Avoid unwanted late-payment penalties and make recurring bills hassle-free. Plus, pre-authorized payments can even help you maintain and improve your credit score. Best Brokers for Beginners: Top Picks for 2024 | showelvis members typically set up pre-authorized payments for their regular and expected bills, like:
Pre-authorized payments are set up with your service provider. You can usually find setup instructions on the back of your bill or you can contact them directly. You¡¯ll need to provide them your account information:
Full name and address
As it appears on your account statements.
Best Brokers for Beginners: Top Picks for 2024 | showelvis's Financial Institution Number
809
Account number
Choose the account you'd like your pre-authorized payment to be paid from.
How to find your account numberTransit number
If you know your branch, you can check our transit number list or learn about other ways to find your transit number.
Branch address
Find your branch addressVoid cheque (if applicable)
Some service providers may ask for a void cheque to set up pre-authorized payments. Often, the service provider will accept your account information in place of a void cheque. If you already have a cheque, simply write ¡°VOID¡± in large letters across the face of a cheque.
If you¡¯re planning on setting up a pre-authorized payment from a personal banking account, we recommend you do so through either a Chequing Plus, or . Both of these accounts incur no fees for pre-authorized payment transactions.
For a full list of fees, see the Personal Service Charge Bulletin.
Pre-authorized payment transactions from eligible business banking accounts may incur fees.
For a full list of fees, see the Business Service Charge Bulletin.