Direct deposit nets students money faster
(NC)— Too much month at the end of the money? Need your student loan cheques or other federal payments faster? Students across Canada are signing up for direct deposit to receive federal payments faster and more securely, under a federal program designed to save trees, reduce greenhouse gas emissions and cut $17.4 million in the delivery of paper cheques.
Eighty percent of Canadians already receive their federal cheques electronically with the remaining 20 percent being targeted for direct deposit as soon as possible. The obvious benefits for students are faster, secure payments with zero risk of misplacing or losing cheques, no inconvenience, cost or travel time to and from the mail box or financial institution and guaranteed payment in the event of a postal strike or labour disruption. You don't even need a computer or Internet access. You can track your deposits at your bank or financial institution.
Since students tend to be techno savvy, direct deposit is a natural fit considering all the benefits. Even mature students can opt in for this popular convenience. If you would like more information, including how to get your student loan by direct deposit, visit www.canlearn.ca. To enrol for your Child Tax Benefit, for GST/HST and T1 Income Tax Refund, download the form at www.directdeposit.gc.ca.
Just as convenient as it is to post a photo on Instagram or check your Tumblr and Facebook accounts, you can receive your money conveniently by signing up for direct deposit at your local bank or financial institution, or at www.directdeposit.gc.ca.
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