Posted:
#1
First up, I won some big money in the regular season of football and college football this year and cashed out. The online book sent me a bank wire. I never had problems with them for years. My deposit method was MasterCard so the only way to cashout was bank wire.
The money was received within days and the cash was reserved at the bank in advance. So when the wire reached me, I had no problem taking the 50K in cash... on 2 occasions! My winnings were well into the 6-figures.
However, a few weeks later the bank manager started asking me questions. After I already told him they were winnings from online sports betting (which is legal here in Canada) he continued asking me more questions like if I was doing this for someone else and then told me my account was not an "ordinary" account with everyday banking transactions. Anyways, that matter was cleared HOWEVER,
The bank that issued the MasterCard now called me up for interrogations as if I was a criminal. After winning big, naturally I started losing some money back. I had about $60-70K that was deposited into the checking account with that bank (we'll call it bank2) in ckunks of $500-3000 over several months, which were immediately transferred to my MasterCard in order for me to be able to deposit into sportsbook.
MasterCard's user agreement even mentions that online gaming transactions are treated as "cash advances" and will incur a fee of $2.50. So not only MC allows these type of transactions, they make money off of it. Bank2 however says that I can keep my MC but I will have to close my checking account because Bank2 does not "like" these type of in-and-out accounts. I told them everything, the entire truth. Everything that I did was 100% legit and legal, yet they still accuse me of possible money laundering, undeclared revenue and all kinds of other non-sense.
What the hell do the banks want? They can't obligate me to use my debit card for "everyday purchases" if I prefer to use cash. I do not trust the banks enough to leave my bankroll in it. They cheat you, change user agreements left and right, tag you with hidden fees, play with words to suck every last penny they can, breach contracts at their discretion and even go around the law.
They ask me stupid question like what is the source of the funds and can I prove it? WTF? This is CANADA and the bank is not the police to tell me what I can and cannot do with MY own money.
Now I got 30 days to close that account. That would be a disaster if I cannot gamble with MasterCard. It's the only way that can allow you to get a bank wire withdrawal. Most banks VISA already don't allow online gaming transactions.
I will still have my MC but I won't be able to deposit into my checking account from the outside and transfer to my MC for the funds to be available instantly.
The money was received within days and the cash was reserved at the bank in advance. So when the wire reached me, I had no problem taking the 50K in cash... on 2 occasions! My winnings were well into the 6-figures.
However, a few weeks later the bank manager started asking me questions. After I already told him they were winnings from online sports betting (which is legal here in Canada) he continued asking me more questions like if I was doing this for someone else and then told me my account was not an "ordinary" account with everyday banking transactions. Anyways, that matter was cleared HOWEVER,
The bank that issued the MasterCard now called me up for interrogations as if I was a criminal. After winning big, naturally I started losing some money back. I had about $60-70K that was deposited into the checking account with that bank (we'll call it bank2) in ckunks of $500-3000 over several months, which were immediately transferred to my MasterCard in order for me to be able to deposit into sportsbook.
MasterCard's user agreement even mentions that online gaming transactions are treated as "cash advances" and will incur a fee of $2.50. So not only MC allows these type of transactions, they make money off of it. Bank2 however says that I can keep my MC but I will have to close my checking account because Bank2 does not "like" these type of in-and-out accounts. I told them everything, the entire truth. Everything that I did was 100% legit and legal, yet they still accuse me of possible money laundering, undeclared revenue and all kinds of other non-sense.
What the hell do the banks want? They can't obligate me to use my debit card for "everyday purchases" if I prefer to use cash. I do not trust the banks enough to leave my bankroll in it. They cheat you, change user agreements left and right, tag you with hidden fees, play with words to suck every last penny they can, breach contracts at their discretion and even go around the law.
They ask me stupid question like what is the source of the funds and can I prove it? WTF? This is CANADA and the bank is not the police to tell me what I can and cannot do with MY own money.
Now I got 30 days to close that account. That would be a disaster if I cannot gamble with MasterCard. It's the only way that can allow you to get a bank wire withdrawal. Most banks VISA already don't allow online gaming transactions.
I will still have my MC but I won't be able to deposit into my checking account from the outside and transfer to my MC for the funds to be available instantly.
0
they are a f**king joke just like this government......corrupt & malicious in everything they do.
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