Terms & Conditions

Terms & Conditions

Last Updated: [2025-12-14]

These Terms & Conditions (“Terms”) govern your use of GlobalEpay Limited’s website, mobile applications, services and platform (collectively, the “Services”). GlobalEpay Limited (“GlobalEpay”, “we”, “us” or “our”) is a Canadian Money Services Business (MSB) located at 121 Yonge Street, Toronto, ON M5C 1W4, Canada. By using the Services you agree to be bound by these Terms and by our Privacy Policy.

If you do not agree to these Terms, do not use our Services.

1. Definitions
  • User / you / your: Any person, student, payer (parent/guardian/agent), institution, or entity using the Services
  • Payer: The person/entity that provides funds to GlobalEpay to make a payment on behalf of a student.
  • Student / Beneficiary: Person for whom payment is intended and/or whose university receives the funds.
  • University / Institution / Recipient: The Canadian educational institution that receives funds via GlobalEpay.
  • KYC: Know-Your-Customer / identity verification procedures.
  • FINTRAC / PCMLTFA: Financial Transactions and Reports Analysis Centre of Canada; Proceeds of Crime (Money Laundering) and Terrorist Financing Act.
2. Scope of Services

  1. GlobalEpay provides a platform to collect tuition and related fees from international payers and remit those funds to verified Canadian universities and colleges. Services may include: payment collection, currency conversion, settlement, reconciliation, tracking, and refund facilitation (where applicable).
  2. GlobalEpay does not provide banking services, lending, or investment advice. Payment collection, transfer timing, and settlement are subject to banking systems, foreign exchange providers, and the payee institution’s processes.

3. Authorization & Account Creation
  1. To use the Services you must provide accurate, current and complete information and create an account where required. You authorize GlobalEpay to use the information provided for KYC, AML screening, sanctions checks, transaction processing, and regulatory reporting.
  2. You represent that you are legally permitted to enter into these Terms and that funds provided are not derived from unlawful activities.
4. KYC, AML, Sanctions & Compliance
  1. GlobalEpay is a FINTRAC-registered MSB and must comply with Canadian AML/ATF law, including customer identification and record-keeping, transaction monitoring, and reporting obligations. GlobalEpay may require identity documents, proof of address, source of funds, and additional information before processing payments. FINTRAC+1
  2. GlobalEpay may screen Users against sanctions and PEP (politically exposed persons) lists, and may refuse or delay transactions that fail screening or that present elevated risk.
  3. If a transaction is suspicious under applicable law, GlobalEpay will file a Suspicious Transaction Report (STR) or other required reports with FINTRAC and may freeze, retain, or refuse to return funds as required by law. You acknowledge GlobalEpay’s legal reporting obligations and consent to such actions. FINTRAC
  4. You agree that GlobalEpay may retain transaction and identification records for the period required by law and guidance (including FINTRAC record-keeping requirements). At a minimum, certain records will be retained for five (5) years or longer where required. FINTRAC
5. Fees, Exchange Rates & Payment Processing
  1. Fees and exchange rates applicable to a transaction will be disclosed to you before payment confirmation. By confirming the payment you accept the fees and exchange rate provided at the time.
  2. Processing times vary depending on currency, payment method, origin country and receiving institution; estimates are provided but non-binding (network or banking delays may increase timing). GlobalEpay is not responsible for delays caused by third-party banks or universities.
  3. You must ensure beneficiary/university details are accurate. GlobalEpay is not liable for payments lost or delayed due to incorrect beneficiary details provided by you.
6. Refunds & Cancellations
  1. Refunds are possible only where permitted by the receiving university’s policies and the originating payment method. Refunds, when approved, will ordinarily be returned to the original payment source in accordance with AML rules and GlobalEpay policy.
  2. GlobalEpay may require documentary proof and university confirmation prior to initiating a refund. Refund timelines are subject to banking and university processes.
  3. We reserve the right to deduct any fees, charges, and currency conversion costs from refunded amounts as permitted by law and disclosed in the fee schedule.
7. User Representations & Responsibilities

You represent and warrant that:

  • All information you provide is true, accurate, and complete.
  • You will promptly provide any additional documentation requested by GlobalEpay for KYC/AML purposes.
  • You will not use the Services for any illicit purpose.
  • If submitting information on behalf of another, you have authority to act for that person and have notified them of this Privacy Policy and these Terms.

Failure to comply may result in service suspension, fund holds, account termination, or legal reporting.

8. Data Protection & Privacy
  1. GlobalEpay processes personal information in accordance with its Privacy Policy and applicable Canadian privacy laws (including PIPEDA). By using the Services you consent to such processing. Privacy Commissioner Canada
  2. We implement technical and organizational measures to protect personal data, such as encryption, access controls and secure hosting. However, no system is perfectly secure. Report any suspected breach immediately.
9. Recordkeeping & Audits
  1. GlobalEpay maintains records necessary to meet regulatory obligations, including KYC files, transaction records, STRs, LCTRs, and audit logs. These records will be kept and made available to FINTRAC, law enforcement, or other competent authorities when required. FINTRAC+1
  2. GlobalEpay may periodically audit accounts and transactions for compliance; you must cooperate with reasonable audit requests.
10. Monitoring, Holds & Suspensions
  1. GlobalEpay may monitor transactions and user activity for compliance, sanctions, fraud, and suspicious behaviour. If a transaction is flagged, GlobalEpay may place a hold on funds, request additional documentation, or refuse processing.
  2. Holds may persist until GlobalEpay completes verification or receives sufficient information. We are not liable for losses resulting from lawful holds.
11. Intellectual Property

All content on the GlobalEpay platform (software, logos, text, graphics) is our property or licensed to us. You may not copy or reuse proprietary content except as expressly permitted.

12. Limitation of Liability
  1. To the maximum extent permitted by law, GlobalEpay’s liability for any claim related to the Services is limited to direct damages not exceeding the greater of (i) the fees actually paid to GlobalEpay in the 12 months preceding the claim, or (ii) CAD 5,000.
  2. GlobalEpay will not be liable for indirect, incidental, special, punitive or consequential damages, including lost profits, lost business opportunities, or damages caused by banks, networks or universities.
13. Indemnification

You agree to indemnify and hold GlobalEpay harmless from any loss, claim, damage, liability or expense (including reasonable legal fees) arising from your breach of these Terms, misuse of Services, or violation of law.

14. Termination & Account Closure
  1. GlobalEpay may suspend or terminate access to the Services where required for compliance, suspected wrongdoing, non-payment, or breach of these Terms.
  2. Upon termination GlobalEpay may retain records as required by law and will return or transfer funds only where legally permissible.
15. Changes to These Terms

GlobalEpay may modify these Terms at any time. Material changes will be communicated by email or via notice on the platform before they take effect. Continued use after notice constitutes acceptance.

16. Governing Law & Dispute Resolution

These Terms are governed by the laws of Canada and the Province of Ontario. Disputes will be resolved in Ontario courts unless otherwise agreed.

17. Notices & Contact

For support or to exercise legal rights (e.g., data access, correction), contact:

GlobalEpay Limited
121 Yonge Street
Toronto, ON M5C 1W4, Canada
Email: customerservice@globalepay.ca
Privacy: privacy@globalepay.ca

For regulatory queries: GlobalEpay is registered with FINTRAC as an MSB and complies with reporting and recordkeeping obligations. See FINTRAC guidance for reporting entities. FINTRAC+1:

18. Acknowledgement

By using the Services you acknowledge that you have read and accept these Terms, consent to required processing of your personal information for compliance purposes, and understand GlobalEpay’s rights and obligations as an MSB operating in Canada.

Key legal references (for your compliance pack / counsel review)
  • FINTRAC: Money Services Businesses — MSB obligations and registration. FINTRAC
  • Proceeds of Crime (Money Laundering) and Terrorist Financing Act (PCMLTFA) — recordkeeping, reporting, verification duties. Justice Laws Website
  • FINTRAC guidance: Compliance program requirements for reporting entities. FINTRAC
  • FINTRAC guidance: Record keeping for MSBs. FINTRAC
  • Office of the Privacy Commissioner (PIPEDA) — privacy principles and business obligations.