At 1538623 B.C. LTD., protecting our clients’ funds is a fundamental priority. We are committed to maintaining appropriate safeguarding arrangements designed to protect funds received or held in connection with our payment and financial services.
How We Protect Client Funds
We maintain safeguarding arrangements that separate protected client funds from our corporate operating funds. Where required by applicable Canadian law, we use legally qualifying safeguarding arrangements, including trust accounts or other permitted mechanisms.
Client funds subject to safeguarding are not intended to finance our business operations or satisfy our ordinary corporate liabilities.
Segregated Trust Accounts
All client funds received by 1538623 B.C. LTD. (Canada) are held in segregated trust accounts at Tier 1 institutions. These accounts are:
- Separate from Corporate Operating FundsYour money is never mixed with Transferlow’s operational funds.
- Designated as Trust AssetsAccounts are clearly identified as trust accounts holding client money, providing legal protection under Canadian trust law.
- Reconciled DailyWe perform daily reconciliations to ensure client fund balances are accurate and fully accounted for.
- Not Used for Business OperationsClient funds cannot be used to pay Transferlow’s business expenses, creditors, or operational costs.
Reconciliation and Oversight
We maintain procedures designed to accurately record client balances, reconcile safeguarded funds, monitor financial institutions and payment partners, and identify discrepancies requiring investigation.
Third-Party Payment Partners
Where payment services are supported by third-party financial institutions or regulated payment service providers, we assess the relevant arrangements and responsibilities for holding and protecting client funds.
Protection in the Event of Insolvency
Our safeguarding framework is designed to mitigate the risk of loss of safeguarded client funds in the event of insolvency. However, safeguarding is not the same as deposit insurance and does not guarantee immediate or complete recovery in every circumstance.
- Client Funds Are ProtectedFunds held in segregated trust accounts are not assets of Transferlow and are not available to satisfy Transferlow’s creditors.
- Priority ReturnClient funds are held in trust for your benefit and must be returned to clients as a priority, ahead of other creditors.
- Trustee AdministrationA licensed insolvency trustee would administer the return of client funds in accordance with Canadian insolvency law and trust principles.
Our Commitment
We are committed to maintaining appropriate governance, operational controls, risk management, and oversight arrangements for the protection of client funds, consistent with applicable regulatory requirements.
Safeguarding Inquiries
For safeguarding-related inquiries, clients may contact the Company using the official contact details below.
1538623 B.C. LTD. (Transferlow)
201-15350 Croydon Drive, Surrey, BC V3Z 1H4, Canada
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