The Canadian Imperial Bank of Commerce (CIBC) boasts over 150 years of serving as a financial institution in Canada. It is the youngest among the Big Five Banks, which includes Scotiabank, Royal Bank of Canada, Bank of Montreal and TD Bank.
CIBC is considered to be the second-largest bank in Canada, with over 40000 employees providing services to over 11 million customers spread out in Canada, Europe, Asia, United States, the Caribbean, among others. The bank values Canadian players who enjoy wagering in offshore casinos. Here is a list of CIBC casinos that allow Canadian players to fund their gambling activities with money from their bank account.
TOP CIBC Online Casinos List
The Official Position of CIBC Online Gambling
CIBC bank had been the most lenient financial institution in Canada in terms of funding betting activities until 1st July 2014 when the bank put a restriction on CIBC credit card online gambling.
According to the Canadian Imperial Bank of Commerce credit card agreement, cardholders are prohibited from making gambling transactions. Its official position regarding online gambling is that the bank may block transactions that are affiliated to internet gambling.
Generally, the CIBC terms are equally as ambiguous as the Canadian laws on online gambling. Practically some Canadian players have registered success by using a debit card and Interac eTransfer to deposit in casinos using money from their bank accounts.
In some instances, the operations may go through, but they are treated as cash advance, which comes with a fee and interest. If you are still skeptical about making a direct transaction using your VISA debit card or eCheck and ACH facility, then you can even use other ways to access your CIBC funds for online gambling.
- We’ll give you 100% back on your first deposit up to C$200 – that’s up to C$200 free!
- We’ll give you 150% back on your second deposit up to C$150 – that’s up to C$150 free!
CIBC online gambling payment methods for Deposits and Withdrawals
With the CIBC gambling restriction in action, you can still fund your online gambling activities right from your bank account. Since the bank has put strict gambling restrictions on the use of credit cards, you still have the option of using your debit card and other alternative methods.
CIBC to Interac
As mentioned earlier, Interac is one of the most preferred online payment methods in Canada. Many Canadian gamblers are using Interac’s eTransfer service to make casino deposits and withdrawals with CIBC. It is a highly secure payment method that ensures that no sensitive financial information is leaked in the process.
We recommend using this payment option to fund your gaming activities in Canadian casinos that accept Interac e-Transfers.
CIBC to Neosurf
Neosurf could be the simplest way to pay and play online using cash. This transaction requires that you use money from your bank account and purchase a cash voucher, which will later be used in an online casino that accepts Neosurf. You will only need a 10-character Neosurf code to complete the transaction without disclosing your bank or personal information. The only drawback is that there is a maximum limit.
CIBC to PaysafeCard
CIBC bank may not process online gambling transactions, but they would not deny you the opportunity to purchase a prepaid card. You can use your VISA or MasterCard to purchase a Paysafecard prepaid voucher, which comes in handy in casinos that accept Paysafecard.
CIBC to Bitcoin
Canadian players that are fond of gambling in casinos that accept bitcoins can easily access their CIBC bank account through bitcoin exchanges and later make the transfer. The bank has a ban on using its credit card to buy cryptocurrency. However, there is no information online on the bans of using debit cards to buy bitcoins.
CIBC to ecoPayz
Most Canadian casinos prefer payment through electronic wallets. Many of these gambling sites list ecoPayz as an option. Different from an intermediary service provider, players need to create an account and deposit money before they can make any bank wire transfer or purchase transactions. You get to enjoy instant deposits through ecoPayz’s online money transfer services.
CIBC to Instadebit
Instadebit allows you to transfer funds from your bank account to any casino that accepts Instadebit and back, in case you wish to cash out your winnings. This method works as an intermediary between your gambling and banking accounts. Any transactions you make with your Instadebit will not reflect on your bank account. It is way easier to get your money out of CIBC bank and the casino using Instadebit.
CIBC to IDebit
The process of funding your casino account with money from your bank account using this method is similar to that of Instadebit. Besides instant deposits, Canadian players can request withdrawals through IDebit, only that it may take a few days to be processed.
CIBC to Vanilla prepaid
Vanilla prepaid cards work on CIBC online casino, so if you can find a way to purchase through your bank account of cards, then you will be able to fund your gambling activities. The only drawback in this solution is that it incurs a small CIBC gambling fee, and you cannot use it to make withdrawals. Most Canadian players recommend the use of Visa CIBC online or Mastercard branded Vanilla cards.
Pros and Cos of CIBC online casinos
Pros of CIBC gambling sites payment
- Quick and easy to set up and use alternative payment methods
- More discreet billing information
- A large collection of casino games
- Costly when transactions are treated as cash advance
Yes, online gambling is allowed. You can make gamble transactions using CIBC while you can playing legal and licenced Canadian online casinos.
Yes, you can deposit to online casino with CIBC but not with your credit card. We recommend trying the above listed alternative methods before you use your debit card.
CIBS is a trusted and respected member of Canada’s Big Five banking institutions. Therefore, it is safe to use some of the listed payment methods to fund your gambling activities.
Some CIBC casinos fees are usually small, and most are deducted by the bank. Playing in the best