Paying ahead of schedule and cancelling an agreement are different actions. Confirm the applicable rights, the amount required and the collection arrangements before making an early payment.
Ask for the current amount and method
Request a dated payoff figure and an explanation of any charges. Ask which payment methods are accepted and when a payment will be credited. Do not send funds through an unverified link supplied in an unexpected message.
Check full versus partial payment
A right or procedure for full repayment may not answer how a partial payment is handled. Ask whether a partial amount changes the schedule, the remaining balance or any authorization already in place. Obtain the answer in writing.
Avoid payment confusion
If a scheduled debit exists, ask how it will be handled after the separate payment. Keep the receipt and check the statement. Read pre-authorized debit guidance without assuming that a payment automatically cancels an authorization.
Use the local rule
Start with provincial guidance and the actual agreement. The borrower-rights page provides a route to relevant protections; this page does not state one universal refund or partial-payment rule.
Keep the record
Retain payoff correspondence, receipt and balance confirmation with the loan agreement. If a balance is disputed, use the complaint guide rather than assuming the account is closed.