Set up Direct Deposits and Automatic Payments
Have your payroll, benefits, tax refund or other incoming payments automatically deposited into your account.
Or, set up automatic payments for regular expenses, like your rent, mortgage payment or bills. Relax knowing your bills will be paid on time.
Direct deposits are a quick and secure way to get your payroll, pension, benefits or other funds deposited automatically into your account. Once you’ve linked your account electronically, your money will be deposited directly into your account. You can then conveniently pay bills and manage your money using the HSBC Canada Mobile app or Online Banking.
Set up automatic payments (also called pre-authorized payments or debits) for recurring expenses like rent, mortgage payments or bills. Instead of sending a cheque or paying in person, money will be automatically withdrawn from your account. You won’t have to worry again about paying a late fee or losing a cheque in the mail.
You may be asked to provide a void cheque when setting up a direct deposit or automatic payment. Since your account information is printed on each cheque, the void cheque can be used to set up an electronic link between your bank account and the company.
If you want to use one your own cheques, write “VOID” across it with a pen, avoiding the numbers along the bottom of your cheque – this is your account info needed to create a link to your account.
Set up a Direct Deposit or Automatic Payment
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