Direct Deposit - Frequently Asked Questions
- What is direct deposit?
- Who uses direct deposit?
- What are the advantages of direct deposit?
- How do I apply?
- When will I receive my first payment by direct deposit?
- When do my payments go into my account?
- Can I deposit amounts into separate accounts?
- What if I need to change my bank information or cancel the direct deposit service?
- What if I move?
- What if I don't receive a payment?
- What if I don't want to use direct deposit?
1. What is direct deposit?
Direct Deposit is a free and convenient system we use to automatically deposit your Canada Pension Plan and Old Age Security payments. The money is deposited monthly into your bank account in Canada, the United States, or in a number of other countries.
2. Who uses direct deposit?
Millions of people take advantage of our direct deposit service. Direct deposit has been available in Canada since November 1990. We have expanded this service to the United States in 1995 and to other countries since September 2005. Since then, direct deposit has become our standard way for delivering payments to people who receive Old Age Security and Canada Pension Plan benefits in Canada and abroad.
3. What are the advantages of direct deposit?
- Reliable - we make more than seven million direct deposit payments every month. Your payment will always be on time, and you can start using the money and earning interest right away.
- Secure - there's no risk that your payment will be lost, stolen or damaged.
- Confidential - since there's no cheque for someone to see how much money you get.
- Convenient - If you're sick, on vacation or travelling, you will still get your payment automatically.
- Saves money - for Canadian taxpayers, since we have to print and mail fewer cheques.
- Environmentally friendly - because we use less paper, this helps save our forests.
4. How do I apply?
If you now get your cheques by mail and you want to take advantage of direct deposit, please contact us. The way you apply for direct deposit depends on where your financial institution is located.
For accounts in Canada:
If your bank or financial institution is located in Canada, you can apply for direct deposit by telephone or by mail. You can also print an enrolment form for direct deposit in Canada from our Web site.
Applying by telephone:
You can sign up for direct deposit quickly over the telephone (see Contact Us). We can usually start your direct deposit payments the month after you submit your request.
To set up direct deposit over the telephone, we usually have to speak directly to you. If someone else calls on your behalf, make sure you are there when they call. Keep in mind that before we can take the call from your legal trustee or someone with power of attorney, we have to have trusteeship or power-of-attorney forms on file.
When you call, be sure to have the following information ready:
- your social insurance number;
- the name of your bank or financial institution;
- the number of the branch where you have your account; and
- your account number.
To make this process even simpler, have a blank cheque on hand when you call, as all the information we need is on your cheque. Your payments can be deposited into a chequing or savings account. If you have another kind of account, please call your financial institution to find out what accounts you can use for direct deposit.
Applying by mail:
To sign up by mail, you have to fill out the "Government of Canada Direct Deposit Enrolment Request Form." You can get this form at any Canadian bank or financial institution.You can also print an enrolment form for direct deposit in Canada from our Web site or you can contact us and we will send you a form.
If you also receive any other federal government cheques, such as an income tax refund, a goods and services tax (GST) credit, Child Tax Benefit payments, a Veterans Affairs pension or War Veterans Allowances, you can use the same form to have these payments directly deposited.
If you don't have a chequing account, take the form to your bank or financial institution. A teller will fill in your banking information on the form and stamp it.
Where do I send the form?
For accounts in Canada, please mail the completed form to:
Direct DepositPO Box 5000
Matane QC G4W 4R6
CANADA
For accounts in other countries
Can I use direct deposit for accounts in other countries?
Direct deposit is now available at financial institutions in a growing number of countries outside Canada.
Bank of America, the service provider for foreign payments, will automatically convert your payments to the currency of your country of residence approximately five banking days before your benefit gets to your account. Because the exchange rates change regularly, the amount deposited into your account may be different from month to month.
We do not charge you service fees for the direct deposit service. However, some financial institutions may charge you fees. Please contact your bank or financial institution for more details.
You have to apply in writing
If you reside outside Canada, you can only apply in writing for direct deposit service to a bank or financial institution in the countries currently listed our Web site.
To obtain an enrolment form and instructions on how to complete the form you can:
- print an enrolment form and instructions for your country of residence from the Internet; or
- contact us by phone; or
- contact us by mail at:
PO Box 7000
Matane QC G4W 4T5
CANADA
Where do I send the completed direct deposit enrolment form?
Please mail the completed form to:
International Direct DepositPO Box 7000
Matane QC G4W 4T5
CANADA
5. When will I receive my first payment by direct deposit?
If your account is in Canada and you sign up for direct deposit over the telephone, we can usually start your direct deposit payments the month after you submit a request.
If your account is in Canada, or another country where Canada offers direct deposit service, and you have sent us your enrolment form by mail, you should receive your first direct deposit payment within three months.
If you have not received your payment into your bank account within three months, contact us.
6. When do my payments go into my account?
We deposit your payment on the third-last banking day of each month. In December, we make the payments the third-last banking day before December 25. Consult the list of payment dates for more information.
7. Can I deposit amounts into separate accounts?
If you receive both Canada Pension Plan and Old Age Security payments as separate payments, you don't have to deposit both benefits into the same account. If you like, you can ask us to deposit your Canada Pension Plan payments into one account, and your Old Age Security payments into another.
However, we can't split a single Canada Pension Plan or Old Age Security payment between two accounts. Nor can we split payments between two accounts if you receive your Old Age Security and Canada Pension Plan benefits together on the same payment.
8. What if I need to change my bank information or cancel the direct deposit service?
Online services
Service Canada also has an online service to allow you to view and update personal information for your Old Age Security and Canada Pension Plan benefits. To use this service you must have a Canadian social insurance number, a personal access code and a Government of Canada Access Key.
If you live in Canada you can use the online service to change both your mailing address and your Canadian direct deposit information. For information on how to access the service, go to the "My Service Canada Account" page on the Service Canada Web site.
A personal access code (PAC) is required the first time you login to My Service Canada Account. The PAC is your key to accessing secure online services - please keep it safe and do not share it with anyone.
Note: Once you have your personal access code , you have to register for My Service Canada Account. You will need to create a user ID and password during the registration process - this is called an "Access Key." On return visits, you will only need to enter your Access Key to access My Service Canada Account.
If you already have an epass, you will have to replace it with an Access Key.
If you live outside Canada and you receive either an Old Age Security or a Canada Pension Plan pension benefit, you can still use this online service, but you may only view your information. You will not be able to make any changes online.
For accounts in Canada
If your account is in Canada, you can change your direct deposit information or cancel the service either by telephone or by mail. Just contact us.
For accounts in other countries
If your account is in another country where Canada provides direct deposit service and you want to change your direct deposit information or cancel the service, you must advise us in writing at one of our regional offices.
To submit your direct deposit information
Print an enrolment form from the Internet, call us at 613-957-1954 (collect calls accepted) or write to us to request a copy of a foreign Direct Deposit Enrolment Form. Complete the form with the new information, sign it and return it to us. (Please note: Foreign direct deposit service is currently available to financial institutions located in a number of countries around the world.)
Note: It can take up to three months to process your request. It is suggested that you keep your old bank account open until you start receiving your OAS and/or CPP benefits in your new bank account.
To cancel direct deposit service
To cancel your direct deposit and have your cheque sent to you by mail, you may either contact us by telephone or send us a letter indicating your wish to cancel the direct deposit service. If your account is outside Canada you must advise us in writing. Please refer to the following list of Regional Office addresses.
Note: It can take up to three months to process your request. It is suggested that you keep your old bank account open until you start receiving your benefits by cheque.
9. What if I move?
If you move, you should advise us of your new mailing address by telephone or by mail as soon as possible, even if your Old Age Security and/or Canada Pension Plan payments are being deposited directly to your bank. Having your current mailing address in our records means you will receive, without delay, your tax slips at income tax time, as well as any program information we might send you.
Your payments will continue to be deposited directly to the same account unless you change your banking information with us.
Please note that if you move to a country outside Canada, direct deposit is only available through financial institutions in countries where Canada offers direct deposit service.
10. What if I don't receive a payment?
You should check with your financial institution first. If your payment has not been deposited within five banking days after the payment was supposed to go into your account, you may contact us. We will look into the matter and make sure you get your payment.
11. What if I don't want to use direct deposit?
We will still send you a cheque at your mailing address every month if that's how you prefer to get your payments. The choice is yours.
For more information on receiving your benefit(s) by cheque when residing outside of Canada, refer to the FAQ's on Foreign Payments.