EFT credit Canada usually means an electronic funds transfer deposit from the Canadian government or another payer that shows up on your bank statement. In most cases, it is not a fee or charge —it is money being deposited into your account, often for benefits like the Canada Child Benefit, GST/HST credit, or other government payments.

Quick Scoop

If you see “EFT CREDIT CANADA” on a statement, it generally means:

  • A direct deposit was made to your account.
  • The money often comes from a government program or another organization using electronic payment.
  • The exact source can vary, so the description alone may not tell you which benefit it is.

What it might be

Common possibilities include:

  • Canada Child Benefit.
  • GST/HST credit.
  • Employment insurance or other government benefit payments.
  • In some cases, another deposit labeled by your bank or payer in a similar way.

How to verify it

Check:

  1. Your bank transaction details.
  2. Your CRA account or benefit payment schedule.
  3. Any recent approval letters or notices from a government agency.

If the deposit looks unfamiliar, contact your bank first and then check with the relevant government office before spending it.

If you want, I can also help you figure out which exact payment yours most likely is based on the amount and date.