• Last Updated:
  • Aug 9th, 2017 11:10 am
[OP]
Newbie
Dec 13, 2005
4 posts
Toronto

Moneris Cancellation Fee

Does anyone know if I am required to pay the ECF with moneris if my business is closed? I was told directly by them i had to and they could not remove it. But I was just told by someone else that I DO NOT have to pay it if I sell or close the business.

Anyone know?
2 replies
Deal Addict
User avatar
Aug 16, 2009
1357 posts
241 upvotes
I'm no longer in the payment processing industry and never worked for Moneris. In most situations the merchant was always on the hook for the cancellation, this includes selling or closing the business. The only time that I recall we waived the cancellation fee, was if they were changing processors (IE moving from Elavon to Global Payments). We were a third party reseller so we would eat the cancellation cost if the merchant was going to expand their footprint with us (IE buying more machines).

How long have you been with Moneris? If its beyond the 3 year agreement, you might not be on the hook.
Jr. Member
Feb 18, 2014
137 posts
21 upvotes
Moneris just sent out a notification (as did all providers) for a MasterCard increase. As such, you are free to exit your agreement at no cost. Moving forward, Moneris has eliminated their cancellation fee, and replaced it with a "terminal re-stocking fee". It is $50 per unit up to 5 units.

Top