Does Scotiabank Allow Online Gambling? Read Our Guide

Scotiabank logoScotiabank was the first bank established in Canada, dating back to 1832. Despite being one of the oldest and most established financial institutions in Canada, this bank has made it virtually impossible for gamblers to withdraw or deposit their money on online gambling websites that operate offshore. To this day, the only way to make deposits and withdrawals at online casinos is if you use an intermediary or secondary service.

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Table of content

    Scotiabank’s Gambling Policy

    Scotiabank’s Gambling

    According to the bank’s handbook, they can restrict the use of any account without giving notice in advance if they suspect that some illegal or fraudulent activities are being performed. They specifically mention transactions for illegal internet gambling.

    Now, to make one thing clear – there aren’t any specific laws that make offshore casinos that offer gambling in Canada illegal. This is perfectly legal for you to do, but some financial institutions such as Scotiabank can still pose their own restrictions – even if they don’t really make sense.

    Best Option for ScotiaBank Deposits – Interac e-Transfer

    Lucky for players, there’s a very popular, very good solution – Interac e-Transfer. This money transfer facilitator is known to bypass the embargo that the bank poses for legal offshore gambling. Canadians can use Interac e-transfer to access Gigadat, a secondary processor, and deposit directly from their bank account to the top online casinos Сanada.

    Keep in mind that, even though Interac e-Transfer works, the Interac Online service will not.

    Other Options for Online Gambling with Your Scotiabank Account

    If you aren’t interested in using Interac to deposit your money, you have limited options. Unless you choose this method, you cannot deposit directly from your bank account. But, there’s an alternative – you can move your money in another place first, and use that method to make deposit.

    Some alternatives that allow you to do exactly that include:

    E-wallets

    ecoPayz

    Right now, ecoPayz is one of the most popular e-wallets among Canadians. This is another way to use your Scotiabank money to gamble online by topping up your ecoPayz account, or the card.

    ecoPayz offers one-time use virtual cards that can be connected to your wallet, as well as plastic ecoCards that you can use as regular bank cards. You can load your casino account with money by linking the e-wallet directly or by using the card.

    To fund the e-wallet, you can use the counter at your local Scotiabank, or use credit and debit cards provided by the bank.

    iDebit

    iDebit’s e-wallet service can be funded with your bank account. When you fill it, the bank no longer has access to your money, and they cannot prevent you from using them as you please. Since this e-wallet doesn’t place such restrictions for Canadians, you can use iDebit to deposit and withdraw at online casinos.

    InstaDebit

    InstaDebit is very similar to iDebit and other e-wallets. Many Canadians use it not only to transfer money from banks that don’t allow online gambling, but also to add an extra security to their transactions. You can create a temporary account with a specified spending limit at many casinos when using this method. If you want to use it more frequently, you can just verify the bank account with InstaDebit and raise your spending limits.

    Gift Cards and Prepaid Cards

    Even though you cannot use your Scotiabank credit or debit card, you can still use other kinds of cards you purchase with it or top up online. You can use your Scotiabank cards to purchase prepaid or gift cards, and fill them up when they’re empty. Some of the most popular options for Canadians right now are:

    Paysafecard

    Right now, the only product from the Paysafe Group Limited collection available to Canadians for gambling is Paysafecard. Even though Skrill and Neteller are not available in Canadian online casinos right now, their highly popular prepaid card is trending more than ever – and it is widely accepted.

    You can purchase this prepaid card online or in stores. It works as a regular card – has 16 digits that you can enter to make your deposits online. You can buy it or fill it with your Scotiabank money, but keep in mind that it isn’t available for withdrawals.

    Vanilla

    Vanilla prepaid cards come in two forms – MasterCard or Visa. You can pick between the two at the cashier and use them to deposit at most Canadian online casinos. These are sold at thousands of stores and locations including Petro Canada, 7-11, and Mac’s.

    Neosurf

    Neosurf is a prepaid card or a voucher, but it is also similar to e-wallets since it offers players a chance to manage an account. This also means that you can use it for withdrawals as well as for deposits, and refill it when you’ve spent your money and want to gamble some more.

    Instant Gift Cards

    These are less popular and less frequently used – and not even that available at online casinos. In most cases, you won’t find this option until you get to the cashier section at the online casino. If you find an option that says: “Instant gift card” when you try to make your deposit, you can use your Scotiabank card to purchase the virtual card and gamble.

    Using Cryptocurrency to Gamble: Bitcoin with Instant PayPal Cashouts

    The majority of banks in Canada stopped allowing cryptocurrency purchases in 2018. Your options here are limited to exchanges like Coinbase that still allow for an exchange. Still, Coinbase doesn’t support Canadian bank accounts for selling or buying cryptocurrency.

    What are your options, then?

    You can use your branded Scotiabank Visa debit card to make instant crypto purchases and once you have them available on the exchange, you can use them at online casinos that allow for this banking method.

    If you win some money and are ready to cash out, all you need to do is request a Bitcoin (or other cryptocurrency) withdrawal. When you do it, the casino in question will send your withdrawal to your Coinbase wallet.

    What do you do when you have your Bitcoins in Coinbase?

    From there, you can use your PayPal to withdraw the money. Cashouts usually take minutes to a few hours when you use PayPal. At this point, you have your money ready to move to your bank account, get them at the ATM if you have the card, or spend them online.

    Wrapping Up

    Scotiabank has grown over the years as one of the stricter financial institutions in Canada. They have made it hard to gamble at online casinos directly, but it is still not impossible. Since many Canadians have their money at their Scotiabank account, they often seek solutions for online gambling.

    Because it is direct and very affordable, most use Interac e-Transfers or top up their EcoPayz to make deposits and withdrawals. If these aren’t your preference, you can choose any of the methods above that suit your needs.

    David G. Schwartz
    Wrriten by: David G. Schwartz
    David loves gambling and history, after being a professor at UNLV for 10 years - David was given an opportunity to create a center focused on gaming research.
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