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Payment and transaction FAQ

Questions about credit card payments and transactions? Learn more about these topics and pre-authorized payments, too.

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Credit card payments

How are the payments I make on my credit card applied?

Payments are applied to the full balance on your credit card account in the following order:

  1. Interest posted to your account statement
  2. Monthly payments for Accord D financing and for pay in installments, other monthly payments posted to the account statement and RRSP financing
  3. Cash advances, cheques and regular purchases posted to your account statement (in decreasing order of applicable annual interest rate)
  4. Cash advances and cheques that have not yet been posted to your account statement (in decreasing order of applicable annual interest rate)
  5. Regular purchases that have not yet been posted to the account statement
Why is the minimum payment for my credit card 5%?

Since August 1, 2019, the minimum payment is 5% for all new credit cards. This Consumer Protection Act measure helps prevent debt problems and encourages sound use of credit. A 5% minimum payment means credit card balances get paid faster, resulting in less interest.

While this law is only applicable in Quebec, note that minimum payments have increased across Canada.

Credit card transactions

Can I be charged extra by a merchant for using my credit card?

Yes. Merchants can add a surcharge to credit card transactions made outside of Quebec.

Can merchants require me to show my ID when I pay with my credit card?

Yes. Merchants can ask for ID when you make a credit card purchase. Checking your ID is a way for merchants to verify that you're the cardholder and help prevent fraud. They might also ask to check the signature on the back of your card.

There is no obligation to show ID when you make a credit card purchase. However, merchants are free to refuse the transaction if you choose not to present your ID.

Pre-authorized payments

I would like to pay my credit card automatically each month. Is this possible?

Yes. You can set up an option to automatically pay all or part of your credit card balance. Each month, the amount corresponding to your choice of payment is automatically withdrawn from your account.

You can register for authorized payments on AccèsD using a web browser. This feature isn't available in the mobile app.

On AccèsD
  1. Log in to AccèsD.
  2. Select your credit card.
  3. Select Manage card.
  4. Select Manage account.
  5. Under Account management, select Add options.
  6. Select Authorized payment.
  7. Follow the instructions.
By mail

Fill out the authorized payment registration form online and then mail it back to us.

Fill out the authorized payment registration form

I use the authorized payment service for my credit card. If I make another payment during the month, will the pre-authorized amount still be debited from my account?

It depends on the amount of your additional payment and the type of pre-authorized payment option you selected:

  • Minimum payment due
  • Set amount
  • Full balance

If you make an additional payment, do so at least 2 business days before the due date on your statement. Otherwise, it might not get considered when calculating the pre-authorized payment.

Factoring in additional payments can be complex and depends on your particular situation. If you want more details, call us at 514-397-4415  Phone number of the card services customer service for the Montreal area. This link will launch your default phone software. or at 1-800-363-3380  Phone number of the card services customer service for Canada and the US. This link will launch your default phone software..

How can I cancel a pre-authorized payment agreement I have with a merchant?

Contact the merchant to end the pre-authorized payment agreement. Merchants have their own cancellation terms and conditions. Make sure to keep a copy of the cancelled agreement.

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