Frequently Asked Questions (FAQs) | Mastercard (2024)

Where can I get a Mastercard Prepaid Card?

It’s easy to find the Mastercard Prepaid Card that’s right for you. They are available at participating stores, bank branches and online.

Do I have to activate and register my prepaid card before using it?

Activation and registration requirements vary, so check your card packaging for detailed instructions. To take advantage of the reload function and card benefits such as zero liability or card replacement, you will need to register your card.

How do I use a Mastercard Prepaid Card?

When you’re ready to make a purchase, give the cashier your card or, if asked, swipe your card at the terminal. The purchase amount will automatically be deducted from the card balance.

Where can I use my Mastercard Prepaid Card?

You can use your Mastercard Prepaid Card anywhere that Mastercard is accepted – that’s millions of locations worldwide from retail stores to online, mail and phone orders. You can also use your card to pay bills online.

My available card balance will not cover my purchase amount. Can I still use my prepaid card?

Yes, just tell the cashier in advance how much to deduct from your prepaid card and how much you will pay using an alternate payment method. Note that this process, known as “split tender,” may not be supported by all merchants.

How do I return an item that was purchased on a Mastercard Prepaid Card?

When you make a return, the cashier may ask to see your card. The value of the returned merchandise will be credited back to the card.

I can’t find my Mastercard Prepaid Card. What should I do?

If you registered your Mastercard Prepaid Card, then the financial institution that issued your card can use the information you provided during registration to issue a replacement card. Be sure to keep a record of the card number.

Contact the issuer of your card immediately to report the lost or stolen card. You can also contactEmergency Services for additional assistance.

Mastercard Everyday Prepaid Cards that have been registered include Zero Liability Protection. Certain exceptions apply. Clickhere for terms & conditions for Zero Liability.

How do I add funds to my card?

If you have a reloadable Mastercard Prepaid card, the best way to add funds to your card is to set up direct deposit of your pay cheque. Once your card is registered, take your card’s direct deposit information to your employer to have your pay cheque automatically put on your card each payday. Direct deposit information varies, so check your card packaging or contact the card issuer.

You can also add money to your card at participating retail locations. Check your card packaging or contact the card issuer to find out which retailers are supported.

Where can I get a Mastercard Prepaid Gift Card?

Mastercard Prepaid Gift Cards are available at thousands of retail locations across Canada. There are many card styles to choose from. It’s easy to find the prepaid gift card that’s right for you.

I received a Mastercard Prepaid Gift Card. Do I need to activate or register my card before using it?

Check your gift card, the receipt or related packaging for any specific activation instructions. Many Mastercard Prepaid Gift Cards sold in retail locations are automatically activated when the card is purchased. Call the customer service number on the back of the card if you have questions about how to activate the card. For online and telephone purchases, you may need to register your card with the card issuer.

How do I use a Mastercard Prepaid Gift Card?

When you’re ready to make your purchase, give the cashier your card or, if asked, swipe your card. The purchase amount will automatically be deducted from the card balance.

Where can I use my Mastercard Prepaid Gift Card?

You can use your Mastercard Prepaid Gift Card anywhere Mastercard is accepted – that’s millions of locations worldwide from retail stores to online, mail and phone orders. You can also use your card to pay bills online.

 How long can I use my Mastercard Prepaid Gift Card?

You can make purchases on your prepaid gift card until the value of the card has been depleted, or until the expiration date shown on the card. If your card expires before all of the funds have been depleted, you are still entitled to access the funds. Contact the card issuer to find out how to regain access to the funds.

What happens if I need to return an item purchased using my Mastercard Prepaid Gift Card?

When making a return, you may be asked to show the card that was used to make the purchase. The value of the returned merchandise will be credited back to your card.

How do prepaid travel cards work?

Prepaid travel cards work just like all Mastercard Prepaid cards, which means you can spend up to the value placed on the card anywhere Mastercard is accepted. You can shop in stores, online or over the phone. As you make purchases with the card, funds are immediately deducted from the available card balance. You can continue to use your card until the card balance has been depleted or until the expiration date shown on the card.

How can I get the balance on my prepaid travel card?

Depending on your card, you may be able to check your balance on the financial institution’s website. Certain merchants will also have the ability to read your card’s balance for you.

What if my card is lost or stolen?

Contact the issuer of your card immediately to report a lost or stolen card. There is a customer service number listed on the back of the card. Be sure to keep a record of the Mastercard Prepaid Travel Card number. Your issuer may need this information to cancel the card and issue a replacement.

If you registered your Mastercard Prepaid Travel Card, it may provide Zero Liability Protection. Certain exceptions apply. Clickhere for terms & conditions.

How do I check my Mastercard Prepaid Card balance?

You can check your balance by following the instructions provided with your card. Generally, this includes either visiting the card issuer’s web site or by calling the phone number on the back of the card.

Can I use my Mastercard Prepaid Card for installments or recurring payments?

You may use your Mastercard Prepaid Card to make an individual payment, but you may not be able to register your Mastercard Prepaid Card for regular or recurring payments like your mobile phone or cable bill. Check with the biller to see if they will accept your Mastercard Prepaid Card for installment or recurring payments.

Can I use my Mastercard Prepaid Card at a restaurant where I pay a tip?

Some restaurants and other service providers will add up to 20% to your bill when they request authorization for a purchase to cover any tip you might add. As a result, your Mastercard Prepaid Card may get unexpectedly declined. Always be sure to know your card balance in advance and remember that the restaurant may attempt to authorize an amount higher than the total that appears on your bill.

Can I use my Mastercard Prepaid Card for a car rental or hotel reservation?

Car rental agencies and hotels may require a credit card for making a reservation. However, they will accept your Mastercard Prepaid Card for final payment at the end of the rental period or hotel stay. Check with the car rental agency or hotel in advance to ensure you are aware of their policies.

Can I use my Mastercard Prepaid Card to buy gas?

Due to the way gas purchases are pre-authorized, some gas stations accept prepaid cards only inside the store and not at the pump. Check with the gas station for details.

Questions not answered here?

If your question is not listed, we recommend that you contact the financial institution that issued your account as only they hold information specific to your account. You can reach them using the phone number on the back of your card.

Frequently Asked Questions (FAQs) | Mastercard (2024)

FAQs

What is the disadvantage of Mastercard? ›

The disadvantage of Mastercard is that their credit cards tend to offer fewer benefits than Visa cards, and Mastercard debit cards don't always provide full protection from ATM fraud. Still, owning a Mastercard has far more advantages than disadvantages.

What are some fun facts about Mastercard? ›

In 1988, the first MasterCard card was issued in the Soviet Union. In 1985, we acquired the Cirrus ATM network and we launched Maestro, the world's first online point-of-sale debit network, in 1991. We merged with Europay International in 2002 and converted from a membership association to a private share corporation.

How do I talk to a live person at Mastercard? ›

You can also contact the Mastercard Assistance Center toll-free at 1-800-Mastercard (1-800-627-8372), or collect from outside the U.S. at 1-636-722-7111. If you believe your question can only be answered by Mastercard, please submit your question here.

Why won't my Mastercard gift card work? ›

There are a few reasons why a transaction was declined: The Card has not been 'activated' yet. The transaction value is greater than the available balance on your Card.

Why do companies not accept Mastercard? ›

Mastercard is not accepted at certain stores and merchants that only take cash, such as vendors at a local fair. Mastercard is also not accepted at retail chains that have an exclusive agreement with another card network. For example, Costco accepts Mastercard only for online purchases.

Which is safer Visa or Mastercard? ›

Which is more secure? Both Visa and Mastercard offer zero fraud liability for all cards, which means that any user who is victim to fraud, theft, or breach of data will not be liable for the lost money. Both networks are generally considered to be secure, but use different methods for securing your data.

What is Mastercard famous for? ›

Mastercard is the second-largest payments network, ranked behind Visa, in the global payments industry. Other major payments networks include American Express and Discover. Mastercard partners with member financial institutions all over the world to offer Mastercard-branded network payment cards.

What makes Mastercard different? ›

They have different fee structures

Visa charges data processing fees to the card issuer on a per-transaction basis, while Mastercard charges issuing banks connectivity fees to use the Mastercard network itself during different stages of the payment processing workflow.

Why is Mastercard better than Visa? ›

Visa and Mastercard are the two largest card networks in the world, accepted in more than 200 countries and territories. Mastercard credit cards are more widely accepted internationally, while Visa cards tend to offer more benefits. But for most consumers, there is no practical difference between Visa and Mastercard.

Who owns Mastercard? ›

Mastercard (MA) Ownership Overview

The ownership structure of Mastercard (MA) stock is a mix of institutional, retail and individual investors. Approximately 47.20% of the company's stock is owned by Institutional Investors, 10.69% is owned by Insiders and 42.11% is owned by Public Companies and Individual Investors.

What banks use Mastercard? ›

Instead, Mastercard partners with financial institutions to issue cards on its network. Some of the biggest financial institutions that issue Mastercard credit cards include U.S. Bank, Synchrony Bank, Citi, Chase, Capital One, Barclays, Bank of America and Avant, though there are many others.

What is the difference between a Visa card and a Mastercard? ›

Visa charges the card issuer on a per-transaction basis or based on the card volume. Contrarily, MasterCard charges card-issuing institutions based on the percentage of global dollar volume. Global dollar volume refers to the total volume of all transactions made using MasterCard-enabled cards within a specific period.

Do I have to activate a MasterCard gift card? ›

If you don't activate the gift card, payment transactions will be declined because the temporary bank account is not ready or is not linked to the card number you have.

How does Mastercard work? ›

Here's how this actually works: Authorization: When a Mastercard is swiped, dipped, or entered online, the transaction details are sent to the business's bank, then forwarded to the cardholder's issuing bank for approval. Mastercard's network is the conduit for this data exchange.

How do I check my Mastercard balance? ›

You can usually check your Mastercard credit card balance online by logging in to your issuer's website. Alternatively, you can also check your balance through the issuer's mobile app or by calling the number on the back of your card. However, keep in mind that Mastercard is just a card network.

Is Mastercard good or bad? ›

Mastercard credit cards are more widely accepted internationally, while Visa cards tend to offer more benefits. But for most consumers, there is no practical difference between Visa and Mastercard. You should only worry about whether to get a Visa or Mastercard if you're torn between two offers.

What are the pros and cons of a Mastercard credit card? ›

The pros of Mastercard credit cards range from credit building to 0% financing and rewards. The cons of Mastercard credit cards include the potential to overspend easily, which leads to expensive debt if you don't pay in full, as well as credit score damage if you miss payments.

Is it better to have Mastercard or Visa? ›

Visa and Mastercard: Key differences

Because Visa and Mastercard have nearly identical global acceptance records, it rarely makes sense to pick one type of card over the other based on where you can use it. The only real differences between Visa and Mastercard are the features and rewards individual cards offer.

Why is Visa better than Mastercard? ›

Although Mastercard and Visa cards are accepted almost everywhere in the globe, Visa cards have a few more advantages. Even with a Visa card at the most basic level, you can access advantages like stolen or lost card reporting, urgent card replacement, emergency cash disbursem*nt, roadside dispatch, and zero liability.

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