Canadian Banks refusing gambling winnings

lockinlove

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Just a heads up to all my Canadian friends, I was advised today from the head of the bank of nova scotia they will no longer accept gambling winnings. If a wire transfer arrives, they will refuse it. And if any ewallet is used, that too will be denied.

I just had 3 withdrawals denied and told find another way we no longer accept this in Canada.

Great
 
I thought Scotia always had that policy, I know their visa debit or credit cards are restricted. CIBC is still working so far, hopefully they don't turn.

Just a heads up to all my Canadian friends, I was advised today from the head of the bank of nova scotia they will no longer accept gambling winnings. If a wire transfer arrives, they will refuse it. And if any ewallet is used, that too will be denied.

I just had 3 withdrawals denied and told find another way we no longer accept this in Canada.

Great
 
Cheers.
TD myself here and havent heard anything.
I'm sure casinos can have a work around - after all you can receive pay from overseas so I'm sure they can alter the title of receiving end

Yes I wish they would have more discreet billing info than what some use, raises so many flags, but guess that would not be easy to change.
 
Cheers.
TD myself here and havent heard anything.
I'm sure casinos can have a work around - after all you can receive pay from overseas so I'm sure they can alter the title of receiving end

Probably time to open another account then :D

This bank manager is very sketchy. She kept talking to me likes its a scam and how careful I need to be. And not to send them any money back lol

I told trada and slotsmillion to expect my money back since its refused they said they will figure out a way to get me money.
 
I thought Scotia always had that policy, I know their visa debit or credit cards are restricted. CIBC is still working so far, hopefully they don't turn.

They told me there was a policy in place but it was discretionary. Basically if they feel like accepting it they can but also have the right to deny it. But they said the new policy they have adopted is that they will be instantly refused and there will no longer be any exceptions.
 
REALLY strange. I just checked my bank account as I was waiting on a different payment from a Canadian site and saw that I was paid by slotsmillion. This is one of the ones she said she was declining.

But the Trada payment definitely has been sent back.

I can use this money since its in my account right? They cant go and take it back out?
 
Scotia bank closed my account because I asked a question about wire transfers from oversea.

Bank of montreal, CIBC and TD won't bother... For now??

Scotia bank are so dumb that the legal site Espacejeux is not even tolerated. Complete retards if you ask me.
 
Same with RBC, no issues so far, I wonder with Scotia if it will apply to ECheck (citadel), have you tried that? I just made a large w/d from Nostalgia and CR wouldn't let me wire transfer, made me use ECheck (which was cheaper anyway)
 
Kind of sad really

I was just looking into opening an account with playnow bc is that an omen?
It would be a steady diet of that Rhino game.

And yet I've been good to go with instadebit, still accepted at a host of sites,
though Guts took that away....so now BMO better be accepting wires....

barbara12 may have an answer with that ecopayz.
 
Same with RBC, no issues so far, I wonder with Scotia if it will apply to ECheck (citadel), have you tried that? I just made a large w/d from Nostalgia and CR wouldn't let me wire transfer, made me use ECheck (which was cheaper anyway)

I dont have that option on those sites. I do however have instant banking on sportsinteraction. It takes 24-48 hours after processed to arrive in my bank with zero complaints. I am also able to deposit with my scotia bank visa card with them but its a little different. You buy a voucher and its processed that way. Im going to assume its SIA casino smart way to get around things.

It looks like Scotia know about ewallets thought because they mentioned ecopayz to me today and a few others they wlll no longer be accepting. She also said CIBC will soon be following.
 
Maybe the less complicated option here is to stop gambling online. It's already hard enough to win.... Now you have to fight with your bank to receive your winnings? No thanks. Depressing.
 
Not Canadian but maybe a small suggestion ref.: Ecopayz.

They allow you multiple accounts and for each you can apply for a MasterCard Debit Card. Using that you can withdraw up to 750EUR/day on each card, the max. is 250EUR/ withdrawal. It will cost you appr. 8EUR for each withdrawal but with, lets say, 4 cards you can withdraw 3,000EUR/day which is roughly 4,500CAD. :thumbsup:

You can make up to 8 withdrawals / card within 5 days and a max. of 3/day/card. That should cover most casino payouts you have, unless of course you are a high roller :D

The transfer to your bank is costing you as well 15-30CAD + currency exchange fees, maybe even more, hence the Ecopayz withdrawal fees won't be that much more but at least you can get to your money whenever you want and without any Canadian bank knowing about your winnings.

I have 3 cards and should i have a nice payout from a casino i just transfer between my accounts to cover for the cash withdrawals. Never had an issue. :)
 
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Not Canadian but maybe a small suggestion ref.: Ecopayz.

They allow you multiple accounts and for each you can apply for a MasterCard Debit Card. Using that you can withdraw up to 750EUR/day on each card, the max. is 250EUR/ withdrawal. It will cost you appr. 8EUR for each withdrawal but with, lets say, 4 cards you can withdraw 3,000EUR/day which is roughly 4,500CAD. :thumbsup:

You can make up to 8 withdrawals / card within 5 days and a max. of 3/day/card. That should cover most casino payouts you have, unless of course you are a high roller :D

The transfer to your bank is costing you as well 15-30CAD + currency exchange fees, hence the Ecopayz withdrawal fees won't be that much more but at least you can get to your money whenever you want and without any Canadian bank knowing about your winnings.

I have 3 cards and should i have a nice payout from a casino i just transfer between my accounts to cover for the cash withdrawals. Never had an issue. :)

Good suggestion. Let me add that it might be cost-saving if you buy vouchers with the MasterCard to just purchase your ordinary stuff like food/cloth etc. or directly use your card in the supermarket. The obvious drawback is that the winnings will sit in an e-wallet until used which for some isn't the safest place when the gambling-cravings are spooking.
 
Not Canadian but maybe a small suggestion ref.: Ecopayz.

They allow you multiple accounts and for each you can apply for a MasterCard Debit Card. Using that you can withdraw up to 750EUR/day on each card, the max. is 250EUR/ withdrawal. It will cost you appr. 8EUR for each withdrawal but with, lets say, 4 cards you can withdraw 3,000EUR/day which is roughly 4,500CAD. :thumbsup:

You can make up to 8 withdrawals / card within 5 days and a max. of 3/day/card. That should cover most casino payouts you have, unless of course you are a high roller :D

The transfer to your bank is costing you as well 15-30CAD + currency exchange fees, maybe even more, hence the Ecopayz withdrawal fees won't be that much more but at least you can get to your money whenever you want and without any Canadian bank knowing about your winnings.

I have 3 cards and should i have a nice payout from a casino i just transfer between my accounts to cover for the cash withdrawals. Never had an issue. :)

There would be an added cost for US dollar exchange, we're dealing in CDN dollars
 
Maybe the less complicated option here is to stop gambling online. It's already hard enough to win.... Now you have to fight with your bank to receive your winnings? No thanks. Depressing.

Or you can play at the fortune lounge group or palace group where they will send you a check however there is that nasty 24 hour reversible period.
 
There would be an added cost for US dollar exchange, we're dealing in CDN dollars

Yes Stevie, as i said the total cost for a withdrawal of 250EUR (350CAD) comes to appr. 8EUR (12CAD).

The EP accounts can be held in CAD, USD, EUR, AUD and some other currencies. The debit cards however are only available in EUR or USD.

It works fine for me, and of course i don't like the fees but i mostly just withdraw from the casino a little extra to cover for those.
 
OK, i break down the most recent one i had for 250EUR (well, a little over, EP allows that somehow), so you can see how much it actually costs:

- Withdrawal: 10,000THB
- Thai Bank fee: 200THB
Total Withdrawal: 10,200THB

- Ecopayz Exchange rate: 1THB = 0.0267EUR
- Total in EUR: 273,09

- Actual Exchange Rate on 10th March: 1THB = 0.0262EUR
- Actual total in EUR: 267.24

- Ecopayz currency exchange loss/cost: 273.09 - 267.24 = 5.85 EUR
- Ecopayz Charge for withdrawal: 5.46EUR.
Total cost for withdrawal: 5.85EUR + 5.46EUR = 11.31EUR or 16CAD

Sorry, i got it wrong in my previous post by a few EURO as i forgot to add the 200THB the Thai bank is charging and i only saw now that they increased it from 120THB to 200THB, bastards :rolleyes:

Now lets say you get a payout from a casino of 2,000CAD:

- 5 x Withdrawals with Ecopayz Card @ 350CAD; Cost: 5 x 16CAD = 80CAD ; 170CAD left in your EP account for your next gaming session :D
- 1 x Bank Wire: Bank Charge = 30CAD + any currency exchange fees

RESULT: Bank Wire is cheaper as you only have one transaction but it can't beat the convenience of just going to any ATM and withdrawing the cash the minute the casino payout has hit your Ecopayz account. The fastest i had was the last bigger withdrawal from VS, they paid in 9 minutes, another 2 minutes later i had the cash in my hands. :D

Personally, i am not that much bothered if it is somewhat more expensive or not. If i spend 40-50K / year in casinos looking at a few bucks more or less for withdrawals does look rather silly. :rolleyes: ... more important is that i don't wait days or weeks to have the dosh in my hands. :D

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Yes Stevie, as i said the total cost for a withdrawal of 250EUR (350CAD) comes to appr. 8EUR (12CAD).

The EP accounts can be held in CAD, USD, EUR, AUD and some other currencies. The debit cards however are only available in EUR or USD.

It works fine for me, and of course i don't like the fees but i mostly just withdraw from the casino a little extra to cover for those.

Wah. Yes. Thx. That's what I'm gonna do...I'm taking a trip to the USA and will transfer it all out to the card you are talking about. Screw the bank.
Usd exchange right now is almost 30 cents more. Ie 100 CDN is about 78 $ Usd. I'm gonna have to buy us currency anyway.

And by the way we all wish we were making withdrawals of 3k let alone up to 8 withdrawals a week. Lol.
 
Wah. Yes. Thx. That's what I'm gonna do...I'm taking a trip to the USA and will transfer it all out to the card you are talking about. Screw the bank.
Usd exchange right now is almost 30 cents more. Ie 100 CDN is about 78 $ Usd. I'm gonna have to buy us currency anyway.

And by the way we all wish we were making withdrawals of 3k let alone up to 8 withdrawals a week. Lol.

Yeah, indeed. :D

It has been hard toiling lately. My last withdrawal >3K was beginning of March. Since then just small stuff and nothing for the past 2 weeks :eek:
 
If you can, open an account with a Credit Union, they are never as intrusive as the large Canadian banks and have much lower monthly fees, if any. Also, have never had a problem using echeck for both deposits and withdrawals for over 10 years with the CR group (which is now accredited). Echeck is fee free but does interact directly with your bank account, which some people may be uncomfortable with. The only other casino group that offers echeck for both deposits and most importantly withdrawals is the Palace group. Have never found echeck available in any other platform but Microgaming unfortunately. Some MG casinos do offer it as a "deposit option" only so beware.
 

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