Mastercard: A proven payment method
Mastercard is one of the most trusted and used payment methods in and outside of Canada. Most online casinos accept MasterCard in Canada for both deposits and withdrawals. Making online transactions at a casino site is not much different from carrying out a payment with your energy company or when shopping online at Amazon.
Deposit at an online casino with MasterCard in Canada
What is MasterCard
Mastercard is one of the most trusted and used payment methods in and outside of Canada. Most online casinos accept MasterCard in Canada for both deposits and withdrawals. Making online transactions at a casino site is not much different from carrying out a payment with your energy company or when shopping online at Amazon. MasterCard, along with Visa, American Express and the likes, is so ingrained in our society that most of us have a card in our wallet. This makes Mastercard a convenient option, both available and allowed as a payment method in the online casinos. Regardless if you have MasterCard or any of the other available options, they all work in the same way, no different apart from the logo on your card. On this page, we will go through everything you need to know about MasterCard in Canada and using it when playing in online casinos.
The advantages of using MasterCard in Canada
MasterCard being widely adopted makes it a convenient option when depositing and withdrawing money to and from your casino account. Another positive aspect of using MasterCard is availability and ease of access - the chances are that you have a MasterCard an arm’s length away. Security and peace of mind is another advantage of using MasterCard. These days you will not be able to make a transaction without having to authorize the transfer from an app or through SMS verification. If your card is compromised, any transactions made by a perpetrator will be refunded. Lastly, generally, all online casino bonuses are comparative with MasterCard deposits.
Disadvantages of using MasterCard
The major disadvantage of using MasterCard is the slow processing times when withdrawing money from your casino account. One would wish that withdrawals were instant, just like deposits, especially after getting lucky and hitting a big win in the casino. Unfortunately, that is not the case. Typical withdrawal times using MasterCard are 3-5 banking days. Another disadvantage of using MasterCard in Canada is related to privacy. When making a transaction using your MasterCard, you need to enter both personal and financial information. If you deposit money into more than one casino, this means that you need to enter this information in several places. This data is stored in databases. While these databases are extremely secure, there is always a risk of cybercriminals breaching the databases in pursuit of personal data that can be sold on the black market or the dark web. So, there are some minimal privacy risks worth highlighting in relation to MasterCard.
Online casinos in Canada that accepts MasterCard
How to deposit to an online casino using a credit or debit MasterCard
As we already highlighted earlier, using your MasterCard in an online casino works pretty much the same way as when you shop online and make payments through Amazon. Typically, the payment flow for MasterCard is as follows:
Register and log in to the online casino
Head to the payment method section or hit a ‘Deposit’-button
Choose MasterCard from the list of available payment options
Enter the amount you wish to deposit
Enter your card details
Enter your personal details
Confirm the payment and authorize through SMS or mobile app
Once processed, the money will arrive in your casino account instantly
Fees and withdrawal times when using MasterCard
Online casino operators usually won’t charge you any fees when depositing or withdrawing money. Any mentions of online casinos doing so are probably from old and not updated casino reviews. Casinos used to charge fees, but it is a thing of the past. However, when using your MasterCard in Canada, your bank may charge you for online transactions related to online gambling. The fees are typically very low at most around 2%, but usually lower. If you are concerned about fees or want to learn more, the best is to contact your bank specifically and ask them. This is a good idea, so you don’t get an unpleasant surprise later on. As a disadvantage of using MasterCard in Canada, we mentioned that the processing time for withdrawing money is slow. Typically, it takes around 3-5 banking days. The long processing time is not the fault of the online casino operator, though. The casino will process your payment within a few hours up to 24 hours. The long wait is due to your bank and payment processor. In our experience, we would say that the average waiting time is 3-4 days, but it can, in some extreme cases, take even longer than five banking days.
How does Lucky7Bonus choose the best online casinos that accept MasterCard in Canada?
The Lucky7Bonus team is made up of both gaming enthusiasts and online casino industry veterans. We know online casinos from both the player perspective and the operational perspective. We strive to have an unbiased approach when reviewing and evaluating online casinos. The editorial team will scrutinize the texts written by our reviewers. Besides our own personal experience of playing in all the different online casinos, we also back all our information up with data and research. The goal is to produce honest and independent casino reviews that give a fair presentation of the reality of different online casino sites.
Conclusion MasterCard in Canada
MasterCard is one of the biggest brands in the world. All of us are familiar with it, and either owns a card or used to own a card at some point in our lives. MasterCard has been around since 1966 and was one of the first online payment methods in history. In the early days of online casinos, MasterCard was one of the few options available. It remains a popular payment method today thanks to convenience, ease of use and security. The main drawback of using MasterCard in Canada is the long withdrawal times.
FAQ MasterCard in Canada
Is my private data secure when using MasterCard in online casinos?
Yes, your private data is secure when using MasterCard, both during a transaction and after. Your information is stored in secure databases and not shareable with third parties. Personal data is only accessed when needed in relation to transactions made by you.
Is it safe to use MasterCard in online casinos?
Yes, security is the main priority of online casinos. A casino operator needs to adhere to strict requirements set out by regulatory bodies in accordance with the law. All transactions made are encrypted, and online casinos follow PCI DSS (Payment Card Industry Data Security Standard) protocols.
Do I have to pay any fees using MasterCard?
Online casino operators will typically not charge you any fees when depositing or withdrawing. However, your bank may charge your microtransaction fees relating to transactions to and from online casinos in Canada. These fees would vary depending on what bank you use. The best is to contact your bank and ask about it.
Is Master available in all online casinos in Canada?
MasterCard is one of the most widely accepted payment methods in online casinos in Canada. All casinos we have come across in our days have accepted MasterCard, but there are, of course, some that don’t.