Paying by cheque Cheque use is steadily declining as electronic alternatives gain in popularity, but Canadians still use close to a billion cheques each year. Guide Paying by pre-authorized debit Pre-authorized debits (PADs) are a convenient way to pay bills and make other payments automatically. Instead of sending a payment, a company withdraws funds from your bank account. Guide Direct deposit Direct deposit is a fast, secure and convenient way to receive payments, an example of this is having your pay cheque deposited directly into your bank account. Guide Wire payment One of the safest, most efficient ways to move money from your account into someone else's is to send a wire payment through your financial institution. Guide
