Terms and Conditions

MyNeoBank is a financial technology platform operated by MBK Finance Inc., a corporation incorporated under the laws of the Province of British Columbia, Canada (Incorporation No. BC1510600), with its registered address at 422 Richards Street, Unit 170, Vancouver, British Columbia V6B 2Z4, Canada.

MyNeoBank is structured to provide payment and related financial services to eligible customers directly where permitted under applicable laws and indirectly through partnerships with licensed and regulated financial institutions, money service businesses, payment service providers, virtual asset service providers, and safeguarding or settlement banks.

For the purposes of Canadian anti-money laundering and counter-terrorist financing legislation, MyNeoBank operates as, or in support of, a Money Services Business (MSB) registered with FINTRAC under MSB Registration Number C100000605. MyNeoBank maintains a risk-based compliance program in accordance with the PCMLTFA and associated regulations.

MyNeoBank is not a deposit-taking institution, does not accept deposits, and does not carry on business as a bank, trust company, or credit union. Funds processed through the Platform are held, safeguarded, or settled by authorized third-party financial institutions where required by law.

These Terms govern the legal relationship between you and MyNeoBank in connection with your access to and use of the Platform and Services. They apply to the submission, approval, operation, maintenance, suspension, and closure of Accounts; all transactions processed through the Platform; your access to software, APIs, dashboards, and documentation; and communications exchanged in relation to the Services.

These Terms operate together with MyNeoBank’s Privacy Policy, compliance disclosures, and additional policies, schedules, or appendices referenced in them.

Where you enter into a separate written or electronic agreement with MyNeoBank governing a specific product or commercial arrangement, that agreement applies in parallel with these Terms and prevails in the event of conflict for that specific Service.

Nothing in these Terms creates a partnership, joint venture, fiduciary relationship, agency, or trust relationship between you and MyNeoBank.

4.1 General Eligibility. Access to and use of the Services is limited to individuals and legal entities that satisfy all eligibility criteria established by MyNeoBank and applicable law. By applying for or maintaining an Account, you represent and warrant that you are at least 18 years old or of legal age in your jurisdiction, possess full legal capacity, are not prohibited from using financial or payment services, and will use the Services in compliance with applicable laws and these Terms.

4.2 Account Application and Registration Process. To access the Services, you must submit an application through the Platform and complete all required registration steps, including provision of personal, corporate, and contact information, ownership and control documentation, business activity disclosures, and acceptance of these Terms and applicable supplemental agreements.

4.3 Review, Approval, and Discretion. All applications are reviewed under MyNeoBank’s risk-based onboarding and compliance framework. Approval is not guaranteed. MyNeoBank may approve or decline any application, impose conditions or restrictions, or defer a decision pending additional due diligence.

4.4 One Account Policy. Unless expressly approved in writing by MyNeoBank, each individual or legal entity may maintain only one Account. Multiple accounts created to circumvent controls or compliance requirements are prohibited.

4.5 Ongoing Eligibility and Information Accuracy. You must ensure all information remains accurate, complete, and current, and promptly notify MyNeoBank of material changes including ownership, control, business model, geographic activity, or risk profile.

4.6 Geographic and Technical Restrictions. MyNeoBank may restrict or block access from certain jurisdictions, IP addresses, or technical environments where necessary to comply with legal, regulatory, or security requirements.

4.7 No Guarantee of Service Availability. Registration or prior approval does not create an ongoing entitlement to access the Services.

5.1 Regulatory Purpose. In order to comply with applicable AML, CTF, sanctions, and related regulatory obligations, MyNeoBank identifies, verifies, and monitors its customers on a risk-based and ongoing basis. Access to the Services is conditional upon successful completion and ongoing maintenance of identity and business verification requirements.

5.2 Customer Identification Requirements. You agree to provide all information and documentation reasonably required to verify your identity and eligibility, including government-issued ID, proof of address, incorporation records, ownership and control structures, and source of funds or wealth where applicable.

5.3 Authorization to Conduct Verification and Screening. By applying for or maintaining an Account, you authorize MyNeoBank to conduct identity, business, and beneficial ownership verification checks, validate information through third-party providers, screen against sanctions and PEP databases, and conduct ongoing monitoring of transactions and account activity.

5.4 Ongoing Due Diligence and Information Updates. Verification is not a one-time process. MyNeoBank may request updated or additional information at any time, re-perform verification periodically, and impose enhanced due diligence where higher risk is identified.

5.5 Refusal, Suspension, or Termination. MyNeoBank may refuse onboarding, suspend access, or terminate an Account where verification cannot be satisfactorily completed, information is inaccurate, or continued service would create regulatory non-compliance or unacceptable risk exposure.

5.6 Regulatory Reporting and Record Retention. MyNeoBank is legally obligated to maintain records relating to customer identification, verification, and transactions and to submit reports to FINTRAC and other competent authorities where required.

5.7 No Right to Service Without Verification. You acknowledge that no Account or Service can be activated or maintained unless verification requirements are met to MyNeoBank’s satisfaction.

6.1 Conditional Access to Services. Access to and use of MyNeoBank Services is conditional upon successful registration and verification, your ongoing compliance with these Terms and all relevant laws, and continued availability of the Services in your jurisdiction and for your customer profile.

6.2 Permitted Use. You may use the Services solely for lawful purposes and for transactions that are legitimate, transparent, and supported by a genuine underlying economic purpose.

6.3 Transaction Execution and Processing. Transactions are processed in accordance with your instructions, the availability and rules of the relevant payment method or financial institution, and applicable legal and regulatory requirements. MyNeoBank does not guarantee that any transaction will be completed within a specific timeframe.

6.4 Monitoring, Controls, and Intervention. MyNeoBank may monitor transactions and account activity continuously, impose limits or restrictions, delay, suspend, reverse, or refuse to process transactions, and request additional information where required.

6.5 Third-Party Dependencies. Certain Services rely on third-party financial institutions, payment networks, technology providers, or compliance vendors. Availability and performance may be affected by third-party rules, outages, or decisions.

6.6 No Guarantee of Continuous Availability. The Services are provided on an “as available” basis and may be suspended for maintenance, upgrades, security incidents, or regulatory reasons.

6.7 Prohibited Use. You must not use the Services in connection with prohibited activity, restricted jurisdictions, sanctioned persons, or attempts to circumvent compliance, security, or monitoring controls.

6.8 Responsibility for Account Activity. You are solely responsible for all activity conducted through your Account, including actions by authorized users, API integrations, or third parties acting on your behalf.

7.1 General Responsibility for the Account. You are solely responsible for the proper management and use of your Account at all times.

7.2 Monitoring and Reconciliation. You must regularly review balances, transaction history, and statements, and promptly report discrepancies, errors, or unauthorized transactions.

7.3 Maintenance of Sufficient Funds. You are responsible for ensuring sufficient available funds at all times to cover pending transactions, fees, taxes, refunds, reversals, chargebacks, recalls, adjustments, and negative balances.

7.4 Notification of Security Issues and Irregular Activity. You must notify MyNeoBank immediately upon becoming aware of unauthorized access, suspected fraud, or unusual activity.

7.5 Requests for Information and Transaction Review. MyNeoBank may at any time request additional information, conduct reviews, and delay, suspend, reverse, or refuse to process transactions where necessary.

7.6 Cooperation Obligation. You agree to cooperate fully and promptly with any reasonable request made by MyNeoBank in connection with compliance reviews, investigations, audits, or regulatory inquiries.

8.1 Protection of Credentials and Access Devices. You are responsible for maintaining the confidentiality and security of all credentials associated with your Account, including usernames, passwords, multi-factor authentication tools, API credentials, and other access mechanisms.

8.2 Prohibition on Credential Disclosure. MyNeoBank will never request your password, authentication codes, or private security credentials by email, telephone, or any other communication channel. You must not disclose such information to any third party.

8.3 Duty to Act Upon Suspected Compromise. If you become aware of unauthorized access, loss, theft, or compromise of security devices, or any breach or attempted breach of security, you must take reasonable steps to secure your Account and notify MyNeoBank immediately.

8.4 MyNeoBank’s Protective Measures. MyNeoBank may implement security measures such as temporary suspension, additional authentication, transaction blocks, and monitoring without prior notice where immediate action is necessary.

8.5 No Waiver of Responsibility. MyNeoBank’s security controls do not relieve you of your responsibility to maintain appropriate security over your Account.

9.1 Fee Disclosure and Applicability. Fees, charges, and pricing are made available through your Dashboard, the Platform, related documentation, or a separate agreement. Unless agreed otherwise in writing, all Fees apply only after your Account has been approved and verified.

9.2 Taxes and Governmental Charges. All Fees are stated exclusive of applicable taxes, levies, duties, or similar governmental charges. You are solely responsible for determining, reporting, and remitting taxes arising from your use of the Services.

9.3 Fee Changes and Adjustments. MyNeoBank may amend, introduce, or remove Fees at any time in response to regulatory changes, partner pricing adjustments, operational costs, or market conditions.

9.4 Third-Party Costs and Deductions. Certain transactions may give rise to third-party costs such as reversals, refunds, chargebacks, investigations, and compliance or legal enforcement actions. MyNeoBank may deduct such costs directly from your Account.

9.5 No Set-Off or Withholding. Unless expressly permitted by law, you may not withhold, set off, or deduct any amounts payable to MyNeoBank.

10.1 General Prohibition. You must not access or use the Services, directly or indirectly, in any manner that is unlawful, improper, misleading, or inconsistent with these Terms or applicable laws and regulations.

10.2 Specifically Prohibited Activities. You are strictly prohibited from using the Services in connection with illegal, fraudulent, or deceptive activity; money laundering, terrorist financing, or sanctions evasion; business or transaction categories identified in Appendix A (Prohibited Activities); or transactions involving persons, entities, assets, or activities connected to jurisdictions listed in Appendix B (Restricted Jurisdictions).

11.1 Suspension and Restriction of Services. MyNeoBank may suspend, restrict, or limit access to your Account or any part of the Services where such action is reasonably necessary to comply with law, meet partner obligations, investigate suspected fraud or prohibited activity, conduct audits or enhanced due diligence, or mitigate risk.

11.2 Termination by You. You may request closure of your Account at any time, subject to settlement of all fees, charges, negative balances, and resolution of pending transactions or compliance reviews.

11.3 Termination by MyNeoBank. MyNeoBank may terminate your Account immediately where required by law, where you breach these Terms, where your risk profile becomes unacceptable, or where continued provision of the Services would expose MyNeoBank or its partners to risk.

11.4 Effect of Termination. Termination does not affect accrued rights, obligations, or liabilities and does not relieve you of outstanding responsibilities.

11.5 Survival. Provisions relating to fees, indemnification, limitation of liability, confidentiality, and governing law survive termination.

12.1 Limited License to Use the Platform. Subject to your continued compliance with these Terms, MyNeoBank grants you a limited, revocable, non-exclusive, non-transferable, and non-sublicensable license to access and use the Platform, Software, and related technical tools solely for using the Services.

12.2 Ownership of Intellectual Property. All rights, title, and interest in the Platform, Software, APIs, documentation, trademarks, service marks, logos, designs, content, and underlying technology remain the exclusive property of MyNeoBank or its licensors.

12.3 Restrictions on Use. Except as expressly permitted by applicable law or in writing by MyNeoBank, you must not copy, modify, adapt, translate, reverse engineer, decompile, disassemble, sublicense, sell, assign, or otherwise commercially exploit the Software or Platform.

12.4 Effect of Termination. Upon suspension or termination of your Account or these Terms, all licenses granted under this Section automatically terminate.

13.1 Confidential Information. During the relationship, either party may receive non-public, proprietary, or confidential information relating to the other party. Confidential Information excludes information that is publicly available without breach, already lawfully known, independently developed, or lawfully obtained from a third party.

13.2 Confidentiality Obligations. Each party agrees to use Confidential Information solely for purposes related to performance of these Terms, protect it using at least reasonable care, and restrict access to personnel or service providers with a legitimate need to know.

13.3 Permitted Disclosures. You acknowledge and agree that MyNeoBank may disclose information, including Confidential Information, where reasonably necessary to banks, safeguarding institutions, payment service providers, compliance vendors, regulators, FINTRAC, courts, law enforcement agencies, or other competent authorities.

13.4 Personal Data Processing. Personal data is collected, used, stored, and disclosed in accordance with applicable privacy laws and MyNeoBank’s Privacy Policy, including cross-border transfers where permitted by law.

13.5 Survival. Confidentiality obligations survive termination for as long as the Confidential Information remains confidential under applicable law.

14.1 General Indemnity Obligation. You agree to indemnify, defend, and hold harmless MyNeoBank, MBK Finance, and their directors, officers, employees, contractors, agents, affiliates, and service providers from and against claims, proceedings, losses, damages, liabilities, fines, costs, and expenses arising out of or relating to your use of the Services, breach of these Terms, legal violations, transactions initiated through your Account, or false or misleading information provided by you.

14.2 Regulatory Fines and Enforcement Actions. You further agree to reimburse the Indemnified Parties for any fines, penalties, assessments, enforcement actions, or remediation costs imposed by regulators, authorities, payment networks, or financial institutions arising from your conduct, transactions, or incomplete disclosures.

14.3 Defense and Cooperation. MyNeoBank may assume the exclusive defense and control of any matter subject to indemnification, and you agree to cooperate fully and not settle any claim without MyNeoBank’s prior written consent.

14.4 Survival. These indemnification obligations survive termination of your Account and these Terms.

15.1 Exclusion of Certain Damages. To the maximum extent permitted by applicable law, MyNeoBank and its affiliates and service providers shall not be liable for indirect, incidental, consequential, special, exemplary, or punitive damages, including loss of profits, revenue, business, data, goodwill, reputation, opportunity, business interruption, or third-party claims.

15.2 Third-Party Services and Systems. MyNeoBank is not liable for loss, damage, delay, or failure resulting from acts or omissions of third-party financial institutions, payment networks, clearing systems, blockchain networks, technology providers, outages of telecommunications or power services, or delays arising from compliance reviews or court orders.

15.3 Customer Responsibility. Nothing in these Terms makes MyNeoBank responsible for the legality, quality, safety, or delivery of goods or services provided by you, disputes between you and third parties, or losses resulting from your failure to comply with these Terms or applicable laws.

16.1 Services Provided “As Is” and “As Available”. To the maximum extent permitted by law, the Platform, Services, Software, and related functionality are provided on an “as is” and “as available” basis.

16.2 No Implied Warranties. MyNeoBank expressly disclaims implied warranties of merchantability, fitness for a particular purpose, non-infringement, uninterrupted or error-free operation, and accuracy or completeness of data or transaction processing.

16.3 No Guarantee of Processing or Outcomes. MyNeoBank does not guarantee that any transaction will be accepted, processed, settled, or completed, that transactions will complete within any specific timeframe, or that any specific Service, Payment Method, currency, or feature will remain available.

16.4 Third-Party Systems and Dependencies. The Services depend on third-party systems, and MyNeoBank is not responsible for failures, delays, errors, or interruptions caused by such third parties or events outside its reasonable control.

16.5 Regulatory and Compliance Actions. MyNeoBank may be required to suspend, restrict, delay, freeze, or report transactions or Accounts to comply with applicable law, regulations, sanctions regimes, court orders, or instructions from competent authorities.

16.6 No Financial, Legal, or Tax Advice. Nothing provided through the Platform or Services constitutes financial, investment, legal, accounting, or tax advice.

16.7 Force Majeure. MyNeoBank is not liable for failure or delay in performance arising from events beyond its reasonable control, including natural disasters, acts of government, cyber incidents, power failures, or disruptions to telecommunications or payment infrastructure.

16.8 Consumer Rights. Nothing in these Terms excludes or limits rights or remedies available under applicable consumer protection laws that cannot lawfully be excluded or limited.

17.1 Right to Amend. MyNeoBank reserves the right to amend, update, replace, or supplement these Terms at any time to reflect changes in applicable law, regulatory guidance, operational, technical, or security requirements, Services, pricing, or business practices.

17.2 Notice of Changes. Where reasonably practicable, MyNeoBank will provide notice of material amendments by posting the updated Terms on the Platform. Unless otherwise stated, amended Terms take effect on the date specified in the notice or, if none is specified, upon publication.

17.3 Acceptance of Amendments. Your continued access to or use of the Services after the effective date of an amendment constitutes acceptance of the revised Terms.

17.4 Immediate Effect of Certain Changes. Amendments required to comply with law, directives from regulators or courts, or urgent security or risk mitigation measures may take effect immediately upon notice or publication.

17.5 Version Control. The version of the Terms published on the Platform at any given time is deemed the current and binding version.

18.1 Governing Law. These Terms, your Account, and all Services provided by MyNeoBank are governed by and construed in accordance with the laws of Canada and, where applicable, the laws of the Province of British Columbia, without regard to conflict of laws principles.

18.2 Good-Faith Resolution of Disputes. Before commencing legal proceedings, you and MyNeoBank agree to use reasonable efforts to resolve disputes through good-faith discussions.

18.3 Complaints Handling. Complaints must be submitted in writing to MyNeoBank using the contact details made available on the Platform or otherwise designated by MyNeoBank.

18.4 Jurisdiction and Venue. Subject to applicable law, legal actions or proceedings arising out of or relating to these Terms or the Services shall be brought exclusively before the courts located in the Province of British Columbia, Canada.

18.5 Regulatory and Statutory Rights. Nothing in these Terms limits or prevents you from exercising rights or remedies available under applicable laws, including submitting complaints or information to regulatory authorities such as FINTRAC or consumer protection agencies.

18.6 Continued Performance. Unless otherwise required by law or regulatory instruction, the parties shall continue to perform their respective obligations while any dispute is being resolved, to the extent reasonably practicable.

18.7 Injunctive Relief. MyNeoBank is entitled to seek injunctive or equitable relief in addition to any other remedies available at law where breaches may cause irreparable harm.

19.1 Methods of Communication. MyNeoBank may deliver notices, disclosures, statements, confirmations, and other communications through the Platform or Dashboard, by email to your Registered Email address, by in-app notifications, or through any other agreed communication channel.

19.2 Deemed Receipt. Communications are deemed received immediately when made available through the Platform or Dashboard, on the date of transmission when sent by email (unless a delivery failure notice is received), or on the date otherwise indicated by MyNeoBank for other delivery methods.

19.3 Your Responsibility to Monitor Communications. You are responsible for regularly monitoring communications made available through the Platform and your Registered Email.

19.4 Notices to MyNeoBank. Unless otherwise specified, notices to MyNeoBank must be submitted in writing using the contact details published on the Platform or otherwise designated by MyNeoBank.

19.5 Language of Communications. Unless otherwise agreed, all communications under these Terms shall be conducted in English.

19.6 Regulatory and Legal Communications. Nothing in this Section limits MyNeoBank’s right or obligation to communicate with regulators, authorities, courts, law enforcement agencies, or service providers, or to disclose information where required or permitted by law.

20.1 Entire Agreement. These Terms, together with any applicable Service Agreements, appendices, policies, and disclosures referenced in them (including the Privacy Policy), constitute the entire agreement between you and MyNeoBank.

20.2 Severability. If any provision is held invalid, unlawful, or unenforceable, such provision shall be enforced to the maximum extent permissible and the remaining provisions remain in full force and effect.

20.3 No Waiver. Failure or delay by MyNeoBank to exercise a right, power, or remedy under these Terms does not operate as a waiver.

20.4 Assignment and Transfer. You may not assign or transfer your rights or obligations without prior written consent. MyNeoBank may assign or transfer these Terms in connection with corporate reorganization, merger, sale of assets, or as otherwise permitted by law.

20.5 Independent Parties. Nothing in these Terms creates any partnership, joint venture, agency, fiduciary, or employment relationship between you and MyNeoBank.

20.6 Force Majeure. Neither party shall be liable for failure or delay in performance caused by events beyond its reasonable control, other than payment obligations.

20.7 Third-Party Rights. Except as expressly stated otherwise, no person or entity other than you and MyNeoBank shall have any rights or remedies under these Terms.

20.8 Survival. Any provisions intended by their nature to survive termination or expiry, including fees, confidentiality, intellectual property, indemnification, limitation of liability, governing law, and dispute resolution, shall survive termination of your Account and these Terms.

20.9 Headings and Interpretation. Headings are included for convenience only and do not affect interpretation. Singular words include the plural and vice versa, and references to statutes include amendments and replacements.