Are there any laws against online gambling in Canada?

[slim]

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It depends on whether the bank's VISA processor is located in Canada (TD) or in the US (RBC) as to whether or not they can handle gambling cash transfers. Your TD US$ Visa, on the other hand, might actually be housed in the US.

Frankly, I think you've been lucky to cash back to your TD Visa up until now. Almost every site that I tried it on back in 2005 told me "We can't do that since you live in Canada", hence the need for a e-wallet or to issue a cheque/EFT through Party.

I can see why VISA, with a large US presence, might be leery about consumers using their VISA cards (issued and handled by Canadian institutions) as wallets to pass through gambling transactions at this point. Why else would Neteller, Citadel and Firepay, all with Canadian employees, shut down payment processing services to Canadians? (BTW, did anyone ever get a satisfactory answer as to what caused that? I asked all three, and no one would disclose anything aside from vague threats regarding the legality of certain aspects of online gaming.)

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I'm pretty certain even though it is a US visa card, all transaction processing is in Canada because otherwise I wouldn't have been able to get away with it for 6 months. We will see what happens. I may just deposit everything back onto Party and eat the cost of currency exchange and cash out by cheque.

[nimajneb]

I've no satisfactory answer either regarding Neteller's withdrawl from Canada but the best article I've come across can be found:

here

[jason6633]

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I'm thinking (hoping) that Visa just realised there was a pattern of positive balances with only one debt and thought it was suspicious and don't like being used as a bank acct.

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IMO this is likely true, it is reasonable to assume that Visa wants to investigate a little to make sure the transactions are legitimate and not a sign of money laundering. Positive balances/overpaying credit cards are a common method of laundering money/hiding assets and being suspicious they are then also required to report to FINTRAC.

As for eWallets withdrawing I imagine it was a preventative and proactive decision, no one wants to be in the current Neteller situation with $50+ million in client assets frozen.

[newstop]

I have been cashing out regularly from Party to my Canadian bank account (EFT), without any problems, and at no charge at all. I dont understand why you were cashing out to your Visa card, instead of doing an EFT directly to your bank account .

[cardman]

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I'm thinking (hoping) that Visa just realised there was a pattern of positive balances with only one debt and thought it was suspicious and don't like being used as a bank acct.

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I hate to say it but if I was Visa, I would think exactly the same way. You have a credit card that you are using like Neteller. I would dump you as a really bad customer who seems to be using their credit card mostly IN REVERSE (cashouts).

[slim]

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I have been cashing out regularly from Party to my Canadian bank account (EFT), without any problems, and at no charge at all. I dont understand why you were cashing out to your Visa card, instead of doing an EFT directly to your bank account .

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because I wanted the funds to remain in US dollars.

[slim]

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I'm thinking (hoping) that Visa just realised there was a pattern of positive balances with only one debt and thought it was suspicious and don't like being used as a bank acct.

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I hate to say it but if I was Visa, I would think exactly the same way. You have a credit card that you are using like Neteller. I would dump you as a really bad customer who seems to be using their credit card mostly IN REVERSE (cashouts).

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I guess.....but do they have the right to do that if it doesn't explicitly say so in the contract?

[slim]

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I'm thinking (hoping) that Visa just realised there was a pattern of positive balances with only one debt and thought it was suspicious and don't like being used as a bank acct.

[/ QUOTE ]

I hate to say it but if I was Visa, I would think exactly the same way. You have a credit card that you are using like Neteller. I would dump you as a really bad customer who seems to be using their credit card mostly IN REVERSE (cashouts).

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and if I was a big losing player, and always had to make deposits, then they would be cool with it.....

[cardman]

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and if I was a big losing player, and always had to make deposits, then they would be cool with it.....

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Probably. You're too good at poker for your own good!

[cardman]

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I guess.....but do they have the right to do that if it doesn't explicitly say so in the contract?

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Your situation is pretty rare. You have to admit that not many people cash out that MUCH money through their credit cards.