Terms of Service
1. What VirtuBank is
VirtuBank is a simulator. It lets families, schools, clubs and small organizations run a pretend bank or loyalty programme — inventing a currency, keeping balances, paying and charging each other.
Nothing on VirtuBank is real money. Balances, currencies, interest and transactions are simulated. They have no cash value, cannot be exchanged for money or goods outside your organization, and are not a deposit, an investment or a payment service. VirtuBank is not a bank and is not regulated as one.
2. Your account
You need an account to use VirtuBank. You must give an email address you control, and keep your sign-in details to yourself. You are responsible for what happens under your account.
You must be old enough to agree to these terms where you live. If you are setting up an organization for children — a family bank, a classroom — you are responsible for the people you invite into it and for what they do there.
3. Organizations, and who controls them
Whoever creates an organization is its Founder and controls it. They decide who joins, what its currency is, what things cost, and what other staff are allowed to do.
If you join somebody else's organization, they can see your balances and history in it, pay you, charge you, and remove you. They cannot see your balances in other organizations, and they cannot see your account outside VirtuBank.
4. What you may not do
- Present a simulated balance as real money, or use VirtuBank to take actual payment from anybody.
- Use it to launder money, evade tax, or disguise real transactions as pretend ones.
- Impersonate a real bank, business or person, or name an organization or currency to suggest you are one.
- Harass anybody, or use organization names, currency names or transaction notes to abuse people.
- Break into the service, other people's accounts, or the accounts of organizations you are not in.
We may suspend or remove an account or an organization that does any of these. Where we can, we will say why.
5. Paying for VirtuBank
Organizations with three members or fewer are free. Larger ones are charged monthly based on how many members they have and how much they use it. Prices are shown before you are charged, and you will be told before a price changes.
Charges are for the service itself. They are unrelated to any simulated currency inside your organization.
6. Your content
What you put into VirtuBank — organization names, currency names, transaction notes — stays yours. You give us permission to store and display it so the service can work, and nothing more.
7. Ending it
You can stop using VirtuBank and delete your account whenever you like. Deleting your account removes your personal details; the organizations you founded and the transaction records inside them may remain for the other people in them, since those records are theirs too.
We may end your access if you break these terms, or if we stop running the service. If we shut down, we will give reasonable notice and a way to export what is yours.
8. What we do not promise
VirtuBank is provided as it is. We work to keep it available and correct, but we do not promise it will be uninterrupted or free of errors, and we are not liable for losses arising from using it — including any loss of simulated balances.
Nothing here limits liability that cannot be limited by law, such as for death or personal injury caused by negligence, or for fraud.
9. Changes to these terms
We may change these terms. If a change materially affects you, we will tell you and ask you to agree again before you carry on. The version and date at the top say which terms you agreed to.
10. Law, and getting in touch
These terms are governed by the laws of the Province of Ontario and the federal laws of Canada that apply there.
Questions about these terms: legal@virtubank.ca.