Credit Gateway
editOn September 13, 2010,[1] the Financial Management Service started to use Credit Gateway as a deposit program for the receipt of federal agency Fedwire and Automated Clearing House credit transactions.[2][3] It is an effort to modernize the collections and cash management programs of the US Department of the Treasury and is being implemented in multiple phases over the course of two years.[1][3]
The Credit Gateway is operated by a commercial bank that has been designated as a financial agent of the government.[1][3] The bank processes FMS transactions using its own infrastructure and commercial software. The transactions settle at Federal Reserve Banks, rather than at the designated commercial bank.[1][3] The Credit Gateway processes transactions in real time to FMS reporting systems, namely the Transaction Reporting System.[1][3][2]
- ^ a b c d e Bushwood, Bill (April 19, 2010). "April 19, 2010 letter to all agencies" (PDF). Financial Management Service. Retrieved 7 November 2012.
- ^ a b "Before & After Credit Gateway Comparison" (PDF). Financial Management Service. Retrieved 7 November 2012.
- ^ a b c d e "Common Questions" (PDF). Financial Management Service. Retrieved 7 November 2012.