Direct Deposit

CRA Direct Deposit Expand/Collapse

Manage your Canada Revenue Agency direct deposit information through Cornerstone Credit Union!

Applying for the Canada Emergency Response Benefit? Sign up for direct deposit now to ensure your benefit payments arrive sooner!

We can help you sign up for direct deposit or update your direct deposit information with the Canada Revenue Agency (CRA). We encourage you to use direct deposit to avoid any delays and receive your payments faster.

You can receive these CRA payments through direct deposit:

  • income tax refund
  • Canada child benefit
  • goods and services tax/harmonized sales tax (GST/HST) credit
  • Canada workers benefit
  • related provincial and territorial payments
  • the new Canada Emergency Response Benefit

How to sign up for CRA Direct Deposit:
It’s safe, easy and only takes seconds to sign up.

  1. Sign in to Online Banking (using desktop or mobile banking. Currently not yet available on our App). 
  2. Click on Account Services on the left menu. 
  3. Click on "Setup CRA Direct Deposit"
  4. Follow the instructions to submit for CRA Direct Deposit.
Please click here for step by step instructions.


Please note, you must have
filed a tax return with the CRA to be eligible to sign up for the CRA direct deposit service.

CRA Direct Deposit FAQs Expand/Collapse

What is a direct deposit payment?

Direct deposit is a secure electronic transfer of funds deposited directly into your bank account at a financial institution of your choice. Direct deposit replaces the need to issue payments by paper cheque.

Why should I sign up for direct deposit?

Direct deposit allows you to access your money faster and is more convenient as your payment will not be delayed due to unforeseen circumstances such as bad weather. It is reliable and your payment will always be deposited on time in the bank account that you supply at the time of your enrolment in direct deposit.

For those eligible for the Canada Emergency Response Benefit, we encourage you to sign up for direct deposit as soon as possible to receive your benefit payments on time.

Will I still receive cheques if I sign up for direct deposit?

Once you are signed up for direct deposit, you will receive Government of Canada payments such as benefits, credits, and refunds directly to your bank account, and will no longer receive cheques for those payments.

What payments can I receive through direct deposit?

Receiving your payments from the Government of Canada by direct deposit offers many advantages.

You can receive:

  • The new Canada Emergency Response Benefit, if eligible.
  • Income tax refund
  • Canada child benefit (CCB)
  • Goods and Services tax/harmonized sales tax (GST/HST) credit
  • Canada workers benefit (CWB)
  • Provincial and territorial payments.

How soon should I expect my payments to arrive by direct deposit?

If your payment method is direct deposit, you can expect to receive payments within five business days of the scheduled payment date. If your payment method is cheque, you can expect the cheque in the mail within 10 business days. Please allow this time before contacting the CRA about your payment.

Is it safe to sign up for direct deposit?

The Government of Canada considers privacy and security of utmost importance in the issuance of payments. Any information you provide to the Government of Canada when you enrol for direct deposit is protected under the Government of Canada Privacy Act and as described in Receiver General Payments (Personal Information Bank PWGSC PCU 712).

The Receiver General will use and disclose personal information for direct deposit purposes only to the federal institutions from which you are receiving payments and to your financial institution in order to issue direct deposit payments. Personal information such as your Social Insurance Number (SIN) will not be disclosed to your financial institution.

Access to your bank account is governed by your account agreement with Cornerstone Credit Union. Read more about our Privacy Policy and Information here.

Can the Canada Revenue Agency use different account information for different payments?

Yes. The Canada Revenue Agency will use all the account information that is on file for you. Please log into My Account to tell us which account you want us to use for payments to which you may become entitled.

How do I register for direct deposit through my credit union?

Please see above information on how to set up CRA Direct Deposit for more information on how to register for CRA direct deposit.

How long will it take to process my direct deposit enrolment or update through my financial situation?

The CRA aims to process your direct deposit enrolment or information updates in one or two business days. Given the current environment, you may experience longer than usual processing times once your financial institution has sent your information to the CRA.

What information do I have to provide to my financial institution to sign up?

Your Social Insurance Number (SIN) will be needed by your financial institution to sign up for direct deposit with the CRA.

How will I know that my direct deposit information has been updated?

If you are fully registered for CRA’s My Account, you can verify your direct deposit information through this online self-service portal.

How do I know that I have received my direct deposit payment from the CRA?

You can verify that the payment has been received by checking your banking statement on the account you used to sign up for direct deposit. Your payment amount will be deposited directly into the account.

You can also confirm that the payment was sent by the CRA by logging into CRA’s My Account.

The CRA will never send you an email, text or Interac e-transfer to a link asking for your personal information to receive your benefit payment or refund. These are scams and taxpayers should never respond to these fraudulent communications or click on any of the links provided. If you submit multiple requests to update your direct deposit information, the most recent enrolment you complete will become the account on file with the Canada Revenue Agency. Direct deposits will only be made into one account, at one financial institution.

What happens if I submit multiple requests to update my direct deposit information through my financial institution?

You only need to enrol once. If you submit multiple requests to update your direct deposit information, the most recent enrolment you complete will become the account on file with the CRA. Direct deposits will only be made into one account, at one financial institution.

Set Up Direct Deposit / Pre-Authorized Payments Expand/Collapse

We make it easy for you to submit your banking information to receive your payroll or other deposits into your account; or to set up pre-authorized payment to automatically pay your bills from your account.

Access your Direct Deposit and Pre-Authorized Debit (PAD) Form Through Online Banking

  1. Sign in to Online Banking.
  2. Click on the account you want your direct deposit in or your Pre-Authorized Debit to come from.
  3. Select Direct Deposit and Pre-Authorized Debit (PAD) Form
  4. Your information needed to set up Direct Deposit will populate into the VOID cheque areas. Print the form and provide to your employer; or to businesses where you’d like to set up Pre-Authorized debit.
 

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