bad beat from my bank: they "don't condone" my profession

[mperich]

Wheelz: thats a lot more than I was doing. They might not like it because it looks like structuring, which means basically you are withdrawing a lot of money but never allowing your transactions to be over 10k. This is because transactions of over 10K get reported to the government so structuring is meant sort of to keep you off their radar.

BTW I think wire xfers might be better for you as well, since the fee is only 10$, and you avoid netellers 2% exchange fee, plus you can withdraw up to $1M (if you have a really big month [img]/images/graemlins/wink.gif[/img] ) at a time. So if you withdraw say 30k then itll cost you 10$ instead of 600. maybe even more since your bank might give you a better exchange rate than neteller, so maybe it will save up to 900 on 30k.

-Mike

[wheelz]

[ QUOTE ]
WTFWTFWTF? There MUST be more to the story. It's amazing to me that the bank can even decide to do this type of thing. How is it any of their business whos writing your cheques? I'd be interested to know if anyone else (Canadian) has experienced this type of thing, or if this is just an isolated incident.

Yikes.

[/ QUOTE ]

the guy was talking about how a long time ago a similar thing happened with someone who owned some sort of gun company... they decided they were morally opposed to that too and weren't going to allow him to do his banking. i think he said he ended up winning his appeal though.

this is all news to me too, i don't understand why they care as long as i'm not doing anything illegal.

[keikiwai]

I would contact your local newspaper and TV... I'm sure the public would want to know that you are not free to do what you want with your money...

give the press a call, hopefully they'll take your story, and make Scotiabank look like the strong arming psychos that they are

[wheelz]

sounds like a much better deal to me. i'll look into that.

[2eazy]

i am with royal bank and i withdraw alot, they havent said anything, they kinda find it cool i make a living of poker

[stinkypete]

[ QUOTE ]
sounds like a much better deal to me. i'll look into that.

[/ QUOTE ]

if you withdraw through party you'll get like 3% more than through neteller. your bank probably wont give you a rate much better than neteller (if at all).

[Neko]

Wow that is brutal.

Do you play at UB at all?

When you withdraw money from them they will send you a check in Canadian funds and FedEx it to you free of charge if the withdrawl is over 2K USD. I have been really happy with this service and I have always got my cheques in less than a week. You also avoid Netteller fees this way too.

[wheelz]

i play on party/stars/ub

i know there are other ways to get to my money, and apparently i've been costing myself a good amount of money by not using them... i will start using them now though. it's the principle of this whole situation that pisses me off more than anything.

[mperich]

Now that I look at what they gave me, it was about 1% better than neteller, so maybe party IS the way to go, altho I think you still might get structuring problems if you are withdrawing very often. The problem is that party wires the money in USD and then the bank converts it, as opposed to party converting it and wiring it in CDN$

-Mike

[Dan BRIGHT]

There are lots of banks in Canada I'm sure at least one wont mind holding on to your poker money.