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Letter from RBC (Canadian bank) re: online poker Letter from RBC (Canadian bank) re: online poker

06-02-2013 , 10:51 PM
Quote:
Originally Posted by Rob_10108
Thanks Johnny, keep us posted if it goes through.

I'm hesitant to withdrawal via eCheck at the moment, have a lot of credit/car loans tied in with RBC that I don't really want closed over depositing/withdrawing some funds from stars.
I'm assuming that if they're going to raise the issue, they'll just give me a stern lecture and let me pass on this one. RBC owns a good deal of our soul, so they're probably not going to close us out that easily.
Letter from RBC (Canadian bank) re: online poker Quote
06-03-2013 , 01:18 AM
Has anyone done poker transactions with either of the following?

1) PC Financial
2) ING Direct

Thank you very much.
Letter from RBC (Canadian bank) re: online poker Quote
06-03-2013 , 08:10 AM
I've been with BMO for 5 years now and never had a problem. They even let you have open a USD chequing account that you can connect to your MB. I then usually wait and exchange over $10k USD to get a better rate when moving it to my CAD chequing account.
Letter from RBC (Canadian bank) re: online poker Quote
06-03-2013 , 09:01 AM
Quote:
Originally Posted by JudgeHoldem1848
It's Skrill themselves. RBC rightly views them as shady. I would wager a large sum that RBC has been left holding a bag full of MB's sh*t more than once. I would also guess if you did a survey you would find the majority of the closed accounts were transacting with Skrill.

RBC don't wanna get Skrilled that's all.

And on a more helpful note I'll repeat the wisdom of many in this long thread including myself, open an account at TD, BMO, or CIBC.
My Skrill account was closed in October, my RBC account in April. Circumstances were different though I think, I made a large withdrawal to pay taxes.

Will definitely just be going to a credit union from now on.
Letter from RBC (Canadian bank) re: online poker Quote
06-03-2013 , 09:13 AM
For those recommending TD, have you seen this in the HSNL thread posted a few days ago:

Quote:
Originally Posted by TooCuriousso1
FYI guys TD is closing my account. The letter they sent didnt give many details but the branch manager I talked to about it thinks it's likely because of the large wires/amt coming in (from moneybookers). Fwiw I haven't done anything sketchy it's just been from MB to my TD USD account and then some goes into my TD CAD account (to spend/live in Canada) and the rest I ship back to my US bank.

zzz I guess I'm gonna go with CIBC now.
Letter from RBC (Canadian bank) re: online poker Quote
06-03-2013 , 01:50 PM
Quote:
Originally Posted by MattGoodBand
Has anyone done poker transactions with either of the following?

1) PC Financial
2) ING Direct

Thank you very much.
I have deposited paper cheque, from stars to my pc bank for the past 7 years without issue.
Letter from RBC (Canadian bank) re: online poker Quote
06-04-2013 , 09:34 AM
Quote:
Originally Posted by Rob_10108
Thanks Johnny, keep us posted if it goes through.

I'm hesitant to withdrawal via eCheck at the moment, have a lot of credit/car loans tied in with RBC that I don't really want closed over depositing/withdrawing some funds from stars.
Funds hit my account today. Will update if I get a snot-o-gram from RBC.
Letter from RBC (Canadian bank) re: online poker Quote
06-04-2013 , 12:00 PM
Quote:
Originally Posted by hockeyhero31
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.
I dunno brah. They haven't accepted my ScotiaVisa at Pokerstars for years now. Just after Party and before full tilt. Canadian banks have been covering their ass for a while now just in case, even though its not illegal (money laundering conerns I beleive).

Same with paper cheques for me.
Letter from RBC (Canadian bank) re: online poker Quote
06-04-2013 , 01:48 PM
95% of the time, these accounts are closed due to AML/KYC concerns... the risk for them isn't just to keep them open.. even if nothing is directly "shady".

Potential for massive fines/hassle/bad pr.
Letter from RBC (Canadian bank) re: online poker Quote
06-04-2013 , 02:04 PM
I work for a bank and I can say that most banks are under enormous pressure to screen their clients now. Regardless if they've proven you do online gambling, etc. if they find your transactions questionable (i.e. you cannot prove the funds are from a legitimate source), they will make a judgement call. In our bank it's called "Know Your Customer".

To one of the earlier posters, one thing that will definitely set off alarms are xfrs over 10k as those are automatically flagged for anti-money laundering reasons.
Letter from RBC (Canadian bank) re: online poker Quote
06-04-2013 , 10:26 PM
Thanks for the post. If transfers over 10k are unavoidable, do you have any advice on how to proceed so that the bank doesn't feel apprehensive about the transactions? I'm assuming US dollar, international wires heading to Canada are not processed by local bank branches so a meet and greet doesn't seem very effective.
Letter from RBC (Canadian bank) re: online poker Quote
06-04-2013 , 10:33 PM
Folks should spend some time and read this:

http://www.fintrac-canafe.gc.ca/intro-eng.asp

The specific transactions that we as poker players want to be able to do are pretty much exactly the types of transactions that the banks want to avoid.
Letter from RBC (Canadian bank) re: online poker Quote
06-05-2013 , 12:24 PM
Even if FINTRAC believes your transactions to be suspicious and investigates you, I would think it would end there once sufficient evidence can be shown the money is from online gambling. Online gambling is not illegal. Though an inconvenience, I don't see how it turns out to be a problem.
Letter from RBC (Canadian bank) re: online poker Quote
06-05-2013 , 06:12 PM
Has anyone been using INSTADEBIT ? They have an office on Adelaide street so I am assuming, being Canadian, they wouldn't be considered shady? I am reluctant to make a withdrawal now and worried because I deposited fairly recently on iPoker.
Letter from RBC (Canadian bank) re: online poker Quote
06-05-2013 , 06:21 PM
I use instadebit to RBC, and haven't had an issue at all. I am thinking, same as you, that the fact that they are canadian is beneficial.

Ive withdrawn funds through instadebit pretty much every other week for the last few months, no issues, it is in my account within 2 business days. Having said that, after having used them for years, I did notice on my statement, that the transactions simply have an ID# now, where before it would say MISC INSTADEBIT something or other. The name instadebit no longer appears on my statement. This started maybe 4 weeks ago for me.
Letter from RBC (Canadian bank) re: online poker Quote
06-05-2013 , 06:38 PM
Anyone know if echeck and insta debit is the same thing?
Letter from RBC (Canadian bank) re: online poker Quote
06-05-2013 , 07:02 PM
Quote:
Originally Posted by kfs
I use instadebit to RBC, and haven't had an issue at all. I am thinking, same as you, that the fact that they are canadian is beneficial.

Ive withdrawn funds through instadebit pretty much every other week for the last few months, no issues, it is in my account within 2 business days. Having said that, after having used them for years, I did notice on my statement, that the transactions simply have an ID# now, where before it would say MISC INSTADEBIT something or other. The name instadebit no longer appears on my statement. This started maybe 4 weeks ago for me.
Thanks for your response. I just started using instadebit like maybe 6 months ago and have had no issues but just wanted to make sure as I am an RBC customer.
Letter from RBC (Canadian bank) re: online poker Quote
06-05-2013 , 07:05 PM
Quote:
Originally Posted by banalanal
Even if FINTRAC believes your transactions to be suspicious and investigates you, I would think it would end there once sufficient evidence can be shown the money is from online gambling. Online gambling is not illegal. Though an inconvenience, I don't see how it turns out to be a problem.
From what I understand, Financial Institutions report transactions to Fintrac, and Fintrac then decides what to do with them. They don't go back to the F.I. and say "hey, all is good". The get piles and piles of reports from F.I.'s, and eventually, when they think they have a case, they pass it on the the RCMP or local police. This can take a LONG time. So, the local folks at the bank you are dealing with don't at any point know what Fintrac is doing with the documents that are continually shipped off to them. So, more than likely the F.I. will decide at some point that the transactions are not worth the effort of their staff, and close you down.
Letter from RBC (Canadian bank) re: online poker Quote
06-05-2013 , 11:17 PM
Quote:
Originally Posted by Rob_10108
Anyone know if echeck and insta debit is the same thing?
I believe Insta Debit would count as a middleman/payment processor. An echeck is just like a paper cheque, but there is no hard copy, just the transaction details sent.
Letter from RBC (Canadian bank) re: online poker Quote
09-08-2013 , 03:48 PM
What is the preferred bank acct to openness? Here in Montreal.


Bmo or td bank? I went to Bmo and told I would have apptment to speak to bank manager Thursday which is a bit long for me.


Are bank fees higher for td bank than Bmo? I check site and it seems td bank charges more for wires to us bank acct than Bmo? Bmo charges a small percent for each wire withdraw but td bank charges a higher flat rate?
Letter from RBC (Canadian bank) re: online poker Quote
09-08-2013 , 04:52 PM
National Bank here, imo you shouldnt be withdrawing from poker sites and depositing sums of over 9k-ish. I was told that all deposits over $9,999 are flagged and go under inspection. I always do a bit less and have never had problems.
Letter from RBC (Canadian bank) re: online poker Quote
09-08-2013 , 05:04 PM
Quote:
Originally Posted by Drewphish2
What is the preferred bank acct to openness? Here in Montreal.


Bmo or td bank? I went to Bmo and told I would have apptment to speak to bank manager Thursday which is a bit long for me.


Are bank fees higher for td bank than Bmo? I check site and it seems td bank charges more for wires to us bank acct than Bmo? Bmo charges a small percent for each wire withdraw but td bank charges a higher flat rate?
I think TD bank is an American bank so maybe they wouldn't be the best choice? We have a lot of TD banks up here in Northeastern US.
Letter from RBC (Canadian bank) re: online poker Quote
09-08-2013 , 05:08 PM
Just wanted to update a few things based on my experience.

- A ways back I mentioned I was moving some money on and off Stars via RBC. No problems or nasty letters.

- My wife and I are simplifying things and going down to a single account. We opened an account with BMO. I've since made deposits to Stars using BMO with no problems, and will likely be withdrawing shortly. I'll update with the results of my withdrawal if anything odd happens.
Letter from RBC (Canadian bank) re: online poker Quote
09-08-2013 , 06:02 PM
Quote:
Originally Posted by SuperSwag
I think TD bank is an American bank so maybe they wouldn't be the best choice? We have a lot of TD banks up here in Northeastern US.
TD= Toronto Dominion Bank. It's Canadian and is one of the largest in the country.
Letter from RBC (Canadian bank) re: online poker Quote
09-09-2013 , 03:12 AM
But it's in America, it must be American
Letter from RBC (Canadian bank) re: online poker Quote

      
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