Frequently Asked Questions

General Information

What is banpay?


banpay is a single-dashboard multi-currency account for Canadian businesses looking to make global transactions. You get seamless access to your accounts and competitive exchange rates all with a single dashboard. banpay helps our customers take control of their financial resources with digital tools available anytime, anywhere. Our unrivaled service and best-in-class global payment solutions are led by a multidisciplinary, customer-centric team ready to serve you!

Finances aren’t easy - banking with banpay should be

Why banpay?


banpay offers an intuitive platform that is more affordable, and faster than traditional banks.

Within minutes, you can be onboarded, and use banpay to hold, send or receive payments in over 40 countries and counting. Convert the world’s prominent currencies using a single account including CAD, USD, MEX, EUR, GBP, HKD and more.

We look after the payment institutions, regulators, and trade finance organizations, allowing your business to focus on its core operations.

Opening an Account

What will I need to apply for an account?


If you're interested in any of our services, feel free to leave your contact info in the Get Started portion of our website. We will not spam your email and we'll only contact you to open your account.

You’ll need:

  1. Proof of identity
  2. Documents confirming the company’s legal existence in Canada that show the company’s legal name, address and business registration number.
    1. Corporations can provide any of the following:
      • certificate of incorporation
      • certificate of corporate status
      • annual report
      • published annual report signed by an audit firm
      • letter or notice of assessment from a municipal, provincial, territorial or federal government
    2. Not a corporation? You can provide any of the following:
      • a partnership agreement;
      • articles of association;
      • any other similar record that confirms the existence of the entity;
      • published annual report signed by an audit firm;
      • letter or notice of assessment from a municipal, provincial, territorial or federal government.
  3. Documents identifying the company’s beneficial owners

Who can open an account?


Canadian Corporations and Partnerships can open an account with banpay.

Can I open a banpay account if I’m not physically in Canada?


Yes! We're proud to support Canadian companies from all corners of the globe.

Security & Privacy

Security & Privacy


Protecting your information is our top priority! We take information security very seriously, and all the details you provide in your application will be kept strictly confidential and secure. We'll use this information to verify your business and keep it safe from any fraudulent activity.

To link your bank account with us and ensure top-notch protection, we partner with reputable vendors. All your information is encrypted, so you can rest easy knowing that your data is in safe hands.

Where are my funds kept?


Your funds are in good hands with us! We hold all funds in Tier 1 Canadian Financial Institutions.

Are my funds safe?


Yes! We safeguard our end-user’s funds, according to the Bank of Canada’s expectations, so that in the event that banpay becomes insolvent, your funds are protected. That means that your funds are held in a trust account, solely for our end users, separate from our own funds and that your money is available to you whenever you need it. So in the case of insolvency, our end-users would be paid before any other creditors.

banpay has no rights over your funds beyond what was specified in our Terms and Conditions.

How we are regulated


banpay is regulated by FINTRAC and is registered as a Money Services Business, registration number M21345132.


What does banpay cost?


banpay charges our business customers a monthly fee starting at $16 CAD to ensure that you get access to our top-notch services. Please contact us for more information about pricing for your company.

Need more Answers?

If you have other questions, please feel free to contact us at [email protected].

banpay bg

Contact us


[email protected]


535 Yates St, Suite 311
Victoria, BC V8W 2Z6

BanPAY(CA) Ltd. is a licenced MSB regulated by FINTRAC under # M21345132.
banpay is currently not available to businesses in Quebec.

Terms and conditions

Privacy policy

All rights reserved. banpay .