Treasury General Account
IMPORTANT NOTICE: Temporary Adjustment in Public Funds Deposit Time Frames
The Treasury General Account (TGA) program provides services that accept cash and check deposits, including foreign items, from federal agencies:
- The TGA Network
Banks and credit unions that the Bureau of the Fiscal Service has accepted into the TGA network take in over-the-counter cash and check deposits from federal agencies.
The network includes banks and credit unions both within and outside the United States, so the network serves agency field offices in many locations.
- SCCN (Seized Currency Collection Network)
Banks and credit unions in the SCCN specialize in accepting deposits of funds that law enforcement agencies have seized.
The Seized Currency Network (SCCN) was established by Treasury to provide a method for law enforcement agencies to deposit funds that they receive from seizures.
The program is maintained by 3 separate entities- Treasury, designated TGA bank, and the third-party cash handling company. When funds are seized by law enforcement, they reach out to the third-party vendor to schedule appointments to have those funds counted and wired to the TGA bank.
The third-party vendor was brought into the SCCN program because they allowed law enforcement agents to enter into their money vaults with their firearms to witness the money count. Once those funds have been counted and verified, the funds are deposited into Treasury’s account.
- MITGA (Mail-in TGA)
Although most TGA deposits must be over-the-counter, MITGA is an exception because it receives deposits by mail. MITGA is an over the counter TGA program administered by a commercial bank. This program allows Federal agencies to mail TGA deposits when access to a local financial institution is unavailable.
TGA also has special procedures for emergency situations that cause a designated financial institution to be closed.
Federal Agencies: Getting Started
NOTICE TO FINANCIAL INSTITUTIONS:
In the coming months, the Bureau of the Fiscal Service (Fiscal Service) may begin a Financial Agent Selection Process (FASP) to designate a financial agent to provide foreign check depository services on behalf of federal agencies.
In this discovery stage, the Fiscal Service seeks to determine interest from financial institutions to provide foreign check depositary services as a financial agent of the Fiscal Service. If your Financial Institution has any interest in providing such services, please complete this questionnaire.
Note: Please provide responses by COB Wednesday, October 12, 2022. We look forward to hearing from you, and if you have any questions, please contact us at firstname.lastname@example.org
Benefits of TGA
Easy to set up
Requires minimal effort to implement
Uses OTCnet to capture checks and process deposits
Provides a local depositary for collections that field offices receive
For questions or concerns contact the Federal Reserve Bank of St. Louis.
OTC Support Team866-771-1842
Over the Counter Revenue Collection Divisiontgaops@fiscal.treasury.gov