Payment Policies

 

  • The credit card on file must be in the same name and address as the CarShare account.
  • The card on file must be a valid credit card. We do NOT accept prepaid cards, gift cards, Visa/MasterCard debit, and other debit cards.
  • Your credit card will be billed the complete cost of your trip, including total time, kilometres and fees, after your trip. The estimated amount for reservations may be billed up to 48 hours prior to the reservation start time. Additional fees, such as tickets, cleaning, damage or late fees will be charged as they are processed. 
  • Unsuccessful credit card payments may be assessed a fee. A reduced account limit and a security deposit may be required. For details, see below.
  • Existing Members who no longer have a credit card and who wish to pay with a cash equivalent form of payment (no credit card) may do so by presenting qualifying payment information in person. For details, see below. 
  • Members may be required to validate their identity and credit card in person at the CarShare office or at select Enterprise Rent-A-Car locations.
  • Monthly fees, if applicable will be charged in the first week of the month.
  • Annual memberships and the full damage waiver program renew automatically. When applicable, they will be charged upon the anniversary month of the opt-in date. 

 

Security Deposits and Account Limits

  • Accounts have an account limit that determines a maximum amount allowed for future reservations and all outstanding charges. If the account limit has been exceeded, future reservations could be cancelled unless a payment is processed to reduce the balance below the account limit amount.
  • The account limit for new members is $300. Members may request to have the account limit increased if there have been no payment issues and more than five successful payments on the account over the initial three months. The account limit will remain at $300 for any member with an out-of-province driver's license or an address more than 50 km from our vehicles.
  • Any payment issue may result in reducing the account limit to $100 and requiring an initial security deposit of $150. Members may request to have the account limit increased and the deposit returned if there have been no payment issues for the preceding six months and more than ten successful payments since the last payment issue.
  • Members requesting a higher account limit may do so by increasing the security deposit to an amount equal to the increase requested for the account limit ($500 account limit requires a $550 security deposit).
  • Security deposits are non-interest bearing and held separately from transactions. They are only used to cover an outstanding balance if the primary payment method cannot be processed. Any outstanding account balance more than 30 days past due may be paid using the security deposit amount. The security deposit amount must be replenished to the previous balance or higher before any future trips may be booked.
  • If an account is closed, the security deposit amount will be used toward any outstanding balance plus any fines, tickets or fees received after the account is closed. The remainder of the security deposit will be returned to the CarShare account holder three to four months following the request to close the account.
  • For the purpose of security deposits and account limits, payment issues include any of the following:
    • Any payment that cannot be completed by the credit card processor regardless of the reason
    • Applying with or changing the card on the account to a card that is not in the name of the primary member (account holder)
    • Applying with or changing the card on the account to a prepaid card, gift card, or debit card (including VISA/MasterCard debit)

Cash Equivalent (no credit card) - for existing Members only 

In order to remain a member using a cash equivalent form of payment (no credit card), you may be asked to visit our local office at 65 Regent Park Blvd., Toronto, Ontario, M5A 0K7, to provide the following documentation and payment: 

  • Verifiable home, work and cell phone numbers;
  • Proof of local home address (utility, cable, or phone bill, auto insurance bill, etc)
  • Proof of employment (recent paystub or contact info for verification by phone).  If unemployed, a second type proof of home address is required;
  • Ontario driver's license required (members wishing to pay with a cash equivalent payment type may not do so if using an out-of-province driver license); and
  • A bank account is required and a voided cheque provided
  • A security deposit in the amount of $500 is required (payable by debit card in our office, we do not accept cash). This security deposit is refundable three to four months following the request to close the account. The security deposit is not applied toward rental. The cost of each vehicle rental must be pre-paid prior to the commencement of the rental period.
  • An account limit of $50 will be set for the account.
  • You must make prepayments (debit card, online bill payment) which will be credited to your membership account within one to three business days.
  • The complete cost of your trip, including total time, kilometres and fees, will be deducted from your account. Please prepay sufficient amount in anticipation of additional fees such as monthly/annual fees, tickets, cleaning, damage or late fees will be charged as they are processed.