Terms & Conditions

Effective Date: March 8, 2026

Welcome to CanaPay. These Terms and Conditions (“Terms”) govern your access to and use of our website (https://canapay.ca/), mobile applications, and global payment services. By signing up for an account or using our services, you agree to be bound by these Terms.

1. Our Services

CanaPay provides a financial infrastructure for:

  • Multi-currency accounts and digital wallets.
  • Cross-border payments via SWIFT and local payment networks.
  • Currency exchange services (FX).

2. Eligibility and Account Registration

  • Verification: To use our services, you must complete our KYC (Know Your Customer) process by providing valid government-issued ID and business documentation (Step 3).
  • Accuracy: You agree to provide accurate, current, and complete information.
  • Security: You are responsible for maintaining the confidentiality of your account credentials. CanaPay is not liable for unauthorized access resulting from your failure to secure your account.

3. Currency Exchange and Rates

  • Live Rates: Exchange rates fluctuate in real-time based on global market conditions.
  • Rate Lock: The rate applied to your transaction is the rate confirmed at the time the “Execute” or “Confirm” button is clicked.
  • No Reversals: Once a currency exchange is confirmed and executed, it cannot be cancelled or reversed.

4. Payments and Transfers

  • Cut-off Times: Transfers initiated after business hours or on holidays will be processed the next business day.
  • Intermediary Fees: While CanaPay offers competitive rates, third-party intermediary banks or receiving banks may deduct fees from the transfer amount. CanaPay is not responsible for these external charges.
  • Transaction Delays: We are not liable for delays caused by the SWIFT network, local banking systems, or regulatory compliance checks.

5. Compliance and Prohibited Activities

  • AML/ATF: As a registered MSB (License M24514203), we strictly monitor for money laundering and terrorist financing.
  • Prohibited Use: You may not use CanaPay for illegal activities, including but not limited to: gambling, drug trafficking, or transactions involving sanctioned individuals/countries.
  • Reporting: We reserve the right to report suspicious transactions to FINTRAC or other authorities without prior notice to you.

6. Fees and Charges

  • CanaPay reserves the right to charge service fees for transfers or account maintenance.
  • All fees will be disclosed to you before you confirm a transaction.

7. Limitation of Liability

To the maximum extent permitted by law, CanaPay shall not be liable for:

  • Any loss of profit, indirect, or consequential damages.
  • Losses caused by incorrect information provided by the user (e.g., wrong IBAN or recipient name).
  • System outages or technical failures beyond our reasonable control.

8. Refunds and Cancellations

  • Cancellations are only possible if the transfer has not yet been processed by our banking partners.
  • In the event of a refund, the amount returned will be based on the current market exchange rate, which may be lower than the original rate.

9. Termination

We reserve the right to suspend or terminate your account immediately if:

  • You breach these Terms.
  • We suspect fraudulent or illegal activity.
  • Required by law or regulatory bodies.

10. Governing Law

These Terms are governed by and construed in accordance with the laws of the Province of Ontario and the federal laws of Canada.

11. Contact Us

For any questions regarding these Terms, please contact us at:

  • Email: info@cana-pay.com
  • Address: #731D, 2967 Dundas Street West, Toronto, Ontario