VICTORIA — B.C. drivers may no longer use their credit cards to pay for monthly basic auto insurance, as part of cost-saving changes at ICBC.

The public auto insurer quietly introduced the new policy on the first of November which forbids payment by credit card for customers who pay their insurance premiums via a monthly payment plan. Debit, cheques and cash are still acceptable.

ICBC projects it will save $1 million annually in card processing fees.

Source: Vancouver Sun