Frequently Asked Questions


We are here for you - Member FAQs


We recognize uncertainty can be difficult. Here are some Frequently Asked Questions to provide you with some answers during this uncertain time.


Is there support for members who are experiencing financial hardship due to COVID-19 impacts, such as deferring mortgage payments or other financial obligations? Expand/Collapse


In addition to support that is being provided by our government, we recognize that some of you, for personal and/or business reasons, we will need additional assistance to help you get through this extraordinary time. Please call your branch to discuss options to help with your cash flow.


What if I need cash? Expand/Collapse


TME Savings members have access to the largest surcharge-free ATM network in Canada through THE EXCHANGE® Network, with over 3,700 ATMs to serve them. 
Find the one closest to you.


I’m not comfortable going into the branch, what can I do? Expand/Collapse


Your banking can be done anywhere and at anytime by using our

  • Online Banking service accessible through TME Savings,
  • Mobile Banking App available for download through the iPhone Android, and
  • 24-Hour Telephone Banking accessible by calling, 1-866-863-9119 

These services allow you to:

  • Check balances
  • Pay bills
  • Send money (mobile and online only)
  • Transfer funds between accounts
  • Deposit cheques (mobile only)
  • Find the nearest TME savings or Exchange Network ABM (mobile and online only)

Not set-up for online or mobile banking? Give us a call:

                           - Toronto Branch:    416-392-6868
                           - Etobicoke Branch416-622-9300 

 and we can help set you up.

CRA Direct Deposit FAQs

What’s the benefit of enrolling for Direct Deposit with the Canada Revenue Agency (CRA)? Expand/Collapse


If you’re receiving payments from the Canada Emergency Response Benefit (CERB) or other CRA benefits, signing up for direct deposit ensures that you’ll receive payments faster than traditional mail.

How do I set up Direct Deposit through TME Savings? Expand/Collapse


It’s easy! If you’re registered for Online Banking, Please download Direct Deposit Form, enter the personal information requested, sign and mail a copy of Direct Deposit form to our address 

TME Savings, New City Hall,

100 Queen St. W,

Main floor, Toronto,

ON, M5H 2N2

Important: You will need to login to your “CRA – My Account” the following business day to confirm that your direct deposit has been successfully set up.

How long will it take for my account information to get to CRA? Expand/Collapse


Account information will be processed after a minimum of one business day. You may login to your “CRA – My Account” the following business day to confirm that your direct deposit has been successfully set up.

I’m already registered for Direct Deposit through the CRA. Do I need to set it up again? Expand/Collapse


If you’ve been using Direct Deposit through the CRA, you don’t need to sign up again. The most recent enrolment you have made will become the account on file with the CRA.

How do I know if I’m eligible to set up Direct Deposit with the CRA? Expand/Collapse


If you’ve previously filed a tax return with the Canada Revenue Agency, you are eligible to set up a Direct Deposit.

Can I use this service to receive other types of payments such as tax refunds, GST/HST credits or child benefit payments? Expand/Collapse


Yes. Any credit coming from the Canada Revenue Agency will be deposited to your account. For more information, please refer to the Canada Revenue Agency Direct Deposit website.

Who do I call if I don’t get my payment when expected? Expand/Collapse


As payments are administered through the Canada Revenue Agency, you will need to login to your “CRA – My Account” to ensure the information you have provided is accurate. You may call the CRA directly to inquire about your payment.

How do I get more information on the Canada Emergency Response Benefit (CERB)? Expand/Collapse


Current information on the benefit can be found at the Government of Canada’s website.

Do you still have a question? Please call your branch

                           - Toronto Branch:    416-392-6868
                           - Etobicoke Branch416-622-9300 

What is the Canada Emergency Student Benefit (CESB)? Expand/Collapse


The Canada Emergency Student Benefit (CESB) provides income support to post-secondary students who experience financial hardship over the summer due to COVID-19.

Business Relief FAQs

What is the EDC Business Credit Availability Program (BCAP) Guarantee? Expand/Collapse


The EDC Business Credit Availability Program (BCAP) Guarantee is an EDC-guaranteed business loan to help Canadian businesses impacted by COVID-19. Eligible applicants can access up to $6.25 million CAD in short-term liquidity to cover expenses which are critical to business continuity such as rent, payroll and other operational costs.

The EDC Program features:

  • Fixed 80% EDC guarantee for 1 year, with potential to renew for another 5 year.
  • Loan is repayable in full on the 12-month anniversary.
  • EDC guarantee fee of 1.8% on the authorized loan amount.
  • 6-month EDC Guarantee fee payment deferral.
  • For more details on the program, eligibility and application process, business members can contact their TME Savings Account Manager.

Is the EDC BCAP Guarantee only available to export-oriented businesses? Expand/Collapse


No. The EDC BCAP Guarantee will also be available to non-export, domestic businesses.

What is the eligibility criteria? Expand/Collapse


To qualify for an EDC BCAP, the member must:

Apply for a new cash flow term loan up to $6.25million CAD to finance short-term operations in response to COVID-19.

The member must NOT be an:

  • Entity whose principal activities include the manufacturing, sale, distribution of arms, armaments, ammunition and/or related products.
  • Entity that promote violence, incite hatred or discriminate on the basis of race, national or ethnic origin, color, religion, sex, age or mental or physical disability.
  • Entitity that operate any form of sexually exploitive business.
  • Entity operating rent-to-own firms, pay day loan or other similar quasi-financial institutions
  • For more details on the program, eligibility and application process, business members can contact their TME Savings Account Manager.