Teraview® Deposit Account vs Electronic Registration Bank Account
Here is a quick reminder on how payments for the Teraview Gateway take place.
Teranet sets up a Teraview Deposit Account for each firm or company who is a Teraview client. This account holds funds that will pay for any fees incurred for title searching and Writs. For example, parcel registers and document copies are fees that are removed from your Teraview Deposit Account. To add funds to this account, you can have your Account Administrator use the ‘Top-up’ feature in Teraview. Many of our customers enjoy the convenience of this feature, which allows for fast and efficient replenishment of your Teraview Deposit Account. Alternatively, a cheque can be sent to Teranet Inc. for replenishment of your Teraview Deposit Account.
The Electronic Registration Bank Account covers all registration fees, Retail Sales Tax and Land Transfer Tax, upon successful registration. It is your Account Holder’s responsibility to sustain a positive balance in your Electronic Registration Bank Account, at your financial institution. Teranet does not maintain this account for customers.
Additional information can be found in your Teraview Reference Guide or call the Teranet Customer Service Centre at:
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