payment method, enter the amount they wish to withdraw and confirm the transaction. The payment should be processed in a matter of days.
Pros and Cons
As with all things in life, there are pros and cons to using your Mastercard to deposit and/or withdraw from an online casino.
We have listed the most important advantages and disadvantages below:
Credit/debit card deposits are usually instant so you can use your funds for real money play quickly
Mastercard is a leading brand with extensive security and safety measures in place to protect its customers
Aside from online casino Mastercard can be used to pay for many other goods and services
A small fee is often charged on withdrawals
Withdrawals usually take several days
Although small, the risk of credit card fraud real
Mastercard Fees, Commissions And Charges
Broadly speaking, there are no fees charged on deposits into an online casino account. In reality, there is a small processing fee but the operator usually pays this so the player doesn’t have to worry about it.
Some casinos do charge a withdrawal fee when using Mastercard as a payment method. This is usually small, around 2.5% of the withdrawal amount, but it is set at the operator’s discretion. To find out whether a withdrawal fee is charged and what the percentage is, head to your casino’s Banking page for this information.
Safety and Security
A brand as well known and respected as Mastercard must work hard to hold on to its good reputation and that’s why it has some of the most sophisticated customer protections in place. In 2006, it pioneered a system that remains in use today around the world, the PCI Data Security Standard. This includes elements of data protection, vulnerability management, regular network testing and access control measures implemented specifically to keep online payments secure.
Mastercard works closely with its merchant partners, including online casinos, to ensure that each and every player transaction is protected every step of the way through a series of rigorous checks, protections and system upgrades.
Other Methods Like Mastercard
There are a number of credit card options available to casino players as a means to deposit and withdraw. Perhaps the most popular is that other giant in the industry, Visa. Maestro, which is owned by Mastercard, is also widely accepted. A number of online casinos that welcome American players also accept Amex.
Mastercard takes security very seriously. With millions of transactions processed every day, the brand has become a leader in securing money transfers, both online and in stores. Casino players around the world can rest assured that their casino deposits and withdrawals are protected by industry-leading security measures.
Deposits into online casino accounts are usually instantaneous, which means you can get to the important business of enjoying casino games within a few minutes. Withdrawals to a Mastercard credit or debit card can take several days and that’s down to the stringent security measures put in place by the brand.
Yes, you can choose whichever payment method you like from the ones available. Keep in mind that many casinos will insist on processing a withdrawal using the same method selected for deposit. In some cases, where a deposit method is not available as a withdrawal method, you can select a different method through which to receive your winnings.
In terms of inherent risk, there is no difference between using a debit card or a credit card. If any account information fell into the wrong hands, that would spell trouble no matter what kind of card was used. However, it’s important to remember that if your debit card is linked to a current or savings account and you are the victim of fraud, you might stand to lose more money.
While we haven’t checked out every single casino out there, none of the ones we have visited charged fees on Mastercard deposits. This is down to the individual online casino though so it’s worth checking before you deposit.
The best choice is really down to personal preference but for players in New Zealand who want a fast, secure and widely accepted way to gamble online, in both NZ$ and a host of other currencies, Mastercard is certainly a top choice.
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