Steps required to open bank and poker accounts in Canada - Page 7 - High Stakes Poker Pot Limit and No Limit

insidemanpoker · 04-21-2011, 11:58 PM

Quote:

Originally Posted by 4CardGrind

I've talked to lawyers on both sides of the border, work visa not happening is the consensus... student visa could work, but of course you need to stay enrolled then.... you can hire a lawyer to represent you on all the paperwork and draw up a plan, but go into it pessimistic because most players will not fit any of the visas

I mean once you've established the residence with the site, you don't need to live there forever or anything. As long as you have facilitated a bank account/processor abroad and are still abroad when trying to play you will be fine. It's not like the sites are going to check to see if you aren't going to school any more.

LT22 · 04-22-2011, 12:39 AM

Quote:

Originally Posted by mixiesFTW

so if im currently living in australia, and im logging in from an australian ip, im able to play on my ftp account when home details say im from united states resident? interesting.

what the hell are you talking about

AJackson · 04-22-2011, 04:02 AM

I stayed in Toronto last year for 6 months. Tried to open a Canadian back account at two places, but was told I needed a residency permit to do that.

insidemanpoker · 04-22-2011, 11:00 AM

I do get the sense Canada is not one of the more friendly places, even compared to some EU countries, for opening a bank account.

Shaqalicious · 04-22-2011, 01:32 PM

Is anyone going the UPS-mailbox route as far as getting a Canadian address for 'residence'? I'm gonna drive to Windsor next week to see what I can get started. Not like I have anything better to do, anyway.

shipitkthx · 04-22-2011, 05:40 PM

The amount of info you people will post in public forums without a second thought amazes me.

donkey_king · 04-22-2011, 09:23 PM

Lol see if a mod will delete that stuff maybe? Not so smart to post details guys.

insidemanpoker · 04-23-2011, 01:40 AM

Quote:

Originally Posted by ThePreacherJesse

enjoy the snow!

warning though, from what ive heard from star reps, they have all kinds of fun stuff planned to "verify your location". one of the things i heard is going to be pretty funny, its like something out of a game show.

Quote:

Originally Posted by darkconcept

A lot of people are wrong about what it takes in the thread. If you need real adfvice, and ways you don't have to move speak pm me. Serious people only!

What is with people like this. Do you guys just like to post in threads and act knowledgeable to feel better about yourselves but then not reveal your supposed inside info?

It's like a pathetic 5 year old bragging "i know the secret and i'm not tellin".

Edit: Two people I know PM'd these guys and were ignored.

powder_8s · 04-23-2011, 03:05 AM

Canadian banks are some of the most regulated in the world. That is how Canadian banks avoided the mortgage meltdown (conservatives hate this "socialization", and want it changed to a more "democratic" system of corporate deregulation). Most large Canadian banks do a lot of business in the US and have branches and offices there. Because of this, they pay close attention to american banking regulations. I have had problems with the Royal Bank accepting poker winnings from Stars and UB. My RBC Visa will not work on poker sites. I use my local Credit Union for any dealings with poker sites. There have been no problems there.

Bigfoot · 04-23-2011, 03:33 AM

Quote:

Originally Posted by powder_8s

Canadian banks are some of the most regulated in the world. That is how Canadian banks avoided the mortgage meltdown (conservatives hate this "socialization", and want it changed to a more "democratic" system of corporate deregulation). Most large Canadian banks do a lot of business in the US and have branches and offices there. Because of this, they pay close attention to american banking regulations. I have had problems with the Royal Bank accepting poker winnings from Stars and UB. My RBC Visa will not work on poker sites. I use my local Credit Union for any dealings with poker sites. There have been no problems there.

The first half of your post has nothing to do with the second part of it. The RBC you bank at not accepting your poker winnings is based on that individual bank. Any bank in Canada can legally accept online gambling winnings. It's up to them to determine if they choose to do so however.

Also, your RBC Visa not working on sites has to do with Visa's policies and not necessarily RBC itself. AFAIK both Visa and MC changed their policies a few years back specifically to restrict online gambling transactions. Not because of legality, but because of liability. I believe it had to do with them being deemed high risk transactions that had a large number of charge backs and claims associated with them.

DonKeebles · 04-23-2011, 09:37 AM

Quote:

Originally Posted by AJackson

I stayed in Toronto last year for 6 months. Tried to open a Canadian back account at two places, but was told I needed a residency permit to do that.

Not true. Here's what I posted on the other forum.

Quote:

As a bank manager for one of the big 5 banks in Canada, I'll set the record straight for opening accounts. There are specific government regulations for what ID is acceptable; however, it comes down to essentially requiring one piece of government issued ID (does not need to be Canadian) for example, passport, driver's license, birth certificate, and a second piece of ID that does not necessarily need to be government issued -- a Visa or Mastercard with your name on it would work.

US citizens can open a bank account, but will be classified as non-residents and subject to withholding taxes for interest earned -- so open a non-interest bearing chequing account. For a number of the banks that own US subsidiaries (TD, RBC and BMO/Harris) you can even start the process down in the states.

Also, a bank has to provide a legitimate reason -- that is required to be formally documented -- for not opening an account so it's rare that with acceptable ID we won't open an account.

In regards to receiving/sending wires, ewallets, it comes down to two key things. Make sure your e-wallets, wires are not set for USD denomination. Technically, any electronic funds have to go through the US if they are sent in USD and that's where you could get into trouble. Also, keep the amount below 8k -- 10k is the reporting threshold for FINTRAC (our financial detection agency up here) but banks are obligated to report transactions without reasonable explanation within a couple thousand of the limit.

Doubt I can send PMs as I lurk and don't post, but I'll answer any questions I receive. For the record, the bank I work for will continue to accept and process online gaming transactions, except through credit card as they will follow Mastercard and Visas directions on that.

ThePreacherJesse · 04-23-2011, 01:15 PM

Quote:

Make sure your e-wallets, wires are not set for USD denomination. Technically, any electronic funds have to go through the US if they are sent in USD and that's where you could get into trouble.

??? Is this true?

DonKeebles · 04-23-2011, 01:41 PM

Quote:

Originally Posted by ThePreacherJesse

??? Is this true?

Yes. Although in practice Canadian banks may not advise you of it ahead of time; however, they all use a correspondent bank (for example Royal Bank uses JP Morgan, BMO uses Wachovia) when a wire is denominated in US currency even if it goes from one US bank to another. Not a Canadian requirement but a US one. If it is a non US currency it can go direct through the Swift network from either poker site or payment processor right to your Canadian bank account.

ThePreacherJesse · 04-23-2011, 01:48 PM

Interesting and surprising. Thanks.

sinner · 04-23-2011, 03:20 PM

If i moved to Vancouver tomorrow, how long before i could play on Stars, FTP, Party, iPoker?

I'm guessing i would have to actually wait for 1st utility bill to arrive to play on FTP/Stars, but as soon as i open a Canadian bank account, i could play on Euro sites. Is this correct?