In case you have changed your bank account recently, you should also remember to update your banking details with the Canada Revenue Agency (CRA). Having your banking details updated will ensure that you get tax refunds and other government benefits without any delays. Using the My Account feature of CRA is the most convenient way of updating your banking details; however, there are also other ways for doing this if you cannot use your account online. This article will tell you about Change Banking Information With CRA, when you need to do it, and what will happen in case of outdated information.
Why Should You Change Your Bank Information?
CRA needs your bank information in order to pay you numerous types of payments via direct deposit. If your bank account has been closed or your information stored with the government is outdated, you might face delays and problems with receiving your money.
By changing your bank information, you’ll be able to get:
- Income tax refund
- GST/HST credit
- Canada Child Benefit (CCB)
- Canada carbon rebate
- Canadian workers benefit
- Old age security (OAS)
- Guaranteed Income Supplement (GIS)
- And other federal/provincial benefits payments
Moreover, by keeping your account up-to-date, you’ll eliminate the possibility of any interruptions when changing banks.
When Should Your CRA Banking Information Be Updated?
The following is when you need to update your CRA banking information:
Opening of a new bank account.
Change of the financial institution.
Closure of an old account.
Changes to the account number.
Desire to receive future payments into another account.
Merger of a bank with another, resulting in the issuance of new account information.
Updating your information before the next payment helps avoid any delay in receiving your money.
If you’re expecting a tax refund, you may also find our guide on CRA Tax Refund Status 2026: How to Check & Common Delays helpful for tracking your payment after updating your banking information.
What Information Do You Need?
To change your banking information, you will need:
- Social Insurance Number (SIN)
- Date of Birth
- New bank account number
- Branch (transit) number
- Financial Institution Number
- Identification document (where necessary)
- Access to your CRA My Account
With this information on hand, you’ll be able to save time and minimize mistakes.
Method 1: Change Banking Information Through CRA My Account
The fastest and easiest way to change your banking information is to use CRA My Account.
Step 1: Log in
Log in to your account at CRA My Account using either your:
- CRA user ID and password, or
- Sign-In Partner service at your financial institution.
If you haven’t created an online account yet, follow our CRA Login Guide 2026 to learn how to register and securely access CRA My Account.
Step 2: Go to Direct Deposit
Once you have logged in:
- Go to your account dashboard page.
- Select “Profile” or “Direct Deposit”.
- Select the “Update Banking Information” tab.
Step 3: Add Your Updated Banking Information
Enter your:
- Institution number
- Transit number
- Account number
Review your information before completing your submission.
Step 4: Verify That the Information Was Updated
Upon submission, the Canada Revenue Agency will give you a confirmation screen.
Most often, a confirmation will be provided to you through your CRA mailbox.
Remember to keep a copy of this confirmation.
Method 2: Update Bank Information via the Use of a Banking Service
In many cases, banks in Canada have introduced a service where users can update their CRA direct deposit by using their online banking services.
If the banking service is offered:
- Log in to the online banking.
- Find the service of CRA Direct Deposit or Government Direct Deposit.
- Following the instructions, authorize the update.
Your information will be automatically forwarded to the CRA through the bank service.
This approach can be more convenient if you use online banking often.
Method 3: Call the CRA
If you are not able to use CRA My Account or online banking, you might be able to change your banking information by speaking with someone at the CRA.
To call the CRA, you will need the following information:
- Your Social Insurance Number
- date of birth
- Your current address
- Details from your most recent tax return
- Your new banking information
The CRA may ask other security questions to confirm your identity.
How long does it take to update CRA banking information?
Time varies according to the process used to make the request.
On average:
- Online updates get processed faster.
- Updates that need to be manually verified can take some time.
- Updates made closer to the date of a payment might not be applied until the next payment.
Therefore, it is recommended that banking information be updated immediately after changing banks.
What payments does it affect?
The banking information will be relevant to CRA payments, such as:
- Income tax refund
- GST/HST credit
- Canada Child Benefit
- Canada Carbon Rebate
- Canada Workers Benefit
- Refunds for Disability Tax Credit
- Other government payments
An update of banking information only once will apply to future payments from the CRA.
If you receive government benefit payments, you may also want to read our Canada Benefit Payment Dates 2026 guide to stay informed about upcoming payment schedules.
Updating Banking Information for Others
Usually, it is possible to update banking information in one’s CRA account alone, except where someone is an authorized representative who is allowed.
Authorized representatives are advised to first ensure they meet CRA authorization requirements before updating any account information.
How Does Updating Your Banking Information Affect Pending CRA Payments?
Submitting updates on your banking information does not automatically change the processing of your past transactions. The processing of any changes will depend on whether the transaction takes place before or after the update.
Here’s an example of this process:
- In case the Canada Revenue Agency (CRA) receives your updated banking information before your next payment, any future refunds and benefits will be paid directly to your new account.
- If a payment has already been processed with the use of your old banking information, it can still be paid to your old account. In case this account is closed, the money may return to the CRA for reissuance at a later date.
To prevent any issues with delays in your payments, you should update your banking information immediately.
If you’re waiting for a tax refund after updating your banking details, read our CRA Tax Refund Status 2026: How to Check & Common Delays guide to learn how to track your payment.
What Should You Do if You Provide Incorrect Banking Information?
Problems like a wrong account number or a wrong transit number may cause delays in payments.
If you have noticed that you entered wrong information:
- Log into CRA My Account right away.
- Make corrections to your banking information by providing the correct data.
- Check your CRA account for verification.
- If you expect any payment soon, contact the CRA and ask for help.
Quick correction will help you prevent any missed deposits.
Avoiding Common Mistakes
Several taxpayers tend to delay their payments because of errors that are easy to avoid. The following are examples of the most common errors made:
Delaying Payment
Do not delay until a payment deadline is approaching. Always update your banking information as soon as your account becomes active.
Making Typographical Errors
Always ensure that the following numbers are correct:
- Number of the institution
- Number of transit
- Number of accounts
Even a single number being wrong will affect your payments.
Closing a Previous Account Prematurely
If possible, do not close your previous account until you have received at least one payment from the CRA into your newly opened account.
Joint Account Problems
If you are changing to a joint account, check whether the account is capable of accepting direct deposits in your name.
Neglecting CRA Communication
If the CRA requires any extra information from you, always be prompt to respond.
Tips for Protecting Yourself During an Update of Banking Information for the CRA
The protection of your information is equally essential to its maintenance.
Here is what to do to stay secure:
- Always access your CRA account via the CRA website.
- Do not click on links sent to you via email or message saying that they are from the CRA.
- Choose a good password for your CRA account.
- Use multi-factor authentication if you have it.
- Never disclose your CRA credentials to anyone.
- Check your CRA account for any changes made without your consent.
If you suspect any fraudulent activity, contact the CRA right away.
Having trouble accessing your account? Our CRA Login Problems 2026 guide covers common sign-in issues and how to resolve them securely.
Is It Possible To Update Your Banking Information More Than Once?
Yes. Should you decide to change your bank again or update your banking information in the future, you can do so by sending another update via CRA My Account or other authorized means.
Every update is handled separately; therefore, ensure that your most recent information has been updated.
Commonly Asked Questions
How do I update my banking information with CRA in 2026?
One quick way is to log in to CRA My Account, go to the direct deposit section, and input the details of your new banking information. Some participating Canadian financial institutions also have the provision of updating information through online banking services.
How much time will it take to update the banking information with CRA?
Updates online are faster compared to those made where manual verification is needed. The time taken for the update depends on your individual case.
Is it possible that changing the banking information may delay my refund from CRA?
Not normally. If the banking information update takes place before the refund is made, then your refund will be transferred to your new account. Otherwise, the payment will remain unaffected by the change.
Can I update my banking information at the CRA through my bank?
Yes. Some Canadian banks participate in the CRA Direct Deposit enrollment program. You should check with your bank to know more about this facility.
How will my payment be made when my bank account is already closed?
If your old account has been closed, the payment may be returned to the CRA. Once returned, the CRA can reissue the payment after your updated banking information has been processed.
Conclusion
Making sure that the Canada Revenue Agency is kept informed regarding the changes in your banking details is one of the simplest means of preventing any delay in the arrival of your tax refunds and government benefits. It does not matter whether you have changed your bank or opened a new one, or if you have simply made a change in your financial details; making this update immediately will make sure that all your payments in the future go into the right bank account.
The easiest way of doing it would be by using CRA My Account, although it should be known that many of the financial institutions allow the updating of the details through online banking services as well.
