U.S. markets open in 9 hours 16 minutes

Scotiabank Launches Online Enrollment for CRA Direct Deposit of Canada Emergency Wage Subsidy Funds for Business Customers

TORONTO , April 27, 2020 /CNW/ - Scotiabank announces quick and secure access to the Canada Emergency Wage Subsidy (CEWS) funds, effective immediately for business banking customers who enroll in direct deposit with the CRA.

Scotiabank (CNW Group/Scotiabank)

Business banking customers who are approved to receive Canada Emergency Wage Subsidy funds should enroll in direct deposit with the Canada Revenue Agency (CRA) through ScotiaOnLine, the Scotia Mobile app, and ScotiaConnect for quick and secure access. Business customers should sign-in to their normal online banking channel to enroll, or contact their Small Business Advisor for Small Business Customers or Relationship Manager for Commercial and Corporate customers, for help in getting enrolled.

Scotiabank business customers signed up for direct deposit will receive relief payments directly into their operating account, in a convenient and secure way. Businesses must first determine their eligibility for CEWS and then apply for the relief payments directly with the CRA.

"Scotiabank continues to support our business banking customers by providing access to the government funds they need to navigate through these uncertain times," said Dan Rees , Group Head, Canadian Banking. "We encourage all our business customers to use Scotiabank's online tools to enroll for direct deposit with the CRA, to ensure quick and secure access to the funds they need, rather than waiting for physical cheques to arrive."

Scotiabank business customers should visit Scotiabank.com for information on how to enroll for CRA direct deposit, which takes only a few minutes to submit. Once enrolled, businesses will receive CRA payments such as benefits, credits and refunds deposited directly to their Business Operating Account.

For more information on all of our relief programs for individuals and businesses, please visit Scotiabank.com.

About Scotiabank

Scotiabank is a leading bank in the Americas. Guided by our purpose: "for every future," we help our customers, their families and their communities achieve success through a broad range of advice, products and services, including personal and commercial banking, wealth management and private banking, corporate and investment banking, and capital markets. With a team of approximately 100,000 employees and assets of approximately $1.2 trillion (as at January 31, 2020), Scotiabank trades on the Toronto Stock Exchange (BNS.TO) and New York Stock Exchange (BNS). For more information, please visit http://www.scotiabank.com and follow us on Twitter @ScotiabankViews.

SOURCE Scotiabank


Cision

View original content to download multimedia: http://www.newswire.ca/en/releases/archive/April2020/27/c4962.html