International Treasury Services
The Bureau of the Fiscal Service provides international payment services to federal agencies allowing payments to be made in 140 currencies in more than 200 countries.
Federal agencies use the International Treasury Services (ITS) web application, ITS.gov, to issue payments to recipients in foreign countries. ITS can support payments in either foreign currency or USD depending on the needs of the federal agency and supports both one-time and recurring payments, including vendor, benefit, payroll, or other payment types.
Using Fiscal Service's ITS application, agencies can send payments to foreign countries in any of these ways:
- As electronic transfers in either U.S. dollar or foreign currency without a corresponding U.S. financial institution
- As a foreign currency check
- Through Western Union
Free for Federal Agencies
There is no cost to federal agencies to use ITS.gov. The U.S. Treasury pays all transaction fees associated with processing international payments and collections.
Benefits of ITS
Secure web-based application for making international payments, including collections
All payments are screened for compliance with the Office of Foreign Assets Control (OFAC). OFAC administers and enforces economic and trade sanctions based on U.S. foreign policy and national security goals
Alleviates the increasing check cashing issues with recipients outside the U.S.
ITS.gov will allow for spot or advanced rate currency options
Enrollment is easy!!!
Offers the lowest costs for sending international payments
Purchases the foreign currency amount at the time of payment at the most competitive rate possible, maximizing agency cash management.
Employs the latest enhanced security technology including two factor authentication through PKI
Expedites payment settlement
Provides the ability to process international electronic payments in emerging markets
Reference and Guidance
For regulations and guidance pertaining to ITS, visit the Electronic Funds Transfer (EFT) pages.REGULATIONS & GUIDANCE