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Enrolling in Canada Revenue Agency's (CRA) direct deposit option through online banking is a convenient and secure alternative to receiving your CRA payments via mail. Direct deposit is fast, reliable and easy to do. No more waiting for cheques to arrive in the mail and having to deposit them.
Getting Started
To register for the CRA direct deposit program, you'll need to access BVCU’s online banking and have your social insurance number* already registered with us.
- Sign in to online banking.
- From the self-serve options, select CRA direct deposit enrolment.
- Choose the account for payments to be deposited into.
- Confirm your date of birth (if it was incorrect, please call us and we’ll update your account).
- Submit authorization to allow Bow Valley Credit Union to share your banking information with the CRA for the purpose of establishing or changing direct deposit.
- Review the confirmation.
* If you need to update any information on your account, please call your branch for assistance.
FAQs
What are the benefits of registering for CRA direct deposit?
- Set up is easy – just sign into online banking and register in a few easy steps.
- Receive your money faster – your money will be deposited directly to your bank account.
- Avoid delays – choosing CRA direct deposit means receiving your money faster, without any worry of potential delays from the physical world.
- Transactions are secure – keeping your information safe is our priority.
What payments does CRA direct deposit enrolment include?
Types of CRA payments eligible for direct deposit include:
- Income tax refunds
- Canada Child Benefit
- Goods and Services Tax/Harmonized Sales Tax (GST/HST) credit
- Canada Workers Benefit
- Canada Emergency Response Benefit (CERB)
- Provincial and territorial payments
For a complete list of payments, see the CRA website.
Do I need to register separately for each payment?
No. Once registered, you're enrolled for any and all types of government payments that you may be entitled to.
When will the changes be updated in my CRA account?
The direct deposit information should take up to 2 business days to appear in your CRA account.
I already have direct deposit for my CRA account. Do I need to do anything?
No action is required. You'll continue to receive payments made to you by the CRA to your existing account.
If you want to change your CRA direct deposit information, complete the set up in online banking and any future amounts will be deposited to this new account, replacing any previous CRA direct deposit information.
What if I need to change my contact information with the CRA?
To change contact information provided to the Canada Revenue Agency or to remove direct deposit from your CRA account, call the CRA at 1.800.959.8281.
Terms and Conditions
Personal information is collected under the Income Tax Act to administer tax, benefits, and related programs. It may also be used for any purpose related to the administration or enforcement of the Act such as audit, compliance and the payment of debts owed to the Crown. It may be shared or verified with other federal, provincial/territorial government institutions to the extent authorized by law. Under the Privacy Act, individuals have the right to access their personal information and request correction if there are errors or omissions. Refer to personal information bank CRA PPU 005 in http://www.infosource.gc.ca/.
