Fact sheet: Direct deposit is fast and convenient
Learn how direct deposit is the faster and more convenient way to receive your payments from the Government of Canada.
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Did you know that the Government of Canada issues over 280 million federal payments every year? While 80% of these payments are deposited directly into Canadians' bank accounts, there are still 55 million cheques being printed, mailed and cashed each year. The Government of Canada is switching from cheques to direct deposit for its payments. Direct deposit is a faster, more convenient way to receive payments from the Government of Canada. Converting cheques to direct deposit will save Canadians over $17 million each year.
Direct deposit is an electronic transfer of funds that allows the Government of Canada to deposit your payments directly into your bank account instead of issuing a cheque. You don't need a computer or Internet access to use direct deposit, and you can continue to access your bank account as you normally would.
Direct deposit offers you faster access to your money with no risk of your payment being delayed as a result of unforeseen circumstances such as bad weather. It's reliable because your payment will always be deposited into your bank account on time. Your direct deposit payment is safe and secure with virtually no risk of your payment being misplaced or lost.
Visit directdeposit.gc.ca to get all the information you need. You can enrol several ways: by phone, online, in person and by mail.
By phone and online: You can enrol online on the Canada Revenue Agency's My Account site at cra-arc.gc.ca or by phone at 1‑800‑959‑8281 for the following payments:
- Income tax refund
- Goods and services tax/Harmonized sales tax (GST/HST) Credit
- Canada Child Tax Benefit
- Canada Child Benefit
You can sign up by using My Service Canada Account at servicecanada.gc.ca or by calling 1‑800‑277‑9914 for the following payments:
- Canada Pension Plan
- Old Age Security Pension
In person: Consult your agent or financial advisor at your bank or credit union, who can help you fill in the direct deposit enrolment form. The form is available at most financial institutions.
By mail: Complete and mail the direct deposit enrolment form available online at directdeposit.gc.ca. From time to time, you may also receive an enrolment form with your Government of Canada cheques.
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