Don’t Be Haunted! 5 Ways to Pay Your Closed Account

Posted On 26 October 2023

Last updated on April 4th, 2024

There are a lot of different reasons why we would want to close an account with a company. Maybe we’re moving. We might find a better deal with a competitor. A new job can also get us to change the companies we work with. The challenge comes when with paying the closed account.

During the five years that I worked in an electronics store selling phones I heard stories from people that had trouble leaving their old provider. Let me tell you two stories about headaches closing cell phone accounts. The first one we experienced ourselves, the second one happened to a friend of ours.

Account Access Ended

My wife and I got our first smart phones the end of November 2012. She was the one who was interested in getting a phone, I wasn’t. The plan price was discounted due to the holidays, and we didn’t have to pay anything in the store. I agreed.

We had a good time learning how to use our new phones. They were HTC Desire C phones, so not awesome. Still, we enjoyed them. In January I got a job working at an electronics store selling phones! If we had not gotten those cheap little phones, I might not have gotten the job.

One of the perks of the job was that I could get a phone on the corporate plan. At first, I was resistant. We had just signed a 3-year agreement with another company. In February, I got a Samsung Note 2 with Telus. The screen was twice the size of the Desire C!

Our daughter got to use my old phone and number. Things continued for a while, then there was a deal where my wife could get a Note 2 on a monthly plan that was only a little more than she was currently paying. We ended up moving both numbers to Telus, which cancelled our Virgin Mobile account.

Virgin cancelled our online account access immediately! My wife could not get the total owed talking with Virgin on the phone. They just said we needed to look at the bill – which was available online! We went to the store to see if they could get a copy of the bill for us, but they would have to charge us for printing a copy!

The store was finally able to call Virgin and my wife was able to pay with her credit card over the phone. It was a very frustrating experience for us! We are not the only ones with bad experiences paying a closed account.

The Card Has to be In Your Name

A friend of mine had a cell phone plan with Telus. He found that he could get the same service for 60% less with Koodo! So, he switched. That was the easy part. Telus contacted him about making his final payment. The agent only mentioned paying with a credit card, but it had to be in his name. He didn’t have a credit card since he was only 19 years old at the time.

He wanted to pay, but he was not given a viable option to pay the bill. It ended up going to collections! He was able to pay the collections company, but that negative mark stayed on his credit report for 7 years! Don’t let this happen to you.

At Canoosa Finance I am not here to complain, but to provide solutions to problems. Here are five solutions for how you can pay your final bill on a closed account. Now, you have some options!

If you are reading this BEFORE you switch to another company, print (or save) a copy of your bill. That way you will have your account number. Also, check your account for the current amount owing before you cancel your service.

Solution #1: Pay With Your Card

This is the easiest way to take care of that final bill. It can be either a credit card or a debit card, but it must be in your name and run on either the MasterCard or Visa system. Interac is not accepted! It can be frustrating but be persistent.

You will have to call the company and talk with someone to pay with your credit or debit card. Some companies have an option to pay a bill without logging in. You will need your account number. Rogers/Shaw has a way to Pay Without Signing In. If you are not able to pay with a card, check out solution number two.

Solution #2: Bill Pay at The Bank

If you have your account number and the balance owed, you can use the bill pay feature that banks offer. Bring your bill with you. This can be done in the bank, at the ATM, online, or on the app. Unfortunately, for my friend he was not told that he could pay a bill at the bank.

When you set up a payee, make sure it is the correct business! Telus, for example, has separate businesses for their home services and mobility. Some companies can have separate businesses for each province. Just pay attention.

After you have added the payee, you can then pay your bill owing on your closed account. If you are not able to use bill pay at the bank, there are some other options available to you. The following solutions will cost you, though.

Solution #3: Good Old-Fashioned Mail

Yes, you can send in your last payment by putting the remittance stub from your bill in an envelope with a check, money order, or bank draft. Go to the post office and mail it to the company.

Make sure that your account number is written on the check. The address to send the payment should be listed on the bill. If you get your bill through email, you should be able to print out a copy of your bill. Alternatively, you can get the address from the company’s website, or your can call customer service.

If you don’t have a bank account, you can get a MoneyGram from Canada Post. It needs to be made out in the company’s name and you need to make sure that your account number is written on the MoneyGram.

Solution #4: Pay at a Corporate Store

This can only be done at a corporate store – not a dealer! If you were to pay your Telus bill at Best Buy, the payment would go to Best Buy, not Telus. To use this option, you must live in an area where there is a store available. You should be able to make the final payment on your closed account with either cash or card.

Solution #5: Money Mart & Western Union

Money Mart has a bill payment service. They charge $1.99 to pay a bill so you can pay your closed account this way. Bring your bill in with you so that you have all the information you need. When you go to a Money Mart location, you can pay with either cash or a debit card. They also work with Western Union. If you don’t have a Money Mart in your area, there may be a Western Union location.

Western Union has a program called “Quick Collect” that allows you to pay a bill. You would need to bring cash for the payment plus their fee. The exact business is needed (just like with adding a payee at the bank). Your account number is needed on the form as well.

Western Union Quick Collect will go through in an hour or so. Yes, you have to pay a fee to use their service. This should be your last option. Just remember that it is less expensive to pay a fee than to have a big negative mark on your credit report.

Dear Canadian Telecoms

I understand that you don’t want to see customers leave. Here’s the thing, the goodbye is the last thing they will remember! Do you really want it to be a bitter experience? When a customer calls in to cancel feel free to try talking them into staying with you. If that does not work, let them go.

To make the parting a better experience, why not keep their online account access active for 60 days after cancellation? That way they can pay the balance of their closed account online. By making the farewell go smooth, they might have a better opinion of your company.

Don’t Leave Loose Ends When Moving On

It doesn’t matter why you choose to stop doing business with a certain company. When you do move on, make sure that you get the old account paid in full so that it does not haunt you. Part of being financially durable is knowing multiple ways to take care of things. You don’t need to use all of them, just knowing and being able to use different methods of accomplishing things will give you confidence and stability.