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 Code of Federal Regulations (Last Updated: October 10, 2024)
 Title 31 - Money and Finance: Treasury
 Subtitle B - Regulations Relating to Money and Finance
 Chapter II - Fiscal Service, Department of the Treasury
 SubChapter A - Bureau of the Fiscal Service
 Part 208 - Management of Federal Agency Disbursements

  Appendix B to Part 208 - Model Disclosure for Use After ETA SM Becomes Available

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  • The Debt Collection Improvement Act of 1996 requires that most Federal payments be made by electronic funds transfer after January 2, 1999.

    If you are currently receiving your Federal payment by check or you have just become eligible to begin receiving a Federal payment, you have several choices:

    (1) Receive your payment by Direct Deposit through the financial institution of your choice.

    The Government makes payments electronically through a program called Direct Deposit. Direct Deposit is a safe, convenient, and reliable way to receive your Federal payment through a financial institution. (A financial institution can be a bank, credit union, savings bank, or thrift.) Many financial institutions offer basic, low-cost accounts in addition to full-service checking or savings accounts.

    (2) Receive your payment through a basic, low-cost account called an ETA SM.

    If you receive a Federal benefit, wage, salary, or retirement payment, you are eligible to open an ETA SM. This account is available for a low monthly fee at many financial institutions. Like Direct Deposit, the ETA SM (which stands for electronic transfer account) is a safe, convenient, and reliable way to receive your Federal payment through a financial institution. Please call the customer service number listed below to find out which financial institutions in your area offer the ETA SM.

    (3) Continue to receive a check.

    If receiving your payment electronically would cause you a hardship because you have a physical or mental disability, or because of a geographic, language, or literacy barrier, you may receive your payment by check. In addition, if receiving your payment electronically would cause you a financial hardship because it would cost you more than receiving your payment by check, you may receive your payment by check.

    Please call [agency name] at [agency customer service number] if you would like more information on Direct Deposit, the ETA SM, or hardship waivers.