Can I make extra monthly or lump-sum payments in Canada?

Applies to: Canada.

Yes. For a Canadian account, you can make additional monthly payments or a lump-sum payment toward completing your arrangement sooner.

The amount you can pay without a charge, and the timing of that payment, depend on the prepayment options in your agreement. Some Canadian arrangements allow accelerated monthly or annual payments without a penalty, while paying off the full balance early may involve a charge.

Before sending an extra payment, ask Customer Care to confirm:

• The allowance that applies to your account.
• Whether your proposed amount and payment date would incur a charge.
• How the extra amount will be applied and which payment instructions to follow.

A regular extra payment and a full early payoff should be checked separately.