1. Make sure you have the following information and items for Telpay to verify your business:
Financial Transactions and Reports Analysis Centre of Canada (FINTRAC) is a government organization that facilitates the detection and deterrence of money laundering and financing terrorist activities.
In consultation with FINTRAC, Telpay has been deemed as a Money Service Business (MSB). An MSB is a business that transfers funds from one individual or entity to another using an electronic funds transfer network.
Telpay registered as a Money Service Business (MSB) and as part of our FINTRAC regulatory obligations, all MSBs providing similar services in Canada are required to verify their client’s business, including its owners and directors. Therefore, any company that is applying for Telpay for Business payment service will need to complete and return a FINTRAC verification form before the application can be approved.
The information on the FINTRAC Information Record Form is very specific to FINTRAC. In order to finalize your Telpay application process, your completed FINTRAC Information Record Form must be emailed to email@example.com after you have been assigned a Telpay ACCESS number.
It is FINTRAC’s Know Your Customer regulatory requirement.
Any information collected and stored by Telpay is only used for the purpose it was collected and would only be shared with FINTRAC. Telpay’s customer information and data storage meet all PIPEDA (Personal Information Protection and Electronic Documents Act) regulations.
You have a couple of options available to you.
Option A: Digitally
Option B: Print and Scan
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