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What is Mastercard?
In Canada, Mastercard is one of the most popular deposit options at online casinos. It’s also an extremely common way to pay for other goods and services. It helps process payments between purchasers and merchants, and was formally known as Interbank.
Where can I use Mastercard?
In terms of flexibility, there are few cards as useful as Mastercard, because it’s accepted in so many places. Using Mastercard in Canada is simple. From small businesses to digital retailers and online casinos in Canada, Mastercard is widely accepted, just as Visa is.
In addition to making online payments, you can use Mastercard in Canada at ATMs. So, it’s possible to deposit online using Mastercard, withdraw your winnings, and then take them out in cash at a physical ATM.
Many of you in Canada will already own a Mastercard, making this one of the most convenient payment options.
Different types of Mastercard
There are several different types of Mastercard in Canada, allowing you to select the card which best suits your lifestyle. Here, our experts will walk you through the main types of Mastercard in Canada:
If you have a good credit rating, you may be eligible for a Mastercard credit card. Not only do these cards allow you to spend money and pay it back later (with interest), but if you get one you’ll also gain access to special rewards and services.
Credit cards are famously reliable when it comes to reclaiming funds against questionable merchants. This might give you extra piece of mind if you’re ever subjected to a casino scam. Of course, one easy way to avoid scams is to use the top-recommended Canadian casinos on this site.
In certain regions, like the U.K., credit cards cannot be used at online casinos. This is something worth keeping an eye on, in case Canadian laws follow suit.
Mastercard in Canada also produce debit cards. These have similarities to credit cards in that they’re widely available, can be used to pay for goods at a huge variety of stores and online casinos, and can be obtained from the same financial institutions as credit cards.
Unlike credit cards, debit cards usually require you to have sufficient funds in your account before you can spend. In some cases, you may have an overdraft arranged, which means you can dip below a zero balance. This may subject you to additional fees.
One popular option offer by Mastercard for online casinos in Canada is the prepaid card. As the name suggests, you pay in advance with these cards. This makes it easier to keep an eye on your spending, and realise when you’ve reached your limit.
A prepaid Mastercard is a smart option for players who want to impose strict limits, or sometimes don’t realise how much they’re spending. You can add a set amount which is your limit for the day and, if you run out, make the decision not to reload again.
Can I withdraw at online casinos with Mastercard?
One downside of using Mastercard at online casinos in Canada is that it’s not always easy to make a withdrawal. An increasing number of sites have been removing Mastercard as an option to cash out, and only leaving it as a deposit method.
If you’ve made a deposit and won some money, only to realise you can’t cash it out, this will be frustrating. Luckily, there are usually a large number of deposit methods for casinos, and you can probably add another which you can then use to withdraw. However, there’s no denying it would be easier if all casinos in Canada accepted Mastercard for withdrawals as well as deposits.
Is Mastercard safe for casino gambling?
Mastercard is one of Canada’s safest options for gambling. If something goes wrong when you use a Mastercard, you’re afforded a great deal of protection from the financial institution behind it.
The one unsafe aspect of using a Mastercard to gamble is that, if you use the credit card, it’s not your money. This is only specific to the credit cards, not the debit or prepaid cards. If you play responsibly this is not an issue as you’ll simply pay your monthly bill to cover any losses. Always bet within your means.