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Paying Housing Charges by AFT

Automatic Payments

AFT (or automatic fund transfer) allows you to have your monthly housing charges automatically withdrawn from your bank account.

There are several good reasons for you to consider moving to this system:

  • It's easy. Once you set it up with the Co-op office, you don't have to worry about remembering to pay rent again.
  • You no longer have to come into the Co-op office to pay (but please, still come in to say hi).
  • You won't use up any more cheques (we'll only need one to set it up).
  • It can help you plan your finances.
  • For Forest Hill Drive people, you and your housemate can pay separately.

Here's how you get signed up:

  • Visit the Co-op Office to fill out an Automatic Debit of Housing Charges Authorization Form.
  • Complete the Form with your personal information, check the new and on-going box, fill in the amount of your monthly housing charge, and check that you would like for your housing charge to come out of your bank account on the 1st of each month. Be sure to sign and date the form.
  • Bring a blank voided cheque (from the account that you would like to have your housing charge taken from) or a print-out from you bank or credit union with your account information. The Co-op must receive your form and voided cheque at least 7 days before the first of the month.

  • If you need to change the amount of your automatic payment of housing charges or change the bank account your housing charge is paid from:
  • Visit the Co-op Office to fill out an Automatic Debit of Housing Charges Authorization Form.
  • Complete the Form with your personal information, check the change box, fill in the new amount of your monthly housing charge (if required) and check that you would like for your housing charge to come out of your bank account on the 1st of each month. Be sure to sign and date the form! If you need to change the bank account that your housing charge is paid from, include a new blank voided cheque.
  • You don't need to give us a new cheque (unless you need to change the account that your housing charge is being paid from). The Co-op must receive your form at least 7 days before the first of the month.

If you need to cancel the automatic payment of your housing charges:

  • Visit the Co-op Office to fill out an Automatic Debit of Housing Charges Authorization Form.
  • Complete the Form with your personal information, check the cancel box. Be sure to sign and date the form!
  • The Co-op must receive your form at least 7 days before the first of the month.

If you have any questions regarding the automatic payment of your housing charges, or would like to discuss the opportunity further, please give us a call at (519) 824-4950.