Security Deposits


Main Office
526 Country Squire Rd.
P.O. Box 640
Waterloo, ON
N2J 4A3

Phone: 519-886-5090
Fax: 519-746-0133

Customer Support

Email Customer Support
Phone: 519-885-6840


Email Billing
Phone: 519-886-5090

Security Deposits for Residential Accounts

We collect a security deposit from most new customers to help protect us from non-payment and encourage customers to pay accounts on time. Here are answers to common questions about security deposits.

What is the purpose of a security deposit?

We collect a security deposit from most new customers and sometimes from existing customers. There are two reasons for security deposits:

  1. To help protect us from non-payment.
  2. To encourage customers to pay accounts on time.

For details on our Security Deposit Policy, please view our Conditions of Service.

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When are deposits not required?

Deposits are not required on a residential account when:

  • The New Account holder has a good payment history of one (1) year with Waterloo North Hydro.
  • You provide a reference letter from another electricity or gas distributor in Canada that shows proof of of a good payment history of one (1) year in the same name as the New Account holder. The time period that makes up the good payment history must be the most recent period of time and some of the time period must have occurred in the previous 24 months.
  • You complete the registration for a Pre-Authorized Payment Plan or Equal Payment Plan 
  • You provide a credit check satisfactory to Waterloo North Hydro. Credit Checks provided by a customer can be sent to our Customer Support team by email at or by fax at 519-746-0133. (Please note that you will have to pay for the cost of the credit check.) 

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When will my deposit be returned?

We can return the deposit after one year of good payment history. 

A good payment history means that within the last 12 months:

  • You have not received more than one disconnection notice.
  • You have not had more than one cheque returned for insufficient funds.
  • You have not had more than one pre-authorized payment returned for insufficient funds.
  • We have not made a disconnect or collection trip for your account.

We also return your deposit if you close your account with us. When an account is closed, we apply the deposit to your final bill. Any amount left over is returned to you in the form of a cheque.

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Will I receive interest on my deposit?

Yes, customers with a security deposit will receive a monthly interest credit applied to their account. The interest rate used is the Bank of Canada's Prime Business Rate less 2%.

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