Direct Deposit
Direct Deposit is a great way to securely receive payments from employers, the Government of Canada etc, without having to visit the branch to deposit a physical cheque.
BAY Credit Union is happy to offer this service to our members through our Internet Banking.
How to Set up CRA Payments on Internet Banking
Online
You can sign up yourself if you are registered for CRA's My Account. If you are not yet registered, why wait? My Account can help you quickly and easily manage your tax affairs online, including signing up for direct deposit or changing your account information.
Online - mobile application
To start or update direct deposit information, use MyCRA.
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
Eligible CRA payments include:
- Canada Emergency Response Benefit
- Income tax refund
- Canada child benefit
- GST/HST credit
- Canada workers benefit
- Related provincial and territorial payments (ie Ontario Trillium Benefit)
If you haven’t filed a CRA tax return you’ll need to contact them to get set up. Here’s a direct link to sign into your CRA Account, there are also MyCRA and MyBenefits CRA mobile apps, just search your device’s app store.
For more information, go to canada.ca/cra-direct-deposit
