Terms of Use

Updated: March 27th, 2025

Welcome to Neobanc Inc.! We have put together these detailed terms and conditions to clarify expectations and to set out our respective rights and obligations relating to your use of our Services (defined herein). These terms ("Terms of Use" or "Terms") along with our privacy policy (the "Privacy Policy," found at Neobanc's Privacy Policy) are resources for you to gain a deeper understanding of how we use information and data we collect, and what your rights and our obligations are with respect to that information.

Please carefully read both these Terms and our Privacy Policy before using our services.

1. Scope

1.1 Definitions

When used in this Agreement, each of the following words and phrases shall have the meanings set out below:

• "Account Profile" means a user's account created for unique identification.
• "Agreement" means these Terms of Use, including related schedules, and policies, as may be amended from time to time.
• "Credit Card Payment" refers to the use of the Services to make a payment of rents or fees via credit card by tenants or property owners to their Landlords or property managers (as applicable).
• "Debit Card Payment" refers to the use of the Services to make a payment of rents or fees via Visa debit card or MasterCard debit card by tenants or property owners to their Landlords or property managers (as applicable).
• "Bank Account Payment" refers to the use of the Services to make a payment of rents or fees via checking/chequing bank account by tenants or property owners to their Landlords or property managers (as applicable).
• "Force Majeure" means any act, occurrence, condition or event beyond the control of a party that materially affects the performance of that party's obligations under this Agreement that could not reasonably have been foreseen or provided against, including such events as fires, telecommunications or utility or power failures, governmental or quasi-governmental acts, equipment failures, labor strike, riots, war, non-performance of our vendors or suppliers, acts of God, but not including general economic conditions.
• "Landlord" means the person with whom you have a lease agreement under which you are using the Services to facilitate Payment.
• "Lease" refers to the written lease agreement between a User and Landlord.
• "Payment" or "Payments" means a Credit Card Payment, Debit Card Payment, Bank Account Payment or a Cash Payment as the case may be.
• "Payment Amount" refers to the aggregate dollar value of a Payment exclusive of the Service Fee.
• "Service Fee" means the fee charged by Neobanc to you when you use the Payment Service and a Credit Card Payment, Debit Card Payment, or Bank Account Payment to pay your landlord. The Service Fee that you pay may be charged for such Payment.

2. Eligibility and your Account

• 2.1 Neobanc Services: Subject to the terms of this Agreement and when offered by us, you may use our Services to make rent Payments through the Website to your landlord.
• 2.2 Your Account: When you enroll to use our Services, you must create a Neobanc account and provide an Account Profile. You agree to keep the information in your profile accurate and current.
• 2.3 Eligibility: To be eligible to use our Services, you must be either:
  • (1) an individual who is of legal age to be able to form legally binding contracts in their jurisdiction of residence, or
  • (2) a corporation, partnership, or other legal entity duly formed (and incorporated, if applicable) and in good standing.
• 2.4 Identity Authentication: You hereby authorize us, directly or through third parties, to make any inquiries we consider necessary to validate your identity.

3. Third Party Services

• 3.1 General Third Party Liability Disclaimer: Our Website may contain Linked Sites through which you can access the provision of Third Party Services.
• 3.2 Third-Party Credit Services: Neobanc not a consumer credit provider or micro-lender and does not carry on any activity in respect of credit or lending services.

4. Making Payments

• 4.1 Payment Processor: When you make a Payment using our Services, our Payment Processor relays the credit-card authorization requests and responses between you and your debit or credit card issuing bank.
• 4.2 Service Fee: Immediately after you make a Payment using the Service, Neobanc may charge you a non-refundable Service Fee.
• 4.3 Taxes: It is your responsibility to determine what, if any, taxes apply to the Payments you make.
• 4.4 No Reversals and No Refunds: If your Payment is completed, you accept and agree that no refunds, cancellations or chargebacks are permitted.
• 4.5 No Authorized Use of Alternative Payment Instruments: By selecting to pay rent using an alternative funding source or non-traditional payment method (collectively, "Alternative Payment Instruments") through the Services, you represent and warrant that you are the lawful holder or have obtained the full legal right and authority to permit Neobanc to access, process, or facilitate transactions using such Alternative Payment Instrument on your behalf. You expressly authorize Neobanc and its third-party service providers to act as your agent in managing and applying the value of the Alternative Payment Instrument for the sole purpose of executing transactions in accordance with these Terms.
  
  You acknowledge and agree that Neobanc does not issue or underwrite any Alternative Payment Instruments and is not responsible for their funding, origin, or functionality. Neobanc has no obligation to independently verify your authority to use any such payment method beyond the representations made by you. You further agree to indemnify and hold harmless Neobanc, its affiliates, officers, directors, and service providers from any liability, claim, dispute, or loss arising out of the use or processing of any Alternative Payment Instrument provided by you, unless such liability arises solely from Neobanc's gross negligence or willful misconduct.
• 4.6 User Funds and Custody: Neobanc does not invest, lend, or otherwise use customer funds for speculative purpose. All funds received through the Services are processed solely for the purpose of facilitating payments to landlords or designated recipients, as authorized by the user.
  
  Once a payment is processed and settled, user funds are held securely in segregated custodial accounts with Digital Commerce Bank, a federally regulated Canadian financial institution. These funds are deposited in accounts that are eligible for protection under the Canada Deposit Insurance Corporation (CDIC), subject to applicable limits and coverage rules.

5. Your Conduct

In connection with your use of our Website and our Services, you agree to:

• Use the Services exclusively for rental payments.
• Comply with all applicable laws.
• Not register multiple Neobanc accounts without written consent.
• Not introduce viruses, trojans, or other harmful code.

6. Intellectual Property

Neobanc grants you a limited, non-exclusive, revocable, non-transferable license to access our Services.

7. Security and Electronic Communication

You accept full responsibility for all risks associated with electronic communications.

8. Privacy

Neobanc has taken commercially reasonable steps to ensure that data and personal information are protected in accordance with PIPEDA and other relevant Canadian laws.

9. Indemnification; Limitation of Liability; Warranties

• 9.1 Indemnification and Release: You agree to indemnify and hold harmless each of the Indemnified Parties.
• 9.2 Limitations of Liability: IN NO EVENT SHALL NEOBANC BE LIABLE FOR DAMAGES BEYOND $100 OR THE AGGREGATE AMOUNT YOU HAVE PAID IN FEES IN ONE MONTH.
• 9.3 Warranty Disclaimer: All services provided by Neobanc are on an "AS IS" basis.

10. Term and Termination

• 10.1 Term: These Terms remain in effect while you use the Services.
• 10.2 Termination by Neobanc: Neobanc may terminate your access at any time.
• 10.3 Revocation of Cashback by Neobanc: Neobanc reserves the right to revoke any cashback rewards if, in its sole discretion, it determines that the cashback was obtained through fraudulent activity, money laundering, self-referrals, or transactions designed to misrepresent the identity of the landlord or the nature of the rental payment. In certain circumstances, Neobanc may require you to complete a Know Your Customer (KYC) verification process to confirm your identity.

11. Miscellaneous

• 11.1 Currency: All amounts in this Agreement are in Canadian dollars.
• 11.2 Relationship: Neobanc is an independent contractor.

12. Support

For any questions, contact Team@Neobanc.com.