EFT Electronic Funds Transfer
The USACE Finance Center has implemented electronic fund transfer
utilizing FEDLINE through the Department of Treasury. This process was a
major undertaking and is a milestone for the USACE Finance and
Accounting Community. In accordance with federal mandate, all federal
payments will be made by electronic transfer by early calendar year 99.
For the initial EFT transactions, we used the CEFMS travel functionality
wherein a travel voucher payment was deposited directly into the traveler's
personal bank account. All types of payments will be made by EFT as
we continue to receive and load the appropriate "routing" information for
employees, contracts, and other vendors.
US ARMY CORPS OF ENGINEERS
ELECTRONIC PAYMENTS/DIRECT DEPOSIT
1. The Debt Collection Improvement Act of 1996 provided that Federal
payments shall be made by electronic funds transfer (EFT). The Corps
issues electronic corporate payments though the Automated Clearing
House (ACH) network using the Corporate Trade Exchange (CTX) payment
format. Instead of receiving checks, you will have payments directly
deposited into your checking or savings account.
2. The benefits of receiving payments electronically are no lost or stolen
checks, no deposit delays, prompt availability of funds, fully traceable
payments, and decrease in fraud.
3. EFT/Direct Deposit payments are available for vendors who have active
contracts with the following locations and Corps travelers working for
these sites should also sign up for EFT:
Alaska District, Albuquerque District, Buffalo District, Charleston District,
Chicago District, Cold Regions Research & Engineering Laboratory,
Construction Engineering Research Laboratory, Detroit District, Fort Worth
District, Galveston District, Great Lakes and Ohio River Division, Great
Lakes Regional Headquarters, Huntington District, Huntsville U.S. Army
Engineering & Support Center, Jacksonville District, Kansas City District,
Little Rock District, Louisville District, Memphis District, Miss