Compliance FAQ

Calforex requests ID where required by legislation or business purpose. As we do not open accounts at Retail for our clients, we must request identification every time it is deemed necessary to complete the transaction.
Banks and other financial entities have collected your personal information at account opening and updated periodically upon account review.
By asking you to sign in with your banking card and pin upon requesting service at a branch or online, they confirm your identity and use your information on file. Calforex does not keep your information accessible to all staff at a branch, therefore we must request it to meet our legal obligations.

Calforex recognizes that Privacy and protection of client information is important for all of our clientele and is a priority of all departments and staff at Calforex. Calforex strives to balance the fine line between meeting our Know Your Client requirements and legislated client privacy requirements under PIPEDA and applicable provincial privacy regulations.
Calforex will only share your information outside Calforex under the following circumstances:
– For business purposes to complete your transaction;
– We are required by law (or deem it necessary by law) to share the information;
– You have given express consent to do so.
Calforex will not share your information with any party outside of the above.
For more information on how we keep your information private and protected please review our Privacy Policy.

Calforex may be required to request additional information upon request of specific transactions. These requests are made to remain in compliance with legislative requirements but may also be to ensure that payments are applied appropriately or to ensure that your beneficiaries of electronic payments receive their funds.
Unfortunately, banking and payments standards are not created equally internationally and payments to some jurisdictions may require enhanced due diligence to ensure your friends, family and other beneficiaries receive the funds you have ordered to transfer.
All requests for additional information are made in order to complete your transactions or are required by law.