TORONTO, April 3, 2020 /CNW/ - Banks in Canada are working collaboratively with the
Government of Canada to offer
online enrollment of Canada Revenue Agency's (CRA) direct deposit,
a convenient and secure way to receive SIN-based government benefit
payments, including the new Canada
Emergency Response Benefit (CERB) for people experiencing
financial hardship due to COVID-19.
Effective today, Canadians should visit their bank's website for
information on how to enroll for CRA direct deposit or, for those
already registered for the service with the CRA, update their
account information. Once enrolled, individuals will receive CRA
payments such as benefits, credits and refunds deposited directly
to their bank account, and will no longer receive cheques in the
mail.
Starting April 6, individuals
signed up for direct deposit with the CRA will be able to receive
government benefit payments, including CERB, quickly, securely and
directly to an account at a Canadian financial institution.
Individuals must first determine their eligibility for CERB and
enroll directly with CRA. Payments can be verified by checking your
bank statement or by logging into CRA's My Account.
"Banks in Canada are working
closely with government to get emergency benefits flowing to
Canadians in their time of need," said Neil
Parmenter, President and CEO, Canadian Bankers Association.
"People that are experiencing financial hardship due to COVID-19
are encouraged to use CRA's direct deposit solution to access funds
faster and more directly."
Remember: neither your bank nor the CRA will ever send you an
email, text or a link directing you to a page asking for your
personal information to receive your benefit payment. These are
scams and people should never respond to these fraudulent
communications or click on any of the links provided. The direct
deposit enrolment link is only available to customers through your
financial institution's secured online or mobile banking
channels.
For more information, visit the CRA's webpages on direct
deposit and COVID-19. Canadians are also encouraged to visit
their bank's website:
BMO Financial Group
CIBC
National Bank of Canada
RBC
Scotiabank and Tangerine
TD Bank Group
About the Canadian Bankers Association
The Canadian Bankers Association is the voice of more than 60
domestic and foreign banks that help drive Canada's economic growth and prosperity. The
CBA advocates for public policies that contribute to a sound,
thriving banking system to ensure Canadians can succeed in their
financial goals. www.cba.ca.
SOURCE Canadian Bankers Association