Banks That Accept Online Gambling
With a few simple steps, you can use your personal RBC account for online gambling
What Canadian Banks Allow Online Gambling? Bank of Montreal (BMO online gambling). The Bank of Montreal gambling considers payment as a cash-like transaction. Bank of Nova Scotia (Scotiabank online gambling). Scotiabank online casino deposits are. The Banks of Canada. Bank of Nova Scotia (Scotiabank) Scotiabank will only process transactions to online gambling sites operated by a Crown Corporation such as EspaceJeux. Bank of Montreal (BMO) Canadian Imperial Bank of Commerce (CIBC) Royal Bank of Canada (RBC) Toronto-Dominion Bank (TD Bank).
The Royal Bank of Canada, or informally, RBC, is the second oldest of the Big Five banks, being formed (est 1864) some three decades after ScotiaBank (est 1932).
Scotiabank was the first to begin blocking gambling transactions to offshore accounts and each of the big banks has followed suit to some degree or another since then.
The current RBC online banking agreement states that they may, at their discretion “…prevent your Account from being used for certain types of transactions as determined by us, including transactions connected to internet/online gambling.“
They follow that statement with a note saying that “…lawfully established provincially run lottery corporation“ gambling websites are excluded from the disclosure.
Be that as it may, some players still have some luck depositing to offshore Canadian casinos online, but it is a hit or miss proposition most of the time. The best-case scenario is that a credit or debit card purchase is confirmed, but treated as a cash advance.
RBC Customers can still gamble online!
There is a host of methods other than bank-branded Visa and Mastercards or direct bank wire transfers – the two payment methods of which are most likely to be blocked.
We’ll explore all of the current Canadian online casino banking options here for our readers who are RBC customers.
RCB Visa and Mastercard
Rather than attempting to purchase offshore casino credits with your bank-issued Visa or Mastercard
it is almost always better to use a bank card to fund an alternative deposit method.
This is not the ultimate or ideal way to gamble offshore, but it does work.
We’ll go into details on the best methods for most players a little further in. These are Interac e-Transfer and other instant banking followed by electronic wallets like ecoPayz that are still available to Canadian gamblers online.
Deposit using another service funded by an RBC debit card or account
- Instant gift card
- Bitcoin
Interac Online is like a virtual debit card and operates differently from Interac e-Transfers. While some casinos still accept this Interac product, many customers are reporting declined transactions outside of provincial online casinos like PlayNow.
Neosurf and Inpay are popular casino banking methods that can be funded with a debit card from the Royal Bank of Canada.
With a myneosurf account, and at select casinos offering the Outpay service by Inpay, you will also be able to withdraw using them.
Paysafe cards can also be purchased with your bank debit card as can Vanilla pre-paid cards. These cards do not allow withdrawals back to the deposit method, so you will need another way to collect your winnings.
Some of the casinos listed here will also have an “instant gift card” option.
From the casino cashier, you will enter a secure portal where you can use your personal RBC debit or credit card to purchase a voucher. The voucher is then instantly converted into casino credits after you enter the unique code given to you by the gift card processor.
Bitcoin can currently still be purchased at exchanges like Coinbase using an RBC debit card (no credit card purchases are allowed).
If you have a PayPal account you can instantly cash out your winnings from Coinbase to your PayPal account.
Canadian e-Wallets for RBC Customers
While Skrill and Neteller no longer allow offshore casino transactions by Canadians, there is still another less well-known option.
Fund this electronic wallet with your RBC account:
ecoPayz – Using an ecoPayz electronic wallet is one of the best options for players who prefer to park their money in a virtual wallet. Deposits and withdrawals are nearly effortless. Just be sure to check for the ecoPayz logo in both the deposit and withdrawal sections of the cashier.
Instant Casino Banking with RBC
And the winner is…
This is the best method of casino banking for Canadians, especially customers at RBC. It is safe, convenient, and fast. Notifications and instructions are sent via SMS and email, and some casinos will only accept Interac e-Transfers from RBC.
If you have an RBC bank account, a mobile phone, and an email address, you are already set up to deposit and withdraw at most Canadian online casinos. One further step will make the withdrawal process effortless. Simply activate “Auto Deposit” on your bank’s Interac page so that no security questions and answers are needed for the casino to deposit funds directly into your RBC account.
For a step by step guide to depositing into an online casino using Interac e-Transfer and your Royal Bank of Canada account online, please see the article here.
Instadebit – This homegrown Canadian casino banking method also works for deposits and withdrawals. You can create an account “on the fly” from within the banking section of any casino that offers the method. Alternately, simply go to Instadebit.com and create a free account.
iDebit – This eWallet works a lot like Instadebit, except that it may not appear as a withdrawal option at some casinos. As with any deposit and withdrawal method, it is always wise to check the cashier section or have a quick chat with customer service to be sure you can fund your account and collect your winnings with the method.
Online Gambling with RBC Conclusion
While it may not be possible to do direct deposits and withdrawals at Canadian online casinos with your personal Royal Bank of Canada account, easy solutions are as simple as a single step away in some cases. Instant banking is currently the most efficient and most often successful method of staking your bankroll and retrieving your winnings. However, not all players have access or feel comfortable with the “system”.
For these people, we present several alternatives. No matter how you prefer to transfer your money, there is a solution for every RBC customer. If you want to play at the many overseas casinos for a better game selection, higher payout percentages, or any other reason, our helpful guides will have you up and running and playing your favorite slots, cards, or table games quickly, safely, and securely.
FAQ
You can do an e-Transfer to an online casino directly through the payment gateway on their website when you make a deposit. For a complete guide read our article here.
Transactions using e-Transfer can only be canceled if the recipient has not yet deposited the funds into their account. This can be done by using the guide on RBC’s official website here.
No. The success rate for depositing with RBC debit and credit cards is now extremely low. If you want to make a transaction to an online casino you will need to use an intermediary service like Interac, Instadebit, iDebit or an eWallet such as ecoPayz to store funds.
Learn what Canadian banks allow online gambling, and the available methods of deposit and withdrawal.
Which States Allow Online Gambling
Online gambling can be a sore subject in Canada. Players love it, and several provinces encourage their citizens to participate at their respective, self-regulated iGaming websites. At the same time, those governments disdain the the use of international online casinos. It’s not illegal, but it sure cuts into provincial cash flow.
Since internet gambling isn’t illegal, you might assume that all Canadian banks allow online gambling. However, that’s not the case. Most banks that are headquartered within the boundaries of the nation have no qualms with facilitating online gambling deposits. Those based below the 49th parallel, governed by our American neighbors to the south… not so much.
The problem stems from a US legislative document known as the Unlawful Internet Gambling Enforcement Act. Enacted in late 2006, the UIGEA made it illegal for US banks to knowingly facilitate monetary transfers for international (illegal) online gambling websites.
As a result, US-based credit card companies like Chase put a stop to it. Even if you live in Canada, you won’t be able to use a Chase-branded Visa card to deposit at an online casino. The transaction will be declined, leaving you searching for an alternative deposit method.
What Canadian Banks Allow Online Gambling?
To answer this question, we must first look at Canadian financial institutions with base operations located here in the True North. It’s okay if the card issuer has additional offices in the US, so long as the headquarters are on Canadian soil.
There are five major financial institutions that make the list. They are known as the ‘Big Five Banks of Canada‘, and include:
- Bank of Montreal (BMO)
- Bank of Nova Scotia (Scotiabank)
- Canadian Imperial Bank of Commerce (CIBC)
- Royal Bank of Canada (RBC)
- Toronto-Dominion Bank (TD)
However, only four of the Big Five Canadian Banks allow online gambling at international websites.
Scotiabank Says ‘No’ to Online Gambling Abroad
The Bank of Nova Scotia, aka Scotiabank, is perfectly happy to facilitate online gambling payments, so long as the deposit is going to one of Canada’s provincially regulated iGaming websites.
Therefore, players in British Columbia and Manitoba are limited to to PlayNow.com, citizens of Ontario to PlayOLG.com, and members of Quebec to EspaceJeux.com.
According to the terms laid out in the company’s ‘Day-to-Day Banking‘ guide:
“We reserve the right to prevent use of your account without notifying you in advance if we suspect illegal, unauthorized or fraudulent use of the account, including transactions relating to illegal internet gambling.”
Scotiabank gift cards won’t make the cut either. Under the Visa Gift Card Cardholder Agreement, the company states:
“Only online gambling transactions conducted at gaming sites owned and operated by Provincial/Territorial Governments/agencies can be authorized. All other online gambling transactions will be declined.”
Apparently Scotiabank considers internet gambling at offshore casino websites to be illegal—despite there being no laws on the books to back it up. Using a Scotiabank bank account, or Scotiabank-branded credit card or gift card, to facilitate payments to known international online casinos will be met with rejection.
4 Big Five Canadian Banks Allow Online Gambling
That leaves us with BMO, CIBC, RBC and TD Bank. It may seem like a small number of Canadian banks allow online gambling, but in the greater scheme of things, these banks serve the vast majority of Canadian residents.
The Royal Bank of Canada (RBC) is the largest banking institution in the nation, with branches in 50 countries. It has more than 16 million customers, and is perfectly happy to facilitate online gambling transactions to both homegrown and offshore gambling websites.
The Canadian Imperial Bank of Commerce (CIBC) ranks second largest. With operations in Canada, Asia, Europe and the Caribbean, this bank provides services to around 11 million customers, and values those who enjoy wagering with offshore operators.
Next up is TD Bank, a national commercial bank serving personal and small business accounts from 1,100 offices across Canada. TD welcomes over 10 million customers, and doesn’t care whether they deposit at international online gambling websites.
Bank of Montreal (BMO) rounds out the list. It is the oldest financial institution in the country, dating back to its meager beginnings in 1817. BMO has 900+ branches across Canada, and more than 7 million customers in its ledger.
Accepted Canadian Bank Payment Methods
If you hold an account with any of the above listed Canadian banks that allow online gambling transactions, you have a few options for making payments.
Each of these banks can issue Visa credit cards to their account holders. These Visa cards are accepted forms of payment at just about every online casino in existence. Feel free to use them for deposits. Likewise, Visa debit cards are available to all account holders. They can also be used at most online gambling sites.
eCheck / ACH deposits are the equivalent of writing a paper cheque, but without the paper and pen. They work by entering the bank’s name, transit number and institution number, along with your bank account number (all found on your paper cheques). Again, the payments are instant, but can’t be used for withdrawals.
Direct bank transfers are another popular form of deposit, and can also be used to facilitate withdrawals. A bank transfer deposit can be completed in just a few seconds. However, bank wire withdrawals can take anywhere from 4 to 14 business days to complete.
#1 Canadian-Friendly Casino for 2021
Royal Vegas is our editorial pick for safe Canadian gaming. Currently offering a good range of Canadian deposit options, everything from prepaid gift cards, to eCheck, instadebit and visa/mastercard. That, and a world-class gaming experience, with countless table games, strong variety, and even live dealers. The brand has been in the business for a decade long.