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Nash200

Need help from Canada

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Hi Everyone,

 

I am new to this site and have a question but not sure I am posting in the correct category!

 

I recently had a huge win at a casino but after being deposited in my bank account in which I went in and withdrew my winnings my bank closed my account and informed me that in Canada gambling is illegal if winnings are from outside Canada regulated gambling casinos!!!

 

Any insight from Canada members would be much appreciated! Thanks in advance!

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Theaverageguy is a member on here from Canada, I'm sure he'll respond......

 

Should be noted that some banks here in the UK are embarking upon closing peoples accounts with a lot of gambling transactions - whether it's due to thinking they're laundering or financing terrorists, I don't know, but that's with it being legal.  ;)

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No, it was my personal bank (Scotiabank) that closed my account! After searching the web for answers I did find this link:
< snip >
So, I guess I am dealing with the wrong bank!
Thanks for your response! Appreciate it!

Edited by ValDes
External link removed! Please stick to the Forum Rules!

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To my knowledge there are no laws against online gambling in Canada, inside or outside the borders. 

 

Individual banks however will of course have their own internal policies based on their in house risk assessment and general stickuptheirassitude

 

You'll find the same with certain credit cards. Personally I use Ecopayz for my main gaming wallet, can fund it with vouchers bought at local stores or a  couple online sites, lots of online casinos payout fast to ewallets vs bank transfers, I find it better to do a single withdrawal from ecopayz when I want funds back in my hands then multiple casinos with their own procedures, timelines and hoops to jump through, while also creating a degree or three  of separation between your online ins and out and your day to day banking.

 

They tell me that Once Upon a Time bankers were so thankful that we trusted them to Hold and use our funds they rewarded us with a percentage of their profits for the privilege.. seems quite different from the banks I'm familiar with..

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Probably, as well, telling people something they already know but just be aware that gambling transactions aren't particularly well received by financial institutions on things like bank statements (which is ironic as well, investment banking never made a balls up with gambling a decade or so ago did they :p ) Will be fine for most personal loan applications/credit card applications but for mortgaging et al, keep an eye out.

 

Same for many credit cards - even if you pay on time and in full and use for casino's, you may find some don't increase limits/offer better rates based on the activity.

 

Minor derail  ;)

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On 3/9/2019 at 2:05 AM, Nathan Aston said:

If you can't withdraw your fund from your country bank? Then what another method applicable? I would like to know because i started playing.  Though I am from another country Bangladesh. 

How do you deposit into your account Nathan?

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