Credit cards are the most commonly used method for cashless transactions. However, for better management of the finances, debit cards are a better choice. Debit card transactions directly deduct money from the account rather than accumulating debt in the owner’s name. Maestro from MasterCard is the most reliable name in the arena of debit card transactions.
Maestro as a service was established in 1992. Because of its immense popularity and long history in the industry, most of the online casinos offer Maestro transactions. It is the favorite of the online gamblers, subsequently making it the favourable choice of the casinos as well. A Maestro card can be availed from any reputable financial institution worldwide and is very simple to use. A Maestro card is not like a credit card where a credit limit would be provided by the financial institution. It is a debit card that cannot be overdrawn, making it the ideal choice for gamblers who have a tendency to go with the flow.
Functioning of Maestro
Maestro cards are acknowledged in more than 100 countries worldwide. For being able to use a Maestro card, the user needs to have a bank account with enough funds, so that the user can use the card details to make transactions on the online casino. The account needs to have cash at all times as a Maestro card cannot be overspent.
Once the user has completed the above process, the user can now visit any of the online casinos that accept Maestro transactions and register on them. Of course, this is followed by a deposit of money into the casino by the player. To complete the registration process the user needs to punch in the card information like the card number, expiry date, and CVV code.
Other details like billing address, cardholder’s name, and other personal details are also demanded by online casinos. All such details are normally taken up by the casino website for a fair and legal transaction. During the registration process, even secure codes might be asked by the website. This could be necessary for the banks to check the availability of funds in your account to make a deposit. This is a very quick check which helps in eliminating the online fraud issue.
Other popular payment solutions
Maestro transactions are executed instantly. Every Maestro transaction goes through a verification process. Security codes are sent by the bank to the phone number of the original user of the card. Once these codes are verified, the funds are transferred immediately in or out of the card holder's bank account. This is where it is different from a credit card.
Just like in the case of a credit card, the cardholder receives a bill at the end of each month. For a player who wants to have access to their winnings, withdrawals take more time to be processed than deposits. Yet, this continues to be one of the most effective and quick withdrawal methods among the online casinos.