Terms & Conditions

1. Company Information

1.1. Omexi Pay Ltd (“Omexi” or the “Company”) is a corporation duly incorporated and existing under the laws of Canada, registered as a Money Services Business (MSB) with the Financial Transactions and Reports Analysis Centre of Canada (FINTRAC), authorised to provide foreign exchange dealing, funds transfer services, and payment account issuance.

Legal Name: Omexi Pay Ltd
MSB Registration Number: C100000572
Place of Incorporation: Canada
Registered Business Address: 300 Supertest Road, Unit 1, North York, Ontario, M3J2M2, Canada
Supervisory Authority: FINTRAC

1.2. Omexi operates in accordance with the Proceeds of Crime (Money Laundering) and Terrorist Financing Act (PCMLTFA), associated regulations, and other applicable provincial and federal legislation. These Terms govern the contractual relationship between Omexi and each individual or legal entity who accesses or uses the Services (as defined herein), whether directly or through an authorised representative.

2. Definitions

2.1. In these Terms, unless the context otherwise requires, the following terms shall have the meanings set out below. Defined terms may be used in the singular or plural form as the context requires.

Account: any payment account, including but not limited to virtual International Bank Account Numbers (vIBANs), established, maintained, or administered by Omexi in the name of the Client for the purpose of accessing or receiving the Services.
Applicable Law: all statutes, regulations, rules, directives, codes of practice, guidelines, notices, and other requirements of any governmental, regulatory or supervisory authority that are applicable to the Client or Omexi in any jurisdiction in connection with the provision, use or receipt of the Services.
Business Day: any day other than a Saturday, Sunday or public holiday in Ontario, Canada, on which commercial banks are open for general business.
Client: any individual or legal person who has been approved by Omexi, following completion of Omexi’s onboarding and verification procedures, to receive the Services pursuant to these Terms.
Compliance Programme: the internal compliance policies, procedures, risk assessments, and controls maintained by Omexi in accordance with the PCMLTFA and other Applicable Laws, including but not limited to policies relating to customer due diligence (CDD), recordkeeping, transaction monitoring, sanctions screening, and suspicious activity reporting.
Confidential Information: any information, in any form, disclosed by one party to the other party under or in connection with these Terms that is designated as confidential, or that reasonably should be understood to be confidential given the nature of the information and the circumstances of disclosure.
KYC (Know Your Customer): the verification process by which Omexi identifies and verifies the identity of its Clients and, where applicable, their beneficial owners or controlling persons, in accordance with its Compliance Programme and Applicable Law.
Personal Information: any information about an identifiable individual, as defined under PIPEDA, the EU GDPR, the UK GDPR, or other applicable data protection laws.
Privacy Policy: Omexi’s privacy policy as amended from time to time, which governs how Omexi collects, uses, processes, and stores Personal Information in the course of providing the Services.
Sanctions Laws: any applicable trade, economic, or financial sanctions, laws, regulations, embargoes, or restrictive measures imposed or administered by Canada, the United Nations, the European Union, the United States (including OFAC), the United Kingdom, or any other relevant jurisdiction.
Services: the payment services, foreign exchange dealing, funds transfer services, issuance of virtual accounts, and related services offered by Omexi to Clients under these Terms.
Suspicious Activity: any transaction, conduct, or attempted activity that may involve or be associated with money laundering, terrorist financing, fraud, sanctions evasion, or other criminal conduct.

3. Scope of Services and Fees

3.1. Omexi offers a range of non-custodial, fiat-based financial services to approved Clients, including:

3.1.1. the facilitation of outbound and inbound fiat currency payments via wire or other permitted transfer methods;
3.1.2. the issuance and administration of virtual International Bank Account Numbers (vIBANs) assigned to each Client;
3.1.3. foreign exchange services for supported fiat currency pairs at prevailing market rates or rates agreed in advance;
3.1.4. account access and transaction reporting tools via Omexi’s designated client interface or API; and
3.1.5. ancillary services that are necessary, incidental or desirable for the efficient provision of the foregoing.

3.2. Access to the Services is conditional upon completion of Omexi’s onboarding and verification procedures. Omexi may, at its sole discretion, refuse to provide or restrict access to any Service.

3.3. The Client shall access the Services via a secure portal, interface or platform provided by Omexi or its authorised service providers. All instructions submitted by the Client through such interface shall be deemed authorised by the Client and binding.

3.4. Fees and Charges

3.4.1. The Client agrees to pay Omexi the fees and charges applicable to the Services, as set out in the Fee Schedule provided to the Client.

3.4.2. Omexi may amend the Fee Schedule from time to time. Any proposed increase in fees shall be notified to the Client at least thirty (30) days prior to the effective date.

3.4.3. The Client acknowledges that intermediary banks or correspondent financial institutions may impose additional fees beyond Omexi’s control.

3.4.4. Omexi reserves the right to deduct fees from any funds held in the Client’s Account prior to executing any outgoing transaction.

3.4.5. All fees are exclusive of applicable taxes. The Client shall be responsible for payment of any such taxes associated with the Services.

4. Client Onboarding and Verification

4.1. Eligibility and Non-Solicitation Basis: Omexi provides its Services to Clients on a non-solicited basis. Only individuals and legal entities who submit an application and are approved shall be eligible to access the Services.

4.2. Application and Submission of Information: To apply for the Services, a prospective Client must complete the onboarding form and provide all information and supporting documentation requested, including:

4.2.1. proof of identity and address for natural persons;
4.2.2. incorporation documents, ownership structure, and authorised representatives for legal persons;
4.2.3. beneficial ownership declarations;
4.2.4. intended use of the Services and anticipated transaction volumes; and
4.2.5. any other information reasonably required for compliance with Applicable Law.

4.3. Verification and Due Diligence: Omexi shall conduct CDD and KYC checks on each Client. Enhanced due diligence (EDD) shall be applied to higher-risk categories, including PEPs, Clients in high-risk jurisdictions, complex ownership structures, and Clients with adverse media exposure.

4.4. Verification of Corporate Clients: For legal entities, Omexi shall require constitutional documents, identification of beneficial owners (25%+), board resolutions, good standing certificates, and corporate registry extracts.

4.5. Ongoing Monitoring: Omexi will monitor Client activity on a risk-sensitive basis and may conduct periodic reviews.

4.6. False or Misleading Information: If false information is provided, Omexi may suspend or terminate the Services with immediate effect and report to relevant authorities.

4.7. Right to Decline: Omexi retains full discretion to decline any application without obligation to provide a reason.

5. Use of Services and Client Obligations

5.1. Permitted Use: The Services are made available strictly for lawful purposes. The Client shall not engage in or facilitate any activity related to money laundering, terrorist financing, tax evasion, fraud, sanctions evasion, unauthorized cryptocurrency transactions, or offering financial services to third parties without authorization.

5.2. Client Responsibility for Credentials: The Client is solely responsible for the confidentiality and security of access credentials. Any activity undertaken through the Client’s account shall be deemed authorized.

5.3. Accuracy of Information: The Client warrants that all information provided is true, accurate, complete, and not misleading, and shall immediately notify Omexi of any changes.

5.4. Prohibited Jurisdictions: The Client agrees not to access the Services from sanctioned or prohibited jurisdictions.

5.5. Transaction Integrity: The Client shall ensure all funds originate from legitimate sources. Omexi reserves the right to request supporting documentation for any transaction.

5.6. Cooperation: The Client shall cooperate fully with any reasonable request by Omexi related to due diligence, verification, or compliance.

5.7. No Licence or Ownership Transfer: All intellectual property rights remain the exclusive property of Omexi. The Client is granted a limited, non-transferable, revocable right to access the Services.

6. Suspension, Termination and Account Closure

6.1. Suspension: Omexi may suspend Services where there is suspicion of unlawful activity, failure to provide required information, breach of Terms, regulatory instruction, or technical/security events.

6.2. Suspension shall not relieve the Client of its obligation to pay any accrued fees.

6.3. Termination by the Client: The Client may terminate with at least ten (10) Business Days’ written notice, subject to settlement of outstanding obligations.

6.4. Termination by Omexi: Omexi may terminate with thirty (30) days’ notice, or immediately in cases of insolvency, unlawful conduct, material breach, regulatory risk, or force majeure.

6.5. Consequences of Termination: All rights and licences cease; the Client must stop using Services; remaining funds are returned net of fees and deductions; records may be retained per applicable law.

6.6. Survival: Provisions on indemnification, limitation of liability, intellectual property, governing law, and dispute resolution survive termination.

7. Data Protection and Confidentiality

7.1. Omexi acts as data controller and processes personal data in accordance with PIPEDA, EU GDPR, and UK GDPR.

7.2. Personal data is collected and processed for identity verification, service provision, fraud prevention, regulatory compliance, system monitoring, and internal reporting.

7.3. Data may be shared with service providers, payment processors, regulatory authorities, professional advisers, and affiliated companies under appropriate safeguards.

7.4. Cross-border transfers are conducted with appropriate safeguards such as standard contractual clauses.

7.5. Both parties maintain strict confidentiality obligations regarding non-public information.

7.7. Data is retained only as long as necessary and protected by reasonable technical and organisational measures.

8. Fees and Charges

8.1. The Client agrees to pay all fees as specified in the Fee Schedule, which forms an integral part of these Terms.

8.2. Fees may include onboarding fees, transaction fees, currency conversion margins, maintenance fees, additional service fees, and third-party charges.

8.3. Fees shall be automatically deducted or invoiced monthly, payable within seven (7) calendar days.

8.4. Omexi may suspend Services in the event of non-payment.

8.5. Fee changes require thirty (30) days’ written notice. Continued use constitutes acceptance.

8.6. The Client is responsible for all applicable taxes.

9. Liability and Indemnity

9.1. No Warranty: Services are provided “as-is” and “as-available” without express or implied warranties.

9.2. Limitation of Liability: Total aggregate liability is limited to fees paid in the twelve (12) months preceding the event.

9.3. Omexi shall not be liable for indirect, consequential, incidental, special, or punitive damages, loss of profits, or losses from unauthorized third-party access or force majeure events.

9.4. Client Indemnity: The Client shall indemnify Omexi against claims arising from breach of Terms, fraudulent or unlawful acts, third-party claims, or intellectual property infringement.

9.5. Each Party shall take reasonable steps to mitigate losses.

9.6. Nothing excludes liability for death, personal injury caused by negligence, or fraud.

10. Intellectual Property Rights

10.1. All intellectual property in the Services remains the exclusive property of Omexi or its licensors.

10.2. The Client is granted a non-exclusive, non-transferable, revocable licence to use the Services for authorised purposes only.

10.3. The Client shall not copy, reverse engineer, modify, or create derivative works of the Services, or use Omexi’s trademarks without written consent.

10.4. Third-party intellectual property integrated into the Services remains the property of respective owners.

10.5. Any feedback provided by the Client may be used by Omexi without restriction or compensation.

11. Representations and Warranties

11.1. The Client represents that it has full legal capacity, provides accurate information, is not acting for undisclosed third parties, will not use Services for unlawful purposes, is not subject to sanctions, and has adequate internal controls.

11.2. Omexi represents that it is duly incorporated, has necessary regulatory permissions, will use reasonable care, and will comply with applicable legal requirements.

11.3. Except as expressly stated, Omexi disclaims all other warranties to the maximum extent permitted by law.

12. Force Majeure

12.1. Neither Party shall be liable for delays or failures caused by events beyond reasonable control, including acts of God, wars, government actions, power failures, or labour disputes.

12.2. The affected Party must promptly notify the other, mitigate effects, and resume performance as soon as practicable.

12.3. If a Force Majeure Event continues for more than thirty (30) consecutive days, either Party may terminate immediately on written notice.

13. Data Protection and Confidentiality

13.1. Each Party agrees to comply with all applicable data protection laws including PIPEDA, EU GDPR, and UK GDPR.

13.2. Omexi shall process personal data solely for providing Services, implement appropriate safeguards, ensure personnel confidentiality, and comply with cross-border transfer requirements.

13.3. The Client acknowledges Omexi’s Privacy Policy, incorporated by reference.

13.4. Each Party shall keep confidential all information disclosed by the other, using it solely for performing obligations under these Terms.

13.5. Confidentiality obligations do not apply to public information, previously known information, third-party disclosures, or legally required disclosures.

13.6. Confidentiality obligations survive termination for five (5) years.

14. Amendments and Notices

14.1. Omexi may amend these Terms at any time. Material changes require at least two (2) months’ advance notice. Immaterial changes may be published on the website.

14.2. Continued use after amendments constitutes acceptance. The Client may terminate before the effective date if it objects.

15. Supplemental Terms for specific services shall form an integral part of these Terms and prevail in case of conflict.

16. Notices shall be in writing via email or registered mail. Email notices are deemed received at time of transmission; postal notices on the second business day (fifth for international).

17. All notices and documents shall be in English.

18. Termination

18.1. The Client may terminate with at least ten (10) business days’ written notice.

18.2. Omexi may suspend or terminate immediately for breach, false information, suspected illegal activity, regulatory requirement, or sanctions exposure.

18.3. Omexi may terminate for convenience with thirty (30) calendar days’ notice.

18.4. Upon termination: the Client ceases all use; accrued fees become due; the Client provides final payment instructions; data may be retained per applicable law.

18.5. Sections on Intellectual Property, Representations, Data Protection, and Governing Law survive termination.

19. Governing Law and Dispute Resolution

19.1. These Terms are governed by the laws of the Province of Ontario and federal laws of Canada.

19.2. The courts of Ontario shall have exclusive jurisdiction.

19.3. Disputes shall first be attempted to be resolved amicably. If unresolved within thirty (30) days, either Party may refer to binding arbitration under the Arbitration Act, 1991 (Ontario).

19.4. Nothing prevents Omexi from seeking injunctive or interim relief to preserve rights or prevent irreparable harm.

19.5. All proceedings shall be conducted in English.