Bureau of the Fiscal Service

1

OTCnet Printable Job Aid

Create a Deposit for Foreign Currency Cash

To create a deposit for Foreign Currency Cash, complete the following steps:

1. From the Deposit Processing tab, select Create Deposit>Foreign Currency Cash. 

2. From the Select OTC Endpoint page, select an OTC Endpoint. The Step 1 of 3: Define 

Deposit Preparation Information page displays.

3. Enter the deposit preparation information. The Step 2 of 3: Define Subtotals by Accounting 

Code or TAS page appears.

For data security, a message displays discouraging users from entering Personally 

Identifiable Information (PII) in User Defined Fields (UDFs).

If the currency conversion service is not available, “Currency conversion service is not available” 

is displayed on the page. If you receive this message you may continue preparing your deposit 

by completing the steps in section A below and clicking Next. If you do not receive the message 

indicating the service is unavailable follow the steps in section B.

A. Currency conversion service is not available:

• Enter the Deposit Total (USE Dollars) in US Equivalent dollars, Currency Code, 

Foreign Currency Amount and Transaction ID.

• (Optional) Under Agency Information: enter comments in Agency Use (Block 6), 

enter the From and To dates of the receipts processed, select the Fiscal Year, enter 

the Alternate Agency Contact, and, if applicable, enter the User Defined Field

details.

• Click Next.

 B. Currency conversion service is available:

• Select the Currency Code, enter the Foreign Currency Amount and select a 

Financial Institution.

• (Optional) Under Agency Information: enter comments in Agency Use (Block 6), 

enter the From and To dates of the receipts processed, select the Fiscal Year, enter 

the Alternate Agency Contact, and, if applicable, enter the User Defined Field 

details.

• Click Next.

Application Tip
Bureau of the Fiscal Service

2

OTCnet Printable Job Aid

When completing the Alternate Agency Contact field, include the following: 

• Name

• Email address

• Phone Number 

The entry cannot exceed 400 characters.

4. Select an Accounting Code or Treasury Account Symbol (TAS), enter the Amount, and 

click Add for each subtotal of the deposit as shown in Figure 1.

Figure 1. Step 2 of 3: Define Subtotals by Accounting Code or TAS

• If the Agency Accounting Code label is customized at the organization level, the 

custom label is displayed, instead of the default label of “Agency Accounting 

Code.”

• At least one accounting code entry is required. Additional entries are optional.

• The combined accounting code subtotal must be equal to the deposit total before 

proceeding to the next step. If it is not, re-validate your subtotal entries.

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Bureau of the Fiscal Service

3

OTCnet Printable Job Aid

Accounting codes are listed in the drop-down menu:

• If they are not identified as TAS or

• If they are identified as TAS and designated by SAM as Valid

Accounting codes are not listed in the drop-down menu if they are identified as TAS and 

are in the process of being validated by SAM.

If no accounting codes are listed, contact your Accounting Specialist or Local 

Accounting Specialist for assistance.

5. Click Next. The Step 3 of 3: Review Deposit Preparation Information page appears.

6. Verify the deposit information is correct and click Save as Draft, Save for Approval, or 

Submit.

• Click Save as Draft an Acknowledgement page appears showing the Voucher 

Number of the deposit and a message confirming that the deposit information has 

been saved with Draft status.

• Click Save for Approval an Acknowledgement page appears showing the Voucher 

Number of the deposit and a message confirming that the deposit information has 

been saved with Awaiting Approval status.

• Click Submit a Confirmation page appears showing the deposit information detail. 

Your OTCnet deposit ticket generates at that time.

The Deposit Ticket and Foreign Currency Cash—send immediately to Bank of America:

• For foreign currency cash under $5,000 USD value mail to: 

Bank of America GBN-LA 

Mail Code: CA9-924-01-11 

2706 Media Center Drive 

Los Angeles, CA 90065-1733

• For foreign currency cash over $5,000 USD value: 

Call Bank of America's banknote trading desk number (800-387-1012) for an armored 

courier pick up. 

• For foreign checks:

All foreign exchange check deposits for Clearing—send to the following mailing address:

Bank of America

Attn: Foreign Transit Items 

GA 4-004-02-02 

6000 Feldwood Rd 

College Park, GA 30349

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Bureau of the Fiscal Service

4

OTCnet Printable Job Aid

Foreign exchange check deposits for Clearing: 

• Checks drawn on foreign banks and made payable in foreign currency, and where the name 

of the Country of Deposit is listed in the dropdown within OTCnet are processed in OTCnet 

as foreign check items.

• Checks drawn on foreign banks and made payable in US Dollars are processed in OTCnet 

as foreign check items and users should select ‘Other’ for the Country of Deposit.

• These items are treated as cash letter items. Cash letter items are immediately cleared and 

granted provisional credit within two business days, following the day the financial agent 

receives the check. A separate deposit must be created for each type of foreign currency.

• All foreign exchange check deposits for Collections** should be sent to the

following address:

Bank of America 

Attn: Foreign Collections

Mail Code: TX1-160-06-18

1950 N Stemmons Fwy Ste. 6001

Dallas, TX 75207

Foreign exchange check deposits for Collections: 

• Checks drawn on foreign banks and made payable in foreign currency, and where the name 

of the Country of Deposit is not listed in the dropdown within OTCnet, is treated as collection 

items. Users should select ‘Other’ for items where the Country of Deposit is not listed. 

Collection items are forwarded to the foreign banks where the checks are drawn on for 

clearance, prior to credit being granted. This collection process takes approximately six to 

eight weeks to complete.

• Click Cancel to return to the OTCnet Home Page. No data is saved. 

• Click Previous to return to the previous page.

• Click Return Home to return to the OTCnet Home Page. 

• Click Update to remove any accounting code subtotal date from the accounting code 

subtotal summary table.

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