TSoM offers several different options for you to conveniently pay your fees:
Powered by the Canadian Imperial Bank of Commerce
As an international student, making payments is faster and easier than ever before. With the CIBC International Student Pay secure online portal, you can now pay your student fees in your preferred currency from anywhere in the world at any time. You do not need to go to a CIBC bank branch or have a CIBC bank account to use this service.
Pay your Tuition Online, with Competitive FX Rates and $0 Transfer Fees!
Use CIBC International Student Pay to pay your tuition and school fees directly online in your home currency and get access to digital payment methods and e-wallets, with over 130+ payment currencies supported, access to the most competitive exchange rates and no transfer fees!
CIBC International Student Pay Supports your Preferred Payment Methods
- Watch the video below to find out more. Also available in French, Hindi, Chinese (simplified), Chinese (traditional)
- Review the step-by-step instructions
- Check out the Frequently Asked Questions
- If you have any questions about the process, please contact CIBC ISP support at [email protected]
Step-by-Step Instructions
- Select either Yes or No under Agent Details.
- Select the country the funds will be transferred from.
- Enter the amount you want to pay in Canadian dollars (CAD). Select Next.
- If you paid via credit card, debit card, China Union Pay or ACH, your payment is complete and no further action is required from you.
- If you paid via bank wire, you have 72 hours to go to your local bank to complete the transfer. You need to bring your payment quote from the CIBC International StudentPay portal.
Benefits of Using CIBC International StudentPay:
- Enhanced student experience: Easily make a payment in your preferred currency.
- Access to live foreign exchange rates: With CIBC International StudentPay you’ll have access to the competitive foreign exchange rates CIBC is providing to the Toronto School of Management (TSoM).
- End-to-end communication: You will receive detailed instructions and have the ability to track the status of your payment through the CIBC International StudentPay platform.
Contact Information
Please contact CIBC International StudentPay Support. They can be reached by:
- Calling from India (toll-free): +1800121661661
- Calling from North America (toll-free): +18446378898
- Calling from anywhere else in the world: +919071373838
- Email: [email protected]
You can see the status of your payment at any time by selecting Track your Payments on the CIBC International StudentPay portal. Please do not contact the college to inquire about your payment unless it has been more than 14 days since your bank sent the payment.
Frequently Asked Questions
What kinds of fees can I pay using this service?
You can use International StudentPay for any education-related costs assigned by your institution, including tuition and incidental (non-tuition) fees charged to your student account.
If I pay in my local currency, will the university receive Canadian (CAD) dollars?
Yes. The full value of your payment is delivered to Toronto School of Management in Canadian dollars (CAD).
How can I find out the amount I owe in my local currency?
Once you have selected your country from the drop-down list, and the amount you want to pay in Canadian dollars (CAD), the quote will automatically display the amount due in your local currency.
What do I do if my currency is not available?
If your currency isn’t available, you can complete your payment in another major currency including USD, EUR, GBP, etc. CIBC offers access to over 120 different currencies.
Do I need to include my Student ID number when I make my payment?
Yes. Including your student ID number ensures that your payment is easily identified and processed in a timely manner.
What do I do if some information was missed by my bank when transferring the payment?
If your bank forgot to include your payment reference number, there is a possibility that your payment will be delayed. Please contact CIBC immediately by email at [email protected]
Please have the following information available:
Student Name
Student ID
Transaction Reference Number
Date of Transaction
Amount
My bank will not allow me to make a payment to CIBC International StudentPay. What can I do?
CIBC is able to receive payments from any international bank. If you are experiencing problems, please contact CIBC International StudentPay for assistance.
Toronto School of Management has authorized CIBC International StudentPay to receive payments on its behalf. Once CIBC has received your payment, they will forward the CAD amount to Toronto School of Management. You will then receive an email notification from CIBC advising you that your funds have been received and processed by the college.
How long do I need to wait before I can obtain another exchange rate quote?
The foreign exchange market is dynamic, and prices are changing continuously. To protect you from this volatility, CIBC is able to offer protection for bank wires for a period of 72 business hours, excluding weekends and Canadian holidays.
Can I pay in a currency other than my local currency?
Yes. We recommend using your home currency because of the preferred foreign exchange rates CIBC offers, but you do have the option to make payments in USD, CAD, and other major currencies.
How will I know when my payment is received?
You will receive an email notification from CIBC advising you that your funds have been received and processed. Please allow 14 days for your payment to be processed by the finance team at TSoM.
You can see the status of your payment at any time by selecting Track your Payments on the CIBC International StudentPay portal.
I lost my instruction sheet. How can I get another copy of it?
You can view your instruction sheet by logging into the CIBC International StudentPay portal and clicking on the Transaction History page to resend the instruction sheet. Your instruction sheet will then be emailed to the email address we have on file.
How long does it take for the payment to be deposited into the college’s account?
On average, transactions made online will be processed within 14 days. If the transaction time exceeds this, please contact us at [email protected].
You can see the status of your payment anytime by selecting Track your Payments on the CIBC International StudentPay portal.
Why do I have to complete my payment within 72 hours?
If you are making an online payment directly on the portal, your transaction is considered final. For bank wires, the foreign exchange market is dynamic, and prices are changing continuously.
To protect you from this volatility, CIBC is able to offer protection for a period of 72 hours, excluding weekends and Canadian holidays. You have 72 hours to go to your local bank to submit the bank wire.
Can I make my payment through an agent?
Yes. Please select the relationship of the payer as “Agent” and ensure the instruction sheet is delivered to the agent to make the payment.
Please note that payments can be made using a Visa, Mastercard, Maestro and American Express. Effective January 5, 2022, a non-refundable service fee will apply. The service fee is billed at a rate of 2% and is paid directly to and retained by Stripe.
Toronto School of Management has partnered with PayMyTuition for international tuition payments. With PayMyTuition, you can pay your tuition payments from any bank, in any country in any currency at better than bank exchange rates. PayMyTuition is fast, simple and cost effective.
Additional Information on PayMyTuition:
Fees can be paid via cheque, bank draft or money order payable to the Toronto School of Management.
Toronto School of Management,
22 College Street, Suite 300,
Toronto, ON, M5G 1K2
For students who intend to use a debit card, please note that most debit cards have a default spending limit. If the payment you wish to make is larger than this limit, you may wish to contact the issuing bank beforehand to determine if you can increase your daily spending limit temporarily while you are trying to meet the fee payment deadline. If your bank will not do so, you will need to be prepared to make an alternative method of payment.
Include your name, TSoM student ID number, date of birth, and note the information below:
Toronto School of Management is listed as a Payee under “Bill Payments” with the following banking institutions:
- RBC (Royal Bank of Canada)
- Scotiabank (Bank of Nova Scotia)
- HSBC (Hongkong and Shanghai Banking Corporation)
- CIBC (Canadian Imperial Bank of Commerce)
- BMO (Bank of Montreal)
Please use the information below to proceed with a online bill payment.
Bill Payee Name: Toronto School of Management Inc.
Account number: TSoM Student ID (e.g. O1234567)
Please note that this option is only available within Canada.
