Business customers are encouraged to enroll in direct deposit for quick and direct access to the CEWS
Employers should visit their bank's online or mobile business portals for information on when and how to enroll for CRA direct deposit through their financial institution or, for those already registered for CRA's My Business Account, update their direct deposit account information. The launch date of each financial institution's CRA direct deposit services will vary. Businesses must first determine if they are eligible for the CEWS and apply directly with the CRA. Registration to direct deposit is only required once – if an employer is already registered with the CRA for this service, there is no need to do so again.
Starting this week, employers signed up for direct deposit with the CRA will be able to receive their emergency wage subsidy quickly and securely to a Canadian business operating account at a Canadian financial institution. Business payments made through direct deposit should begin to appear in employers' accounts as of
"Banks are working together with the federal government to get the emergency wage subsidy flowing to Canadian businesses faster, securely and more directly, rather than waiting on a physical cheque to arrive," said
Employers can sign up for CRA direct deposit with their financial institutions even after applying for the CEWS. Businesses eligible for CEWS payment of
This initiative builds on the successful execution of a similar project that facilitated access to the
For more information, visit the CRA's webpages on direct deposit and COVID-19. Canadian businesses are also encouraged to visit their bank's website:
CIBC
Laurentian Bank of Canada
RBC
Scotiabank
TD Bank Group
About the
The
Mathieu Labrèche
(416) 918-2777
mlabreche@cba.ca
Bank media contacts:
(416) 867-3996
paul.gammal@bmo.com
CIBC
(416) 980-4048
tom.wallis@cibc.com
(416) 673-6997
pascal.dessureault@hsbc.ca
Laurentian Bank of Canada
(514) 284-4500 ext. 40015
helene.soulard@blcgf.ca
(514) 394-8644
Claude.breton@nbc.ca
RBC
AJ Goodman
(647) 286-4032
aj.goodman@rbc.com
Scotiabank
(437) 234-1137
alen.sadeh@scotiabank.com
TD Bank Group
(647) 261-6979
Jillian.tanouye@td.com
SOURCE
© Canada Newswire, source