Frequently Asked Questions

Yes. Teto Finance Inc., operating under the trade name Teto Bank, is registered at the federal level in Canada as a Money Services Business (MSB) with FINTRAC (Financial Transactions and Reports Analysis Centre of Canada) under registration number M23533267. It operates in accordance with the Proceeds of Crime (Money Laundering) and Terrorist Financing Act (PCMLTFA) and related regulations. Teto Bank also acts as a Payment Service Provider (PSP) within the regulatory framework of the Bank of Canada for applicable services.

Teto Bank is primarily focused on customers who can be onboarded in accordance with Canadian regulations and applicable international standards. Availability may vary by jurisdiction and product type, and some countries and regions are restricted due to sanctions or regulatory constraints.

Teto Bank does not onboard or provide services to residents or entities located in certain sanctioned or high-risk jurisdictions, including but not limited to: Iran, Syria, North Korea, Cuba, Crimea, Donetsk, Luhansk and any other country or region subject to comprehensive sanctions under Canadian, United Nations, United States, United Kingdom or European Union sanctions regimes. Additional restrictions may apply and can change over time.

In its initial rollout, Teto Bank focuses on virtual and physical prepaid cards as the starting point of its product ecosystem. These cards are designed for everyday spending, online purchases, international travel and personal budgeting, with a digital-first experience.

Over time, the roadmap includes additional products such as smart credit cards, low-interest financing solutions and a broader “Teto Card” hub that connects payments, savings and budgeting tools.

Teto Bank applies a robust Know Your Customer (KYC) framework as a core pillar of its compliance and risk management. To perform KYC, Teto Bank relies on Sumsub, a leading global identity verification and compliance platform used by financial institutions and regulated platforms worldwide.

During onboarding, you may be asked to:

• Upload a valid government-issued ID document,
• Take a selfie to perform liveness and face match checks,
• Provide proof of address or additional information where required.

Sumsub conducts automated and risk-based checks and securely returns a verification outcome to Teto Bank. More details can be found in our KYC and Privacy Policy sections.

Teto Bank combines internal security controls with Sumsub’s secure infrastructure and other trusted service providers to protect your personal information and identity documents. Protection measures include:

• Encryption of data in transit and at rest,
• Storage in secure environments subject to regular security testing,
• Role-based access controls with “need-to-know” principles,
• Retention of data only for as long as required by law and our compliance obligations,
• Secure deletion or anonymisation according to documented policies.

For more information, please review our Privacy Policy.

Teto Bank operates as a financial technology and payment services platform rather than a traditional deposit-taking bank. Customer funds associated with cards and payment services may be held in pooled accounts or safeguarded arrangements with regulated issuing and banking partners, in line with applicable regulatory requirements and network rules.

Teto Bank itself does not provide deposit insurance and is not a member of the Canada Deposit Insurance Corporation (CDIC). Any protections that apply to funds are described in the product-specific terms provided to you during onboarding.

Yes. Teto Bank offers and plans to expand business and corporate solutions, including:

• Issuing cards for employees for business-related spend and travel,
• Streamlining payroll and benefits disbursement through Teto cards,
• Improving visibility and control over corporate expenses with structured reporting,
• Providing modern, digital-first payment experiences to teams and contractors.

Availability of specific business products may vary by jurisdiction and compliance profile.

You can reach Teto Bank using the following contact channels:

• Phone: +1 (778) 402-5007
• Email: info@tetobank.com
• Address: 5811 Cooney Road, Suite #305 – South Tower, Richmond, BC, Canada, V6X 3M1

Additional support options may be available through the in-app help center or web-based support tools as new features are launched.

The full Terms and Conditions and Privacy & Data Protection Policy are available on our website and in the application. We encourage you to read them carefully before using Teto Bank services, as they describe your rights, our obligations, and key information about compliance, risk and data protection.