WORLD MONEY PAY

Toronto Currency Exchange

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.

Best Foreign Exchange Rate Toronto

You are only authorized to use this Website if you agree to be bound by these Terms of Use. If you wish to use any of our Services you will be asked to enter into separate terms and conditions. In these Terms of Use the following terms shall have the following meanings:

‘Services’ means the various services provided by World Money Pay.

‘Terms of Use’ means these terms and conditions of use of the Website.

‘World Money Pay’ means World Money Pay and its branches, subsidiaries, affiliates and sister companies set out here.

‘Website’ means this website and all its contents.

‘You’ means the user of this Website.

Use of the Website

This Website is for your personal use only. Without limiting the general scope of the aforementioned limitation, you agree not to copy, modify, reproduce, distribute, transmit, display, publish or create derivative works from any of the information or other material on this Website, except where permission is expressly given elsewhere on this Website. You warrant that you will not use this Website for any purpose that is unlawful or for any use that is in breach of these Terms of Use. World Money Pay may change the contents of this Website or withdraw it from use at any time without liability to you.

You warrant that you have the legal capacity to enter into these Terms of Use. You agree to be fully responsible for your use of this Website.

Liability Disclaimer

World Money Pay shall not have any liability in contract, tort (including negligence) or otherwise (except in the case of its fraud or death or personal injury, liability for which remains unlimited) for direct, indirect or consequential losses or for loss of profit, contract or opportunity for the information, software, products or Services (including without limit any items that are specifically available to be downloaded) contained or referred to in this Website or your use of them. World Money Pay makes no representation or warranty as to their accuracy or their suitability for your requirements or that they or the Website is free from viruses. World Money Pay expressly excludes as far as is allowed by law, all terms implied into these Terms of Use by way of statute or otherwise.

Legal Jurisdiction

These Terms of Use are governed in all respects by the laws of England and you agree that all disputes arising out of or relating to this Website will be decided by the English courts. Use of this website from a jurisdiction that would not give effect to these Terms of Use is not permitted.

Copyright, Trade Mark and other Intellectual Property Rights

The contents of this Website are copyright protected © Copyright 2020 World Money Pay® are registered Trade Marks. All Design Rights and other intellectual property rights in the site are the property of World Money Pay or are licensed for use by World Money Pay and will be vigorously protected. You agree not to infringe any of the intellectual property rights of the World Money Pay.

Protecting Your Privacy

All personal data that you provide to us in connection with the Services is processed by us in accordance with our Privacy Policy. To view our Privacy Policy, click here.

This website may contain links to third party websites which have been designed and are operated by parties other than World Money Pay does not have any control over these sites or their contents and in no way accepts any liability for them. The presence of a hyperlink on this website is in no way an endorsement of the third parties or the contents of their websites and is no guarantee that they are free from viruses.

General

Each provision of these Terms of Use constitutes a separate right or obligation. If any of the words of these Terms of Use are found to be unenforceable, illegal or invalid then they shall be deemed to be removed from these Terms of Use and shall not affect the enforceability, legality or validity of the remaining words or provisions.

WORLD MONEY PAY TERMS OF USE
Last updated February 6, 2020

Thank you for visiting the World Money Pay web site at World Money Pay (the “Site”). These are important and legally binding terms and conditions that apply to your use of the services offered through this Site, which are referred to here as the “Services”. By using this Site you are agreeing to these terms and conditions (the “Agreement”). Please read this Agreement carefully, it is legally binding on you. We will refer to you in this Agreement as “you” or as a “CLIENT”. At the end of this Agreement, you will find a glossary of defined terms. If you have any questions concerning this Agreement, please contact World Money Pay through the contact information provided on the Site.

About World Money Pay

The Site is owned and operated by, and the Services are provided by, 9813837 Canada Corp., dba “www.worldmoneypay.com”, a Canadian corporation with its address at 1200 Bay St. Suite 202 Toronto, Ontario M5R 2A5 (“World Money Pay”, “us”, “we” or “our”).

World Money Pay is in the business of providing Three (3) Services:
(i) Foreign Exchange Dealing; (ii) Money Remittance; and (iii) Third Party Payment Processing or TPP Services.  World Money Pay is registered with: The Financial Transactions and Reports Analysis Centre of Canada (“FINTRAC”). More information concerning FINTRAC and the World Money Pay’s registration with it can be found here:

www.fintrac-canafe.gc.ca;

Consumer Complaint Information
If you have a complaint, contact World Money Pay consumer assistance through www.worldmoneypay.com

Consumer Financial Protection Bureau
Information for consumers is also available from the Consumer Financial Protection
Bureau (CFBP), by phone 855-411-2372 or 855-729-2372 (TTY/TDD) or
www.consumerfinance.gov

Private Clients, Users and Corporate Clients

Everyone who uses the Services is a client. However, each client must register
with World Money Pay through the Site as for a “Private Account” to become a “Private Client” or a “Corporate Account” to become a “Corporate”. A “Private User” must be an individual non-business user and the holder of an Account to be used for such purposes only. A “Business” must use the Services for business purposes and be the holder of an Corporate Account to be used for such purposes only. Private Accounts and Corporate Accounts are both Clients.

World Money Pay IS NOT A BANK

WORLD MONEY PAY IS NOT A BANK. ANY FUNDS THAT YOU USE TO PURCHASE WORLD MONEY PAY DOLLARS, AS DEFINED BELOW, LESS FEES APPLICABLE UNDER THIS AGREEMENT, ARE HELD BY WORLD MONEY PAY, OR ONE OF ITS AFFILIATES, IN A BUSINESS BANK ACCOUNT AT A BANK. IN THE EVENT OF A FAILURE OF SUCH INSTITUTION, WORLD MONEY PAY’S FUNDS AVAILABLE TO REPURCHASE YOUR WORLD MONEY PAY DOLLARS WILL NOT NECESSARILY BE INSURED. NONETHELESS, TO THE EXTENT POSSIBLE, WORLD MONEY PAY SHALL USE THE BENEFIT OF ANY BANK FAILURE INSURANCE IN ORDER TO SECURE FUNDS TO REPURCHASE YOUR WORLD MONEY PAY DOLLARS IF YOU WISH TO REDEEM THEM FOR CASH AT SUCH TIME.

1. Obligations of World Money Pay

1.1. Services

World Money Pay shall provide the Services to clients pursuant to the terms and conditions of this Agreement. Subject to the terms and conditions of this Agreement and payment of applicable Fees, the Services allow the following Transactions: (i) CLIENTs to buy World Money Pay Foreign Exchange Dollars from World Money Pay; (ii) transfer foreign currency; (iii) Send Money Remittance Transfer Internationally.

1.2. E-Wallet Services

The E-Wallet Services consist of the sale and purchase of World Money Pay Foreign Exchange pursuant hereto, and World Money Pay’s enabling you to receive, Foreign exchange or transfer World Money Pay, all as Transactions through the Account.

1.4. TPP Services

TPP Services are available to Businesses only and consist of permitting other Customers of Business to make a payment to World Money Pay where World Money Pay acts as a payment processor and agent for receipt of funds on behalf of Business. TPP Services may be used by a Business only in respect of direct Services/Products that it itself wishes to supply (i.e. Business
cannot permit third parties to use the TPP Services of the Business). As between Customer and Business, Business agrees to give full credit for all payment amounts received by World Money Pay through the TPP Services as of when World Money Pay receives the underlying funds and not as of that later time when the Transaction funds are available or delivered to the Business.

2.11. Taxes on Services

Unless otherwise notified, Fees are inclusive of all applicable taxes on the Services. World Money Pay may, at its discretion, deem taxes to be payable in addition to Fees by providing notice to that effect on the Site.

2.12. SPAM Prohibited

The CLIENT may also promote the Service or any Product, if any, in any manner it deems fit provided that such promotion does not violate any applicable laws and does not consist of use of phishing, bulk e-mails, fax blasting for any illegal or distasteful business practices.

2.13. COLLECTION, USE, STORAGE AND DISCLOSURE OF PERSONAL INFORMATION

CLIENT AUTHORIZES WORLD MONEY PAY AND ITS REPRESENTATIVES TO OBTAIN FROM THIRD PARTIES NON-PUBLIC PERSONAL INFORMATION CONCERNING THE CLIENT AND, AS THE CASE MAY BE, ITS OWNERS INCLUDING: FINANCIAL, CREDIT INFORMATION AND PERSONAL BACKGROUND RELATING TO CLIENT, ITS SHAREHOLDERS, DIRECTORS AND OFFICERS TO ASSIST WORLD MONEY PAY’S DETERMINATION OF WHETHER TO ACCEPT THIS AGREEMENT AND WORLD MONEY PAY’S CONTINUING EVALUATION OF THE FINANCIAL AND CREDIT STATUS OF THE CLIENT IN ORDER TO DETERMINE IF WORLD MONEY PAY SHALL CONTINUE TO OFFER THE SERVICES TO THE CLIENT.  SUCH PERSONAL INFORMATION SHALL BE COLLECTED, USED, STORED AND DISCLOSED TO THIRD PARTIES IN COMPLIANCE WITH THE WORLD MONEY PAY PRIVACY POLICY POSTED ON THE SITE.

2.14. Indemnification

CLIENT shall defend, indemnify and hold harmless World Money Pay, its directors, officers, employees, agents, assigns, and successors-in-interest from and against any and all third-party liability, damages, losses, claims, demands, actions, causes of action and costs (including attorneys’ fees and expenses) arising out of or resulting from (i) CLIENT’s performance under this Agreement including, without limitation, performance, non-performance, or defect in performance, any statement, misstatement, representation or misrepresentation made by CLIENT; (ii) the negligent or willful acts or omissions of CLIENT or CLIENT’s agents and/or employees; and (iii) any statements, claims, representations or warranties made by CLIENT or CLIENT’s agents and/or employees, relating to the Products or Services or any other matter.

3.2. Business Representations and Warranties

It is agreed between the Parties that performance by World Money Pay hereunder, whether the representations, warranties and covenants of Business are fulfilled or not, shall in no manner whatsoever waive the benefit, to World Money Pay, of any such representations, warranties and covenants of Business. Business hereby warrants and covenants to World Money Pay that:

3.2.1.Duly Constituted

The Business is a business or carries on an organized economic activity for profit or otherwise and, if it is not an individual, is duly constituted under the laws of its constituting jurisdiction and that it has legal capacity to enter into this Agreement and perform its obligations hereunder. The Business is registered as a business in every jurisdiction where it carries on business;

3.2.2. Duly authorized

Business has the necessary corporate power and authority to execute this Agreement and to perform its’ obligations hereunder. Such execution and performance by the Business does not require any action or consent of, any registration with, or notification to, any person, or any action or consent under any laws or regulations which the

Business is subject;

3.2.3. Notice of Defects

Business will immediately advise World Money Pay and its’ customers in writing of defects in the Product or any claim or threatened claim against it in relation to the Product; and

3.2.4. Compliance with Laws

The Product conforms to all Laws and Rules applicable where (i) World Money Pay, (ii) Business and (iii) its’ Customers are located, such as they may be from time to time. Business will conduct its business affairs in an ethical manner and in accordance with the terms and intent of this Agreement, and in compliance with all applicable laws and regulations, including but not limited to all laws and regulations applicable in each jurisdiction where the Product is sold by World Money Pay. Business shall not use the Services to sell or promote or otherwise facilitate any Prohibited Activity.

3.3. Opportunity to Consult Counsel

Business has had the opportunity to consult legal counsel for the purpose of reviewing and obtaining advice as to the terms hereof.

3.4. Taxes on Product

To the extent that Business is responsible for collecting taxes from its Customers for the sale of Product, then such responsibility shall be solely of the Business and Business shall indemnify and hold World Money Pay harmless from and against any and all liabilities that World Money Pay may incur in respect of taxes on Product.

3.5. World Money Pay Not Liable for Product

Business assumes all responsibilities and liabilities associated with its’ Product. World Money Pay assumes no liability for any Product and Business shall indemnify and hold World Money Pay harmless in respect of all claims, liabilities or other losses arising from, or on account of, any Product.

3.6. Sale of Product

Business shall offer for sale those Products that it advertises on the terms and conditions advertised by Business. Business shall not make any false representations concerning any Products. Business shall not sell or exchange any Product that is illegal in Canada, the United States or the European Union or any applicable jurisdiction where World Money Pay, Business or its’ Customers are located or domiciled. This provision shall also apply to all products and services sold by the Business, whether through acceptance of World Money Pay foreign exchange or otherwise.

3.7. Maintenance and Service

Business shall be exclusively responsible for any and all support and maintenance related to any Product and it shall supply such support and maintenance to purchasers of Product in a prompt, professional manner and on reasonable terms. While World Money Pay assumes no obligation in this regard, World Money Pay reserves the right to forward all correspondence concerning a Product to the Business.

3.8. Intellectual Property in Product

Business represents and warrants that the Product shall perform as described in any documentation relating thereto and shall be free from defects. If a breach of the foregoing occurs, Business shall replace, repair, and/or modify such Product without charge to World Money Pay and without delay. Business shall test programming materials that are part of its’ Product for viruses, time bombs, back doors and other disabling or harmful devices (“Unauthorized Code”) and remove any Unauthorized Code before use by Business, World Money Pay, or any customer of a Business. Business represents and warrants to World Money Pay that no portion of the Product is subject to the intellectual property rights of any third party, including but not limited to, copyrights, patent rights, trademark rights, trade secret rights, or rights as confidential information.

3.9. Compliance

Throughout the term hereof, Business and its’ Affiliates shall themselves ensure that: (i) the Product, and all related products or services, do not contain any content that is unlawful, threatening, defamatory, obscene or otherwise objectionable; (ii) the Product does not consist of, promote or relate to, Prohibited Activity.

3.10. Supplemental Business Information

Upon request by World Money Pay, Business shall provide to World Money Pay or its representatives reasonable access to Business’s facilities and records for the purpose of performing any inspection and/or copying of Business’s books and/or records deemed appropriate by World Money Pay in order to verify compliance with the terms hereof.  World Money Pay shall also use such information in order to determine the size and duration of a Hold applicable to an Account.

3.11. Security Interest and Hypothec

Business hereby grants to the World Money Pay a lien on, and security interest in and a hypothec on, the contents of the Account (the “Lien”), whether now existing or hereafter arising, to secure the Business’s obligations to pay Fees, the purchase price for World Money Pay Dollars and other amounts owing under this Agreement. The amount of the Lien shall be for the greater of (a) the amount of World Money Pay foreign exchange purchased or sold through the Account during the previous two (2) years; or (b) of notice on the Site of the amendment or revision, then the CLIENT shall be deemed to have accepted the amendment or revision. Other than as provided in this section, this Agreement may not be amended except by express consent of both parties through the Site or by such other means as World Money Pay may reasonably prescribe.

4. Provisions Applicable Only to Private Users

4.1. The following provisions apply to Private Users only:

4.2. Solely for Individual Use

Private User shall use the Services for personal individual non-business purposes only. In the event that World Money Pay determines in its’ sole discretion that a Private User is using the Services for business purposes, World Money Pay may: (i) terminate Private User’s access to the Services; or (ii) deem the Private User to be a Business and impose such fees and obligations as are applicable to Business hereunder. Private User shall give notice to World Money Pay of any intention to use the Services for anything other than personal individual and non-business uses.

4.3. Representations and Warranties

It is agreed between the Parties that performance by World Money Pay hereunder, whether the representations, warranties and covenants of the Private User are fulfilled or not, shall in no manner whatsoever waive the benefit to World Money Pay of any such representations, warranties and covenants of the Private User. The Personal User hereby warrants and covenants to World Money Pay that Private User is of at least 14 years of age or of the legal age for the conclusion of verbal contractual obligations in his or her place of residence and that he or she does not require the consent, approbation, or approval of any other person to conclude or contract a valid obligation of the type set forth herein. In the event that Private User requires the consent of a third party such as a parent or guardian to agree to this Agreement, then (a) Private User shall notify World Money Pay of such requirement through the Site or otherwise in writing; (b) Private User will not use the Services until such consent is obtained and delivered to World Money Pay; and (c) World Money Pay reserves the right to suspend the Account of the Private User, prohibiting the purchase, sale or transfer of World Money Pay. Users who are less than 18 years of age may be subject to certain parental consent requirements prior to being granted access to the Services.

5. Term and Termination

5.1. Term

This Agreement shall be effective commencing on the date that Client has accepted the terms of this Agreement via the Site or in writing (the“Effective Date”) and thirty (30) days thereafter (the “Initial Term”). After the Initial Term, this Agreement shall be renewed automatically for additional consecutive thirty (30) day periods, unless earlier terminated in accordance with the terms hereof.

5.2. Termination

Either party may terminate this Agreement at any time on notice to the other party. In the event that World Money Pay terminates this Agreement at will, and Private User is not in breach hereof, then World Money Pay shall give Private User thirty (30) days notice through the Site prior to the termination taking effect. Upon a breach of the terms hereof by a Private User, World Money Pay shall provide Private User with thirty (30) days notice through the Site to cure the breach. If the Private User breach is not cured within such thirty (30) days, then World Money Pay may thereafter terminate this Agreement on notice to the Private User through the Site. During such thirty (30) day cure period, World Money Pay may, at its sole discretion, suspend performance of the Services for the Private User by either limiting or prohibiting any purchase, sale or transfer of World Money Pay foreign exchange.

5.3. Procedure upon Termination

Upon any termination of this Agreement, Client shall longer be entitled to use the Account, Services or the Site. All provisions regarding indemnification, representations, warranties, liability and limits thereon and confidential information shall survive termination and termination of this Agreement shall not relieve the Client of its obligations to pay accrued Fees or other liabilities to Client hereunder. If this Agreement is terminated for breach by the Client, Client shall forfeit its’ rights to any Services. If Client wishes to redeem their World Money Pay Dollars on a termination hereof, it shall have the right to do so, subject to (a) World Money Pay first deducting from the Account and Fees or other amounts owing hereunder and (b) a Hold on the Account, if any.

6. Confidential Information

6.1. Confidentiality

Client agrees that, during the Term hereof, so long as Client is receiving Fees hereunder and for a period of two (2) years thereafter neither Client nor any of its Affiliates will directly or indirectly disclose any Confidential Information. For the purposes of this Agreement, “Confidential Information” means all proprietary, secret or confidential information or data relating to World Money Pay and any of its Affiliates, operations, employees, independent sales organizations, agents, products or services, clients, customers or potential customers, Clients, users or merchants. Confidential Information shall include, without limitation, Client lists, all Client agreements and all parts thereof, financial or other data in any format, computer access codes, instruction and/or procedural manuals, payroll information, human resource or personnel information, business strategies and the terms and conditions of this Agreement. Information shall not be considered Confidential Information to the extent, but only to the extent, that such information is: (i) already known to the receiving party free of any restriction at the time it is obtained; (ii) subsequently learned from an independent third party free of any restriction and without breach of this Agreement; (iii) or becomes publicly available through no wrongful act of the receiving party; (iv) independently developed by the receiving party without reference to any Confidential Information of the other; or (v) required to be disclosed by law. In order for Client to perform hereunder, World Money Pay will be obliged to disclose to Client certain Confidential Information concerning the Services and Business. Upon any termination hereof, Client shall return all Confidential Information in its possession to World Money Pay.

LIMITATION OF LIABILITY

7.1. NO WARRANTIES

THE SERVICE IS PROVIDED ON AN “AS-IS”, “AS AVAILABLE” BASIS. TO THE MAXIMUM EXTENT PERMITTED BY APPLICABLE LAW, WORLD MONEY PAY EXPRESSLY DISCLAIMS ANY IMPLIED WARRANTIES AND CONDITIONS, INCLUDING ANY IMPLIED WARRANTIES OR CONDITIONS OF MERCHANTABILITY, FITNESS FOR A PARTICULAR PURPOSE AND NON-INFRINGEMENT, AS WELL AS ANY WARRANTIES THAT THE SERVICES PROVIDED BY World Money Pay OR THAT THE OPERATION OF THE SERVICES WILL BE INTERRUPTION OR ERROR FREE.

7.2. LIMITATIONS OF LIABILITY

NOTWITHSTANDING ANYTHING TO THE CONTRARY CONTAINED HEREIN, WORLD MONEY PAY, ITS CLIENTS, AGENTS AND LICENSORS, SHALL NOT, UNDER ANY CIRCUMSTANCES, BE LIABLE, TO THE EXTENT PERMITTED BY APPLICABLE LAW, TO CLIENT FOR CONSEQUENTIAL, INCIDENTAL, SPECIAL OR EXEMPLARY DAMAGES, EVEN IF WORLD MONEY PAY HAS BEEN APPRISED OF THE LIKELIHOOD OF SUCH DAMAGES OCCURRING. EXCEPT AS REQUIRED  BY LAW, IN NO EVENT SHALL WORLD MONEY PAY’S LIABILITY (WHETHER BASED ON AN ACTION OR CLAIM IN CONTRACT, TORT OR OTHERWISE) TO THE CLIENT, OR ANY THIRD PARTY, IN ANY WAY CONNECTED WITH OR ARISING OUT OF THIS AGREEMENT EXCEED THE FEES ACTUALLY PAID TO WORLD MONEY PAY DURING THE THREE (3) MONTHS PRIOR TO THE EVENT GIVING RISE TO LIABILITY.

7.3. World Money Pay Offset Right

World Money Pay may offset from your Account an amount of Currency Exchange Dollars equivalent to any amounts for which you or any of your Affiliates are liable to World Money Pay hereunder or otherwise.

7.4. Force Majeure

World Money Pay shall use its’ commercially reasonable efforts to perform its obligations hereunder, however, World Money Pay, its Affiliates, agents or licensors shall not be liable for any loss resulting from the activities of Client, nor from any erroneous statements or errors in transmission, nor for any loss resulting from any delay, interruption or failure to perform hereunder due to any circumstances beyond World Money Pay’s reasonable control including, without limitation, acts of God, fire, explosion, earthquake, riot, terrorism, war, sabotage, accident, embargo, storms, strikes, lockouts, any interruption, failure or defects in Internet, telephone, or other interconnect services or in electronic or mechanical equipment. World Money Pay’s obligations hereunder shall be suspended during any of the foregoing circumstances, which suspension shall not be a cause for termination of this agreement by Client.

8. General.

8.1. Notices

Any notice, demand, request or other communication required or permitted to be given under this Agreement shall be in writing and delivered personally, or sent by prepaid registered mail, return receipt requested (i) to World Money Pay at the postal address provided therefore on the Site; to Client at the address provided therefore upon registration with the Site; or to such other address as either party may have previously indicated to the other in writing in accordance with the foregoing. Any such notice, request, demand or communication shall be deemed to have been received on the day it was delivered personally, on the tenth (10th) day following mailing, unless there is a disruption of any kind of postal service.

8.2. Independent Contractor

Neither party has any right to create any obligations on the part of the other party, without the other’s prior written consent. Nothing in this Agreement or the course of dealing of the parties shall be construed to constitute the parties hereto as partners, joint ventures or as agents or employees of one another or as authorizing either party to obligate the other in any manner. Client shall not (1) bind World Money Pay to any contract or agreement, (2) incur any obligation on behalf of World Money Pay, (3) release, assign or transfer any agreement, claim, security or any other asset of World Money Pay, (4) borrow or lend any money in the name of World Money Pay, or (5) submit to any claim or liability related to the Services or allow judgment to be taken or confessed against World Money Pay. Client, being an independent contractor, shall not receive as compensation or be reimbursed for any of the following: (i) work materials that Client may use in performing actions hereunder, (ii) business facilities, telephone, automobile or any other equipment, (iii) any Business employee benefit, (iv) reimbursement for any other cost or expense incurred by Client in its promotion of the Services hereunder.

8.3. On-Line or Written Formation of Contract

By acceptance of the terms hereof on-line by Client or by execution of a written acceptance of the terms hereof by Client, this Agreement together with any supplemental agreements and appendixes constitute the entire validly legally binding agreement between the parties pertaining to the subject matter contained in it and supersedes all prior and contemporaneous agreements, representations and understandings of the parties. No waiver of any of the provisions in this Agreement shall be deemed or shall constitute a waiver of any other provision whether or not similar, nor shall any waiver constitute a continuing waiver. No waiver shall be binding unless executed in writing by the party making the waiver.

8.4. Amendments to this Agreement

From time to time World Money Pay will post amendments or revisions to this Agreement including, without limitation, amendments to Fees, on the Site. World Money Pay will provide notice of these amendments or revisions to you through the Site. If the amendment or revision is required in order for World Money Pay and the Services to remain in compliance with applicable laws or payment processor regulations, then the amendment or revision shall take effect as of when it is posted to the Site. If, on the other hand, the amendment or revision is not required under law or by a payment processor of World Money Pay, and Client does not close its’ Account within thirty (30) days of notice on the Site of the amendment or revision, then the Client shall be deemed to have accepted the amendment or revision. Other than as provided in this section, this Agreement may not be amended except by express consent of both parties through the Site or by such other means as World Money Pay may reasonably prescribe.

8.5. Assignment

No Client or any of its’ successors may assign this Agreement, or any rights hereunder, directly or by operation of law, without the prior written consent of World Money Pay which consent may be withheld for any reason at World Money Pay’s sole discretion. World Money Pay reserves the right to perform some or all of the Services hereunder by way of its Affiliates.

8.6. Successors

This Agreement and the provisions hereof shall endure to the  benefit of, and be binding upon, the Parties and their respective successors and permitted assigns. Upon the death of a Client, World Money Pay retains the right to deem all World Money Pay Currency Exchange of such Client to have been redeemed at the time of their death and remit payment for such amount to the estate of the deceased Client. In the event of any ambiguity as to title in an Account upon the death of its owner, World Money Pay retains the right to suspend activity in the Account pending World Money Pay and its legal counsel being satisfied that the rightful heirs are entitled to the amounts held therein. Client, in order for the above Successor provision to be binding, is required to have a signed Beneficiary Form provided to World Money Pay. Said Form is available for download in the Client’s Account.

8.7. Dormant Accounts

In the event that a Client does not access their Account for 18 (eighteen) months, World Money Pay will suspend activity in the Account. Client is required to login at least once every 9 (nine) months in order to keep their Account status as Active. In such circumstances, World Money Pay may also, at its sole discretion, deem all World Money Pay Dollars in the account to have been redeemed, less applicable Fees and monthly maintenance charges.

8.8. Missing Clients

If, for whatever reason, World Money Pay is unable to contact a Client then Client may lose their rights to any World Money Pay currency exchange in their Account, subject to applicable Fees and monthly maintenance charges for so long as World Money Pay operates the Services. It is a requirement of Account status that phone numbers and addresses be current at all times; any Account discovered to have unreachable, incorrect or outdated information will be Suspended. The Client, upon contacting World Money Pay, may have their Account activated again upon submission of current and correct contact information.

8.9. Enforcement

The Client shall be liable for and shall indemnify and reimburse World Money Pay for any and all reasonable attorneys’ fees and other costs and expenses paid or incurred by the World Money Pay in the enforcement of this Agreement, or in collecting any amounts due from Client hereunder, or resulting from any breach of any of the terms or conditions of this Agreement.

8.10. Electronic or Paper Acceptance

By acceptance of the terms hereof on-line by Client or by execution of a written acceptance of the terms hereof by Client, this Agreement together with any supplemental agreements and appendixes constitute the entire validly legally binding agreement between the parties pertaining to the subject matter contained in it and supersedes all prior and contemporaneous agreements, representations and understandings of the parties. No waiver of any of the provisions in this Agreement shall be deemed or shall constitute, a waiver of any other provision, whether or not similar, nor shall any waiver constitute a continuing waiver. No waiver shall be binding unless executed in writing by the party making the waiver.

8.11. Remedies

All remedies of either party hereunder are cumulative and may be exercised concurrently or separately. The exercise of any one remedy shall not be deemed to be an election of such remedy and shall not preclude the exercise of any other remedy. No failure on the part of either party to exercise and no delay in exercising any right or remedy hereunder shall operate as a waiver of such right or remedy.

8.12. Severability

If any provision of this Agreement is held invalid or unenforceable by any court of final jurisdiction, it is the intent of the parties that all other provisions of this Agreement be construed to remain fully valid, enforceable and binding on the parties.

8.13. Governing Law and Choice of Forum

To the extent permitted by Law, this Agreement shall be deemed to have been formed in the Province of Ontario, Canada. This Agreement shall be deemed to be governed and enforced in accordance with the laws of the Province of Ontario whose courts shall have exclusive jurisdiction over disputes arising hereunder. The parties hereto agree that this agreement is drafted and executed in the English language. Les parties aux présentes s’entendent pour que la présente convention soit rédigée en langue anglaise.

8.14. Whole Agreement

References to “this Agreement” include any fees, schedules, supplementary agreements, addendum, appendixes and amendments and any other agreements, schedules appendixes and amendments promulgated by the World Money Pay and furnished to Client from time to time. This Agreement replaces any earlier versions hereof appearing on the Site or otherwise.

9. Interpretation

For the purposes of this Agreement, the following capitalized terms shall have the meanings indicated below:

9.1. “Account”

means a unique account established by us through which you will access the Services. The Account is not a bank account, it is uninsured and non-interest bearing. The Account constitutes the representation of your entitlement to World Money Pay Dollars, such as it may be from time to time;

9.2.“Affiliate”

means, in relation to a Person, another Person that directly or indirectly owns or controls, is owned or controlled by, or is under common ownership or common control with the Person, or a Person’s principal partners, shareholders, or owners of some other ownership interest.

9.3. “World Money Pay Dollar”

means an individual unit of Currency maintained in the Account of each Client and that can be subject to Transactions.  Each World Money Dollar is pegged to an individual Real Currency amount as posted on the Account information portal in the Site;

9.4. “Customer”

is a Person who wishes to purchase a Product from a Business and pay for such Product by way of the TPP Services;

9.5. “Deposit  Account”

means  an  account  that  maintains  a  third  party  bank  or financial institution to which, or from which, you wish to make payments into the Account.  A Deposit Account may be, for example, a bank account, a credit card account or a Prepaid Debit Card account;

9.6. “Direct  Debit”

means a withdrawal or deposit directly from or to your Deposit Account.  If you  are in the United States, a Direct Debit  means an automated clearing house (“ACH”) Transaction.  If you are in Canada, Direct Debit means an electronic funds transfer (“EFT”) Transaction, as defined by the Canadian Payments Association.  If you are in a jurisdiction where the Euro is the national currency or elsewhere, but not in the United States or Canada, then Direct Debit means  the  Single Euro Payments Area (“SEPA”) Direct Debit scheme or an equivalent local method of debiting or depositing  funds  directly from or to your Deposit Account;

9.7. “E-Wallet Service”

means the service of World Money Pay supplying the use of an E-Wallet as part of the Account;

9.8. “E-Wallet”

means a Currency  wallet  hosted and operated by World Money Pay, the contents of which are only foreign exchange dollars.  The E-Wallet can be loaded with  balances of Real Currency from various sources depending on your geographic  location as well as the Rules.  The E-Wallet can also be debited on your instructions by (i) Transactions transferring World Money Pay Dollars to other Members; (ii) Transactions transferring World Money Pay Dollars to your Prepaid Debit Card; or (iii) Transactions transferring World Money Pay from the E-Wallet to a Real Currency destination, such as a Deposit Account;

9.9. “Fees”

mean those amounts for which Clients are liable to pay in consideration of the Services, including, without limitation, Transactions

9.10. “Intellectual  Property  Rights”

means  all  patent  rights,  copyright  rights,  mask work  rights,  moral  rights,  rights  of  publicity,  trademark,  trade  dress  and  service mark rights, goodwill, trade secret rights and other intellectual property rights as may  now  exist  or  hereafter  come  into  existence,  and  all  applications  therefore and registrations, renewals and extensions thereof, under the laws of any state, country, territory or other jurisdiction;

9.11. “Laws”

shall mean laws, statutes, codes, ordinances, orders, decrees, rules,

regulations, and municipal by laws, whether domestic, or foreign, all judgments,

orders, writs, injunctions, decisions, rulings, decrees, and awards of any

government authority having jurisdiction;

9.12. “Rules”

mean any and all rules and regulations of payment networks and

regulators, such as credit card issuing networks, national payment associations

or clearinghouses;

9.13. “Person”

is to be broadly interpreted and includes an individual, a corporation, a partnership, a trust, an unincorporated organization, the government of a country or any political subdivision thereof, or any agency or department of any such government, and the executors, administrators or other legal representatives of an individual in such capacity;

9.14. “Prepaid Debit Card Cardholder Agreement”

means an agreement between you and the issuing bank of the Prepaid Debit Card pursuant to which you are granted the right to use the Prepaid Debit Card. World Money Pay is not a party to the Prepaid Debit Card Cardholder Agreement;

9.15. “Prepaid Debit Card Service”

means the service of selling you a branded prepaid debit card that is issued by an issuing bank in Europe pursuant to a Prepaid Debit Card Cardholder Agreement. The Prepaid Debit Card is also referred to as an “International Debit Card” which includes features described more fully on the Site and in the respective Prepaid Debit Card Cardholder Agreements;

9.16. “Product”

means any product or service for sale by Business for which

Business wishes to receive payment in the form of World Money Pay Dollars;

9.17. “Prohibited Activities”

mean the purchase, sale or any assistance in the operation or sale of any of the following: Pornography and Adult Content, Fireworks or Pyrotechnic Devices or Supplies, Alcoholic Beverages, Tobacco Products, Smoking Mixtures or Tobacco Substitutes, Drug Paraphernalia, Live Animals, Personal Information, Degrees or Diplomas, Online Computer Repair Services, Radar and Laser Detectors and Jammers, Recalled Products, Human Body Parts, Fluids, and Remains, Adult subscription services or chat, Any pornography (pictures, videos, DVDs, magazines), Firearms, Ammunition, High Capacity Magazines, Tasers, Stun, Air Paint Guns, Weapons, Swords, Knives, Dating Sites, Find-a-Mate Sites, and Similar Sites, Prescription Drugs or Devices, Controlled Substances, Unapproved Drugs, Unapproved Medical Devices, Hazardous Materials, Combustibles, Corrosives, Payment Processors, Any aggregation type services, Corporation Formation Services or Bank Account Establishment Services, Sites That Promote Hatred, Racism or Religious Persecution, Services Using Credit Card Transactions as Deposits or Credits, Gambling, Lotteries, Online Casinos, Any product or service enabling consumers to circumvent locks, programming codes or security features, or to gain access to features or services for which they have not expressly paid, Sites that promote the sale or distribution of any of the foregoing products or services;

9.18. “Real Currency”

means a currency issued by a sovereign country, such as, for

example, United States Dollars or Euros.

9.19. “Services” means: (i) E-Wallet Services; (ii) Prepaid Debit Card; (iii) Third Party Payment Processing or TPP Services; and (iv) such other services as may be

available from World Money Pay through the Site from time to time;

9.20. “Site”

means any reference to the Site which shall include both the website on

which this Agreement is posted by World Money Pay as well as other interfaces

through which you may use the Services, such as your correspondence by e-

mail or SMS with World Money Pay;

9.21. “ Third Party Payment Processing ” or “TPP Services”

are available only for Members that are also Businesses and consist of World Money Pay acting as the Business’s agent in receipt of Transaction funds from its actual or proposed Customers;

9.22. “Transaction”

means any actual or attempted transaction whereby a Member

wishes to credit or debit their Account for any amount of World Money Pay Dollars

whether by transfer to or from another Member or by transfer of real currency to

or from the Account or transfer between E-Wallet on the one hand and Prepaid

Debit Card on the other hand; and

9.23. “Virtual Currency”

means a medium of exchange that operates like a Real Currency in some environments, but does not have all the attributes of real currency. In particular, virtual currency does not have legal tender status in any jurisdiction. World Money Pay Dollars are a Virtual Currency.

9.24. Accessing the Sites and Account Security

We reserve the right to withdraw or amend the Sites, and any service or material we provide on the Sites, in our sole discretion without notice. We will not be liable if for any reason all or any part of the Sites are unavailable at any time or for any period. From time to time, we may restrict access to some parts of the Sites, or the entire Sites, to users, including registered users. You are responsible for making all arrangements necessary for you to have access to the Sites.

To access the Sites or some of the resources it offers, you may be asked to provide certain registration details or other information. It is a condition of your use of the Sites that all the information you provide on the Sites is correct, current and complete. You agree that all information you provide to us through the Sites or otherwise, including but not limited to the use of any interactive features on the Sites, is governed by our Privacy Statement, and you consent to all actions we take with respect to your information consistent with our Privacy Statement.

If you choose, or are provided with, a user name, password or any other piece of information as part of our security procedures, you must treat such information as confidential, and you must not disclose it to any other person or entity. You also acknowledge that your account is personal to you and agree not to provide any other person with access to the Sites or portions of it using your user name, password or other security information. You agree to notify us immediately of any unauthorized access to or use of your user name or password or any other breach of security. You also agree to ensure that you exit from your account at the end of each session. You should use particular caution when accessing your account from a public or shared computer so that others are not able to view or record your password or other personal information.

currency-exchange-toronto

Canada sends over $30 billion in remittances worldwide every year.

Country Rank volume percentage of Total Remittances Sent from Canada
China 1 $5,387,225,438 17%
France 4 $1,685,755,792 5%
Germany 8 $1,052,950,815 3%
India 2 $3,739,767,801 12%
Italy 5 $1,393,745,585 4%
Lebanon 7 $1,108,807,017 3%
Philippines 3 $3,080,379,015 10%
United Kingdom 10 $739,213,877 2%
United States 9 $860,574,646 3%
Vietnam 6 $1,238,597,075 4%
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Online Currency Exchange Canada

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)

Currency Exchange Toronto, Mississauga, Oakville