Direct deposit is a fast, convenient alternative to waiting for a paper cheque to arrive in the mail, and it requires no work on your end after the initial setup.

Canada’s tax agency offers CRA direct deposit to deposit funds directly into your bank account or credit union account. The benefits for you: CRA direct deposit is fast, reliable and secure.

Here’s how the direct deposit process works: An employer starts by collecting the banking information—including bank account number and bank routing number—of its employees and vendors.