Receiving your payments from the Government of Canada by direct deposit offers many benefits. It 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. Direct deposit is secure because your payment cannot be lost or stolen, and it is much less costly than issuing a cheque.
Please see the following link to set up your direct deposit:
Option 1- set up online
Select individual – choose your financial institution and follow the outlined steps as per the web instruction;
Option 2- By phone
To sign up for direct deposit or to change your account information, call CRA at 1-800-959-8281. You will need your:
- social insurance number
- full name and current address, including postal code
- date of birth
- most recent income tax and benefit return and information about the most recent payments you received from the Canada Revenue Agency
- banking information: three-digit financial institution number, five-digit transit number, and your account number
Hope this helps expedite your tax refund!