If you’re an RBC (Royal Bank of Canada) customer, then setting up RBC CRA direct deposit is a straightforward process, where in this article, we’ll walk you through the steps to set up CRA direct deposit for your RBC account.
The Canada Revenue Agency (CRA) offers a convenient way to receive your tax refunds, benefit payments, and other government payments through direct deposit. This method eliminates the need for paper checks and ensures that your funds are deposited directly into your bank account.
RBC CRA Direct Deposit
CRA deposit is a direct deposit arrangement with the Canada Revenue Agency (CRA) to have your tax refund, benefits, and other payments deposited directly into your bank account.
This is a convenient and secure way to receive your payments, and it can help you avoid lost or stolen cheques.
How to Set Up RBC CRA Direct Deposit in Mobile App
The following is the 5 step process to create RBC CRA direct deposit through mobile app with in no time.
- Open the RBC Mobile App, if you don’t have download from play store or Apple store
- Click on the “More” tab.
- Tap on “Settings”.
- Click on CRA Direct Deposit from Banking option.
- Follow the prompts and complete the process.
Setup RBC Direct Deposit CRA in Online Banking
Just follow the simple steps to create RBC direct deposit CRA after login to your RBC online banking
- Login to your RBC Online Banking account.
- Click on the “Accounts Summary” tab.
- Select the account you want to receive direct deposits for.
- Click on the “Set Up Direct Deposit with Canada Revenue Agency” link.
- Follow the on-screen prompts.
To set up RBC direct deposit, you will need to provide the following information to the CRA
- Your social insurance number (SIN)
- Your full name and current address
- Your date of birth
- The account number and transit number for your RBC account
- A voided cheque or deposit information page from your RBC account
Also Read: RBC Appointment
How to set up CRA direct deposit for my business
The set up process for the CRA Direct Deposit for the business is same as the process discussed above, the only difference is you need to have the following
- RBC Bank account which is activated on or before March 1, 2020
- Your business must have a valid 15-digit CRA business number.
Reference: rbcroyalbank.com/ways-to-bank
How long does it take for CRA direct deposit to be set up with RBC
The time it takes for CRA direct deposit to be set up with RBC can vary. According to RBC’s FAQ page, it can take between 24 to 48 hours for the changes to be reflected in CRA My Account for Individuals
Can I set up CRA direct deposit with RBC if I don’t have an RBC account
No, you cannot set up CRA direct deposit with RBC if you don’t have an RBC account. Direct deposit is a method of payment where money is electronically deposited into your bank account. To set up a direct deposit with RBC, you must have an RBC account. You can open an RBC account online or at any RBC branch.
Are there any fees associated with setting up CRA direct deposit with RBC
No, there are no fees associated with setting up CRA direct deposit with RBC. You can set it up through RBC Online Banking or the RBC Mobile app.
You will need to provide your Social Insurance Number (SIN), the account number and transit number of your RBC account, and the CRA reference number for the type of payment you want to receive directly deposited.
Can I set up CRA direct deposit with RBC if I live outside of Canada
No, you cannot set up CRA direct deposit with RBC if you live outside of Canada. The CRA only allows direct deposits to Canadian bank accounts. If you live outside of Canada, you can still receive your CRA payments by mail or by setting up a bank account in Canada.
What happens if I change my RBC account information?
You will need to update your CRA direct deposit information with the new account information. You can do this online, through the RBC Mobile app, or by calling RBC customer service.
Can I set up CRA Direct Deposit for RBC joint accounts?
Yes, you can set up CRA Direct Deposit for RBC joint accounts. Most joint accounts are eligible for CRA Direct Deposit, but each account holder must complete their own CRA Direct Deposit Enrollment in order to receive any amounts payable to them from the CRA.
Can I split my CRA payments between multiple bank accounts?
No, you cannot split your CRA payments between multiple bank accounts. When you set up CRA Direct Deposit, you can only specify one bank account to receive your payments.
If you need to split your payments between multiple accounts, you can do so manually by making separate payments from your bank account.