What Canadian Banks Allow Online Gambling ?
Learn which Canadian banks allow online gambling and the deposit / withdrawal methods they accept.
Update June 29th, 2023: Canadian banks are becoming more and more strict with online gambling transactions – especially within Ontario, despite it being a regulated space – but there are some exceptions (see our list below of specific banks to avoid). To deposit easily and safely in Canada, www.JackpotCity.com is a licensed iGaming casino that is compatible with deposits from BMO and CIBC, and all of their provincial branches. |
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What Canadian Banks Allow Online Gaming ? (Updated June 29th, 2023)
- ✅ Bank of Montreal (BMO)
- ❌ Bank of Nova Scotia (Scotiabank)
- ✅ Canadian Imperial Bank of Commerce (CIBC)
- ❌ Royal Bank of Canada (RBC)
- ❌ Toronto-Dominion Bank (TD)
(✅= payments allowed to local & international sites)
(❌ = payments restricted – some local payments allowed; no international websites)
[Are You In Ontario? Jump Ahead to our Ontario-Specific Section]
To answer this question fully, 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 main office is headquartered on Canadian soil. Five major financial institutions comprise this list. Known as the ‘Big Five Banks of Canada’, they encompass the five institutions featured in our list above.
JackpotCity.com: CA Deposits Accepted
This may not seem like a lot of banking options, but I assure you, it is. They comprise thousands upon thousands of branches all across the country. Even BMO – the smallest among them – has over 900 branches across Canada, with more than 7 million customers in its ledger.
Of these Big Five, however, only two Canadian Banks allow online gambling payments to/from both local and international casino websites. Those progressive institutions are the Bank of Montreal (BMO) and the Canadian Imperial Bank of Commerce (CIBC).
RBC, Scotiabank, and TD Bank, on the other hand, expressly state in their terms that international internet gambling transactions ‘will be’, or at least ‘may be’, declined. They will transact deposits to provincially regulated online gambling operations, but not the overseas variety.
This table defines the short of it, noting which of the Big Five Banks of Canada support payments to local (provincially regulated) online casinos, and international online casinos.
Big Five Banks of CA | Local Online Casinos | Int’l Online Casinos |
✓ | ✓ | |
✓ | ✓ | |
✓ | ✘ | |
✓ | ✘ | |
✓ | ✘ |
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Next up, we’ll take a quick look at the current, textual and contractual evidence provided by each of these banks, as provided in the cardholder and/or account holder terms and conditions. We’ll start with…
Canadian Banks That Allow Online Casino Deposits w/ Offshore Operators
As previously determined, only two of Canada’s Big Five Banks – BMO and CIBC – are perfectly willing to process online casino payments for their members, even at internationally regulated gambling websites. They believe that what you do with your money is, in effect, your own business.
Here’s what they have to say about the matter.
BMO Relates Gaming with Cash-Like Transactions
BMO associates online gambling payments, locally or internationally, with “cash-like transactions”. Here’s what a multitude of their account / cardholder agreement documents state:
“cash-like transactions mean transactions involving the purchase of items that are similar to and/or can be converted into cash. Cash-like transactions include but are not limited to: wire transfers, money orders, travellers cheques, casino gaming chips and gaming transactions (including betting, off-track betting and race track wagers), securities, government owned lottery tickets, court costs (including alimony, child support), fines, bail, bond payments and tax payments”.
Beyond this definition, BMO does not make any mention of it. There are no restrictions on cash-like transactions or gambling, online or otherwise.
- Learn More: Gambling Online with a BMO Account in Canada
CIBC Updates Agreement – iGaming Transactions Continue
A few year back, CIBC chose to eliminate the mention of online/internet gambling in its user agreements, which left the doors wide open to local and international payments. That changed in June of 2022 when new language was added. CIBC altered the verbiage surrounding iGaming transactions by redefining “Cash-like Transactions“.
The current definition of reads:
Cash-Like Transaction means using your Account for a Transaction that is similar to cash or to acquire an item that is convertible into cash, including
Transactions related to:
• gaming, gambling and lotteries (examples: casino chips, online gaming, casino transactions, betting, wagers, lottery tickets, etc.)
• money transfer services (examples: online money transfers, wire transfers, etc.)
• negotiable instruments (examples: traveler’s cheques, money orders, etc.)
Why It Matters…
That definition alters the meaning of CIBC’s account/cardholder agreements, but only where they relate to “Debit Card” purchases. CIBC explicitly restricts the use of its debit card for gambling, online or otherwise, in its CIBC Personal Deposit Account Agreement, with this clause under Eligible Visa Debit Purchases:
“…Point of sale purchases made in Canada and “Cash-Like Transactions” are not considered to be an Eligible Visa Debit purchase… For more information, consult with a CIBC banking representative to determine whether any given Visa Debit transaction is eligible for the Offer…”
Furthermore, Section 7 of the Agreement states:
7. Provisions for CIBC Advantage Debit Card Only
…
g) Restricted Transactions: Your CIBC Advantage Debit Card cannot be used to receive credits for online gambling transactions, wire transfers, money transfers or gains/dividends from investment instruments.
But CIBC Gambling Deposits Still Work (Usually)
Yes, CIBC is still on our list of eligible banks for online gambling in Canada. Their definitions and disclosures give CIBC the right to decline any debit card payment related to online gambling. It doesn’t mean that all payments will be declined. The success rate of CIBC deposits is actually quite high; if not by debit card, then by other means, such as online banking (Interac, iDebit, InstaDebit, etc.)
- Learn More: Using a CIBC Bank Account for Online Gambling
Big Five Banks that Don’t Allow Online Gambling Outside Canada
RBC, Scotiabank, and TD all state that gaming purchases may be declined. We’ve taken a microscope to each of their T&Cs to show what they will and won’t (or might not) allow. This information is current as of May 2023.
THE CONDENSED VERSIONWhat the below context boils down to is this. Members of RBC, Bank of Nova Scotia, and TD who reside in a province where iGaming is locally regulated can use their bank accounts to fund gaming at those locally legal and regulated websites. BC and Manitoba residents can make payments to Playnow.com. Those in Quebec can transfer funds to/from Espacejeux.com. Ontarians can fund any iGO-licensed gaming account, etc., etc… But if any RBC/Scotiabank/TD account holder, anywhere in Canada, attempts to use their account to fund an international online casino, the payment will (most likely) be declined. You will find an extended Canadian banking list here, to see if your credit and debit cards are supported. |
RBC Online Gambling Deposits Restricted to Local Only
The Royal Bank of Canada will happily process your online gambling deposits, but only if they’re going to provincially authorized and regulated online casinos.
The RBC Personal Account User Agreement (updated August 2022) states:
“…we reserve the right to prevent your Account from being used for certain types of transactions as determined by us, including transactions connected to internet/online gambling, except for internet/online gambling related transactions which are offered through a lawfully established provincially run lottery corporation in Canada;”
- Learn More: How to Pay for Online Gambling with RBC Bank
Scotiabank Says ‘No’ to Online Gambling Abroad
The Bank of Nova Scotia, aka Scotiabank, will only facilitate online gambling payments in which the deposit is going to one of Canada’s provincially regulated iGaming websites. Payments to/from an international online casino are not supported.
Scotiabank outlines its stance in a variety of ways, including this statement, which is found in the very first paragraph of its membership notice, entitled General Information about Personal Accounts:
“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.”
For clarification, online gambling is not “illegal” in Canada. However, this clause applies because when the activity occurs with an operator located outside of Canada, it is considered “unauthorized”.
Scotiabank Gift Cards and Prepaid Cards are also prohibited from use for online casino deposits. The Scotiabank Visa Prepaid Card Holder Agreement clearly 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.”
Like RBC, payments to locally regulated gambling sites are accepted, but offshore online casino payments are off limits.
TD Bank Internet Casino Deposits
TD Canada Trust – the personal banking division of TD Bank that remains headquartered in Canada – has multiple user and cardholder agreement documents that state internet gambling transactions may get declined. Its rules state:
“We may block use of the Card or the Account without telling you in advance if we suspect illegal, unauthorized or fraudulent use of the Account. This includes transactions relating to Internet gambling or where we have any other reasonable grounds to do so.”
While some payments do make it through, don’t be surprised if your online casino deposits are rejected by TD Bank, even if you’ve had success depositing in the past.
Learn More: Functional Methods to Pay for iGaming with TD Bank
Banks Make Exceptions for Ontario iGaming MarketThings are a little different in Ontario, these days. Provincial leaders took steps to expand into a competitive market with strict regulation and licensing. That market went live in April 2022, and is a primary force behind Canadian banks amending their agreements in relation to gambling transactions. BMO and CIBC already permit iGaming payments. Each of the remaining Big Five have language in their terms permitting transactions to local and iGaming.
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Accepted Canadian Bank Payment Methods
If you hold an account with any of the above-listed Canadian banks that allow online gambling transactions – BMO or CIBC – you have several handy options for making payments. These include credit/debit cards, eChecks, and/or other EFT-style payment options, such as bank transfers, the e-Transfer service named Interac, Trustly, and online banking in general.
Each of these banks can issue Visa credit cards to their account holders. Visa cards are acceptable forms of payment at most online casinos, so feel free to use them for deposits. Likewise, Visa debit cards are available to all account holders, and are also eligible for use at most online gambling sites.
CA Deposits Accepted at Jackpot City
eCheck / EFT 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 things found on your paper cheques. Again, the payments are instant, but you cannot use them for withdrawals.
Bank transfers are another popular form of deposit. Plus, you can often use them to facilitate withdrawals. The biggest problem with a bank transfer is that it may come with a sizable fee. You’ll need to ask your bank about that. And when it comes to withdrawals, there may be rather high ‘minimum cashout’ requirements, sometimes running as high as $500+. Be sure to check the online casino’s cashier policies to confirm that information.
Alternative Payments for Non-iGaming Banks
If you’re a member of RBC, Scotiabank, TD Bank, or any other North American financial institution that doesn’t take kindly to online gambling-related fund transfers, you still have a few options. Of course, you could open an account with another bank that allows iGaming payments, but that’s really not necessary. Here’s a list of alternative payment methods you can use, even if your bank doesn’t allow online casino deposits.
InstaDebit / iDebit
InstaDebit and iDebit payments are a great way to fund your online casino account through just about any Canadian bank, without having to worry about declination. These are trusted third-party processing entities that ensure the money gets where it needs to go – without telling your bank where it’s going to, or coming from.
Web Wallets / eWallets
Web Wallets like MuchBetter and Apple Pay are another good alternative to direct banking. With a web wallet, you can upload funds from your bank, then transfer those funds to the online casino. When you request a withdrawal, you’ll send the money right back into the eWallet. From there, you can transfer it back into your bank. It will take a few extra days to move all that money around, and yes, there are fees for using some of their services, but you can’t beat eWallets for reliability.
Cryptocurrency
Cryptocurrency is another option that’s becoming more and more popular in the global internet gambling community. With the introduction of crypto wallets (hardware and software) and the stability that comes with virtual currency, casinos such as these are able to appeal to a wider audience. Crypto includes a wide range of digital coins (Bitcoin, Bitcoin Cash, Dogecoin, Ethereum, Litecoin, Ripple, Tether, etc.) Dealing in crypto is different than traditional forms of money.
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We suggest the following guide for more information:
Domestic vs. International Websites – What’s the Big Deal?
Online gambling can be a sore subject in Canada. Players love it, and many provinces encourage their citizens to participate at their respective, self-regulated iGaming websites. At the same time, those governments disdain the use of international online casinos. It’s not illegal, mind you, but it sure cuts into their provincial cash flow.
Since internet gambling isn’t illegal, you might assume that all Canadian banks support online gambling payments. That is not the case. Most financial institutions headquartered here in Canada – emphasis on most – have no problem facilitating online gambling deposits and withdrawals. They may, however, disprove of doing so with offshore operators. Then there are banks with headquarters to the south, operating under the regulation of our American neighbors. They’re the ones that have been throwing the biggest wrench into it for years.
Why Are Canadian Banks Wary of iGaming Transfers?
The problem started with a now-antiquated piece of US legislation known as the Unlawful Internet Gambling Enforcement Act, or UIGEA. Enacted in late 2006, the UIGEA made it illegal for US banks to knowingly facilitate monetary transfers for international (i.e. illegal) online gambling websites. Simply put, the US government failed to enforce illegal online gambling, so it laid the blame, and threat of penalty, on its own banks.
As a result, many US-based credit card companies put a quick stop to it. They refused to process any payment in connection with online gambling, for fear of getting in trouble with the federal government. Unfortunately, even if you live in Canada, you won’t be able to use certain credit cards, such as a Chase-branded Visa, to deposit at an online casino. The transaction will be declined, leaving you searching for an alternative deposit method.
As you may know, American laws have changed in the last 15+ years. Several US states now offer legal, regulated online casino gambling, just like most provinces of Canada. You would expect this to alleviate the problem, but it hasn’t. With internet gambling still illegal in many US states, most financial companies would prefer to keep their blanket ban on iGaming payments, than risk facilitating an illegal transfer.
| In Short: | Yes, you can use a debit card at online casinos so long as your bank does not decline gambling transactions. |
| In Detail: | Debit cards are the most common payment method at online casinos, poker rooms, and sportsbooks, supported by 99.9% of the world’s iGaming market. Whether you can use a debit card, depends largely on your issuing bank, and the geolocation of the online casinos. Some Canadian banks do not allow gambling transactions with international operators. See Canadian Banks that Allow Online Gambling for more information. |
| In Short: | Log in to the casino, go to the cashier/banking section, choose to withdraw, select debit card, enter the amount, and submit the payment. |
| In Detail: | The short answer makes it sound very simple, and it is, assuming you’re eligible to use this method. The only requirement is that you’ve previously made at least one successful deposit with the same debit card. If so, there’s no need to enter card details, because the casino already has the info on file. If anything, you may need to enter the 3-digit CVC/CVV number from the back, just for verification. To request a cashout to your debit card, log into the online casino and navigate to the cashier/banking section. Choose to make a withdrawal, then select debit card from the menu of payment options. You’ll need to select the card on file, then enter the amount you wish to withdraw. Submit the payment, and your money should arrive in your bank in a few days. |
| In Short: | A debit card has more advantages than a credit card. |
| In Detail: | Debit cards are far better for online gambling than credit cards. It has nothing to do with ease of use or security. The biggest advantage to debit cards is accountability. One who uses a debit card for casino deposits can only transfer money they already have. A credit card, on the other hand, allows you to gamble before paying for it. Gambling on credit is never a good idea. In fact, some of the strictest iGaming regulators won’t allow their licensed casinos to accept credit card deposits for that very reason. So, whether your online casino accepts credit cards or not, I implore you to do the responsible thing. Use a debit card, or any other prepaid method, instead. |
| In Short: | The only disadvantages of debit card casino deposits are high rejection rank and limited availability of withdraws. |
| In Detail: | Debit cards are the most popular method for depositing at online casinos for good reason. However, there are two disadvantages you may come across. Most notably, they come with a high rejection rate from Canadian banks that don’t allow gambling transactions with international operators. The only other problem you may find is that debit cards aren’t always available for withdrawals. A lot of casinos support debit card deposits, but not cashouts. If that’s the case, and you want a single payment method for both deposits and withdrawals – or if your bank doesn’t permit debit card payments for gambling transactions – there are a variety of alternative payment methods you can use instead. |
| In Short: | Visa and Mastercard are the most common, and in rare instances, Amex. |
| In Detail: | Today’s online casinos support most major debit card brands. Just like in the physical realm of retail, Visa is the most accepted debit card for iGaming in Canada. Mastercard comes in a very close second. American Express used to be prevalent, but today, only about 1% of the world’s iGaming market supports AmEx deposits. |
| In Short: | The CVC/CVV number is the 3-digit security code found on the back of the card. |
| In Detail: | Debit cards have a security code on the back known as the Card Verification Code (CVC) or Card Verification Value (CVV). you will be asked to provide this number any time you make a purchase that doesn’t require the card to be scanned (or tapped) in person. You will find this number printed on the back of the card, near its center. |
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Using a Scotiabank Account for Internet Gambling in 2023About the Author
Adalene Lucas: is our jack of all trades here at DBC. She is a skilled coder, gambler, writer and webmaster. She lives in Manitoba where she enjoys the lush landscapes and camping near Tulabi Falls. Nature gives her inspiration to write. When she's not immersed in nature, her favorite words are "game theory". She lives with her husband and their two Labradors, Kophy and Whisper.
