Direct Deposit Changes: What Canadian Taxpayers Need to Know About CRA Updates
If you’re expecting a tax refund or receive benefits from the Canada Revenue Agency (CRA), there’s an important direct deposit change you need to know about. Starting March 24, 2025, you can no longer update your direct deposit information through EFILE or by phone. This security measure affects how you’ll manage where your CRA payments go.
Don’t worry — you still have several convenient ways to update your banking information. Let’s break down what’s changing, why it matters, and exactly what you need to do.
Why Is the CRA Making Direct Deposit Changes?
The CRA is constantly working to protect your personal and financial information from fraudsters. Unfortunately, cybercriminals have been targeting the tax system, trying to redirect people’s refunds and benefit payments to fraudulent bank accounts.
By removing the ability to change direct deposit through EFILE (the system tax preparers use) and phone channels, the CRA is adding an extra layer of security. Think of it like removing a door that bad actors were trying to break through.
What’s Changing on March 24, 2025
Here’s what you can no longer do after March 24, 2025:
- Update direct deposit through your tax preparer: Even when filing your tax return electronically, your tax professional won’t be able to add or change your direct deposit information
- Change banking details by calling the CRA: Phone agents will no longer process direct deposit updates
The good news? You have three other secure ways to manage your direct deposit that are actually faster and more convenient.
How to Update Your Direct Deposit Information
Option 1: Use Your CRA My Account (Fastest Method)
Your CRA My Account is like your personal tax dashboard. It’s the quickest way to update where your money goes.
Here’s how to do it:
- Sign into My Account: Visit the CRA website and log in with your CRA user ID and password
- Navigate to direct deposit: Look for the direct deposit section in your profile
- Enter your banking information: Add your bank account number, transit number, and institution number
- Save your changes: Your information is updated immediately
Don’t have a CRA My Account yet? You can create one using the document verification service, which gives you instant access without waiting for a security code in the mail.
Option 2: Update Through Your Bank or Credit Union
Most Canadian banks and credit unions now offer a super convenient feature — you can update your CRA direct deposit right through your online banking.
The process typically works like this:
- Log into your online banking: Use your bank’s website or mobile app
- Find the CRA direct deposit option: Look under settings, government services, or direct deposit (each bank is slightly different)
- Provide consent: Authorize your bank to share your account information with the CRA
- Confirmation: Your CRA direct deposit information updates the next business day
This method is especially handy if you’re switching banks. Just remember: don’t close your old bank account until you’ve confirmed your first CRA payment landed in your new account.
Option 3: Mail a Paper Form
If you don’t use computers or can’t access online services, you can still update your direct deposit the traditional way.
Here’s what to do:
- Get the form: Download or request the “Canada Direct Deposit Enrolment” form from the CRA
- Fill it out completely: Include your banking information and personal details
- Mail it: Send it to the Receiver General for Canada at the address shown on the form
Keep in mind that mailing takes longer to process than the electronic options, so plan ahead if you’re expecting a refund or payment soon.
What This Means for Tax Season
If you typically file your taxes with a tax preparer and they used to handle your direct deposit setup, you’ll need to take an extra step this year.
Here’s what to do:
- Update before you file: Set up or change your direct deposit through My Account or your bank before tax season
- Verify your information is current: Double-check that your banking details are correct in your CRA account
- Tell your tax preparer: Let them know you’ve already handled the direct deposit separately
Your tax refund will still arrive quickly — you just need to manage the banking information yourself now.
Protecting Yourself from Tax Fraud
While the CRA is making these direct deposit changes to protect you, there are additional steps you should take to keep your information safe.
Monitor Your CRA Account Regularly
Check your CRA My Account at least once a month, especially during tax season. Look for anything unusual like:
- Unexpected address changes: Did someone change where your mail goes?
- Benefit applications you didn’t make: Are there requests for benefits you never applied for?
- Direct deposit changes: Has your banking information been altered without your knowledge?
If you spot anything suspicious, contact the CRA immediately.
Use Strong, Unique Passwords
Your CRA account password should be different from every other password you use. Make it complex with a mix of letters, numbers, and symbols. Change it regularly, and never share it with anyone.
Keep Your Contact Information Current
The CRA needs to reach you if they spot suspicious activity on your account. Make sure your:
- Mailing address is up to date
- Email address is current and secure
- Phone number is correct
Install Security Software
Protect your computer, tablet, and phone with anti-virus software. Keep it updated to defend against the latest threats. Visit GetCyberSafe.ca for free resources on protecting your digital information.
What to Do If You Receive Suspicious Communications
Scammers often pretend to be from the CRA. Remember that the CRA will never:
- Ask for payment by gift cards, cryptocurrency, or prepaid credit cards
- Threaten you with immediate arrest or deportation
- Use aggressive or threatening language
- Request your full social insurance number or banking details by email or text
If something feels off, hang up or delete the message. Then contact the CRA directly using the phone number on their official website.
Planning Ahead for a Smooth Tax Season
To avoid any delays with your tax refund or benefit payments, take action now:
- Set up or verify your direct deposit before March 24, 2025
- Create a CRA My Account if you don’t already have one
- Bookmark the CRA website and your online banking portal for easy access
- Write down (and store securely) which bank account is registered for CRA direct deposit
Why Working with a Tax Professional Still Matters
Even though your tax preparer can’t update your direct deposit anymore, they remain an invaluable partner in managing your taxes. A professional accountant or bookkeeper can:
- Maximize your refund by finding deductions and credits you might miss
- Ensure your return is accurate and filed correctly the first time
- Provide year-round advice on tax planning and financial decisions
- Guide you through these security changes and help you set up your CRA My Account
- Handle complex tax situations like self-employment, rental properties, or investments
At JHG Corporate and Tax Services, we help Canadian taxpayers and business owners navigate changes like these every day. While we can’t update your direct deposit through EFILE anymore, we’ll walk you through the new process and ensure you’re set up for fast, secure refunds.
These direct deposit changes might feel like an inconvenience, but they’re an important step in protecting your hard-earned money from fraudsters. Take a few minutes to update your information today, and you’ll enjoy faster, more secure payments from the CRA.
Need Help With Taxes?
When it comes to taxes, they are always changing, always being updated!
That’s why it’s always smart to work with professionals like JHG Corporate and Tax Services Inc.
Get expert help to make sure you’re receiving every dollar you deserve — no hidden errors, no missed benefits.
Click here to book an appointment with a real tax pro today! Or call us directly at 778-691-5566.
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Frequently Asked Questions
How do I change my CRA direct deposit information after March 2025?
Starting March 24, 2025, you can no longer update your CRA direct deposit through EFILE or by phone. You’ll need to update your banking information directly through My Account on the CRA website, the MyCRA mobile app, or by visiting a Service Canada office in person with proper identification.
Can my tax preparer change my direct deposit with CRA in 2025?
No, after March 24, 2025, tax preparers will no longer be able to add or change your direct deposit information when filing your tax return through EFILE. You’ll need to update your banking details yourself through CRA My Account, the MyCRA app, or in person at Service Canada.
Why is CRA removing phone and EFILE direct deposit changes?
The CRA is making these changes to protect Canadians from fraud and cybercriminals who have been trying to redirect tax refunds and benefit payments to fraudulent bank accounts. By limiting how direct deposit can be changed, the CRA is adding an extra layer of security to keep your money safe.
Will I still get my tax refund if I don’t update my direct deposit before March 2025?
Yes, you’ll still receive your tax refund and benefit payments even if you don’t update anything before March 24, 2025. The change only affects how you update your banking information, not how you receive payments—your existing direct deposit will continue to work as normal.
Explore Our Services
When it comes to taxes, they are always changing, always being updated!
That is why it is always recommended to use a professional like JHG Corporate and Tax Services Inc to get your taxes done to ensure you are getting the most out of your tax return.
Click here to book an appointment with a real tax pro now!
Or Call Our Hotline Today: 778-691-5566
