About the Agency Priority Goal

Did You Know?

• Since the DCIA of 1996, federal agencies have been required to send payments electronically.
• Historically, check recipients are 16 times more likely to have an issue with a Treasury disbursed check, e.g., payee claim of non-receipt, forgery, theft, returned for bad address, etc., compared to an electronically disbursed payment.
• Fiscal Service disbursed over 975 million payments in first three quarters of FY2024.
• Despite a high Electronic Funds Transfer (EFT) rate of 96.7%, Treasury still printed more than 32 million paper checks in first three quarters of FY2024.
• 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 and safer than paper checks.