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Agency Priority Goal

About the Agency Priority Goal

Did You Know?

  • Since the DCIA of 1996, Federal agencies have been required to send payments electronically.
  • In FY 2019, nearly 50% of problems with Treasury-disbursed payments were about paper checks even though checks constituted only 5% of all Treasury-disbursed payments.
  • Through July FY 2020, Fiscal Service disbursed 1.2 billion payments, totaling more than $3 trillion.
  • Despite a high EFT rate of 98%, Treasury still printed more than 38 million paper checks through July FY 2020.
  • Paper checks take days to arrive in the mail and can require added time to cash or deposit, but electronic payments arrive on time, every time on the payment date.
  • Each conversion from check to EFT creates significant savings for the US taxpayer.
  • Electronic payments are faster, cheaper and safer than paper checks.

Last modified 08/28/20