World Money Pay® – Foreign Exchange, International Remittance & Payments. Buy and Sell USD Foreign Currency. Get Exchange Rates Up to 2% Better Than Banks. Contact Us to Start Saving Today! Highly Secure Process. Cheapest Exchange Fees. Best Rates Guaranteed. FINTRAC-Regulated. MSB Registration Number #M18879370.Who we are?
World Money Pay (‘we’ or ‘us’) use and are responsible for certain personal information about you. When we do so we are regulated under the General Data Protection Regulations, which apply across Canada and we are responsible as ‘controller’ of that personal information for the purposes of those laws.What information do we collect?
We collect the following personal information that you provide to us:
Telephone calls made and received by World Money Pay may be recorded and internally monitored for the purposes:
Data Protection Laws sets out through PIPEDA has 10 principles in care in the handling of personal information is essential to continued consumer confidence and good will. Personal Information Protection and Electronic Documents Act (PIPEDA) contains an overriding obligation that any collection, use or disclosure of personal information must only be for purposes that a reasonable person would deem appropriate given the circumstances. World Money Pay predominately relies on the following:Consent
This means processing your personal data where you have explicitly given us permission to do so.Performance of a Contract
This means processing your personal data in order to fulfil our contractual obligations with you.Legal Obligations
This means processing your personal data where it is necessary for compliance with a legal or regulatory obligation to which we are subjectLegitimate Interests
This means processing your personal data where we or a third party have a legitimate interest to do so. We make sure we consider and balance any potential impact on your rights before we process your personal data for our legitimate interests. Where our interests are overridden by a negative impact on your rights, we will not process your personal data.Personal information you provide about third parties:
If you give us information about any person you confirm that the other person has appointed, you to act on their behalf and agreed that you:
World Money Pay may receive information about you from other sources. This information includes:
World Money Pay will add this information to the information new hold about you for the following purposes:
World Money Pay may monitor communications such as emails and telephone calls for the following purposes;
A cookie is a small text file, which is placed onto your computer or electronic device when you access out website. Similar technologies include web beacons, action tags, local shared objects (‘flash cookies’) and single-pixel gifs. Such technologies can be used to track users’ actions and activities, and to store information about them. We use these cookies and/or similar technologies on this website.
We collect information about our users for the following purposes:
We would like to send you information about products, services and our business, which may be of interest to you. Such information could be sent by post, email, or telephone. We will ask whether you would like us to send you marketing messages on the first occasion that you provide any relevant contact information (i.e. on signing up to trade with World Money Pay). If you do opt in to receive such marketing from us, you can opt out at any time (see ‘What rights do you have?’ below for further information). If you have any queries about how to opt out, or if you are receiving messaged you do not want to, you can contact us using the details provided below.Credit Checking
We may do a credit check on you so that we can make credit decisions about you, to prevent and detect fraud and money laundering. Any such search will be recorded on the files of the credit reference agency. We may also disclose information about how you conduct your account to credit reference agencies and your information may be linked to records relating to other people living at the same address with whom you are financially linked.
Other credit businesses may use your information to:
If you provide false or inaccurate information to us and we suspect fraud, we will record this.
Please note the World Money Pay website may from time to time contain links to and from the websites of our partner networks, advertisers and affiliates. If you follow a link to any of these websites, please note that these websites have their own privacy policies and that we do not accept any responsibility for them. Please check these policies before you submit any personal data to these websites.Whether personal information has to be provided by you, and if so, why.
World Money Pay is required to know a reasonably extensive amount of private information about our clients. This ensures that we maintain our commitment to complying with all applicable laws and regulations related to the Proceeds of Crime (Money Laundering) & Terrorist Financing Act (PCMLTFA), and protect against fraud.
The provision of the following information is required from you:
We will inform you at the point of collecting information from you, whether you are required to provide the information to us.How long your personal information will be kept
We will hold your personal information for the following periods:
These periods are no longer than necessary in each case.Inactive Accounts
If you have not used your account for more than two years, it will be flagged as inactive and we’ll contact you to ask whether you want to keep it open. Unless you reply to say ‘yes’, we will close and deactivate your account.
If you inform us you longer wish to have a World Money Pay account, we will close and deactivate your account.Closed Accounts
At the end of the retention period, your personal data will either be anonymised (so that it can only be used in a non-identifiable way for statistical analysis, business planning), made inaccessible or unintelligible (for system integrity purposes) or deleted completely.Reasons we can collect and use personal information
We rely on the following lawful basis on which we collect and use your personal information:
World Money Pay has appropriate security measures in place to prevent personal information from being accidentally lost or used or accessed in an unauthorised way. We limit access to your personal information to those who have a genuine business need to know it. Those processing your information will do so only in an authorised manner and are subject to a duty of confidentiality. We will also use technological and organisation measures to keep your information secure. We also have procedures in place to deal with any suspected data security breach. We will notify you and any applicable regulator of a suspected data security breach where we are legally required to do so. Indeed, whilst we will use all reasonable efforts to secure your personal data, in using the site you acknowledge the use of the internet is not entirely secure and for this reason we cannot guarantee the security or integrity of personal data that is transferred from you or to you via the internet. If you have any particular concerns about your information, please contact us using the details below.
We provide our employees with training and detailed information about our data handling practices through internal company policies such as our Data Protection Policy. All employees have to certify that they have read and understood the contents of our Data Protection Policy where is reviewed and updated on an annual basis. As well as our data protection policy, which governs how we process data throughout World Money Pay, we have a separate suite of internal policies which govern areas such as information security and information classification.
Protections include, but are not limited to, mature access control (with strict procedures around privileged access), network segmentation, standard security appliances (firewalls, IPS, AV, monitoring via SIEM), secure configuration and system hardening, monthly vulnerability assessments and yearly penetration tests, documented processes and procedures, DLP protection, rogue detection, blacklisting/whitelisting, and monthly rolling patch management and vulnerability remediation.Transfers of your information outside of Canada.
We may need to transfer your personal data to the following countries outside.
These transfers will be undertaken for the purposes of:
Any transfers to these countries will be undertaken on the basis that the country, territory or one or more specific sectors in that country, or an international organisation ensures an adequate level of protection.
For more information on the basis of any non-EEA transfers, our safeguards or Commission details please contact us as described below. We will not otherwise transfer your personal data outside the EEA or to any organisation (or subordinate bodies) governed by public international law or which is set up under any agreement between two or more countries.What rights do you have?
Under the PIPEDA, you have a number of important rights free of charge. In summary, those include rights to;
You have a number of rights under Canada's Data Protection Laws (PIPEDA) which, in certain circumstances, you may be able to exercise in relation to the personal data we process about you. PIPEDA generally applies to personal information held by private sector organizations that are not federally-regulated. All businesses that operate in Canada and handle personal information that crosses provincial or national borders are subject to PIPEDA regardless of which province or territory they are based in.
This includes:Right to Access:
You have a right to receive a copy of the personal data we hold about you. This is commonly known as a Data Subject Access Request.Right to Data Portability:
You have a right to receive certain information you have provided to us in a ‘machine-readable’ format and/or request that we transmit it to a third party.Right to Erasure:
You have a right to request that we erase your personal data. However, we may not always be able to comply with your request of erasure for specific legal reasons which will be notified to you, if applicable, at the time of your request.Right to Object:
In cases where we are processing your personal data on the basis of our legitimate interest, you can ask us to stop for reasons connected to your individual situation. We must then do so unless we believe we have a legitimate overriding reason to continue processing your personal data.Right to Lodge a Complaint:
You have the right to lodge a complaint with your national data protection authority. Further details can be found in the "Contact" section of this Policy.Right to Rectification:
Where your personal data is inaccurate, out-of-date or incomplete, you have the right to request an amendment to it.Right to Withdraw Consent:
Where you have given us your consent to process your personal data, you have the right to change your mind at any time and withdraw that consent.
If you wish to exercise any of these rights, please get in touch by using the details in the “Contact” section below. Please note we will ask you to verify your identity before proceeding with any request you make.
For further information on each of those rights, including the circumstances in which they apply, see the
If you would like to exercise, any of these rights please:
You can direct any questions or complaints about the use or disclosure of your personal data to us at:
Data Protection Officer
Post: 1200 Bay St. Suite 202 Toronto, Ontario, Canada M5R 2A5
If you feel that your personal data has not been handled correctly, or you are unhappy with our response to any requests you have made to us regarding the use of your personal data, you have the right to lodge a complaint with The Privacy Commissioner of Canada .
If you are based outside the UK, you have the right to lodge your complaint with the relevant data protection authority in your country of residence.
For other matters, please contact your Account Executive or your usual point of contact. You can also speak to a member of the World Money Pay team by calling World Money Pay Customer Service.
If you have any questions about this policy or the information we hold about you, please contact us by; Email:firstname.lastname@example.org. We will update the information we hold on you as and when you provide it to us during our communications with you. However, whenever possible, you should advise us if information we hold on you needs updating or is no longer accurate.
In 2016, online transfers continued their remarkable growth expanding to 177 million transactions worth $68 billion. EFT payments have become the most common form of remote commercial payment, growing to account for more transaction volume than cheques by a large margin.
World Bank data sets the number at US$613 billion that was sent in remittances worldwide in 2017. In the same year, Canada received US$1.3 billion in remittances which represents 0.22% of total remittances sent worldwide. On the flipside, the US$24.6 billion that we sent overseas represents a much larger 4% of total remittances sent.
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Currency Transfer Rate Savings
Currency Transfer Rate Savings
Foreign Tradable Currencies Available
World Money Pay® - foreign exchange, international remittance & payments. Buy & Sell Foreign Currency. MSB Registration Number #M18879370.Top 10 remittance recipients in 2015 ($US billions): India ($72.2bn), China ($63.9bn), the Philippines ($29.7bn), Mexico ($25.7bn), Nigeria ($20.8bn), the Arab Republic of Egypt ($20.4bn), Pakistan ($20.1bn), Bangladesh ($15.8bn), Vietnam ($12.3bn), Indonesia ($10.5bn)