What you need to know about Canada Emergency Student Benefit

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To help Canadian students and new grads from high school, college and university who cannot find work because of the pandemic, the Government of Canada has introduced the Canada Emergency Student Benefit, or C E S B.

If you are eligible for the C E S B, the best way to get your money fast is to sign up for direct deposit. You can do this when you apply for the benefit, or online through your bank’s website. Direct deposit is fast, convenient and secure.

If you receive the C E S B by cheque, your best option is to take the cheque to a bank. With ID, you can cash Government of Canada cheques for free at any bank in the country, even if you don’t have an account. Banks will cash C E S B cheques in the full amount, without any holds.

It might be tempting to use a payday loan company, but that will cost you money you could otherwise keep in your pocket.

Find more tips on managing your money at Canada dot c a slash money.

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