ACORN Mastercard or Visa Credit Card Payment Convenience Fee Increase to 2.25%

The University of Toronto has partnered with Moneris (service provider) to provide students with an online non-refundable credit card fee payment option.  The Mastercard and Visa Canadian Dollar fee payment service is only available on ACORN and includes a separate and non-refundable convenience fee collected directly by Moneris.  The credit card convenience fee is the non-refundable cost of making an online credit card fee payment.

The convenience fee has increased from a rate of 1.75% of the fee payment amount to 2.25% and is paid directly to the service provider, Moneris, and not to the University of Toronto.  This is the first Moneris rate increase in over four years due to increasing service costs.

The convenience fee will be displayed as a separate charge on the online credit card payment receipt, and the card holder’s credit card statement.  The credit card statement description will be displayed as “STUD ACCTS – CONVENIENCE FEE”.

There are other payment options that do not include a convenience fee.