Simplii Financial clients can now sign their bank account up for CRA direct deposit, a move the company says will get Canada Revenue Agency benefit payments into their hands faster. The launch means eligible customers can receive money from the CRA electronically rather than waiting on a mailed cheque.
According to Simplii’s announcement carried by PR Newswire Canada, the new option is aimed at anyone who receives CRA benefit payments and wants them deposited directly into a Simplii account. The change removes a step for people who previously had to enrol through other channels.
What is Simplii CRA direct deposit?
CRA direct deposit is a way to have payments from the Canada Revenue Agency sent straight into your bank account. Instead of a paper cheque arriving in the mail, the money is transferred electronically. Simplii’s launch lets its own clients set this up through the bank, linking their Simplii account to their CRA profile.
The announcement was made by Simplii Financial itself. The bank frames the feature as a convenience upgrade for clients who count on benefit money and would rather not wait for postal delivery.
Which payments does CRA direct deposit cover?
CRA direct deposit generally applies to payments the Canada Revenue Agency issues. These commonly include:
- Income tax refunds: money owed back to you after you file your return.
- Canada Child Benefit: monthly support for families with children under 18.
- GST/HST credit: quarterly payments to help offset sales tax for lower- and modest-income households.
- Other CRA-administered benefits and credits: various provincial and federal programs paid out through the CRA.
The Simplii announcement does not spell out an exhaustive list of every payment type covered. If you rely on a specific benefit, confirm it is included when you set up your enrolment.
How do I set up CRA direct deposit with Simplii?
The core of the launch is that Simplii clients can now enrol directly through the bank rather than entering their banking details manually elsewhere. Because the specific step-by-step process is not detailed in the announcement, the most reliable route is to check Simplii’s own instructions and CRA’s guidance before you start.
In general terms, you will need:
- An active Simplii account: the account where you want your CRA payments deposited.
- Your CRA account details: your social insurance number and access to your CRA information.
You can review the full details of Simplii’s offering through the company’s announcement here.
Why does CRA direct deposit get your money faster?
Direct deposit skips the postal system entirely. A mailed cheque has to be printed, sent, delivered, and then taken to a branch or ATM to be cashed or deposited. Electronic transfers move the funds straight into your account, so the money is usable sooner. That difference matters most for people who depend on benefit payments to cover regular bills.
There is also a reliability angle. Because nothing travels through the mail, there is no cheque to be lost, stolen, or delayed. For clients who have dealt with a missing payment before, that alone can be a strong reason to switch.
Do I have to switch to CRA direct deposit?
Enrolling is a choice, not a requirement. Clients who prefer their current arrangement can keep it. However, Simplii is presenting the direct deposit option as the faster path for anyone who wants their CRA benefit payments sooner. If you already receive payments by cheque, moving to direct deposit is the change that speeds things up.
Keep in mind that timing still depends on the CRA’s own payment schedule. Direct deposit shortens delivery, but it does not change the dates on which the agency issues benefits. For example, if a benefit is scheduled to be paid on a set date each month, that date stays the same – the funds simply reach you more quickly once released.
Where can I confirm the details?
Because the public announcement is brief, treat Simplii’s official communications and the CRA as the authoritative sources. Verify which payments qualify, how enrolment works, and any conditions tied to your account directly with Simplii before relying on the feature. The original news release was distributed through PR Newswire Canada and issued by Simplii Financial.
