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Payment
**ALL PAYMENTS ARE MADE THROUGH A FINANCIAL INSTITUTION**You may make payment at any branch in Canada of: Bank of Montreal Royal Bank CIBC Scotiabank HSBC Bank Canada TD Canada Trust National Bank of Canada most credit unions
Telephone or Online
You may pay using TELEPHONE or ONLINE banking if your financial institution offers this service. Just call your financial institution’s telephone or online banking service and provide them with your account number and the name "University of Toronto". Your account number is printed in a box located on the top right-hand corner of your paper invoice and is also displayed on the invoice format of your account on the Student Web Service. It consists of the first five characters of your surname (in capital letters) and 10 numbers which is your student number with leading zeroes. Make sure you distinguish between the letter "O" and the number "zero".
Bank Machine or Teller
You may pay at a BANK MACHINE or at a TELLER. Use the remittance section of your invoice. Keep any extra remittances for making subsequent payments. A remittance slip can be used for any payment, not just for payment of the invoice to which it is attached.
Make sure you keep your receipt or your verification/confirmation number. It is your proof of payment and will be requested to follow up on any payment problems.
If you pay at a bank machine or teller it normally takes 5 business days, sometimes more, for the payment to be processed by the bank and the amount updated to your University account. If you pay using telephone or internet banking it will take 3-4 business days for the payment to be posted to your account. If you check your account using the Student Web Service and do not see the payment posted to your account, check again in a few days. There are daily updates from the bank to the University. All payments are applied to the charges on your account according to the algorithm of "oldest first ". This means that the oldest outstanding charge in the oldest session will be cleared first; there is no distinction between the type of charge, e.g. residence fees, academic fees etc.
If you do not have an account at one of these financial institutions, you may still make a payment at the teller with cash, money order, or certified cheque.
Outside of Canada
University of Toronto students normally pay tuition fees at a branch of a financial institution (bank) in Canada. If you need to make payment from outside Canada, here is the preferred method by which you may send money to the university. All payments must be accompanied by the student's name, student number and (if possible) his or her program of study.
Travelex Bank to Bank Transfer (New Payment Option). This option allows students to pay the Canadian dollar payment in the currency of choice at a local bank at a competitive exchange rate and with NO transaction charges from Travelex or the University of Toronto.
This option is not available for admission, acceptance, confirmation deposits for graduate and some undergraduate academic programs and all residences. Deposit payment instructions are included in the correspondence provided to students who are required to make these payments.
If you choose to proceed, you will be transferred to a secure website
where you will receive instructions on how to complete the payment to
a local banking institution in your currency of choice.
• After providing your student name and number you will be directed to
a web page where you will be able to enter in the Canadian dollar amount
you wish to pay to the University of Toronto.
• The amount being transferred to the University of Toronto should be
for tuition, residence and other Student Account charges. This option
is not available for admission, acceptance, confirmation deposits for
graduate academic programs and all residences.
• You will then select from a drop down menu your preferred payment currency.
A conversion at a competitive rate of exchange from the Canadian dollar
amount will be applied to your chosen currency through the Travelex real-time
rate engine. You will have the opportunity to view the payable amount
in your local currency before committing to the transaction. To proceed
with the transaction simply click OK and you will be presented with the
banking instructions to make the payment. You need to proceed to your
bank immediately to ensure that the payment is transferred to Travelex
within 72 hours.
• The exchange rate quoted will remain valid for 72 hours during which
time you or the payer must take the banking instructions to your bank,
who will initiate the transfer of funds through Travelex for credit to
the University of Toronto.
• Travelex must receive your payment within 72 hours of your receipt of
the applicable currency quote. In the event Travelex receives your payment
after the 72 hour period Travelex shall use the current exchange rate
to convert the currency.
• On receipt of the funds your Student Account will be credited. While
the transfer is in progress your account will continue to show the outstanding
amount. This normally takes 2 business days from the date or receipt of
funds in the University of Toronto bank account.
Click
here to begin the process of Travelex bank to bank transfer.
Or for further instructions key into to your web browser:
www.fees.utoronto.ca/Assets/Student+Accounts+Digital+Assets/Student_Accounts/travelex3.pdf
Note:
- Sometimes students may be asked by the Canadian Embassy or Consulate in their home countries to pay tuition fees in advance of a student authorization being granted, especially if there is a limit to how much money the student is allowed to take out of the country. If the timing is such that the University has not finalized the tuition schedule for the coming session or the fees invoices have not yet been issued, the university can provide students with an estimate of the fees payable based on the previous year's fees. It is possible for students to send a lump sum payment to the university, which will be held until actual tuition for the session is assessed. A receipt will be issued which the student can use as proof that tuition has been paid.
More information on payment ->
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