How to Pay for a Custom Engagement Ring: Deposit and Balance

In this guide

    By Clint Casmiro, Co-Founder, Smiro Studio · Updated October 22, 2026

    Short answer: In two halves. A 50% deposit starts your 3D design and your diamond search, and the balance is due when you have seen the finished ring on video, before it ships. We accept credit and debit cards, Interac e-Transfer and bank wire, and US orders are paid by card or bank wire. We don't take cash, cryptocurrency, cheques or money orders.

    3D render of an oval tulip engagement ring with a diamond bridge, yellow gold

    When do I pay?

    Payment When What it does
    Estimate and consult Before anything Free, no obligation
    Deposit, 50% When you are ready to start Starts the 3D design and the diamond search
    Balance, 50% After a close-up video of the finished ring Releases the ring to ship, free and insured

    How can I pay?

    • In Canada: credit or debit card, Interac e-Transfer, or bank wire.
    • In the US: card or bank wire, and you are quoted in US dollars.
    • Not accepted: cash, cryptocurrency, cheques or money orders.

    Who can pay?

    You, or a partner or family member we have recorded on your order. Refunds, when they apply, go back to the original payment method and the person who paid. On larger orders we may ask for photo ID, as Canadian anti-money laundering law requires.

    Is the deposit refundable?

    No. A custom ring is made for one person, so once a rendering or diamond sourcing deposit is paid, the order cannot be cancelled and the deposit is non-refundable. That is why the estimate and the call are free: ask every question first. More in can you return a custom engagement ring.

    What does the total come to?

    Half of our Canadian ring orders were quoted between $5,100 and $7,000 CAD, centre stone included. What is in that number, and what is extra, is in engagement ring hidden costs.

    Ready to start, or still have questions?

    A free 20 minute video call with our team. Bring a photo, a budget, or nothing at all.

    Book a free callGet a free estimate

    From our collection

    Oval Six Petal Tulip Hidden Halo Split Shank engagement ring in yellow gold, back angleOval Six Petal Tulip Hidden Halo Split ShankOval Six Petal Diamond Tulip Split Shank engagement ring in gold, back angleOval Six Petal Diamond Tulip Split ShankCushion Tulip Curved Hidden Halo Double Prong engagement ring in yellow gold, back angleCushion Tulip Curved Hidden Halo Double ProngCushion East West Half Petal Tulip engagement ring in yellow gold, back angleCushion East West Half Petal Tulip

    Questions we get about this

    How much is the deposit on a custom engagement ring?

    With us, 50% to start the 3D design and the diamond search. The other half is due after you see the finished ring on video.

    Can I pay for an engagement ring with Interac e-Transfer?

    Yes. In Canada we accept credit and debit cards, Interac e-Transfer and bank wire.

    Do you accept cash or crypto?

    No. We don't accept cash, cryptocurrency, cheques or money orders.

    Can I split the payment differently?

    Ask us on the call before you pay anything. The standard plan is half to start the design and the diamond search, and half once you have seen the finished ring.

    Is the deposit refundable?

    No. Once a rendering or diamond sourcing deposit is paid, the order cannot be cancelled and the deposit is non-refundable.

    Keep reading

    Written by Clint Casmiro, co-founder of Smiro Studio with Karina. We are second generation jewellers. Our dad Kenny has more than 40 years at the bench and oversees production, and we have built over a thousand tulip basket rings. Every ring is designed in CAD and you approve 3D renderings before production. We ship free and insured across Canada and the US.

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    Megan W with their custom Smiro ring “They took the vibe in my head and turned it into the exact ring. She said yes.” Megan W · Past project Emily D with their custom Smiro ring “Stress-free start to finish. They sent renders until it was exactly right.” Emily D · Past project Julian with their custom Smiro ring “Found them on TikTok and talked to the actual makers. The stone is unreal.” Julian · Past project Nagrup S with their custom Smiro ring “The detail is even better in person. Worth every minute of the wait.” Nagrup S · Past project Kishori O with their custom Smiro ring “Absolutely amazing studio. They delivered above and beyond what we expected.” Kishori O · Past project
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    Approve your ring Before Production

    Get accurate 3D renderings before saying 'Yes'.

    +40 years of experience

    Expert craftsmanship you can trust.

    Family Owned Business

    Second generation and family-run for over 40 years.

    Insured Door to Door Shipping Included

    Fully insured, secure door to door delivery.