Canadian Banks

[bebo67]

Hello everyone, First of all I want to say Vegas Partner Lounge is up and running, and I actually won . Processed with in 24 hrs, which considering the back log they must have, that's pretty amazing. Funny how panicky we can get and think the worse, but yet trust depositing our money into a faceless internet hole. Personally I think they should move up a bit in accreditation. Now my question. Fellow Canadians, when you have won a large amount how has that worked with the banks? I'm with TD and have blocks with depositing. Is there an amount that starts getting flagged if someone wanted to do a bank transfer? Thanks

 

[Adriana B]

Geez. I wish I knew but I have never won large amounts. If it is a lot then it might be flagged but it's doubtful. I have had small withdrawals go into my TD bank from OLG but never more then $100. I'm sure you'll be okay.

 

[bebo67]

Geez. I wish I knew but I have never won large amounts. If it is a lot then it might be flagged but it's doubtful. I have had small withdrawals go into my TD bank from OLG but never more then $100. I'm sure you'll be okay.

Are you able to deposit with your TD at OLG? I can't do any Casino deposits, thats why I was asking.

 

[Adriana B]

Ahhh .. depositing, unfortunately, I know well. Yes. I was able to deposit on OLG from TD not on these other offshore sites (never tried). There are too many fees anyway associated with deposits/withdrawals to your bank. Some of the casinos that do accept a bank transfer have ridiculous fees. I am quite sure that you will receive your money -- just be patient though -- it can take up to 5 days

 

[me_and_ed]

OLG much like Playnow here in BC use Interac transfer, the banks all pay and reap the financial benefits from Interac, as for TD they are opposed and block all gaming transactions, incoming wire transfers are a different thing, they wont say a word or block anything

 

[bebo67]

OLG much like Playnow here in BC use Interac transfer, the banks all pay and reap the financial benefits from Interac, as for TD they are opposed and block all gaming transactions, incoming wire transfers are a different thing, they wont say a word or block anything

I ended up withdrawing half in cheque form, then next week I will withdraw the rest. I just need not be playing it out. Chances are since the last two days it was a hefty amount, I wont be winning again anytime soon.

 

[jshort]

Hello everyone, First of all I want to say Vegas Partner Lounge is up and running, and I actually won . Processed with in 24 hrs, which considering the back log they must have, that's pretty amazing. Funny how panicky we can get and think the worse, but yet trust depositing our money into a faceless internet hole. Personally I think they should move up a bit in accreditation. Now my question. Fellow Canadians, when you have won a large amount how has that worked with the banks? I'm with TD and have blocks with depositing. Is there an amount that starts getting flagged if someone wanted to do a bank transfer? Thanks

The most I've withdrawn via a bank withdraw is $6500 I believe. Actually I think it was from VPL casino too

You should get Instadebit. For some reason withdrawal requests are processed much more quickly from the casino to my Instadebit account than directly to my bank.

 

[AintWon1967]

My biggest single withdrawal was a $10,000 bank transfer from All Jackpots. My bank did not say anything to me or question me. I bank with Envision Financial Credit Union and ScotiaBank and have never had issues with either and have had other transfers up to $6,500 besides the $10,000.

I have deposited large cash amounts when I withdraw to my Titanium Visa and I withdraw it from Money Mart to put in my bank. I have only been asked about a large cash deposit from a bank teller once, and I just said I was lucky and had won it playing slot machines she just congratulated me and deposited it to my account.

I find InstaDebit is always taking 5 business days to send funds back to my bank account for a long time now. I like it for small amounts I am going to play back, but I hate waiting so long for big withdrawals I want safe in my bank account. After reverse periods & weekends and then the 5 business days, I find the Titanium Visa and bank transfers faster (If Processed Monday it is in account Tuesday or Wednesday at the latest...but I only play at 32Red, Guts and All Jackpots)

Connie

 

[spintee]

My biggest single withdrawal was a $10,000 bank transfer from All Jackpots. My bank did not say anything to me or question me. I bank with Envision Financial Credit Union and ScotiaBank and have never had issues with either and have had other transfers up to $6,500 besides the $10,000.

I have deposited large cash amounts when I withdraw to my Titanium Visa and I withdraw it from Money Mart to put in my bank. I have only been asked about a large cash deposit from a bank teller once, and I just said I was lucky and had won it playing slot machines she just congratulated me and deposited it to my account.

I find InstaDebit is always taking 5 business days to send funds back to my bank account for a long time now. I like it for small amounts I am going to play back, but I hate waiting so long for big withdrawals I want safe in my bank account. After reverse periods & weekends and then the 5 business days, I find the Titanium Visa and bank transfers faster (If Processed Monday it is in account Tuesday or Wednesday at the latest...but I only play at 32Red, Guts and All Jackpots)

Connie

I do not know what rules you have over there but what business is it of theirs asking you where money come from? If my bank ask me that I tell them none of there f business

 

[AintWon1967]

I do not know what rules you have over there but what business is it of theirs asking you where money come from? If my bank ask me that I tell them none of there f business

In Canada, it is mandatory for Banks, Financial Institutions, Security Dealers etc. to report to the "Financial Transactions and Reports Analysis Centre of Canada" (FINTRAC) when you have bank transfers and or cash deposits of $10,000 or more or multiple deposits equaling $10,000 or more with in 24 hours.

It is part of the Proceeds of Crime (Money Laundering) and Terrorist Financing Act. It is to monitor for proceeds of crime, money laundering and terrorist financing. If it gets forwarded as suspicious deposit activity, you will be investigated.

I would rather the bank report say we had a deposit of $10,000 from a client than them send a report that says investigate this person, her name is Connie, she deposited $10,000 and we think she is a drug dealer or terrorist

They just need to hear a valid and plausible reason why you have so much money to deposit that isn't you regular paycheck: sale of house, life insurance payment, private sale of a vehicle, estate sale.

Small amounts the Bank shouldn't ask about, but ones they need to report, you need to answer. If you refuse to tell them and let them determine it is not suspicious for their report, you will wind up having to tell the Government Inspectors and Police later. I am sure some people get reported just because they piss off the bank teller.

Connie

 

[spintee]

In Canada, it is mandatory for Banks, Financial Institutions, Security Dealers etc. to report to the "Financial Transactions and Reports Analysis Centre of Canada" (FINTRAC) when you have bank transfers and or cash deposits of $10,000 or more or multiple deposits equaling $10,000 or more with in 24 hours.

It is part of the Proceeds of Crime (Money Laundering) and Terrorist Financing Act. It is to monitor for proceeds of crime, money laundering and terrorist financing. If it gets forwarded as suspicious deposit activity, you will be investigated.

I would rather the bank report say we had a deposit of $10,000 from a client than them send a report that says investigate this person, her name is Connie, she deposited $10,000 and we think she is a drug dealer or terrorist

They just need to hear a valid and plausible reason why you have so much money to deposit that isn't you regular paycheck: sale of house, life insurance payment, private sale of a vehicle, estate sale.

Small amounts the Bank shouldn't ask about, but ones they need to report, you need to answer. If you refuse to tell them and let them determine it is not suspicious for their report, you will wind up having to tell the Government Inspectors and Police later. I am sure some people get reported just because they piss off the bank teller.

Connie

Well one good thing is that they do that, over here they could not give two hoots, But still 10k is mini money compared to most transactions, I am sure there is tens of thousands of transactions daily within the same bank over 10k's

I will let you know when I win big or lottery to say if bank ask But I know what I would tell them, They can call who ever they want, Nothing to hide here and the best part we not get taxed on wins

 

[loren]

Instadebit

For me I just think that it is the 'cats meow'.

 

[bebo67]

Well one good thing is that they do that, over here they could not give two hoots, But still 10k is mini money compared to most transactions, I am sure there is tens of thousands of transactions daily within the same bank over 10k's

I will let you know when I win big or lottery to say if bank ask But I know what I would tell them, They can call who ever they want, Nothing to hide here and the best part we not get taxed on wins

I got the first cheque this morning. The bank asked where the cheque was from, I told her I won it. She asked if It was a Canadian Bank, I said yes. She said Congrats. That was it. No holds. I did tell her I would be back tomorrow with the other one. lol. Then I proceeded to ask about Casino's and at what amount starts getting flagged, and you were right, 10k, plus they look at how many times and what it is spent on. I cashed out Monday night , 45 dollars for Fedex, and got it today.Cashed out the bigger one yesterday, was processed this morning and I will have it tomorrow. Made just under 7k the last 2 days. Left 1k in, not bad eh? Now I dont feel like playing any more

 

[AintWon1967]

I got the first cheque this morning. The bank asked where the cheque was from, I told her I won it. She asked if It was a Canadian Bank, I said yes. She said Congrats. That was it. No holds. I did tell her I would be back tomorrow with the other one. lol. Then I proceeded to ask about Casino's and at what amount starts getting flagged, and you were right, 10k, plus they look at how many times and what it is spent on. I cashed out Monday night , 45 dollars for Fedex, and got it today.Cashed out the bigger one yesterday, was processed this morning and I will have it tomorrow. Made just under 7k the last 2 days. Left 1k in, not bad eh? Now I dont feel like playing any more

Congrats on your nice win!
We don't get taxed on gambling wins either, only on the interest it generates in your bank account.

Connie

 

[shaggy5500]

re

Wires over $5k are reported to the feds as far as i know - keep it under, you golden. As for Vegaspartnerlounge - been playing for 11 years and they always pay fast. You can take the check by courier option too but it is $45 however arrives usually in 2 days..

 

[me_and_ed]

Wires over $5k are reported to the feds as far as i know - keep it under, you golden. As for Vegaspartnerlounge - been playing for 11 years and they always pay fast. You can take the check by courier option too but it is $45 however arrives usually in 2 days..

10k, under that it is no more than a ten dollar dep to the banks, even after 10 k its a few questions and purely a log for CBSA ,as long if its not from some crazy ass country doing nefarious terrorist shit its fine.

 

[spintee]

10k, under that it is no more than a ten dollar dep to the banks, even after 10 k its a few questions and purely a log for CBSA ,as long if its not from some crazy ass country doing nefarious terrorist shit its fine.

Thats the trouble, Who knows were some of these casinos are located? I once received a cheque from Ginabingo, Real long time ago as they wanted all details and didnt know what to do so I opted for a cheque, a few weeks later out of the blue after forgetting all about it a funny arss looking cheque arrived, I lthought it was a joke when I seen it and so did the bank but nevertheless it cleared and the stamp on the envelope was from some far flown county I not heard of