***Updated: November 11, 2018***
During the beginning of America’s love affair with plastic money, shortly after the end of World War II, credit cards were still being referred to as “charge cards”. John Biggins at the Flatbush National Bank in Brooklyn, New York saw millions of returning servicemen and women, and correctly predicted that there would be a lot of consuming taking place throughout the Empire State (and beyond).
Biggins then devised the “Charg-It” card that would allow buyers to purchase goods without having the cash. The bill would be passed on to the Flatbush National Bank for reimbursement and he would be responsible for collecting the “loan”, which customers had 30 days to re-pay. It was a brilliant scheme…as long as the Charg-It card holder had an account in the Flatbush National Bank and only shopped at participating local merchants.
In the mid 1960s, the Bank of America figured out a way to liberate customers from local institutions through an innovative network of banks across the country that would guarantee the charge card purchases. The BankAmericard, now known as “VISA”, triggered the “buy now and pay later” revolution by eliminating the obligation of full payment within thirty days in favor of revolving credit and interest on the “loan.” It didn’t take long for every major bank in America to realize the revenue potential of the new system and they all started clambering for a piece of the action.
In New York, the First National City Bank, (today known as Citibank), hustled its “Everything Card” onto the market. Out in California a posse of heavy hitters including Wells Fargo, the Bank of California, and Crocker Bank joined forces to issue the “Master Charge: The Interbank Card“. After a decade of shuffling and merging and positioning, the 1980s arrived with two major bank-backed credit cards: VISA and MasterCard.
Deposit with MasterCard
Credit cards are welcomed at around 99% of USA online casinos so a MasterCard holder should never be without a place to play. Surprisingly, operators are likely to be even friendlier to MasterCard than its rival VISA, since it acts as a co-operative for over 25,000 international institutions worldwide. This is very important because the Unlawful Internet Gambling Enforcement Act of 2006 (UIGEA) was trying to regulate online gambling in the U.S. and made it illegal for American banks to process financial transactions between casinos and players. Therefore, with MasterCard’s global network there’s a better chance that there’s a foreign bank ready and willing to facilitate the transaction.
All purchases made with a credit card obviously require an exchange of personal information, which can sometimes be dangerous in a digital world. That said, operators do keep your information on file and use the exact same encryption methods as banks, so future deposits will be hassle-free and are always 100% safe. Another thing to keep in mind is that most websites will impose minimum and maximum deposit limits for MasterCard transactions, aside from any normal limits placed on the card by the company itself.
This method is instantaneous and credit checks do not need to be performed if the data used to open the casino account matches what MasterCard has on file. They employ thousands of people across the world to take care of things like fraud protection, limited liability, and identity theft so it’s not uncommon for a transaction to get falsely flagged if things look irregular. However, the acceptance rate of MasterCard transactions is actually slightly higher than when you deposit at an online casino with VISA due to their robust global network and excellent fraud team. Therefore, you’ll want to grab this card out of your wallet first, if you have one.
USA Online Casino MasterCard Deposits
In this day and age there are tons of different ways to move money around but credit cards will always be at the top of the list for people who want some familiarity, not to mention a clear paper trail. If this sounds like you, always try to deposit with MasterCard instead of any of their competitors since the acceptance rate is higher and the merchant fees are lower. Why should you care about the fees? Simple: it’s now very much in fashion for online casinos servicing the USA to pass their fees on to you, the player.
For many years gambling websites had no problem covering the processing fees for you since credit cards was how 95% of people funded their accounts. However, we now have the amazing invention of cryptocurrency which is much cheaper and basically hassle-free so every casino on the internet is trying to push their players to use it. Sadly for those in America, the free ride is over for credit card deposits and if you want to continue to use them, you’d better be ready to pay for the privilege.