Direct deposit payments are for all Canadians
(NC)—Whether you're a parent waiting for your Child Tax Benefit, a senior or snowbird waiting for your Canada Pension Plan payment or an unemployed worker waiting for your Employment Insurance payment, direct deposit puts money in your bank account faster, more securely and reliably than waiting for snail mail. All Canadians, except for a few exceptions, are eligible to receive their federal government cheques by direct deposit.
Every year, the federal government makes almost 272 million payments to Canadians, 80 percent of which are done electronically through direct deposit. The federal government is hoping to soon convert the remaining 20 percent to electronic, rather than paper, payments. How can they do that? With your help.
By enrolling in direct deposit, which you can do at your bank or financial institution, by calling 1-800-O-Canada, or online at www.directdeposit.gc.ca, you are giving the federal government permission to pay you electronically. The benefits are many: you get your money faster, more securely, you never have to wait in the event of a postal strike and you'll be helping the federal government save almost $17.4 million a year in printing and mailing costs.
Here's a list of payments you can sign up for:
Old Age Security
Canada Pension Plan
Child Tax Benefit
Universal Child Care Benefit
GST / HST / Income Tax
Veterans pension and benefits
With the safety and security of electronic payments, never again will you hear yourself saying, “Where did I put that cheque again?”
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