CRA Direct Deposit

Set up CRA Direct Deposit and never miss a payment!

Direct Deposit puts you in control of where your Canada Revenue Agency (CRA) refunds and payments are deposited. Sign up for CRA Direct Deposit through Libro Online or Mobile Banking and get your payments faster - no more waiting for your cheque to arrive or going to the branch to make your deposit.





CRA for Personal

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Direct Deposit is fast, secure, and convenient. Register today to receive your payments from the government straight into your Libro account. 
 

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CRA for Business

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Your business can enrol in direct deposit for most payments from the government, including the Canada Emergency Wage Subsidy payment. 
 

Learn More







Direct Deposit For Personal

You only need to register once to cover each type of refund or payment, and it’s super easy:

  1. Log into Libro Online or Mobile Banking
  2. Navigate to Settings
  3. Select Direct Deposit
  4. Choose the account where you want the funds deposited into
  5. Read the terms along with the privacy statement and check the confirmation box
  6. Select Enrol Now

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Direct Deposit For Business

Business Owners only need to register once to enrol in CRA direct deposits. Follow the steps below to get set up today:

  1. Log into Libro Online or Mobile Banking
  2. Navigate to Settings
  3. Select Direct Deposit
  4. Choose the:
    1. Business

    2. Input the business name as it appears in CRA’s records

    3. Input the name of a business owner, director, partner, or corporate officer

    4. Choose the programs to enrol direct deposit in

  5. Read the terms along with the privacy statement and check the confirmation box
  6. Select Enrol Now

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Frequently Asked Questions

When updating your CRA direct deposit account through Libro Online or Mobile Banking, it will take up to two-business days for your new direct deposit information to show on your CRA profile. You can verify that your profile was updated by visiting the Canada Revenue Agency website.

You will receive your CRA direct deposits into the most recent bank account the CRA has on file. Direct deposits will only be made into one account, at one financial institution.

If you wish to change the account you have on your CRA profile to a Libro account, you can update it using Libro Online or Mobile Banking. Just follow the steps above!

Using Libro Online or Mobile Banking is the easiest and most convenient way to sign up. We will be offering sign up through your local branch soon, but recommend you enrol through online or mobile banking whenever possible. You are currently not able to enrol over the phone through our Contact Centre.

Personal

The Canada Revenue Agency will deposit the refunds and payments you’re eligible for directly into your account, including:

  • The new Canada Emergency Response Benefit
  • Income tax refund
  • Goods and services tax/harmonized sales tax credit and any similar provincial and territorial payments
  • Canada child benefit and any similar provincial and territorial payments
  • Canada workers benefit
  • Deemed over payment of tax

You will receive your CRA direct deposits into the most recent bank account the CRA has on file. Direct deposits will only be made into one account, at one financial institution.

If you wish to change the account you have on your CRA profile to a Libro account, you can update it using Libro Online or Mobile Banking. Just follow the steps above!

Individuals must have filed at least one income tax return in the past to be eligible to enrol for direct deposit with the Canada Revenue Agency.

When signing up for direct deposits, you will only need to select the account you want your funds deposited into and confirm that you read and agree with the privacy statement and consent. Your personal information will be auto-populated for your enrolment based on the information Libro has on file. If we don’t have your Social Insurance Number (SIN) on file, you’ll need to update your SIN by calling our Contact Centre at 1-800-361-8222.

The Canada Revenue Agency uses your SIN to identify you and ensure payment goes to the right individual.

Yes, two people may request their payments be deposited to the same account. Each individual will need to enrol for direct deposit using their own online banking login.

Business

If your business is financially impacted by COVID-19, you may be eligible for a $40,000 interest-free loan from the Government of Canada to help you with operating costs you're not able to defer.

Application and details available here.

Your business must have a Libro account opened prior to March 1, 2020 and a valid 15-digit business number (BN) which includes your payroll account (RP).

In addition, the legal name of the business on file with us and your business owner details must match what the CRA has on file, or else your direct deposit enrollment may not be successfully processed by CRA.

  • Canada Emergency Wage Subsidy (CEWS)*
  • Refund of payroll deductions
  • Corporation income tax refund
  • Goods and services tax/harmonized sales tax refund
  • Refund of excise tax or other levies

*Please note: you will need to sign up your payroll account (RP) to receive the CEWS by direct deposit.