TN 12 (05-00)

GN 02402.067 Electronic Transfer Account (ETA)


  • An ETA is a low-cost account designed by the Department of the Treasury (DT) in response to the Debt Collection Improvement Act of 1996 requirement that all Federal payments must be made by EFT after January 1, 1999.

  • Only participating Federally insured FIs can offer ETAs.

  • FIs that choose to participate in the ETA program enter into an ETA Financial Agency Agreement with DT.

Questions regarding ETA accounts that cannot be answered by the information provided here should be directed to DT's Voice Response/Call Center at 1-888-382-3311.


Any individual who receives a Federal benefit, wage, salary, or retirement payment (including title II or title XVI benefits) is eligible to open an ETA regardless of whether he or she has an existing account at an FI.

The ETA will have the following attributes. The ETA shall:

  • have a maximum price of $3.00 per month.

  • allow the individual to make at least 4 cash withdrawals and 4 balance inquiries per month at no cost beyond the monthly price. These transactions may be made through any combination of proprietary ATM transactions and/or over-the-counter transactions.

  • provide the same consumer protections available to other account holders at the FI.

  • allow access to the FI's online point-of-sale (OPIS) network, if any.

  • require no minimum balance, except as required by Federal or State law; e.g. some credit unions require a minimum balance.

  • at the option of the FI, be either an interest-bearing or non interest-bearing account.

  • provide a monthly statement.

To Link to this section - Use this URL:
GN 02402.067 - Electronic Transfer Account (ETA) - 08/16/2005
Batch run: 01/27/2009