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Recourse for a Direct Deposit to wrong bank account
June 15, 2023
12:48 pm
Wrayzor
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All that plus the numbering convention has been around for decades and, when started, the idea of providing a full account number for electronic transfers was likely not on anyone's radar. Changing now would be a nightmare for FIs and customers.

I'm old enough to recall hand written entries in a passbook. And having one bank account as being the norm.

June 15, 2023
12:51 pm
cgouimet
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Wrayzor said
All that plus the numbering convention has been around for decades and, when started, the idea of providing a full account number for electronic transfers was likely not on anyone's radar. Changing now would be a nightmare for FIs and customers.

I'm old enough to recall hand written entries in a passbook. And having one bank account as being the norm.  

And we all insist on backward compatibility!

CGO
June 16, 2023
5:35 pm
Norman1
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Direct deposit routing is fine. The institution, transit, and account numbers combined unqiuely identifies the account.

Problem is the person provided CRA with the wrong transit number. No different than someone providing an incorrect property roll number to their bank's online bill pay service and paying someone else's property tax.

July 18, 2023
6:53 am
frugal lady
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UPDATE: CRA insists that FI should have rejected the deposit. CRA says they will recover total funds from FI (not the account holder) and then auto deposit funds to DIL (corrected account details). DIL still waiting for funds.

This is good news and will be very good news when the funds are actually received by DIL. I will update when the funds are received.

July 18, 2023
7:54 am
AltaRed
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That is indeed encouraging!

August 18, 2023
9:50 am
frugal lady
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UPDATE: Happy to advise that DIL has received the funds that were deposited in error to another account. I think she is very, very fortunate to have received the funds in this scenario. sf-smileKudos to CRA in this instance.

August 18, 2023
7:56 pm
Pirithous
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Good news! And fortunate indeed.

Pirithous

"Sometimes I do what I want to do. The rest of the time, I do what I have to."

August 19, 2023
5:48 pm
Dean
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frugal lady said

UPDATE: Happy to advise that DIL has received the funds that were deposited in error to another account. I think she is very, very fortunate to have received the funds in this scenario. sf-smileKudos to CRA in this instance.  

    sf-smile All's Well, That Ends Well sf-smile

And it's a Good Reminder for us All ... check everything Twice (or more),
before hitting ENTER.

    Dean

sf-cool " Live Long, Healthy ... And Prosper! " sf-cool

August 20, 2023
5:34 am
savemoresaveoften
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Its a good ending but I also think its because the OP's DIL got lucky and got a passionate CRA staff who is willing to pursue to have it fixed (vs someone who just go lazy and says it cant be reversed and pointed at the bank)

August 22, 2023
1:44 pm
COIN
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Whew! I recently got a direct deposit from the CRA. All good.

You can go to "My Account" on the CRA website and check your bank direct deposit info to ensure its accuracy.

Question: Were CERB payments direct deposited?

August 22, 2023
1:52 pm
cgouimet
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COIN said
Whew! I recently got a direct deposit from the CRA. All good.

You can go to "My Account" on the CRA website and check your bank direct deposit info to ensure its accuracy.

Question: Were CERB payments direct deposited?  

Yes they were. I believe everything goes Direct once you serup Direct Deposit.

And, whenever a change is made to your account, you immediately get an email. Your current email is also notified if it's replaced with a new one.

CGO
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