Functional Ways to Pay for iGaming with TD Bank Canada 2023

Table of Contents

• Brief History of TD Bank – Toronto-Dominion Bank was formed in 1955 by the merging of Bank of Toronto (1855 est.) and Dominion Bank (1869 est.)
• TD Branch Locations – With over 1,000 branches and 800 ABMs across Canada, our handy TD Branch Locator tool will help you find the nearest one to you.
• Financial Offerings – Learn about the full suite of chequing, savings, and card accounts TD Bank provides to meet the needs of its customers.
• Success of iGaming Payments – Find out how unaccommodating TD Bank is towards debited online gambling payments with international websites.
• Other Ways to Pay w/ CIBC – When your debit deposits aren’t working, discover other ways to pay for online gambling with a TD Bank account.
• The Bottom Line – A concise summary of Toronto-Dominion Bank online gambling opportunities and obstacles.

TD History – The Dominant Rise of a Global Leader

As a business, Toronto-Dominion Bank isn’t all that old, but the bedrock of its foundation is. TD was formed in 1955 by the merger of two mid-19th-century predecessors; Bank of Toronto (1855 est.) and The Dominion Bank (1869 est.). Both were formidable members of the financial community prior to the merger. It’s little surprise they’ve grown to the elite status of Canada’s largest bank in 2022, responsible for over $1.77 trillion in total assets.

Outside of Canada, TD Bank is already the 9th largest in the United States, 23rd largest in the world. Negotiations are currently underway between TD and First Horizon Corp. A successful takeover of the Tennessee-based financial group would increase TD’s market size by 1,159 branches, vaulting it to even greater status in North America and beyond.  

As for Canada, TD proudly boasts over “15 million active online and mobile customers” in 2022.

TD Bank Branch & ABM Locations in Canada

When it comes to branch networking, TD ranks second largest in Canada with 1,099 branches (at time of writing). They could bring that number to a nice, even 1,100 if they were to open a single branch in Nunavut. For now, however, that’s the only territory where TD isn’t operating. you won’t even find 1 of their 815+ ATM machines there.

• Alberta (138)
• British Columbia (164)
• Manitoba (28)
• New Brunswick (16)
• Newfoundland and Labrador (10)
• Northwest Territories (1)

• Nova Scotia (22)
• Ontario (561)
• Prince Edward Island (3)
• Quebec (129)
• Saskatchewan (26)
• Yukon (1)

Toronto-Dominion Bank Accounts and Card Services

TD didn’t become Canada’s largest bank by limiting its services. The financial institution has an impressive portfolio of services that span chequing, savings and business accounts, credit and debit cards, loans and mortgages, investment banking, insurance, and more.

Account Services

TD prides itself on diversity in the financial community. Competitive rates, promotions, and rewards are among the most enticing features.  

TD Bank Accounts

Virtually anyone can open a personal chequing or savings account with Toronto-Dominion. Special promotions, rates and fee waivers are available for certain customers, such as students, seniors, and new arrivals to the country.

Chequing Accounts

• TD All-Inclusive Banking Plan:
       “Premium Banking Benefits” ($29.95/mo; $0 w/$5k balance)
• TD Unlimited Chequing Account:
       “Unlimited Everyday Banking” ($16.95/mo; $0 w/$4k balance)
• TD Everyday Chequing Account:
       “A Budget-Friendly Account” ($10.95/mo; $0 w/$3k balance)
• TD Minimum Chequing Account:
       “For Those with Minimal Banking Needs” ($3.95/mo)
• TD Student Chequing Account:
       “Designed for Your Student Life” ($0.0/mo)
• U.S. Daily Interest Chequing Account:
       “Simplify Your U.S. Dollar Banking” ($0.0/mo)
• TD Borderless Plan:
       “For Frequent U.S. Travelers” (US$4.95/mo; $0 w/US$3k balance)

Savings Accounts

• TD Everyday Savings Account:
       “Ideal if Your Starting to Save” (IR 0.01%)
• TD High Interest Savings Account:
       “Reach Your Goals Faster” (IR 0.05% w/ $5k min balance)
• TD ePremium Savings Account:
       “Save More with a High Interest Rate” (IR 0.50% w/ $10k min balance)

Credit Cards

TD Bank offers a wide range of credit cards to suit every purchaser. Whether you’re a first-class traveler or a cash back collector, TD Visa cards come with everything from low annual fees to flexible rate plans. The following list details all credit cards currently available to members of TD Canada Trust. Due to the sheer volume of cards, I’ve chosen to categorize them by Personal and Business classes.

TD Bank Debit Cards

Members of TD Bank can shop online or in-store – anytime, anywhere – with TD’s Visa debit. Officially termed the ‘TD Access Card’, every member is eligible for this nifty little debit card. It comes equipped with the latest security and technology features, including Visa’s trademark Layers of Security; chip, PIN, Verified by Visa (VbV), Card Verification Value 2 (CVV2), and Address Verification Service (AVS). Plus, it’s got Interac Flash built right in, so you can tap your card for contactless payments wherever you see the Interac logo.

The TD Access Card lets users shop in person and online, both domestically and internationally. Link it up to your Apple Pay, Google Pay, or Samsung Pay account for convenient in-app purchasing. Set up auto-pay for recurring bills, and withdrawal cash at one of 2.2 million compatible ATMs around the globe. All this, without ever having to worry about unauthorized purchases, thanks to the Visa Zero Liability program.

Prepaid Cards

NONE

TD does not offer prepaid cards at this time. A statement on the TD website reads:

Success Rate of Gambling Online with TD Bank in 2023

TD Bank didn’t take too much notice of internet gaming until just a few years ago. In the latest version of its Visa Cardholder Agreement, (last updated November 2019), TD chose to explicitly restrict payments to/from “unauthorized” sources, including for “internet gambling” purposes.

Since then, the success rate of TD debit online gambling deposits has dropped to all but nothing. A few payments may squeak by, but don’t get your hopes up. Even if the last payment was successful, the next one may not be.

Success Rate: 5%

Don’t let the verbiage of the agreement fool you. Online gambling, even with overseas operators, is not illegal in Canada. It is, however, unauthorized. Only the gaming websites regulated by a provincial government are authorized to operate in Canada. So, the bottom line here is that TD Bank will reject any payment it flags for international gambling purposes.

The good news is that account holders have a number of ways to move money between offshore gambling sites and TD Bank account, without those payments ever being scrutinized, much less flagged. This brings us to…

Other Ways to Make Gambling Deposits with TD Bank 

Everything TD Bank lacks in the iGaming department is made up for right here. When debit card deposits and bank transfer withdrawals fail, these alternatives will not. You won’t need to open a bank account elsewhere, or set up a pricey web wallet, either. All of the methods we talk about in this section will let you deposit money directly from your TD Bank account, and withdraw cash winnings back to that account. The only difference is that TD won’t scrutinize, label, or reject these payments.

It’s all made possible by a handful of Canadian-exclusive, inter-networking finance solutions. The most famous is Interac, a network solution that helps facilitate more than 80% of the nation’s digital payments. Another is iDebit, which works pretty much the same way as Interac, but on a smaller scale. Both are mediator systems that create a link between your bank and merchant websites. Last is InstaDebit, similar to iDebit, except that usage isn’t automatic. You’ll need to register an account to use it. You can learn a bit more about each of these below, and click their links for more detailed information. 

Interac

Interac is Canada’s most utilized digital payment solution. The network was built by the Big Five Banks decades ago to facilitate quick, secure transfers between those banks. Today, it’s used to process more than 80% of Canada’s digital transactions; everything from debit card payments to direct deposits. It’s also accepted by a select handful of Canada’s most reputable offshore gambling sites. It’s found in two formats. One is Interac Online, which will redirect you to log into your TD online bank account while shielding the bank and merchant from each other’s details. the other is Interac eTransfer, which allows users to set up the transfer on their mobile phone.

iDebit

iDebit is a lot like Interac, but with a smaller coverage area (i.e. fewer banks use it). Every member of TD Bank has automatic access to it. Simply choose iDebit as your method of payment, and you’ll be asked to choose your bank from a list. Select TD, then log into your online banking account as usual and complete the purchase. iDebit will create a barrier that blocks the merchant from receiving your bank info and vice versa.

InstaDebit

InstaDebit and iDebit have a lot in common, except that you don’t automatically have access rights to it. You must set up a user account to pay with InstaDebit. When you do, you’ll link your bank account and verify your identity. Once that’s done, it’s simple, safe, and ultra-fast to deposit with InstaDebit. The money comes right from your bank account. InstaDebit withdrawals are convenient too, but that money will go to your InstaDebit account. You’ll need to initiate a transfer from there to move the money back to your bank account.

The Bottom Line

TD Bank gambling payments aren’t directly supported, but you’ll find a number of eligible deposit and withdrawal options that mimic direct transfers. For this reason, we believe TD ranks almost as highly as Canadian banks that allow debit card deposits for online gambling. Its partnerships with Interac, iDebit, and InstaDebit ensure that Canada’s iGaming population will be able to utilize the most reputable websites in the international market.