|Statement||prepared by Department of the Treasury, Financial Management Service, Product Implementation Branch, ACH Conversion Section|
|The Physical Object|
|Pagination||43 p. :|
|Number of Pages||43|
Product Implementation Branch. ACH Conversion Section. , Federal agency procedures for vendor and miscellaneous payments (CCD) by direct deposit electronic funds transfer (DD/EFT) [microform] / prepared by Financial Management Service, Product Implementation Branch, ACH Conversion Section The Section [Washington, D.C.] Wikipedia Citation. Create Payment Groups (P). Review the Electronic Funds Transfer/EDI processing options and set according to your needs. Set the processing option for an override effective date or bank type code to override the default supplier bank account (bank code V). Work With Payment Groups (P). Check processing options for Print Options. C. Allotments to Non-Individuals. Allotments shall be sent by Direct Deposit/Electronic Fund Transfer (DD/EFT). ALLOTMENTS TO DEPENDENTS OR RELATIVES Authorized Allottee. Officers and enlisted members of the Military Services may authorize allotments of pay to their dependents, relatives, or divorced spouse. Updated: J ELECTRONIC FUNDS TRANSFER (EFT). PROCEDURE MANUAL. Pursuant to UCF Policy Effective Date: 7/1/
Direct Deposit Direct deposit is an electronic funds transfer made through an ACH credit entry to a checking or savings account. Discretionary Allotment A discretionary allotment is an amount permitted by the employing federal agency to be deducted from a federal government employee’s net salary amount and paid to a recipient. The amount of. Direct Deposit (Electronic Funds Transfer) is the electronic transfer of your paycheck, benefit check or other payment into your checking, share draft or savings account, or other low-cost account offered by your bank. 3(b)(1) Definition. 1. Fund transfers covered. The term “electronic fund transfer” includes: i. A deposit made at an ATM or other electronic terminal (including a deposit in cash or by check) provided a specific agreement exists between the financial institution and the consumer for EFTs to or from the account to which the deposit is made. The Payroll Savings Plan feature allows individual primary account-holders to make recurring purchases of electronic Series EE and Series I Savings Bonds, funded by a payroll allotment/direct deposit from their employer. Note: You must first set up a Payroll Savings Plan in your TreasuryDirect account.
Electronic Check Conversion: Electronic check conversion is a process in which your check is used as a source of information-for the check number, your account number, and the number that identifies your financial institution. The information is then used to make a one-time electronic payment from your account-an electronic fund transfer. An allotment is a way to withhold or distribute money from a service member’s military paycheck. There are two types of allotments, discretionary and non-discretionary: Discretionary allotments can be used for expenses such as rent, car payments, loan payments, and voluntary payments to dependents. 1. Fund transfers covered. The term “electronic fund transfer” includes: i. A deposit made at an ATM or other electronic terminal (including a deposit in cash or by check) provided a specific agreement exists between the financial institution and the consumer for EFTs to or from the account to which the deposit is made. Financial Allotments. Financial Allotments are voluntary deductions to financial institutions with direct deposit. This does not include such items as charity, thrift savings, garnishments, union, or other organizational dues. For these changes, see your personnel office.