Direct Deposit - Frequently Asked Questions

1. What is direct deposit?
   
2. Who uses direct deposit?
   
3. What are the advantages?
   
4. How do I apply?
   
   • For accounts in Canada
     
   • For accounts in USA
     
   • For accounts in other countries
5. When will I receive my first payment?
   
6. When do my payments go into my account?
   
7. Can I deposit amounts into separate accounts?
   
8. What if I need to change my bank information or cancel the direct deposit service?
   
9. What if I don't receive a payment?
   
10. What if I don't want to use direct deposit?

1. What is direct deposit?

Direct Deposit is a system we use to automatically deposit your Canada Pension Plan and Old Age Security payments each month into your bank account in Canada or the United States. 

2. Who uses direct deposit?

Millions of people take advantage of our direct deposit service. Since we started using it in November 1990, direct deposit has become our standard way for delivering payments to people who receive Canada Pension Plan and Old Age Security benefits. 

3. What are the advantages?

• It's reliable - we make more than five 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.
• It's secure - there's no risk that your payment will be lost, stolen or damaged.
• If you're sick, on vacation or travelling, you will still get your payment automatically.
• It saves money for Canadian taxpayers, since we have to print and mail fewer cheques.
• It's confidential, since there's no cheque for someone to see how much money you get.
• It's environmentally friendly because we use less paper and help 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.

Applying by telephone:

You can sign up for direct deposit quickly over the telephone (see Contact Us). If you call us during the last two weeks of the month, we can usually start your direct deposit payments the next month.

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, you can have a blank cheque on hand when you call. You can deposit your payments 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 in writing:

To sign up in writing, 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, or you can contact us and we will send you a form.

If you also receive 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.

When you fill out the form, you can make the process even simpler by attaching a blank cheque with the word "VOID" written across it. We can only use the information on the cheque if it has your name and address printed on it. Please do not sign the cheque.

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 Deposit
P.O. Box 9696, Station T
Ottawa ON K1G 5Y9

For accounts in United States:

You can use the direct deposit service if you receive Canada Pension Plan or Old Age Security benefits and you live in the United States. Your financial institution has to be a participating member of the American Bankers Association and has to be located in the United States.

We can deposit your payments into either your chequing or savings account. Bank of America, the service provider for foreign payments, will automatically convert your payments to US dollars approximately five banking days before your payment 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 U.S. direct deposit service. However, in the United States, some financial institutions may charge you fees. Please contact your U.S. bank or financial institution for more details.

You have to apply in writing

You can only apply for direct deposit to a U.S. bank or financial institution in writing.

Contact us to ask for a "U.S. Direct Deposit Enrolment Form." When you fill out the form, you can make the process even simpler by attaching a blank cheque with the word "VOID" written across it. We will use the information on the cheque. Please do not sign the cheque.

If you don't have a chequing account, you can take the request form to your U.S. financial institution. A teller will fill in your banking information on the form and stamp it.

Where do I send the form if I am receiving my benefit in the United States?

Please mail the completed form to:

U.S. Direct Deposit
P.O. Box 5000
Matane, QC
G4W 4R6

For accounts in other countries

Can I use direct deposit for accounts in other countries?

No. Right now, you can only directly deposit your Canada Pension Plan and Old Age Security benefits to financial institutions in Canada or the United States. 

5. When will I receive my first payment?

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 next month.

If your account is in Canada or the United States and you mail us your request form, you should receive your first direct deposit payment in two to three months.

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 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, you don't have to deposit both amounts 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. 

8. What if I need to change my bank information or cancel the direct deposit service?

If your account is in Canada, you can change your direct deposit information or cancel the service in the same way you applied - either by telephone or by mail. If your account is in the United States, you can only change your bank information or cancel the service by mail. Please contact us to ask for a copy of the "U.S. direct deposit Enrolment Form." You can use this form to change your information or cancel the direct deposit service.

9. What if I don't receive a payment?

You should check with the people at your financial institution first. If they can't answer your questions, you can contact us five banking days after the payment was supposed to go into your account. We will look into the matter and make sure you get your payment.

10. What if I don't want to use direct deposit?

That's okay. We will still send you a cheque to your home address every month if that's how you want to get your payments.