CornerstoneCU - CRA Direct Deposit

CRA Direct Deposit allows you to receive your tax refunds and benefit payments directly into your account. You can sign up for this using our mobile app or online banking, rather than going to the CRA website.

How do I sign up for CRA Direct Deposit?

If you’re using a desktop, login to digital banking and go to 'Accounts'.
Click 'CRA direct deposit'
Click 'Enroll Now'
Enter your First name, Last name, Social insurance number, and Date of birth
Read through and authorize Acknowledgements and Privacy Statement, and then select 'Continue'
Confirm the CRA Direct Deposit Details and then select 'Continue'
The Direct Deposit Form has now been submitted to CRA

If you’re using the mobile app, login and go to 'More'.
Click 'CRA direct deposit'
Click 'Enroll Now'
Enter your Social insurance number and Date of birth
Read through and authorize Acknowledgements and Privacy Statement, and then select 'Continue'
Confirm the CRA Direct Deposit Details and then select 'Continue'
The Direct Deposit Form has now been submitted to CRA

What do I need to sign up for CRA Direct Deposit?

Personal Member:	Small Business:
First Name/Last Name. SIN (Social Insurance Number): must be entered as a 9-digit number. Date of Birth: must be entered MM/DD/YYYY or selected from the calendar Start Demo (mobile viewing) Start Demo (desktop viewing)	CRA Business Number: Must follow the rules XXXXXXXXXAAXX (15 characters where ‘X’ represents numbers and ‘AA’ represents either RT, RP, RC, or ZA). Signer First Name/Last Name. Note: If two signatures are required on the account, then two signatures are also required to set up CRA Direct Deposit. Start Demo (mobile viewing) Start Demo (desktop viewing)

Personal Member:

Small Business:

First Name/Last Name.
SIN (Social Insurance Number): must be entered as a 9-digit number.
Date of Birth: must be entered MM/DD/YYYY or selected from the calendar

Start Demo (mobile viewing)

Start Demo (desktop viewing)

CRA Business Number: Must follow the rules XXXXXXXXXAAXX (15 characters where ‘X’ represents numbers and ‘AA’ represents either RT, RP, RC, or ZA).
Signer First Name/Last Name.

Note: If two signatures are required on the account, then two signatures are also required to set up CRA Direct Deposit.

Start Demo (mobile viewing)

Start Demo (desktop viewing)

FAQs

While publicly available information suggests a one-business-day turnaround, please note that this timeline is managed by the CRA and is subject to change. You can verify that your profile was updated by visiting the Canada Revenue Agency website.

You will receive your CRA direct deposits into the most recent bank account the CRA has on file. Direct deposits will only be made into one account, at one financial institution. If you had CRA Direct Deposit set up at another Financial Institution and choose to set it up through your Cornerstone Digital Banking profile it will then remove the initial Direct Deposit set up at the other Financial Institution and activate the new Direct Deposit.

Yes, two people may request their payments be deposited to the same account. Each individual will need to enroll for direct deposit using their own online banking login.

Individuals must have filed at least one income tax return in the past to be eligible to enroll for direct deposit with the Canada Revenue Agency. The account you are using for Direct Deposit must have also been set up for at least 30 days, be a Canadian Currency Account and a chequing or savings account.

CRA Direct Deposit

FAQs

When will I see the changes on my CRA account?

What if I already have another account set up for CRA direct deposit?

I have a joint account. Can I use the joint account for direct deposits if my spouse or family member also plans to use it?

How do I know if I am eligible to enroll in CRA direct deposit?