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EFT Canada mystery

post #1 of 33
1/22/08 at 1:23am
Thread Starter 
Does anyone know what this company is and why they would be paying me money?? We are somewhat baffled. We have a no-fee PC account, which generates points when used at a specific grocery store. Every month I put our grocery money in there and we shop at the designated store. The account is only used for groceries. A few times I have noticed that there is more money in there then I think there should be, so I transfer the excess off to our savings account and I just figured we were doing better than I thought with grocery money. I finally got onto online banking for that account, and as it turns out, we've gotten three deposits (ranging from 100$-220$) from "EFT Canada". When I looked them up, it turns out that they're a company that handles deposits for small businesses and the like. I am increasingly baffled.
I had automatic deposits set up into that account from my job during my first university degree, but that was ~4 year ago, and I'm pretty sure I remember them coming in under the name of the pool I was working at. Not that I mind getting money, but I suspect that, at some point, someone is going to show up and want it back!
So, any ideas? Anyone know who/what EFT Canada is?

Thanks.
Katia

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post #2 of 33
1/22/08 at 1:49am
Quote:
Originally Posted by selkat View Post
Does anyone know what this company is and why they would be paying me money?? We are somewhat baffled. We have a no-fee PC account, which generates points when used at a specific grocery store. Every month I put our grocery money in there and we shop at the designated store. The account is only used for groceries. A few times I have noticed that there is more money in there then I think there should be, so I transfer the excess off to our savings account and I just figured we were doing better than I thought with grocery money. I finally got onto online banking for that account, and as it turns out, we've gotten three deposits (ranging from 100$-220$) from "EFT Canada". When I looked them up, it turns out that they're a company that handles deposits for small businesses and the like. I am increasingly baffled.
I had automatic deposits set up into that account from my job during my first university degree, but that was ~4 year ago, and I'm pretty sure I remember them coming in under the name of the pool I was working at. Not that I mind getting money, but I suspect that, at some point, someone is going to show up and want it back!
So, any ideas? Anyone know who/what EFT Canada is?

Thanks.
Katia
EFT means electronic funds transfer. Any direct or automatic deposits into my bank account say EFT followed by the location.
post #3 of 33
1/22/08 at 1:54am
Thread Starter 
So all the title of those transfers tells me is that the transfer came from Canada? Seriously? Who comes up with these things?!
post #4 of 33
1/22/08 at 2:38am
Is it possible it is from the feds? Not sure if you are currently on mat leave, but there have been some double payments recently.
post #5 of 33
1/22/08 at 2:59am
so its not intrest? PC seems to have some great rates.
Maybe you should ask?
post #6 of 33
1/22/08 at 4:38am
Thread Starter 
PC does have great rates, but not so much on a regular checking account.
The savings account we have with them is great though - no fees and a 4% interest rate until you hit 10,000$, at which point it goes up to 8 or 10% (I should really find out).

It could be from the feds, but I don't know what it would be. It's not mat leave. And, in our oh so gender equal country, all of our gst credits go directly to my husband. It's not an issue in our household, but the assumption that the man in the relationship should get the refund drives me batty. What happens in relationships where the financial power is already unbalanced? Does nobody think that perhaps the woman should get the gst refund, especially since women are the ones who are often earning less money than men. Share the wealth people, share the wealth! Totally OT. Sorry.

I am still very curious. Do you think if I call the bank, they'd be able to tell me more?
post #7 of 33
1/22/08 at 10:52am
I think you should call the bank. I am pretty curious too

Perhaps there was a screw-up in your taxes. no, then the government would give you a lump sum and it is initialed differently.


Ya, I hear you on the GST. I get it because I am single, but I hear about it from my sister. She gets soooo ticked off. Some one needs to take on the government and thier archaic system.
post #8 of 33
1/22/08 at 12:05pm
Could it be the Universal Child Care Credit? Or someone you know who uses the same bank being very generous and helping you out?

(I think the gst is given to the person who applies for it, and the person who applies for it it usually the one with the greater income, even though it is based on total family income. I got it when I was the breadwinner and dh was the sahd. But then again, the CTB always goes to the mother, which is just as sexist. )
post #9 of 33
1/22/08 at 12:11pm
Quote:
Originally Posted by Shenjall View Post
Could it be the Universal Child Care Credit? Or someone you know who uses the same bank being very generous and helping you out?

(I think the gst is given to the person who applies for it, and the person who applies for it it usually the one with the greater income, even though it is based on total family income. I got it when I was the breadwinner and dh was the sahd. But then again, the CTB always goes to the mother, which is just as sexist. )
I think the universal child care is exactly $100 per month per child..so if it's not exactly that amount then I don't think that's it. It would be paid on the 20th of the month.

Except last 2 months paid on the 13(before Christmas) and 18(because 20 was a Sunday)

It's a mystery...can you call the bank? I did notice PC doesn't put much detail on the accounts like other banks do.
post #10 of 33
1/22/08 at 12:50pm
Yep, it's your Universal Child Care Credit, it shows up as "EFT Credit Canada"
post #11 of 33
1/22/08 at 12:50pm
Could it be the Child Tax Benefit (not the UCCB)?! But then again, the amount of the CTB is the same amount/month and changes every June/July when they reassess based on the previous years' tax returns. The fact it says EFT Canada leads me to think it's from the feds but I know our bank statements for CTB and UCCB direct deposits say something to the effect of "Canada Child Tax" and "Canada Child Care". Hope the bank has some answers for you.
post #12 of 33
1/22/08 at 1:03pm
With both the Child Tax Credit & the Childcare benefit(and GST & any other gov't money) you would have had to give the government the banking info for the PC bank, and it comes under a different number.

GST goes to whomever in the household applies for it. Only 1 person can apply for it. It does not matter who in the household does because it is based on total income & does not change if the higher or lower income spouse applies for it. FWIW, when I do taxes for other people I always put it in the SAHP's name.

The Child Tax Credit & Childcare benefit is the same, it goes to whomever applies for it. IT could be either spouse, but generally the mother applies for it because it used to be the baby bonus & most mothers(because they typically did not work) used that money for groceries instead of having to ask their dh's for money for groceries.

Now, since you used to have wages put into that account I wonder if you belonged to a union? IF so there may have been a settlement for the period of time that you worked & it was retroactive so you were given wages based on the settlement. I've had it happen before when I worked for the gov't.

But yes, call the bank. They can tell you what it is & if it is even for you. Someone may have gotten numbers mixed up & I hope this isn't the case otherwise you owe that $ back.
post #13 of 33
1/22/08 at 1:42pm
I get 3 things from the government and none are labeled with EFT.

childtax benefit
Universal child 'something' benefit
the first two come in seperate amounts with seperate labels on the same day
and
Ontario childcare supplement-this comes about a week later
I had to send info in for it to be diretly deposited to my account.
GST is labeled as GST
I can't remember what my tax return is labeled as but it is not EFT.



have you called the bank yet?!
post #14 of 33
1/22/08 at 2:41pm
I take back my UCCB suggestion - I checked my bank and its labled as "fed govt".

I'm hoping you get to keep it!
post #15 of 33
1/23/08 at 1:00am
I use tdCanadaTrust as my bank. It shows as EFT Can Fed and EFT Can Ctb... I think the banks make the labels.

However the amounts should be the same each month for either of them.

Did you call the bank?
post #16 of 33
1/23/08 at 1:34am
Quote:
It could be from the feds, but I don't know what it would be. It's not mat leave. And, in our oh so gender equal country, all of our gst credits go directly to my husband. It's not an issue in our household, but the assumption that the man in the relationship should get the refund drives me batty. What happens in relationships where the financial power is already unbalanced? Does nobody think that perhaps the woman should get the gst refund, especially since women are the ones who are often earning less money than men. Share the wealth people, share the wealth! Totally OT. Sorry.
Who gets GST is up to you, you apply for it when you file your income tax. There is a box you check if you are the one applying (only one partner can apply). It is usually recommended that the person with the LOWEST income apply. GST comes in MY name, not my dh. I SAH and have no income, but I still indicate that GST comes to me.

Does your province/territory have an additional supplement that is given out? Alberta has some sort of employment benefit given out in January and July. Maybe that was it?
post #17 of 33
1/28/08 at 2:58am

EFT Mystery continued...

Hi all,

Sorry to intrude on this mother's forum, however I am a recently married male student with no children (nor does my spouse have any children) and I received this "EFT Credit Canada" in my PC account as well.

I will be calling the bank tomorrow to figure out what exactly is going on here. pretty sure it has nothing to do with Child care benefits?

looking forward to solving this mystery...or...not...don't really MIND having that extra cash in the bank!

~aw
post #18 of 33
1/28/08 at 12:24pm
Thats it. I'm opening up a PC account to get some eft money.
post #19 of 33
1/28/08 at 3:34pm
Quote:
Originally Posted by Notthemama View Post
Hi all,

Sorry to intrude on this mother's forum, however I am a recently married male student with no children (nor does my spouse have any children) and I received this "EFT Credit Canada" in my PC account as well.

I will be calling the bank tomorrow to figure out what exactly is going on here. pretty sure it has nothing to do with Child care benefits?

looking forward to solving this mystery...or...not...don't really MIND having that extra cash in the bank!

~aw
Hey there and welcome to MDC, feel free take a look around and stay awhile

If you figure out the mystery PLEASE come and give an update.

Shenjall- me too!
oh wait, I have one I should check it for some mystery money!
post #20 of 33
1/28/08 at 3:48pm
Thread Starter 
Well, I called the bank and they were unable to tell me anything usefull. They also suggested that it might be childcare benefits, however, since our only child is deceased and, in fact, wasn't even carried to term, I *really* don't think that's the case. I wish we had a reason to get child care benefits!

I have to call Revenue Canada and ask them what's up, says PC. Great rates and such, but PC is not the bank to have in terms of service. They're nice on the phone, but there is something to be said for going to a physical location and dealing with a real live person.

I've been thinking about this, and I think it might actually be our GST credit. Even though I file our taxes, and, on principle, would have applied for the credit in my name, it comes to us under DH's name. But, recently, we've been getting statements with no attached cheque. And, when I filed our taxes last year, I *think* I set up the automated payment to go into our PC chequing account because we wanted it in the PC savings account (but I couldn't get the deposit set up to go into that specific account). I think.

The government also decided that DH and I were divorced about a year and a half ago and started demanding that we pay them GST credits back. It was a massive gong show and I phoned and wrote and phoned and wrote and kept being told it was fixed, and then we'd get another letter stating that since we were divorced we owed the government money, bla, bla, bla. It's actually kind of funny, really. However, after sending in a copy of our marriage certificate and proof that we still reside in the same residence, together, for the umpteenth time, I did manage to convince someone that we were still married and never divorced. So, in the end, they owed us money. I think this might explain why we got $200+ on one occasion and have only gotten ~100$ on the other occasions. I think.

It's so easy to just loose track of money, hey? I tend to think I've got a pretty good handle on the whole thing, but it's so easy to slip up. Thankfully it's been a slip up into the black and not into the red!

Funny that you're having the same issue, Notthemama.

Bonus money is good. Yep.

Katia

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