CRA Direct Deposit through RBC
Register for CRA Direct Deposit through RBC as a way to receive the Canada Emergency Response Benefit (CERB) or Canada Emergency Student Benefit (CESB) faster!
Many Canadians are applying for financial relief through the Canada Emergency Response Benefit (CERB) or the Canada Emergency Student Benefit (CESB) . To access your money faster if you’re eligible, we encourage you to sign up for direct deposit from the Canada Revenue Agency. Please note that registering for CRA Direct Deposit does not register you for the CERB or CESB. You’ll need to apply for the CERB or CESB directly through the CRA website.
Find out more about how to set up CRA Direct Deposit in RBC Online Banking or the RBC Student Edition in the RBC Mobile app.Login to Online Banking Download the app
RBC Client Relief Program1 – Youth and Student Initiatives
To support Canadians’ cash flow needs, there are a range of options available to clients, including:
- Up to three months’ of payment deferrals on:
- Credit cards
- Installment loans
- Lines of credit including student line of credit
- Auto loans
- Other self-serve options for financial relief, available through online and mobile banking
- Fee Waivers
Fee waivers on stop payment and ATM statement fees
For student line of credit payment deferrals (RBC Royal Credit Line for Students), please contact an advisor. Book an appointment online or give our Student Loan Customer Service Centre a call at 1-800-363-3822 to get more details.
To support clients facing additional pressure from illness, lost employment or unique family circumstances, clients are encouraged to book a call with an advisor for additional relief measures including:
- Reimbursement for 50% of credit card interest charges for clients receiving minimum payment deferrals
- Refinancing or credit restructuring
- Personalized support
More financial relief is available for these and other products by speaking with one of our advisors. As our call centre continues to experience extremely long wait times, we encourage you to use our online booking tool to schedule a time to speak with us by phone.
Government Relief Programs for Youth
The Federal government has announced a series of measures as part of its COVID-19 Emergency Response Plan to help Canadians, including the CERB and CESB, which provide emergency benefits to those who have lost their jobs or work opportunities as a result of COVID 19. Both the CERB and CESB programs will be delivered by the Canada Revenue Agency (CRA). To determine whether you are eligible for either program, please see the details below. Please note that this information is as of May 15, 2020 please visit the government program links below for the most up-to-date information and program criteria.
Canada Emergency Relief Benefit (CERB)
If you’ve stopped working because of reasons related to COVID-19, you may be eligible to receive the CERB through the Government of Canada. Eligible workers will receive $500 every week for up to 16 weeks.
RBC has an interactive tool to help you see if you may qualify for the CERB by answering a few quick questions. Please note that RBC does not make any determinations with respect to eligibility, amount, or timing of the CERB; for the most up-to-date information please visit the government website.
Canada Emergency Student Benefit (CESB)
Canada Emergency Student Benefit (CESB) Post secondary students and recent graduates who are ineligible for the CERB and who will experience financial hardship over the summer due to COVID-19 may be eligible to apply for the CESB. From May through August 2020, the CESB will provide temporary income support to eligible post-secondary students and new graduates who are unable to work or find work this summer due to COVID-19, or who are working and not making more than $1,000:
- $1,250 every four weeks to eligible students
- $2,000 every four weeks for eligible students with dependents and those with disabilities
Starting on May 15, 2020, eligible students will be able to apply for the CESB online through the CRA. For step-by-step instructions on how to apply, please visit the government website.
Canada Student Loans and Canada Apprentice Loans Deferrals
The federal portion of student loans will be receiving a six month interest-free moratorium (until September 30, 2020), which means all payments will be paused during this period. Students do not need to apply for the moratorium, all student loan borrowers will automatically have their repayments suspended. A number of provincial and territorial student aid services may also be offering student loan payment deferrals. Check with your provincial or territorial student aid service for more details.
If you have set up pre-authorized debit to pay down your student loan, then payments from your RBC bank account will be automatically stopped during this time period (March 30, 2020 – September 30, 2020) and you do not need to take further action And if you are making payments by cheque or other means, you will not be required to make any payments until the end of the suspension period. If you have any questions about student loan payments from your RBC bank account, please book an appointment online or give our Student Loan Customer Service Centre a call at 1-800-363-3822.
In the Community
RBC is committed to supporting COVID-19 community response efforts in Canada, the U.S. and globally.
We are actively working with our community partners, subject matter experts, and the public and private sectors to understand and determine where the greatest community needs are and how to continue delivering the right support where and when it is needed most. Some of our initiatives in addition to Future Launch at Home include:
RBC has donated funds to respond to community needs in Canada, the U.S. and globally to charitable partners including Food Banks Canada and Feeding America.
Visit RBC Student Solutions for more youth related information.
Frequently Asked Questions
Have Questions? Visit our frequently asked questions.
While some of these options may be available to you, they may increase your interest costs or your outstanding principal balance over the life of your loan or increase the outstanding balance on your credit card during the relief period, if applicable. You should carefully evaluate your financial situation and priorities before exercising any of these options to the extent they are available to you. The RBC Client Relief Program is subject to change and is available for a limited time with some options available only until June 30, 2020.