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Electronic Transfer AccountThe Low-cost Way to Receive Federal Benefits |
The benefits of "electronic" banking--and Direct Deposit in particular--include convenience, immediate access to deposits and personal safety. You no longer need to make a trip to the bank or grocery store to cash your check, wait for a check to clear, or carry large amounts of cash. To encourage Federal check recipients to consider an account at a financial institution and use Direct Deposit, the Department of the Treasury recently introduced an easy and affordable option-the Electronic Transfer Account (ETA). The new ETA is available through participating Federally insured financial institutions, including banks, savings and loans, and credit unions. The account, which provides the full range of consumer protections, is available to any one who receives a Federal benefit, wage, salary or retirement payment. Features of an ETA include-
For more information about the ETA or to locate an ETA provider near
you, visit the Department of the Treasury, ETA website at http://www.eta-find.gov/ or contact
the ETA call center at 1-888-382-3311. |
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Last reviewed or modified Thursday Jun 12, 2008 |