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.