Moneris is a Canadian payment processor that signs its merchant agreements on behalf of RBC and BMO, and it makes the most sense for businesses that already bank with one of them and want next-day deposits, a flat 12¢ Interac rate, and a large Canadian provider. New or small businesses should plan around three points: its terminals are rented, its standard agreement runs three years, and ending the agreement carries a $300 fee per location.
This review covers what Moneris costs in Canada, what the contract means in practice, how to exit cleanly, and when Helcim or Square fits better. For a side-by-side view of all three, see our Square vs Moneris vs Helcim comparison.
How we evaluated
This review is research-based: we did not open a Moneris account or process payments with it. We read Moneris's pricing page, its Moneris Go, Go Retail, Go Restaurant, Tap to Pay, Moneris Online, and QuickBooks integration pages, and the full April 2026 Moneris Merchant Agreement Terms and Conditions. We checked merchant rights against the Financial Consumer Agency of Canada (FCAC). All prices are in Canadian dollars, exclude taxes, and were checked in September 2026.
We weighed what drives your real cost: processing rates, Interac fees, hardware, incidental fees, deposit speed, and, more than for most processors, the contract terms.
Pricing in Canada
Moneris publishes one fixed-rate plan and bundled rates for its POS software, and it quotes interchange-plus pricing privately. Here is what is published.
| Feature | Flat Rate | Go Retail POS | Go Restaurant POS | Simplified Pricing |
|---|---|---|---|---|
| In-person credit | 2.65% + 10¢ | 2.45% + 10¢ | 2.35% + 10¢ | Interchange + quoted fee |
| In-person Interac debit | 12¢ | 12¢ | 12¢ | Quote-based |
| Online or phone credit | 2.85% + 30¢ | Not stated | Not stated | Interchange + quoted fee |
| Online Interac debit | $1.00 | Not stated | Not stated | Quote-based |
| Software per month | None listed | $10.00 | $29.99 | Not published |
| Moneris Go terminal rental | $34.95/mo | $34.95/mo | Included in $64.94/mo bundle | $34.95/mo |
| Rates published |
Flat Rate is the plan most small businesses can sign up for online. Moneris says it applies one rate to American Express, Mastercard, Visa, UnionPay, and Discover/JCB, so Amex costs the same as Visa, and it includes fraud tools (Kount, 3-D Secure, tokenization) at no extra cost. Cards issued outside Canada add a 0.80% foreign card payment fee. One FAQ on the same pricing page lists in-person Interac at 10¢ rather than the 12¢ in the rate card; we use 12¢, and you should confirm the figure in your agreement.
Go Retail and Go Restaurant pair Moneris's POS software with lower credit rates. A new Go Retail customer pays $10/month for software plus $34.95/month for the terminal, or $44.95/month, and a footnote says a $5/month software access fee may apply. Go Restaurant is $64.94/month with the terminal or $29.99/month if you already have one, and it needs an iPad (Moneris sells one for $499.99). Moneris is advertising 50% off annual rental fees for a limited time; that is a promotion, not the list price.
Simplified Pricing is Moneris's name for interchange-plus. You pay interchange, network assessment fees, and a Moneris transaction fee based on your business type and volume. The transaction fee is not published, so pricing is quote-based.
Incidental fees
Moneris lists these incidental fees on its pricing page: a $25 chargeback fee, $80 authorization chargeback handling, a $5 Moneris Go software fee, a $5 minimum merchant discount rate, a $2 paper statement fee, a $2.50 aged close batch fee, and an 8¢ dial communications fee. The page does not say how often each one applies, so ask for that in writing before you sign.
Tap to Pay on a phone
Moneris supports Tap to Pay on iPhone (XS or later) and Android (Android 11 or later) through the free Moneris Go app. Its Tap to Pay pages list credit at 2.45% + 10¢ and debit at 0.70% + 12¢, so debit on a phone is a percentage, unlike the flat 12¢ on a terminal. Taps are limited to the cardholder's contactless limit, which Moneris says is typically $250.
What does Moneris cost per month? A worked example
On a sample mix of $20,000 a month in person, Moneris Flat Rate charges $424.00 in processing, or $458.95 with a rented terminal. This uses the same assumptions as our three-way comparison:
- $14,000 of in-person credit across 350 sales ($40 average)
- $6,000 of Interac debit across 150 sales ($40 average)
- No chargebacks, foreign cards, or incidental fees
| Feature | Flat Rate + terminal | Go Retail POS |
|---|---|---|
| Credit, percentage | 2.65% × $14,000 = $371.00 | 2.45% × $14,000 = $343.00 |
| Credit, per sale | 350 × 10¢ = $35.00 | 350 × 10¢ = $35.00 |
| Interac | 150 × 12¢ = $18.00 | 150 × 12¢ = $18.00 |
| Monthly fees | $34.95 terminal | $44.95 software and terminal |
| Total | $458.95 | $440.95 |
On the same mix, Square's published rates come to $405.50 with no monthly fee, and Helcim's markup comes to $102.75 plus interchange. Moneris's Interac line is where it competes: $18.00 on $6,000 of debit, compared with $55.50 at Square's 0.75% + 7¢.
The Moneris contract: what it means in practice
The standard Moneris agreement has a three-year initial term, renews every six months after that, and carries a $300 fee per location whenever it ends. Those three facts, all from the April 2026 terms, matter more to your total cost than a tenth of a percent on the rate.
Three-year initial term. The agreement starts on its effective date and runs for three years. The agreement also says you accept it when you first use Moneris's services.
Automatic renewal. After three years, the agreement renews for successive six-month terms unless any party gives notice at least 45 days before the current term ends. Without notice in that window, the agreement continues for another six months.
$300 deactivation fee per location. When the agreement ends, for any reason, you pay $300 for each location processing with Moneris. Two stores means $600; three means $900. The fee applies even if you leave at the end of a term, so budget for it from day one.
Rented equipment. You pay terminal rental monthly in advance from the day Moneris ships it, and rental continues until Moneris receives the equipment back. You return it at your own expense, and anything not returned or returned in unacceptable condition is charged at replacement cost.
Holdback. When either side gives notice to end the agreement, Moneris or its bank partner holds back an amount to cover possible chargebacks, fines, or fees, and pays you the rest of your settlement funds. You get the holdback when nothing is left owing.
Moneris can end it too. Moneris may terminate at any time with written notice, and it lists grounds for suspending service, including six months with no processing.
The standard terms we read do not set out a right to cancel mid-term simply because you want to switch, and they do not list a separate early termination fee beyond the deactivation fee. If you might leave before three years are up, ask Moneris in writing what that would cost before you sign.
How to exit a Moneris agreement
You can leave Moneris cleanly at the end of a term, or without penalty after certain fee changes. Here is how each route works.
At the end of a term. Send notice at least 45 days before the initial term or a renewal term ends. The agreement says merchant notices go by prepaid registered mail to Moneris Solutions Corporation/Bank of Montreal/Royal Bank of Canada, 195 The West Mall, Etobicoke, Ontario M9C 5K1, and mailed notices are deemed received 5 business days after mailing, so send it well before the deadline. Then return the terminal, pay the $300 per location, and expect a holdback.
After a fee change (no penalty). You may cancel without penalty if Moneris raises an existing fee (other than under a pre-set fee schedule in your agreement), adds a new fee, or does not fully pass on an interchange reduction. You must act within 70 days of the change, the cancellation takes effect on the date you request if it is at least 30 calendar days after your notice, and you must have returned rented equipment.
Your rights under the Code of Conduct. The FCAC says processors must give you 30 to 60 calendar days' notice of fee changes and cannot sign you up for new services without your express consent. You can tell your processor you do not want to renew at least 45 calendar days before your agreement is set to renew, and a fixed-term agreement can only renew automatically for periods of 6 months or less. Your monthly statement must show your effective merchant discount rate and your transaction counts and volumes by payment type. Our Square vs Moneris vs Helcim comparison covers these rights in more detail.
This is general information, not legal advice. If a contract term is unclear or a large fee is at stake, have a lawyer or your accountant review the agreement for your situation.
Deposits: next-day with BMO or RBC
If you bank with BMO or RBC, Moneris offers next-day deposits, and its pricing page says you see the balance the next day even if it is not a business day. For other banks, the standard agreement commits to reasonable efforts to settle within two business days of a batch close.
That bank link is the main practical reason to choose Moneris. Our business bank account review notes that some RBC and BMO business plans include unlimited Moneris deposits, which is worth checking when you compare accounts.
Online payments, POS, and accounting
Moneris covers online sales and bookkeeping, and each piece is priced separately. Here is what is published.
- Moneris Online: a website and online store builder with Wix-designed templates, charging 2.85% + 30¢ per credit transaction. Monthly billing is $32 (Core), $46 (Complete), or $160 (Advanced), with a one-month free trial that Moneris labels a limited-time offer; annual billing works out to $19, $28, or $105 a month.
- Go Retail POS: inventory with product variants and a barcode scanner, gift cards, tips, tax settings, and customer profiles, running in a browser on a phone, tablet, or laptop.
- Go Restaurant POS: order and menu management, employee permissions, and kitchen display support. Moneris states it is not available in Quebec or in French.
- QuickBooks Online integration: an overnight sync of sales into QuickBooks Online for $9.99/month or $99/year, with a 60-day free trial, designed for single-location businesses.
If you mainly sell online, compare platform-bundled payments in our guide to starting an online store in Canada. For full POS options, see our best POS systems in Canada review.
What we like and what to know
Moneris's strengths are its bank ties, flat Interac fee, and published Flat Rate that includes Amex. Keep in mind the three-year contract, rented hardware, and a flat markup that stays the same when interchange falls.
Moneris
Strengths
- Published Flat Rate that includes Amex at the same rate
- 12¢ in-person Interac on terminals
- Next-day deposits with BMO or RBC, including non-business days
- Lower bundled credit rates on Go Retail (2.45% + 10¢) and Go Restaurant (2.35% + 10¢)
- Fraud tools included on Flat Rate
- Interchange-plus available on request
Good to know
- Standard agreement has a three-year initial term with automatic six-month renewals
- $300 deactivation fee per location when the agreement ends
- Terminal rented at $34.95/month until returned
- Interchange-plus pricing is quote-based rather than published, so ask for a Simplified Pricing quote
- Online Interac costs $1.00 and phone Tap to Pay debit is 0.70% + 12¢
- Go Restaurant POS is offered outside Quebec and in English
Moneris
Who Moneris is for (and when another processor fits better)
Moneris fits established businesses that bank with RBC or BMO, take enough volume to negotiate, and plan to stay put for three years or more.
Moneris is a good fit if you:
- Bank with RBC or BMO and want next-day deposits, including on weekends
- Run an established retail store or restaurant with steady volume and no plans to switch soon
- Process enough to ask for a Simplified Pricing quote and compare it with the Flat Rate
- Take a lot of in-person Interac, where the flat 12¢ fee stays low on large tickets
Pick Helcim instead if you want the lowest published cost and no contract. Helcim charges interchange plus 0.40% + 8¢ in person on its first volume tier, has no monthly fee, and states there are no cancellation fees. Because it passes interchange through, the October 19, 2024 small business interchange cut reaches you directly, while a flat rate like Moneris's stays the same unless Moneris lowers it. See our Helcim review.
Pick Square instead if you are new, seasonal, or sell at markets and want to buy a reader instead of renting a terminal. Square charges 2.5% on in-person credit with a $0/month Free plan, and says you can cancel your plan at any time. Its Interac rate is 0.75% + 7¢, so compare it on larger tickets.
Alternatives
The closest alternatives are Helcim and Square. Square vs Moneris vs Helcim compares all three on in-person, online, and Interac rates with a worked example, and our Helcim review covers its volume tiers in detail. If you need full point-of-sale software, our best POS systems in Canada review ranks Square, Shopify POS, Lightspeed, TouchBistro, and Moneris Go. If you sell online first, Shopify vs WooCommerce in Canada covers the payment options on each platform.
Our verdict
3.5Moneris is a reasonable choice for established Canadian businesses that bank with RBC or BMO: next-day deposits, a flat 12¢ Interac fee on terminals, a published Flat Rate of 2.65% + 10¢ that includes Amex, and lower bundled rates on Go Retail and Go Restaurant. In return, it asks for a longer commitment: its standard agreement runs three years, renews automatically unless you give 45 days' notice, and charges $300 per location when it ends, and terminals are rented. New, small, or seasonal businesses will usually find a closer fit in Helcim for lower published fees or Square for simplicity, both with no contract.
Frequently asked questions
How much does Moneris charge per transaction in Canada?
On its Flat Rate plan, Moneris charges 2.65% + 10¢ for in-person credit, 12¢ for in-person Interac debit, 2.85% + 30¢ for online or phone credit, and $1.00 for online Interac. Its Go Retail and Go Restaurant POS pages list lower credit rates of 2.45% + 10¢ and 2.35% + 10¢.
Does Moneris have a contract?
Yes. The standard small business merchant agreement (April 2026) has a three-year initial term that renews automatically in six-month terms unless you give notice at least 45 days before the term ends.
What is the Moneris deactivation fee?
The standard agreement says that when it ends, you pay a $300 deactivation fee for each location processing with Moneris. You must also return rented equipment at your expense or pay its replacement cost.
Can I cancel Moneris without a penalty?
Yes, in specific cases. The agreement lets you cancel without penalty within 70 days of a fee increase, a new fee, or an interchange reduction that is not fully passed on to you, as the Code of Conduct for the Payment Card Industry in Canada requires.
How fast does Moneris deposit sales?
Moneris offers next-day deposits if you bank with BMO or RBC, including on days that are not business days. For other banks, the standard agreement says the bank partner uses reasonable efforts to settle within two business days of a batch close.
Sources
- Moneris: pricing (checked September 2026)
- Moneris Merchant Agreement Terms and Conditions, April 2026 (checked September 2026)
- Moneris: Moneris Go terminal (checked September 2026)
- Moneris Go Retail POS (checked September 2026)
- Moneris Go Restaurant POS (checked September 2026)
- Moneris: Tap to Pay on iPhone (checked September 2026)
- Moneris: Tap to Pay on Android (checked September 2026)
- Moneris Online (checked September 2026)
- Moneris: QuickBooks Online integration (checked September 2026)
- FCAC: Merchant rights under the Code of Conduct for the Payment Card Industry in Canada (checked September 2026)
- Department of Finance Canada: Government reduces credit card fees by 27 per cent for small business owners (checked September 2026)
- Helcim: pricing (checked September 2026)
- Square Canada: pricing (checked September 2026)