CRA Direct Deposit

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

Canadian taxpayers. If an individual has never filed a tax return with the CRA, they are not eligible to sign up for the CRA direct deposit service through their financial institution.

The direct deposit service is strictly for individuals using their SIN to register.

Small businesses with a Business Number will be able to update their Direct Deposit information through their business portal. Payments Canada will circulate CRA’s link to ‘my business’ account where businesses can sign up.

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 your account.

We encourage you to sign up for direct deposit with us as soon as possible to receive your benefit payments on time.

No. Once you are enrolled for direct deposit, you will receive CRA payments such as benefits, credits and refunds directly to your account.

If you are eligible, you can receive payments such as your income tax refund, benefits and credits such as the Canada child benefit (CCB), the goods and services tax/harmonized sales tax (GST/HST) credit, Canada workers benefit (CWB), and provincial and territorial payments such as the Ontario Trillium Benefit (OTB) directly to your bank account.

In order to offer this direct deposit enrollment service, KCCU signed an extensive Terms of Use Agreement with the CRA which obliges us to use consent and privacy statements with all our clients who enroll in CRA direct deposit. By signing these consent and privacy statements you will acknowledge and agree that:

• To facilitate your direct deposit enrollment with the CRA:

• The CRA requires your name, bank account information, date of birth and social insurance number (SIN).
• KCCU will provide to the CRA your name and bank account information as set out above, as well as the date of birth and SIN that we have on file for you.
• Once the CRA has completed your direct deposit enrollment, the Receiver General will deposit any amounts to be paid to you by the CRA.

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 enroll 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).

You can sign up for direct deposit or update your personal details by following the steps above.

Once you provide consent for your banking information to be shared with the CRA, your direct deposit information will be updated by your financial institution the following day. The CRA aims to process your direct deposit enrollment or information updates within a few business days. Given the current environment, you may experience longer than usual processing times once the CRA receives your information from your financial institution.

Your financial institution will provide to the CRA your name and bank account information, as well as the date of birth and SIN that we have on file for you.

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

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 (After you click this link, see the 3 min. Government of Canada video on right on how to register your own My Account))

Learn More about Government of Canada Direct Deposit