Revenue Collections

Collecting revenue is one of the core activities of the Fiscal Service in its role as the government’s money manager. On behalf of hundreds of federal agency offices and programs, Fiscal Service annually processes more than 500 million transactions collecting over $4 trillion in revenue. The process of collecting revenue requires:

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  • Providing reports to agencies
  • Centralizing funds in the Treasury General Account (the government’s checking account)
  • Ensuring that banks holding public monies have provided sufficient collateral
  • Compensating banks that help run collections programs

Revenue Collection Management provides multiple options, referred to as collection channels, to receive collection payments. Some of these methods of payment include cash, check, credit and debit cards, digital wallets, Automated Clearing House (ACH), and Fedwire settlements.

General Collections Information

Fiscal Service provides guidance and programs for federal agencies to collect money by using a network of Federal Reserve Banks (FRBs) and other designated financial institutions. This includes conditions governing how agencies utilize these programs and the appropriate depositories available as designated by Fiscal Service. Most of these services are provided by Fiscal Service at no cost to the agency.

Cash and Check Deposits

Cash and Check can be used as an alternative to electronic deposits for Collections. Guidance includes instructions on how to deposit both domestic and foreign checks and cash. Included are the requirements for using depositories to hold public money, the Lockbox Network (LBN), and using Ca$h-Link to concentrate funds and accounting details for deposits.

Electronic Deposits

The general public, government entities, businesses, and institutions can pay and collect money electronically without paper checks or cash. There are several mechanisms that can be used, including ACH credit, ACH debit, Fedwire settlements, credit and debit cards, and Digital Wallets.

Federal Reserve Bank Procedures

This section provides Federal Reserve Banks with requirements to secure public money on deposit and non-public personal information. Additionally, procedures to follow for failed depositaries are included.

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Revenue Collections