Terms and Conditions

1. About Teto Bank and Legal Entity

Teto Bank is the trade name of TETO FINANCE INC. / FINANCIÈRE TETO INC., a company incorporated in the Province of British Columbia, Canada.

TETO FINANCE INC. operates as a Money Services Business (MSB) registered with the Financial Transactions and Reports Analysis Centre of Canada (FINTRAC) under registration number M23533267. The company conducts its activities in accordance with the Proceeds of Crime (Money Laundering) and Terrorist Financing Act (PCMLTFA) and other applicable Canadian regulations. For certain activities, Teto Bank also acts as a Payment Service Provider (PSP) within the regulatory framework of the Bank of Canada.

Teto Bank operates as a financial technology and payment services platform, not as a traditional deposit-taking bank. References to “we”, “us” or “our” in these Terms mean TETO FINANCE INC. / FINANCIÈRE TETO INC., and references to “you” or “your” mean the customer using our products and services.

2. Acceptance of Terms

By creating an account, completing onboarding, ordering or activating a card, accessing our application or website, or using any Teto Bank service, you confirm that:

• You have read, understood and agree to these Terms and Conditions;
• You are legally capable of entering into a binding agreement under the laws of your country of residence;
• You will comply with all applicable laws and regulations when using Teto Bank products and services.

If you do not agree to these Terms, you must not use Teto Bank services.

3. Eligibility and Restricted Countries

Teto Bank services are intended only for individuals and businesses that meet our eligibility criteria and can be onboarded in accordance with applicable regulatory and risk requirements.

You are not permitted to use Teto Bank services if:

• You are located in, resident in, or a citizen of a country or territory subject to comprehensive sanctions; or
• You are listed on any applicable government, United Nations, European Union, United States, United Kingdom or other relevant sanctions or watch lists; or
• You are using Teto Bank services on behalf of such a sanctioned person or entity.

Without limiting the generality of the above, Teto Bank does not onboard or provide services to persons or entities located in or ordinarily resident in the following countries or regions:

Iran, Syria, North Korea, Cuba, Crimea (Autonomous Republic of Crimea and the city of Sevastopol), Donetsk and Luhansk regions of Ukraine , as well as any other jurisdiction subject to comprehensive sanctions under Canadian, United Nations, United States, United Kingdom or European Union sanctions regimes.

Teto Bank may also, at its sole discretion, restrict, suspend or terminate access for customers from other high-risk jurisdictions or sectors, even if not formally sanctioned, where required by law or in line with our internal risk policies.

4. Services and Product Description

Teto Bank provides a range of payment and financial technology services, including but not limited to:

• Virtual and physical prepaid cards for everyday spending, online purchases and international use;
• Payment services, including processing of card transactions and related functionalities;
• Money remittance, foreign exchange dealing and other services within the scope of its MSB registration;
• Additional products such as global transfers, savings tools, teen-focused offerings, credit cards and low-interest financing solutions, which may be introduced over time.

Certain features described in our roadmap or marketing materials may not yet be available in your jurisdiction. Product availability is always subject to regulatory approvals, partner arrangements, risk assessments and our internal policies.

5. No Deposit-Taking Activity and Partner Arrangements

Teto Bank is not a chartered bank and does not accept deposits in its own name as a deposit-taking financial institution. Balances and funds associated with Teto Bank cards and payment services may be held in safeguarded or pooled accounts with regulated issuing or banking partners in accordance with applicable regulations and network rules.

Teto Bank does not provide deposit insurance. Any protection for your funds is defined by the arrangements with our partners and the applicable legal framework and is described in the product-specific terms made available to you during onboarding.

6. KYC, AML and Compliance Obligations

As a regulated MSB and PSP, Teto Bank is required to implement a robust framework for Anti-Money Laundering (AML) and Countering the Financing of Terrorism (CFT), as well as to conduct Know Your Customer (KYC) checks.

You agree to:

• Provide accurate, complete and up-to-date information during onboarding and throughout the relationship;
• Promptly update your information if it changes;
• Provide additional documents or explanations when requested in order to comply with AML/CFT and KYC obligations;
• Allow Teto Bank to perform ongoing monitoring of your account and transactions.

Teto Bank relies on Sumsub and other specialised third-party providers to perform identity verification and certain compliance checks. These providers act in accordance with our instructions and applicable data protection laws. More details are set out in our Privacy Policy.

7. Prohibited Use

You must not use Teto Bank services:

• For any unlawful purpose or in violation of any applicable law or regulation;
• For activities related to money laundering, terrorist financing, fraud, sanctions evasion or other financial crime;
• In connection with the sale or purchase of illegal goods or services;
• For abusive, misleading or deceptive practices, including attempts to bypass our controls;
• On behalf of a third party where such use would violate these Terms, applicable laws or our internal policies.

Teto Bank reserves the right to decline, block, reverse or report any transaction that appears suspicious, violates these Terms or may expose us or others to risk.

8. Fees and Charges

Teto Bank may charge fees for certain services, including card issuance, maintenance, transactions, currency conversion and other features. The applicable fees are communicated to you through our website, application or specific product disclosures.

We may change our fees from time to time. Changes will be communicated in accordance with Section 14 (Changes to Terms). If you continue to use the services after the effective date of the change, you are deemed to have accepted the updated fees.

9. Cards, Security and Your Responsibilities

You are responsible for keeping your card, account credentials, PINs, passwords and authentication devices safe and confidential. If you suspect any loss, theft or unauthorised use, you must notify us without delay using the contact information provided on our website or in the application.

Subject to applicable law and network rules, your liability for unauthorised transactions may be limited if you promptly notify us and have not acted fraudulently or with gross negligence. Additional details may be provided in product-specific terms governing your card.

10. Data Protection and Privacy

Teto Bank is committed to protecting your personal data and handling it in a transparent and secure manner. Our collection, use, storage and sharing of personal data are governed by our Privacy & Data Protection Policy, which forms an integral part of these Terms.

By using Teto Bank services, you acknowledge that we may process your data as described in the Privacy Policy, including sharing it with trusted third-party providers such as Sumsub for identity verification, card issuers, payment networks and regulators, where required or permitted by law.

11. Suspension and Termination

We may suspend, restrict or terminate your access to Teto Bank services at any time, with or without notice, if:

• We reasonably believe you have breached these Terms or any applicable law;
• We suspect fraud, money laundering, terrorist financing or other illicit activity;
• We are required to do so by law, a court order, regulator or payment network;
• We decide, in our sole discretion, to discontinue the services in your jurisdiction or generally.

You may terminate your relationship with Teto Bank by closing your account, subject to the settlement of any outstanding obligations and applicable legal requirements.

12. Disclaimers and Limitation of Liability

To the fullest extent permitted by law, Teto Bank provides its services on an “as is” and “as available” basis and does not guarantee uninterrupted, error-free or fully secure operation at all times.

Teto Bank is not liable for:

• Indirect, consequential, incidental or punitive damages, including loss of profits, business or data;
• Any loss arising from events outside our reasonable control, such as network failures, system outages, cyber incidents affecting third parties, or regulatory actions;
• Any actions or omissions of third-party service providers, card networks, partner banks or merchants.

Nothing in these Terms excludes or limits liability where such exclusion or limitation is prohibited by law.

13. Governing Law and Jurisdiction

These Terms and any non-contractual obligations relating to them are governed by the laws of the Province of British Columbia and the federal laws of Canada applicable therein, without regard to conflict of law principles.

Subject to any mandatory provisions of applicable law, you agree that any dispute arising out of or in connection with these Terms shall be submitted to the competent courts located in British Columbia, Canada.

14. Changes to These Terms

We may update or modify these Terms from time to time to reflect changes in our services, regulatory requirements, technology or business needs. When we make material changes, we will provide notice through our website, application or other appropriate channels and indicate the effective date of the revised Terms.

By continuing to use Teto Bank services after the effective date of any changes, you agree to be bound by the updated Terms.

15. Contact Information

If you have any questions about these Terms or wish to contact us, you can reach us at:

• Company Name: TETO FINANCE INC. / FINANCIÈRE TETO INC.
• Trade Name: Teto Bank
• Address: 5811 Cooney Road, Suite #305 – South Tower, Richmond, BC, Canada, V6X 3M1
• Phone: +1 (778) 402-5007
• Email: info@tetobank.com

This Terms and Conditions page is provided for information purposes and does not constitute legal advice. You should consult your own legal counsel for advice specific to your situation.