I just got this letter from RBC which is kinda unsettling.

We are writing this letter to set out certain operational restrictions with respect to your accounts at RBC Royal Bank. As a federally-regulated financial institution, RBC is required by law to operate within defined regulatory parameters, and has accordingly created and implemented certain policies and procedures to ensure that these restrictions and regulatory expectations are observed. One of these policy requirements restricts the use of RBC accounts to facilitate online or Internet gambling. In light of these requirements, please do not use RBC accounts in connection with online gambling activities.

Please understand that our concerns with repect to the use of your RBC accounts are serious. If you continue to use your RBC accounts in connection with online gambling activities, we may have to exit our banking relationship with you.

...

First, this is kinda messed up cause my only transactions "in relation with online gambling activities" are sporadic moneybookers transfers (they have sometimes been over 5 figs tho). How can they even claim it is related to online gambling since it could very well be coming from e-commerce, relatives/friends sending me money, getting paid for something etc. I know mb have a reputation that closely links them to gambling but still. I make paypal payments and withdrawals all the time too, and sell stuff on amazon as well (albeit smaller transactions).

Second, since when do Canadian banks have regulations against internets gambling, and why do they even care since there are barely any restrictions for Canadians apart from the boss network afaik.

This is starting to sound like BoA and similar banks sending out warnings prior to bf... Anyone else receive something like this in Canada? Also what's my play, ignore it and keep making mb transfers, talk to them, or change banks (or add an additional account somewhere else)?

saw this post earlier today too

http://forumserver.twoplustwo.com/sh...&postcount=194

Why not go talk to a branch manager about it, and find out what aspect of your activity is of concern to them? Your questions are reasonable...

Bitcoins... the answer is... Bitcoins.

Due to knowing someone who is a client and whom also has a son who works in the investment part of RBC I am aware that:

All of the new client account statements for different trusts that were opening accounts at RBC that I was involved with and that I've actually seen, have a section devoted to saying that none of the funds are being used or will be used for internet gambling.

Just saying ... the standard forms I've seen for RBC brokerage accounts are not very long and aren't that complex, but they do contain one short section that is completely about not using the funds for internet gambling.

I don't know anything about RBC banking accounts.


I also think that the advice given above regarding talking to a supervisor or manager at the bank to figure out what the problem is may be worthwhile. If a solution can't be reached, then get a different bank. Or get several different banks. Or just get different bank(s) without talking to anyone. There are a lot of banks.






DISCLAIMER: NONE OF THE ABOVE IS LEGAL OR ACCOUNTING ADVICE AND SHOULD NOT BE CONSTRUED AS SUCH.

Really? I had no idea all the major poker sites were dealing with Bitcoins now.

I am with CIBC and have been all my life and have never had an issue with any transactions coming from moneybookers or wire transfers from other sites. I think u can still even use CIBC credit cards to deposit to online gaming sites as well.

Fwiw I opened my RBC account close to 6 years ago now and got shut down 5 months ago. I'd be surprised if they had an anti online gambling section in the papers they made me sign as it was in 2007 or so.

They kicked me out and the only reason they gave me was "because we can". I escalated the issue as much as I could and they wouldnt give me an answer beside that one. Fwiw I only wired and such about 4-5 times a year and I had a decent balance there most of the time.

Seems a bunch of people are getting shut down now

I've been using RBC for nearly 8 years online gambling, keep in mind 99% of these transactions are under 1k.

I have never gotten any warning.

Was this message an email or letter?

US friends were told the same thing in 2011. RBC is the nut low for poker players

In case you need a new bank.. I use BMO and aside from an initial phone call about a deposit (they just asked me the reason) they have never said a peep.

That is correct. I remember when I bonus hunted and brought in 15 checks a week to deposit before I found Paypal and Moneybookers. MY account rep pulled me aside and asked were all these checks came from. I told him internet gambling. They never asked again. Though no longer playing and climates change.

Though I did deposit with my CIBC Mastercard 3 months ago no issues

RBC was bought by PNC (US bank) within the last year and a half or so. Might be why they are different than other Canadian banks.

I've had to transfer a buddy money on stars for over 2 years now because RBC declined his credit card transactions when trying to put a $200 deposit on. I told him to change banks.

RBC only sold their U.S. retail bank operations and U.S. credit card business to PNC.

Also was shut down by RBC without reason. They also shut down my girlfriends account because it was a joint account. Customer service was absolutely horrible and rude. I had been a customer for ~15 years including doing a TON in exchange fees over that time and they never gave me a reason as to why my account was closed. Just terrible costumer relations and business sense in general.

They are on an account closing spree.
http://business.financialpost.com/20...lly-financial/

I got the same letter from them yesterday.

RBC called me two weeks ago to ask what the source of the funds were, and I told them it was online gambling.

My wife and I have multiple accounts with RBC, including a mortgage. I guess we will be taking our business elsewhere.

Moneybookers is a criminal conspiracy. I got perma banned from RBC a couple years back for "money laundering". They didn't give me so much as a hint of a warning either, just BAM accounts all froze, can't log in, nothin, Shark Casino style. They made me come all the way to the opening branch which was a 3 hour drive one way to pick up the check, then I had to deal with the megapigs on the ambassador bridge, didn't declare it but that time by pure luck alone they didn't strip search me and dismantle the whole car piece by piece over 5 hours like they usually do otherwise I would probably still be in federal prison for some kind of terrorism/drug kingpin/communist crime.

Seriously, just open an account with TD. Problem solved. And ffs DONT DO BUSINESS WITH MONEYBOOKERS. You know why I think RBC zapped my account like a boson into the ether after I did hundreds of thousands in transactions for years and years, using my RBC checking account as my main personal and business banking center? You know why they did that and wrote me a letter basically accusing me of being some kind of Latin American cocaine viceroy? Let's just say I'm pretty damn sure it had something to do with Moneybookers and their "security" department.

I think if anyone here knew 10% of how shady those ex-soviet crooks really are they would take their money and run like it was 1929. Remember Moneybookers was founded uncontroversially as a criminal conspiracy to violate US gaming laws. There is really no argument against that. Sports betting was 100% expressly illegal in 2002/03 and one of their biggest clients, the man of infamous naming Analrag Dick****, accepted a plea deal, admitted to violating a panoply of federal laws and paid a fine that would make Michael Milken cringe. Is that the kind of company you want to trust with serious money? These people are complete unrefined scum. As they say in Bulgaria, "it's problem".

LOL.

So this is just people who had ally accounts? That's what I am getting from the link above.

Then you'd be putting together two very separate and unrelated events AFAIK.

Exactly, and causing panic with regular customers that don't need to be caused.

I also LOL at that article about where they will integrate the auto finance operations with their own, RBC don't do auto loans.

I take it you mean that for the U.S., why should it affect Canada?

TD seems to be the best cited as the best option for an account, but how can anyone avoid doing business with moneybookers now that neteller is gone? I need to move money around 4 or so different poker sites, 10-15 sportsbooks and mb is the only option I can use that lets me do that without any hassle or transaction limits. If I go and open a TD account should I just go and tell them my situation, that I need the account for incoming mb wires, or wires from poker sites, or should I just not say anything as to not risk arousing any suspicion.

Also I could just use a site like 888 to make wires directly to my bank account, and just use mb to move money around, would that be a better option than receiving mb wires or checks though?

And how can mb be considered so shady nowadays if they are used as an option by ebay in europe and for facebook as well?

Has anyone who has deposited checks from Pstars or tilt had any problems?