SUPPLEMENTAL TERMS OF USE
This Beacon Money Plus Supplemental Terms of Use (“Agreement”) is between you and MyBeacon Services Inc. (“Beacon,” “we,” “us,” or “our”) and shall be considered Service-Specific Terms (as defined in Beacon’s general Terms of Use) with respect to your access to, and use of, the Beacon Money Plus service (the “Service”).
This Agreement sets out the additional terms (in addition to Beacon’s general Terms of Use and the Beacon Money Account Terms) by which you will be bound when you use the Service. Do not use the Service if you do not agree to be bound by these terms. By using the Service, you agree to all the terms contained in this Agreement, and the provisions contained in any agreements referenced herein.
Capitalized terms used but not defined in this Agreement have the meanings given to them in Beacon’s general Terms of Use or the Beacon Money Account Terms, as applicable.
Definitions
In this Agreement, the following capitalized terms have the following meanings:
“Beacon Money Account” means your digital wallet account with Beacon, as governed by the Beacon Money Account Terms.
“Beacon Money Plus Account” or “BMP Account” means the separate account offered by Beacon through the Service, in which you may hold funds for the purpose of accruing Cashback Rewards in accordance with this Agreement.
“Business Day” means any day other than a Saturday, Sunday, or a day on which banks are authorized or required by law to be closed in Toronto, Ontario.
“Cashback Rate” means the applicable daily rate, expressed as an annual percentage, at which Cashback Rewards accrue on the balance held in your BMP Account, as communicated to you through the Beacon App and as may be modified by Beacon from time to time in accordance with Section 9 of this Agreement.
“Cashback Rewards” means the cash back rewards that accrue daily on the balance in your BMP Account at the applicable Cashback Rate.
“Disbursement Date” means the date, within seven (7) Business Days following the end of each calendar month, on which accrued Cashback Rewards for the preceding month are credited to your Beacon Money Account.
“Principal Balance” means the funds transferred by you and held in your BMP Account, exclusive of any accrued but undisbursed Cashback Rewards.
“Trust Account” means the trust account maintained by Beacon with a registered financial institution in compliance with the Retail Payment Activities Act (Canada), in which funds held in BMP Accounts are safeguarded.
Service Description
Beacon Money Plus is a service that allows eligible users to hold funds in a BMP Account and earn Cashback Rewards on the balance of those funds. Your BMP Account is a separate account from your Beacon Money Account.
b. Funds held in your BMP Account are held by Beacon in a Trust Account with a registered financial institution (which may be in a different financial institution than where your Beacon Money Account is held) in compliance with the Retail Payment Activities Act (Canada). Beacon is not a bank. Your BMP Account is not a deposit account, savings account, or any other type of account offered by a bank or other deposit-taking institution. Principal funds held in your BMP Account may be eligible for Canada Deposit Insurance Corporation (CDIC) protection, subject to CDIC’s coverage rules and limits. For more information, visit www.cdic.ca.
Cashback Rewards are not interest. The Cashback Rewards are a promotional incentive offered by Beacon and do not constitute interest or a return on investment within the meaning of any applicable securities, banking, or financial services legislation.
Eligibility
To use the Service, you must: (i) be at least 18 years old and able to enter into a legal agreement; (ii) hold an active Beacon Money Account in good standing; (iii) have completed all applicable identity verification, compliance checks, and other due diligence requirements as determined by Beacon, and it to Beacon’s satisfaction; and (iv) have a Canadian address on file with Beacon.
Beacon reserves the right, in its sole discretion, to approve or reject your access to the Service, and to limit, suspend, or terminate your access to the Service at any time for any reason, including for compliance or regulatory reasons.
Funding Your BMP Account
You may fund your BMP Account by transferring available funds from your Beacon Money Account through the Beacon App. Only available funds from your Beacon Money Account may be used to fund your BMP Account.
By transferring funds to your BMP Account, you authorize Beacon to hold such funds in the Trust Account on your behalf in accordance with this Agreement and applicable law.
Beacon, and its financial partners, including institutions where your BMP is held, may establish minimum and maximum balance requirements for BMP Accounts and may modify such limits from time to time at its sole discretion. As of the date of this Agreement, the minimum deposit required to open and maintain a BMP Account is $10 CAD, which amount may be changed by Beacon at any time in its sole discretion. Any such limits will be communicated to you, either through the Beacon App, or by email to the registered email we have on file for you.
Cashback Rewards
Accrual. Cashback Rewards accrue daily on the Principal Balance held in your BMP Account at the applicable Cashback Rate, commencing on the day fund transfers are settled into your BMP Account. The Cashback Rate will be communicated to you (which may be through the Beacon App) and may be changed by Beacon at any time, in its sole discretion, in accordance with Section 9 of this Agreement.
Visibility. You may view your accrued Cashback Rewards at any time through the Beacon App. The accrued amount displayed is an estimate and may be subject to adjustment prior to disbursement.
Disbursement. Accrued Cashback Rewards will be calculated as of the last day of each calendar month. If, as of any such calculation date, your total accrued but undisbursed Cashback Rewards are less than $1.00 CAD, those Cashback Rewards will not be disbursed at that time and will instead be carried forward and continue to accrue until your total accrued but undisbursed Cashback Rewards reach at least $1.00 CAD. Once that $1.00 CAD threshold is reached, your accrued Cashback Rewards will be disbursed to your Beacon Money Account in accordance with this Section 5(c). Cashback Rewards are only disbursed to your Beacon Money Account and cannot be directed to any other account or payment method.
No Compounding. Cashback Rewards accrue only on the Principal Balance in your BMP Account. Accrued but undisbursed Cashback Rewards do not themselves earn additional Cashback Rewards.
Modification or Discontinuation. Beacon reserves the right, in its sole discretion, to modify the Cashback Rate (including reducing it to zero), change the terms of the Cashback Rewards program, or discontinue the Cashback Rewards program entirely, at any time. All such changes will apply on a prospective basis only, effective from the date of the change, and will not result in any retroactive adjustment to Cashback Rewards already accrued prior to the effective date of the change.
Withdrawals
Right to Withdraw. You may request a withdrawal of all or a portion of the Principal Balance from your BMP Account at any time through the Beacon App.
Cessation of Rewards on Withdrawal. From the date you submit a withdrawal request, Cashback Rewards will cease to accrue on the amount requested for withdrawal. For greater certainty, if you request a partial withdrawal, Cashback Rewards will continue to accrue on the remaining Principal Balance in your BMP Account.
Processing Time. Withdrawal requests will typically be processed and the funds credited to your Beacon Money Account within three (3) Business Days; however, processing times may vary and, in some cases, may take longer depending on bank processing times and other factors outside of Beacon’s reasonable control.
Destination of Withdrawn Funds. All withdrawn funds will be credited exclusively to your Beacon Money Account. You may not direct withdrawn funds to any other bank account, financial institution, or third party. Once funds are credited to your Beacon Money Account, their use is governed by the Beacon Money Account Terms.
No Liability for Processing Delays. Beacon shall not be liable for any delays in processing withdrawals, including delays caused by bank processing times, system maintenance, compliance reviews, or other circumstances beyond Beacon’s reasonable control. If you require funds by a certain date, it is your responsibility to ensure that you initiate withdrawal requests sufficiently in advance to allow for applicable processing times and potential delays.
Trust Account and Safeguarding of Funds
Funds held in BMP Accounts are maintained by Beacon in a Trust Account with a registered financial institution in compliance with the Retail Payment Activities Act (Canada) and any other applicable laws and regulations.
Beacon holds funds in the Trust Account as trustee for the benefit of BMP Account holders. You acknowledge that (i) Beacon is not a bank or deposit-taking institution; (ii) funds held in the Trust Account may be eligible for Canada Deposit Insurance Corporation (CDIC) protection, subject to CDIC’s coverage rules and limits; and (iii) you do not have a direct relationship with the financial institution at which the Trust Account is maintained by virtue of your BMP Account.
Restrictions and Prohibited Uses
You may not use the Service for any purpose other than as expressly permitted by this Agreement. Without limiting the generality of the foregoing, you agree not to:
use the Service in a manner that violates any applicable law or regulation, including any anti-money laundering, anti-terrorist financing, sanctions, or financial services laws;
attempt to manipulate, exploit, abuse, or game (in all cases, as determined by Beacon in its full discretion) the Cashback Rewards program, including by engaging in patterns of deposits and withdrawals designed to artificially inflate rewards;
use the Service on behalf of any third party without the prior written consent of Beacon; or
attempt to circumvent any limits, restrictions, or controls imposed by Beacon in connection with the Service.
Beacon may, in its sole discretion, suspend, restrict, or terminate your access to the Service, and may forfeit any accrued but undisbursed Cashback Rewards, if Beacon determines that you have engaged in any prohibited use or have otherwise breached this Agreement. If Beacon determines that any Cashback Rewards have been previously disbursed to you for which you were not eligible, or were otherwise obtained by a breach of this Agreement, or any other agreements between Beacon and you, Beacon may, in addition to any other rights available to it under such agreements or law, also recover such amounts from you, including by setting-off such amounts from any amounts held in your Beacon Money Account.
Amendments
Beacon may amend this Agreement, including the Cashback Rate and any other terms of the Service, at any time. We will notify you of changes through one or more of the following methods: (a) email communications to your registered email address; (b) mobile application notifications; (c) website announcements; or (d) account statements or digital notices. Your continued use of the Service following any modification constitutes your acceptance of the amended terms. If you do not agree with the changes, you may withdraw your Principal Balance and discontinue use of the Service before the effective date of the changes.
Termination
You may terminate your use of the Service at any time by withdrawing all funds from your BMP Account through the Beacon App. Upon full withdrawal, your BMP Account will be closed.
Beacon may terminate or suspend your access to the Service at any time, with or without notice, and for any reason, including breach of this Agreement, breach of any other agreements between you and Beacon, compliance or regulatory reasons, or discontinuation of the Service. In the event of termination by Beacon, Beacon will use commercially reasonable efforts to return your Principal Balance to your Beacon Money Account expeditiously.
Upon termination of the Service for any reason: (i) Cashback Rewards will cease to accrue as of the date of termination; (ii) any accrued but undisbursed Cashback Rewards will be disbursed to your Beacon Money Account in accordance with Section 5(c), subject to any forfeiture under Section 8(b); and (iii) your Principal Balance will be returned to your Beacon Money Account, subject to applicable processing times.
Sections 7, 11, 12, 13, and 15 shall survive any termination of this Agreement.
Disclaimer of Warranties
THE SERVICE IS PROVIDED ON AN “AS IS” AND “AS AVAILABLE” BASIS, WITHOUT ANY REPRESENTATIONS, WARRANTIES OR CONDITIONS OF ANY KIND, WHETHER EXPRESS OR IMPLIED, AND INCLUDING WITHOUT LIMITATION IMPLIED REPRESENTATIONS, WARRANTIES OR CONDITIONS OF TITLE, NON-INFRINGEMENT, MERCHANTABILITY, FITNESS FOR A PARTICULAR PURPOSE, PERFORMANCE, DURABILITY, AVAILABILITY, TIMELINESS, ACCURACY, OR COMPLETENESS, ALL OF WHICH ARE HEREBY DISCLAIMED BY BEACON TO THE FULLEST EXTENT PERMITTED BY LAW. BEACON DOES NOT WARRANT THAT THE SERVICE WILL BE UNINTERRUPTED, ERROR-FREE, OR SECURE, OR THAT ANY DEFECTS WILL BE CORRECTED. BEACON MAKES NO REPRESENTATIONS OR WARRANTIES REGARDING THE AVAILABILITY OR CONTINUITY OF THE CASHBACK REWARDS PROGRAM OR ANY PARTICULAR CASHBACK RATE.
Limitation of Liability
BEACON WILL NOT UNDER ANY CIRCUMSTANCES BE LIABLE TO YOU OR ANY OTHER PERSON IN ANY WAY FOR ANY LOSS OR DAMAGES (DIRECT, INDIRECT, SPECIAL, ECONOMIC, INCIDENTAL, CONSEQUENTIAL, PUNITIVE OR EXEMPLARY, INCLUDING WITHOUT LIMITATION LOSS OF REVENUE, DATA, ANTICIPATED PROFITS OR LOST BUSINESS) IN RESPECT OF THE USE OF, OR INABILITY TO USE, THE SERVICE, INCLUDING WITHOUT LIMITATION ANY LOSSES ARISING FROM: (A) CHANGES TO, SUSPENSION OF, OR DISCONTINUATION OF THE CASHBACK REWARDS PROGRAM OR THE CASHBACK RATE; (B) DELAYS IN PROCESSING WITHDRAWALS OR DISBURSEMENTS; (C) ANY ACTS OR OMISSIONS OF THE FINANCIAL INSTITUTION AT WHICH THE TRUST ACCOUNT IS MAINTAINED OR ANY OTHER THIRD-PARTY SERVICE PROVIDER; OR (D) ANY LOSS OF FUNDS HELD IN THE TRUST ACCOUNT DUE TO CIRCUMSTANCES BEYOND BEACON’S REASONABLE CONTROL.
Indemnification
By accessing or using the Service, you agree to indemnify and hold harmless Beacon and its agents, suppliers, service providers, and their respective directors, officers, and employees from and against any and all actions, proceedings, costs, claims, liabilities, damages, and expenses (including reasonable legal fees) arising from or in connection with: (a) a breach of this Agreement; (b) your use of the Service; (c) your violation of any applicable law in connection with the Service; or (d) any inaccuracy in or omission from the information you provide to Beacon in connection with the Service.
Privacy and Data Collection
When you use the Service, Beacon collects and processes information necessary to provide the Service and meet regulatory obligations. This information is handled in accordance with applicable privacy laws and Beacon’s Privacy Policy (available at https://www.mybeacon.ca/privacy-policy/). By using the Service, you consent to the collection, use, and disclosure of your information as described in the Privacy Policy and as necessary to provide the Service, including sharing information with the financial institution at which the Trust Account is maintained and other service providers as required for the operation of the Trust Account and the Service.
Governing Law and Dispute Resolution
This Agreement shall be governed by and construed in accordance with the laws of the Province of Ontario and the federal laws of Canada applicable therein, excluding any conflict of laws principles that would lead to the application of any other laws.
You agree that any dispute, claim, action, or proceeding arising out of or relating to this Agreement or the Service will be brought exclusively in the courts of the Province of Ontario (and, where applicable, the Federal Court of Canada sitting in Ontario), and each party irrevocably attorns to the exclusive jurisdiction of such courts. Notwithstanding the foregoing, Beacon may seek temporary, interlocutory, emergency, or injunctive relief (including specific performance) in any court of competent jurisdiction.
General
No Waiver. No consent or waiver by either party to, or of any breach or default by, the other party in its performance of its obligations under this Agreement will be deemed or construed to be a consent to, or a waiver of, a continuing breach or default or any other breach or default of those or any other obligations of that party. No consent or waiver will be effective unless in writing.
Severability. If any provision of this Agreement is found to be unlawful, void, or for any reason unenforceable, then that provision shall be deemed to be severed from the rest of this Agreement and shall not affect the validity and enforceability of any remaining provisions.
Assignment. You may not assign any of your rights or obligations under this Agreement.
Entire Agreement. Subject to Beacon’s general Terms of Use, the Beacon Money Account Terms, and any other applicable Service-Specific Terms, this Agreement sets forth the entire understanding and agreement between you and Beacon with respect to the subject matter hereof and supersedes any prior or contemporaneous understandings or agreements with respect to such subject matter.
Interpretation. Section headings have been added for convenience of reference and will not be deemed part of this Agreement. For purposes of this Agreement, “will” and “shall” are intended to have equivalent meaning, and “including” will mean “including without limitation.”
Language. This Agreement and all related documents shall be drawn up in English only. Le présent consentement et tous les documents qui s’y rattachent soient rédigés en anglais seulement.
Agreement Integration. This Agreement should be read in conjunction with Beacon’s general Terms of Use (https://www.mybeacon.ca/terms-conditions/ ), the Beacon Money Account Terms (https://www.mybeacon.ca/beacon-money-account-agreement/) , and Beacon’s Privacy Policy (https://www.mybeacon.ca/privacy-policy/ ). In the event of a conflict between these documents, the order of precedence shall be: (1) this Agreement, (2) the Beacon Money Account Terms, (3) Beacon’s general Terms of Use, and (4) other applicable terms.
Contact Information
If you have any questions or concerns about this Agreement or the Service, please contact us at:
MyBeacon Services Inc.
c/o 199 Bay St. #4000
Toronto, ON M5L 1A9
Canada
Email: [email protected]
This Agreement was last updated on [April 14], 2026.
YOU ACKNOWLEDGE THAT YOU HAVE READ AND UNDERSTOOD THESE TERMS AND CONDITIONS AND AGREE TO BE BOUND THEREBY. YOU ACKNOWLEDGE AND AGREE THAT EACH TIME YOU USE THE SERVICE OR CONDUCT ANY TRANSACTION IN CONNECTION WITH THE SERVICE, EACH SUCH USE OR TRANSACTION CONSTITUTES YOUR AGREEMENT AND INTENT TO BE BOUND BY THESE TERMS AND CONDITIONS.