How are funds for payment of bills handled by TelPay? Answer: Please refer to our Funding of Payments Guide.
8.2 Question: How secure are funds provided to TelPay for payment of bills? Answer: All funds are in Trust accounts which are held by Financial Institutions insured with the Canadian Deposit Insurance Corporation. TelPay maintains a $10,000,000 Fidelity Bond. TelPay has a history of handling funds for most of the major billers in Canada since 1985. 8.3 Question: How do I know the bank account number I provide will not be misused? Answer: Bank account and other sensitive information is maintained in encrypted form, whether during transmission to or from TelPay, or stored on TelPay’s facilities. 8.4 Question: Should I be concerned about giving others my bank account number? Answer: We don’t think about it but every time we issue a cheque we are sending someone our bank account number. In Europe it is quite common to find the bank account number printed on the customer’s invoices. This is to encourage electronic payment of the invoices.
