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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?
Direct Deposit is a 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, and a number of other countries.
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 of direct deposit?
- 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.
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 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 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 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, or you can contact us and we will send you a form. You can also print an enrolment form for direct deposit in Canada from our Web site.
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.
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 5000
Matane, QC
G4W 4R6
Canada
For accounts in the 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 U.S. 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 United States 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. You can also print a U.S. Direct Deposit Enrolment Form from the Internet.
Instructions on how to complete the form for U.S. Direct Deposit are also available online.
When you fill out the form, you can make the process even simpler by attaching a blank personal 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 enrolment 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 7000
Matane, QC
G4W 4T5
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 besides Canada and the United States.
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
Outside of Canada, you can only apply for direct deposit service to a bank or financial institution in your country of residence in writing.
To request an enrolment form for International Direct Deposit, call us at (613) 957-1954 (not toll free), or contact us by mail at:
International Direct Deposit
P.O. Box 7000
Matane, QC
G4W 4T5
CANADA
You can also print an enrolment form for your country of residence from the Internet.
Instructions on how to complete the forms are also available on-line with the enrolment form for your country of residence.
Where do I send the form to have direct deposit service for my benefits in my country of residence?
Please mail the completed form to:
International Direct Deposit
P.O. 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 next month.
If your account is in Canada, the United States, or another country where Canada offers direct deposit service, and you mail us your enrolment form, you should receive your first direct deposit payment within 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 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 cheques, 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 Canada Pension Plan and Old Age Security payments together on the same cheque.
8. What if I need to change my bank information or cancel the direct deposit service?
You must let us know if you want to change your banking information or cancel your direct deposit service.
If you live 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.
If you live in the United States:
If your account is in the United States, you must advise us in writing if you want to change your direct deposit information or cancel the service. If you need to change your banking information, please contact us to ask for a copy of the U.S. Direct Deposit Enrolment Form. Simply complete the form with the new information and return it to us. You can also print an enrolment form for the United States from the internet.
If you live in another country:
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.
You can call us at (613) 957-1954 (not toll free) or write to us to request a copy of the Direct Deposit Enrolment Form for your country of residence. Once you receive it, simply complete the form with the new information and return it to us. You can also print an enrolment form for your country of residence from the Internet.
On-line services:
Service Canada also has an on-line service to allow you to View and Update Personal Information for your Canada Pension Plan and Old Age Security benefits. To use this service you must have a Personal Access Code.
If you live in Canada you can use the service to change both your mailing address and your Canadian direct deposit information on-line.
If you live outside of Canada and you receive either an Old Age Security or a Canada Pension Plan pension benefit, you can still use this on-line service, but you may only view your information. You will not be able to make any changes on-line.
If you move, you should advise us of your new mailing address by phone or by mail as soon as possible, even if your Canada Pension Plan and/or Old Age Security payments are being deposited directly to your account. 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.
If your account is in Canada or the United States contact us.
If your account is in another country, you can call us at (613) 957-1954 (not toll free), or write to us at :
International Direct Deposit
P.O. Box 7000
Matane, QC
G4W 4T5
CANADA
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 outside of 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 you don’t get answers to your questions, you can get in touch with 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.
If your account is in Canada or the United States contact us.
If your account is in another country, call us at (613) 957-1954 (not toll free), or write to us at
International Direct Deposit
P.O. Box 7000
Matane, QC
G4W 4T5
CANADA
11. What if I don't want to use direct deposit?
We will still send you a cheque at your home address every month if that's how you prefer to get your payments. The choice is yours.
