Canadian Banks that Permit Online Gambling
The popularity of Canada casinos online with video slots and other popular entertainment has gradually increased over the years. Canadian players have always faced issues when trying to make legal deposits. The first online casinos in the country started to appear in 1994. Projects with gambling entertainment grew quickly, followed by legislation regulating the iGaming sector in 2009. Until then, many people were asking, “How do I fund my Canadian casino account?” Still, not all banks allow such payments.
Banks in Canada
Gamblers conduct financial transactions in many ways. The main thing is to find and register in a licensed and legal casino, the creators of which you can trust with your money. In 2025, there are dozens of banks in Canada that allow clients to make transactions that involve online casinos. Let’s look at the most famous financial institutions.
Bank of Montreal (BMO)
Most Canadian banks don’t like to work with gambling-related money transfers. The Bank of Montreal is the oldest financial institution whose customers can make payments at web casinos. The bank was founded in 1817 and is now the fourth largest in Canada. It has over 900 branches across the country, serving seven million customers. The bank’s management has set a number of special conditions that determine the rights to use their online services.
The fastest way to fund a casino account is through an automated clearing system or eCheck BMO. To use this method, the user must provide some personal information.
Bank of Nova Scotia (Scotiabank)
One of the largest banks in Canada, this bank is ranked among the five oldest financial institutions in the country. It was founded in 1832. The bank was one of the first in Canada to introduce a policy to restrict offshore transactions related to gambling and iGaming. The company described all the details in its Day-to-Day Banking document.
Under the established rules, the bank is authorized to close accounts and terminate service without prior notice if there is suspicion of fraudulent or unauthorized transactions. This also applies to gambling activities with real-money bets. However, Scotiabank does not prohibit financial transactions on betting sites. Players should study in detail the payment methods at online casinos in Canada before attempting to deposit from an account with Scotiabank.
Canadian Imperial Bank of Commerce (CIBC)
This bank has also been in the financial market of Canada for quite a long time — over 150 years. It is the second largest bank in the country, with 40,000 employees. CIBC has 11 million clients in Canada, the USA, Europe, Asia, and elsewhere. The bank allows deposits and money withdrawals for some foreign electronic casinos.
Royal Bank of Canada (RBC)
RBC is in second place in the official ranking of the largest Canadian banks. This financial institution enjoys the highest level of trust among the citizens of the country. The bank boasts some 16 million customers, and its staff includes 79,000 employees. Many gamblers use the services of RBC when they make deposits in CAD or withdraw the money received for registration after wagering.
Under the company’s credit card policy, customers cannot conduct transactions related to online gambling entertainment. This bank was one of the first to create a financial transaction policy against offshore virtual casinos.
Therefore, direct transactions from an RBC account are not possible, but there are casinos with Instadebit and other payment systems through which financial transactions can be made.
Toronto-Dominion Bank (TD Bank)
The bank has been operating since 1955 and ranks among the top most popular banks in the country. It has more than 1,100 offices and more than 10 million clients. The bank is compliant with U.S. law because it is headquartered in New Jersey.
When gamblers are looking for legitimate Canadian casino payment methods, they often consider using a Toronto-Dominion Bank account as an option. The company’s rules prohibit customers from making transactions related to online gambling entertainment. Instead, you can use other methods of payment — there are quite a few of them, and they are supported by all honest casinos.
Other Ways to Deposit at a Casino from a Bank Account
The policy of major Canadian banks prohibits their customers from using bank cards even in good online casinos, in which owners have a licence but where the company is registered abroad. The exception to this is some virtual establishments set up inside the country.
One popular way to make a deposit at a reliable casino is to use the eCheck system. In this case, the user enters all their personal information from their check, but not everyone is happy with it.
After choosing one of the casinos with good returns, the user has to decide how to deposit. This does not necessarily require the use of bank transfers. There are other methods, including electronic wallets, instant banking and so on.
Instant Banking
All of these methods were originally created for online purchases. These are popular and secure methods of making transactions, and they have found application in the iGaming industry as well.
- Interac. These are debit cards that are popular among Canadian citizens. To make a transaction through Interac, casinos ask for the user’s name, card number, period of validity and three-digit code.
- Instadebit. This is a Canadian payment system. It does not work in other countries. It functions as a type of online banking system. All transactions are subject to a fee of 1.95 CAD.
- iDebit. This is an instant payment system offered to gamblers at all Canadian banks. Transactions are conducted with a commission fee. For each transfer, the player pays between 0.15 to 2% of the amount. Online casinos with iDebit are very common in Canada and beyond.
- Wire Transfers. Wire transfers are common, but not all companies support them. Many of them prohibit transactions related to deposits at online casinos.
Electronic Wallets
This is a popular and convenient alternative to instant banking payment transactions. All transactions are fast, but you must have a registered account. Users are charged a fee when making transactions of any kind, especially when withdrawing funds to e-wallets.
- Neteller. This is an electronic payment system that works in the same way as Skrill. To make a transaction, the user must specify an email address. Payments are made instantly; the Neteller system features loyalty tiers. Members at the first level must pay a commission of 1.45%.
- ecoPayz. This e-wallet allows users to enter their phone numbers or email addresses. Each transaction attracts a fee: the commission is 2.99% of the amount. The company sets limits on the number of transactions and payments.
Prepaid Cards
They only allow you to make deposits; you cannot withdraw winnings from your balance at a casino using them. You can buy one of the prepaid cards, which will be described below, either online or in physical stores.
- PaySafeCard. Many gamblers choose Canadian casinos that accept PaySafeCard. These are prepaid cards ranging in value from 10 to 250 CAD. For a transaction at any normal casino, the player specifies a 16-character account code. When the card runs out of funds, it can be thrown away. You cannot withdraw money to your PaySafeCard account.
- Vanilla Prepaid. This is another prepaid card that works just like the PaySafeCard. This method of recharging your account is less common in virtual casinos without cheating.
- Revolut. A functional payment service with a checking account, debit card for 25 currencies and the option to trade on the stock exchange with no fees.
- AstroPay. An international payment system that allows people to pay for goods and services online, including replenishing accounts in virtual casinos and buying chips from real casinos.
- Neosurf. A popular online payment service by which people make deposits at gambling sites and pay for various products online. Casinos that accept Neosurf require the player to enter a PIN of 10 characters. You can buy a prepaid card at physical stores or online.
- Flexepin. A payment service that works with prepaid vouchers. Using these, you can pay for various goods and services on the Internet and make deposits in casinos.
Conclusions
All legal and licensed casinos, with or without verification, offer gamblers numerous methods for depositing and withdrawing winnings. All payment methods have their pros and cons. CA players should choose the best option, considering the commission, transaction speed, anonymity, and limits.
For example, when making a deposit to online casinos, the operator often does not charge the player additional interest. The funds are credited to the accounts immediately. The situation is different in terms of how payments are registered. Each company seeks to cover its costs for transactions, and each application for withdrawal is carefully checked by specialists in the financial department. This can take two to three days.
As for the deposit methods at safe casinos in Canada, there is a catch. Local gamblers are not charged income taxes by law. Winnings at a virtual casino are not treated as income like work or business activities. This concept was first established in the UK. Local laws determined that if the user does not live only on the profit from gambling entertainment or did not turn it into a business, there is no need for them to pay taxes.
Similarly, in Canada, there is no income tax on winnings received on bookmaker bets, races, lotteries, or poker tables. Only people engaged in certain activities are required by local law to pay deductions to the government. There is no requirement to declare payments through payment systems from Canadian Internet casinos.
FAQ
Why do banks block transactions related to online gambling?
All financial institutions in Canada and other countries operate under the laws of their country. Many Canadian banks are headquartered in the United States, so they are subject to US regulations. Under US law, transactions involving virtual gambling are prohibited.
What happens if the transaction is rejected?
In some Canadian banks, such transfers are blocked. The customer may even be asked to close their account. This mostly happens at the Toronto-Dominion Bank and the Royal Bank of Canada.
What is the best method for making a deposit?
There is no way to choose the best method for making a deposit. Each user will find certain conditions convenient. One of the most popular top-up options is Interac. It doesn’t charge commission, and payments are made through bank accounts; that is, the client does not have to create additional accounts.
2000+ available games
