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How to pay your premium: card or Interac e-Transfer

How to pay for Padder Guarantor or Padder Deposit: accepted methods, timing, and receipts.

For Padder Guarantor and Padder Deposit, you pay through the secure checkout in your Padder account. The premium is paid once for the lease by the primary applicant. All amounts are in CAD. Your total is the one-time premium plus 8% Ontario Retail Sales Tax. Card payments also show the 2.4% processing fee before you pay.

Accepted payment methods

  • Interac e-Transfer (free, recommended). No processing fee. At checkout, click "Generate reference code" to get your unique code (it looks like PADR-XXXX). Send your transfer to payments@padder.com with the code in the message field. Auto-deposit is on, so no security question is needed. Then click "I've sent the transfer". We confirm receipt within 48 hours and your policy activates once payment is confirmed and everyone on the lease has signed.
  • Credit or debit card. A  2.4% processing fee applies and is shown before you pay. Your card details are handled through our secure checkout.

When you're charged

  • e-Transfer: you send the funds yourself, then click "I've sent the transfer". We confirm receipt and match it to your reference code within 48 hours, so this is not instant.
  • Card: for Padder Guarantor, a card payment is placed on hold rather than charged right away, and is only completed once every leaseholder on the lease has signed. For a standalone Padder Deposit application (one signer), your card is processed when you complete checkout.

When your policy becomes active

Your policy moves to active once the full premium is paid and everyone on the lease has agreed to the Padder policy terms by signing their agreement.

Receipts

Once your payment is confirmed, your checkout page becomes your receipt. It shows your premium, the 8% Ontario Retail Sales Tax and, for card payments, the processing fee, along with your policy number. When your premium is paid and all agreements are signed, your Padder policy documents are emailed to you for your records. If you ever need another copy of your policy documents, email underwriting@padder.com.

For the full step-by-step, see How checkout works for Padder Guarantor or How checkout works for Padder Deposit.