MasterCard was first launched as a credit card in 1966 under the name of Master Charge by a consortium of California banks that included United California bank and Wells Fargo. The name of the card was changed to MasterCard in 1979. Today, MasterCard Incorporated is the name of the company that owns the MasterCard credit card brand. It is a global company with its headquarters in Purchase in New York. The company went public in 2006 and is quoted on the NYSE. The credit will be offered to you by the bank that issues the card and not MasterCard. This bank will decide the terms and conditions and you will be dealing with them.
MasterCard was among the first credit cards to be used at land based outlets. Today it is one of the most reputed credit cards for online payments to merchants. The transactions are totally secured using the latest technology.
Advantages of MasterCard banking method
If you already have a MasterCard credit card, then the biggest advantage would be that you need not bother with any other deposit option. You can stay with the one that you are familiar with. And since MasterCard is accepted at all US online casinos, you need have only this option for all your Internet gambling requirement.
With MasterCard credit cards your deposits will be credited instantly and you will see it immediately in the balance of your online casino account. So there will be no waiting period. You can even load your online casino account from your mobile phone using MasterCard.
Disadvantages to MasterCard banking method
US online casinos do not allow withdrawal of winnings to MasterCard credit cards. Therefore, players who make deposits using this option, have to get their winnings through other options. Another problem that you may face with MasterCard is that some issuing banks in the US treat deposits to online casinos as cash advances and levy charges on those, which can be quite significant.
MasterCard gives you funds on credit that has to be settled at the end of the billing cycle. Some US players may be tempted to overreach the facility thinking that they will be able to square up the account from their winnings.
How to use MasterCard banking method at online casinos
When you sign up at a US online casino, you will be asked to select a deposit option. Select MasterCard at this stage. Then register your card by filling up the online form. The details asked for include your 3-digit CVC number. Rest assured that the CVC number will not be accessible by anyone. It is required for your convenience and security. You now need to enter only your CVC number and not the full details when making the deposit. If in the extremely unlikely event someone is able to log into your account, he will not be able to use the card without knowing the CVC number.
When you want to make a deposit you log in at your US online casino as usual. Go to the banking section and select the Deposit option. You will see a list of payment options and should select MasterCard credit card. After that you enter the amount that you want to deposit and the CVC number. You then click the button to complete the deposit transaction. The deposit will instantly be loaded to your online casino account.
We recommend that you sign up for the MasterCard Secure Code facility that adds another layer of security to the deposit process. When you click the button to make the deposit you will first be taken in a secure manner to another portal where you will be asked to enter the password that you have registered with MasterCard. If the correct password is not entered then the transaction is cancelled. Only if the password is correct will your payment go through. In order that your deposit request is not rejected on trivial grounds ensure that the amount entered is within the minimum and maximum limits prescribed by the US online casino and within the available limit on your MasterCard credit card.