PROGRAM* PROGRAM DESCRIPTION FINANCIAL AGENT /

DEPOSITARY

FY 2023

Total $2,399,368

JP Morgan Chase $0

PNC $2,399,368

Total $29,378,270

JP Morgan Chase $29,378,270

Total $311,567,032

Comerica $311,567,032

Total $11,963,083

PNC $1,587,473

US Bank $10,375,610

Credit Gateway

Total $11,993,607

US Bank $11,993,607

Total $897,471

Comerica $897,471

Total $8,622,180

Citibank $8,622,180

Total $10,719,482

PNC $10,719,482

Total $165,959,270

Bank of America $165,959,270

Total $59,060

Bank of America $59,060

General Lockbox Network (GLN)

Total $24,701,423

US Bank $24,701,423

Total $85,940,292

JP Morgan Chase $51,676,495

US Bank $34,263,797

Military Meals Check Payments

Total $64,324

PNC $64,324

Total $24,672,503

Citibank $24,672,503

Military Meals Check Payments provides checks to military enlistees to pay for

meals on their way to basic training.

Foreign Currency Foreign Currency provides collection and clearing services for foreign checks

received by federal agencies.

The GLN collects and processes paper checks and other non‐tax remittance

documents received through the mail for federal agencies.

IRS Lockbox Network The IRS Lockbox Network collects and processes business and individual tax

payments and tax returns received through the mail.

OTCnet allows federal agencies to process over‐the‐counter revenue collections

and provides check capture functionality and deposit reporting.

Financial Agent and Depositary Services Compensation

Electronic Check Processing

(ECP)

Electronic Data Interchange

(EDI)

Electronic Federal Tax Payment

System (EFTPS)

EFTPS collects federal income, employment and excise taxes electronically.

AVS provides Fiscal Service an opportunity to improve the integrity of financial

transactions by increasing the probability of payments deposited to or

withdrawn from the correct bank account.

Direct Express

The Bureau of the Fiscal Service engages commercial banks to provide services for the federal government in a financial agent and depositary capacity.  The

services provided by financial agents and depositaries include the collection of over $5.5 trillion in annual revenue, the support of payment programs

government‐wide and at embassies and military bases internationally, and the collection of receivables for federal agencies.  Financial agent services support

paper checks, electronic checks, ACH, wires, credit and debit cards, stored value cards, emerging payment technologies, and financial data management.

Over‐the‐Counter Net (OTCnet)

ACH Post Payment Services ACH Post Payment Services handles disbursement information including

payment reconciliation, issue handling and claims processing; data and records

storage; and customer agency support.

ECP converts paper checks into ACH transactions or Check 21 items via a revenue

collections lockbox.

EDI provides explanation of benefit (EOB) and patient health information from a

remittance in an electronic format accompanying IHS and VHA revenue

collections.

Direct Express provides a prepaid debit card to disburse federal benefit

payments such as Social Security, Supplemental Security Income (SSI), and

Veterans benefits to recipients who lack an account at a financial institution and

are required to receive their benefits electronically.

Card Acquiring Service (CAS)

Account Verification Service

(AVS)

Centralized Receivables Service

(CRS)

CRS provides a service to federal agencies to manage and collect current, non‐tax

receivables.

CAS allows federal agencies to accept credit, debit, and other payment card

transactions that originate at the point of sale or through Pay.gov via the

telephone, the internet, or a lockbox.

Credit Gateway settles ACH credit and Fedwire revenue collections transactions.

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Seized Currency Collection

Network (SCCN) Total $1,806,555

Bank of America $1,806,555

Total $272,323,169

JP Morgan Chase $272,323,169

Total $193,786,621

Citibank $193,786,621

Total $1,447,017

PNC $1,447,017

Total $1,617,090

Multiple banks $1,617,090

Total $12,122

MetaBank $12,122

Flagstar Bank $0

http://home.treasury.gov/about/offices/domestic‐finance/fiscal‐service

TGA Depositaries Network The TGA Network services provided by designated depositaries involve the

deposit of public funds received by federal agencies.    

The Passport Lockbox collects and processes passport fees and related

documents for the State Department.

* The Department of the Treasury designates financial agents to provide services for several programs, including those established under the Coronavirus Aid, Relief, and

Economic Security Act (CARES Act).  Financial agents designated by the Department of the Treasury pursuant to the CARES Act are compensated using the same appropriation

the Bureau of the Fiscal Service uses to compensate its financial agents.  Compensation information on financial agents designated by the Department of the Treasury, along

with program descriptions, can be found at

US Debit Card (USDC) USDC provides a prepaid debit card for federal agencies to disburse a variety of

federal payments electronically, including Economic Impact Payments (EIP).

Stored Value Card (SVC) SVC is an electronic cash management solution, offering both closed‐loop and

open‐loop debit card network access, used by the Department of Defense and its

affiliates in deployed, contingency, and training environments.

Specialty Lockbox | Citizenship

and Immigration Services (CIS)

The CIS Lockbox collects and processes various immigration and visa fees and

related documents for Citizenship and Immigration Services.

Specialty Lockbox | State

(Passport)

Seized Currency Collection Network (SCCN) services allow Federal law

enforcement agencies to deposit funds seized by such agencies.

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