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How do I set up an agency to receive electronic fund transfers?

April 26, 2017agency electronic fund transfers

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How do I set up an agency to receive electronic fund transfers?

1 Answer

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10 Posted

Several things have to be done before an agency can receive an electronic fund transfer. The agency receiving the electronic fund transfer has to have a: 1. Vendor number set up with a valid paying agency on VEND. 2. AACG record with an account type of ‘D’ (seller agency account distribution) for the paying agency entered on VEND. This is where the agency receiving the electronic fund transfer enters the account receiving the funds.