CRA Direct Deposit

In light of the COVID-19 crisis and the introduction of the Canada Emergency Response Benefit, the Canada Revenue Agency (CRA) has made it easier for Canadians to sign up for its direct deposit service. With direct deposit, you will receive your tax refunds and benefit payments faster and directly into your Conexus account.

Sign up now

You can now securely sign up for CRA direct deposit or change your account information here:

CRA Direct Deposit Form

Benefits of Direct Deposit:

Quick:

  • When you complete the form, your direct deposit information will be updated the following day
  • Receive your refund in as little as eight business days, paper takes up to eight weeks

Convenient:

  • Receive payments directly into your account including:
    • Income tax refund
    • GST/HST credit and any similar provincial and territorial payments
    • Canada child benefit
    • Canada workers benefit

Secure:

You can verify a payment has been received by checking your bank statement
  • You can confirm the payment was sent by the CRA by logging into CRA’s My Account
  • Direct deposit helps reduce the risk of mail fraud and delays caused by a postal disruption

Frequently Asked Questions

What is a direct deposit payment? Expand/Collapse

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

Who is eligible to enroll in the direct deposit service? Expand/Collapse

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.

Why is direct deposit enrolment only available to individuals and not businesses? Expand/Collapse

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

The CRA has confirmed that the that Canada Emergency Response Benefit only supports SIN-based payouts and are not applicable to loans currently being provided for small businesses with a Business Number.

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 business can sign up.

Why should I sign up for direct deposit? Expand/Collapse

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.

For those eligible for the Canada Emergency Response Benefit, we encourage you to sign up for direct deposit with us as soon as possible to receive your benefit payments on time.

Will I still receive cheques if I sign up for direct deposit? Expand/Collapse

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

What payments can I receive through direct deposit? Expand/Collapse

If you are eligible, you can receive your Canada Emergency Response Benefit payments directly to your bank account.

You can also 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.

Is it safe to sign up for direct deposit? Expand/Collapse

In order to offer this direct deposit enrolment service, Conexus Credit Union 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 enrolment with the CRA:
    • The CRA requires your name, bank account information, date of birth and social insurance number (SIN).
    • Conexus Credit Union 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 enrolment, 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).

How do I register for direct deposit? Expand/Collapse

Steps to access the form:

  • - Log into online banking conexus.ca*
  • - In the left hand menu, select Account Services
  • - In the submenu, select Set Up CRA Direct Deposit
  • - Read the Payment Information and click Next
  • - Select the account you would like the funds to be deposited into
  • - Enter your Social Insurance Number and/or Birthdate, if requested
  • - Check off your authorization to let Conexus to share your banking information with the CRA for the purpose of establishing or changing direct deposit.
  • - Read Privacy statement (optional)
  • - Click Next
  • - Review the information
  • - Click Submit
*The CRA Direct Deposit Form is only available through our Full Website and not through Mobile Web or the Mobile app.

How long will it take to process my direct deposit enrolment or update? Expand/Collapse

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

What information do I have to provide to Conexus Credit Union to sign up? Expand/Collapse

Conexus Credit Union 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.

How will I know that my direct deposit information has been updated? Expand/Collapse

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

How do I know that I have received my direct deposit payment from the CRA? Expand/Collapse

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.

Fraud prevention: The CRA or Conexus Credit Union will never send you an email, text or Interac e-transfer to a link asking for your personal information to receive your benefit payment or refund. These are scams and taxpayers should never respond to these fraudulent communications or click on any of the links provided. If you submit multiple requests to update your direct deposit information, the most recent enrolment you complete will become the account on file with the CRA. Direct deposits will only be made into one account, at one financial institution.