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OTCnet News and Updates

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Hardware Orders

As we near the end of the Fiscal Year, the Bureau of Fiscal Service requests that agencies submit hardware orders by August 10, 2025, if placing their order with the OTCnet Deployment Team. Read the OTCnet Hardware Overview for more information about our current offerings and how to purchase them. If you have any questions or need help with your purchase, please contact the OTCnet Deployment Team at 703-377-5586 or FiscalService.OTCDeployment@citi.com.
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Update to OTCnet Foreign Deposit Processing

As a reminder, all foreign checks, except for those drawn on Canadian banks, will now be processed as collection items in OTCnet. Collection items are forwarded to the foreign banks that checks are drawn on for clearance, prior to credit being granted. Bank of America’s collection process takes approximately six to eight weeks to complete. Canadian foreign checks will continue to be processed as cash letter items. OTCnet Deposit Processing users have the option to select either “CANADA” or “OTHER” in the foreign currency code dropdown list. For any questions on this topic, please contact the OTCnet Customer Support Team at Toll free phone: 866-945-7920, DSN phone: 510-428-6824, Options 1, 3, 4, or FiscalService.OTCChannel@citi.com.
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Modernizing Payments with OTCnet

To align with Executive Order 14247 “Modernize Payments To and From America’s Bank Account,” agencies are encouraged to adopt OTCnet’s secure digital payment solutions. These payment options reduce processing time, enhance operational efficiency, and offer a seamless transition in their current OTCnet portfolio.

  • Get Started with OTCnet Electronic Check Capture

  • Consider onboarding to Check Capture with OTCnet! OTCnet Check Processing allows agencies to electronically convert domestic paper checks to digital images. Check Capture eliminates the need to travel to a bank for check deposits and streamlines deposit reporting on a single platform integrated with Treasury reporting requirements. Visit the OTCnet Check Processing webpage for more information and refer to the Onboarding Guide to learn how to get started.

  • Learn More about OTCnet Card Processing

  • Take advantage of the convenience of today’s digital world with OTCnet's Integrated Solution for Card Processing, enabling credit and debit card payments. This modernized payment solution allows agencies to consolidate reporting to a single platform and integrate it with their current OTCnet account. OTCnet Card Processing enables agencies to further streamline their over-the-counter services by expediting payments, maximizing collections, and expanding customer accessibility. Visit the OTCnet Card Processing webpage to learn more or contact the OTCnet Deployment Team at FiscalService.OTCDeployment@citi.com and 703.377.5586.

  • Streamline Transactions with OTCnet Kiosk Services

  • The OTC Kiosk Tablet and Self-Service Kiosk provide agencies with the ability to streamline over-the-counter services by minimizing long lines at the counter and maximizing collection opportunities in remote locations. The OTC Self-Service Kiosk also allows customers to process transactions independently of an agency representative. All collected payments and deposits will be synched to the existing OTCnet reporting functionality for ease of reference and agency accounting. Refer to the OTCnet Kiosk webpage to learn more.
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OTCnet Training

OTCnet’s Training Site offers User Guides, step-by-step Printable Job Aids, and training tutorials for key OTCnet user roles to help Agencies, Financial Institutions (FIs), and the Federal Reserve Bank (FRB) with a wide range of topics and user tasks. The Training Resources website offers user-friendly guidance for onboarding, updates, and current training offerings.

Training Tips: Still having trouble finding the answer to your question? The Treasury Financial Manual contains the Department of Treasury’s official policies, procedures, and instructions concerning financial management in the Federal Government. The TFX website is a one-stop shop where agencies can more easily navigate this information. Visit the TFX site to find the latest payment regulations and instructions.

Last modified 07/30/25