As the Financial Official, you are responsible for maintaining the valid banking information for this organization. ASAP.gov The web enabled ASAP application. allows up to four bank accounts for the ACH delivery method (next day or future payments up to 32 days) and four bank accounts for Fedwire FRB central application for same day electronic funds transfer. delivery method (same day payments). If you choose ACH/Fedwire as the delivery method for a bank account, it will be counted as two accounts.

Bank accounts entered as ACH delivery method have a mandatory waiting period of seven (7) business days before the account becomes available for use. This waiting period also applies to existing ACH and ACH/Fedwire accounts which are changed. Bank accounts entered as Fedwire delivery method have a mandatory waiting period of three (3) business days before the account becomes available for use.

Please note that you may not delete a bank account if it is the only one defined for your organization. Before the last remaining bank account can be deleted, a new one must be defined and available for use.

To define a bank account you will need the following information:

• ABA/RTN

• Bank Account Number The bank account number is the Recipient Organization's unique number for the checking or savings account into which the payments are to be deposited.

• Bank Account Type An account type must be one of the following: Regular, Control, Global, Global Control, or 1031 (ASAP LOC).

• Bank Account Title

• Payment Delivery Method (ACH, Fedwire or both)

• Further Credit ABA, if Fedwire is used

• Financial Institution Official First and Last Name

• Financial Institution Official's Telephone number

You must associate each bank account with at least one Federal agency Encompasses Federal Program Agencies including programs administration and funding. They are organizations that establish funds into ASAP accounts. from which you draw funds through ASAP.gov.

As the Financial Official, you are also responsible for verifying the accuracy of the bank account information entered. If your payments are misdirected based on the banking information you entered, the grantor Federal agency and the Department of the Treasury are not responsible for any liability.

HOW DO I POINTERS

How do I access the new Recipient The organization that is entitled to the funds. Organization to add banking information? I received an email notification System generated message containing information regarding a specific action. , but don’t see the organization in ASAP.gov.

An email notification is generated as soon as the organization’s Point of Contact defines you in the application. However, if the Head of Organization or Re-delegated Head of Organization has not yet approved you as the Financial Official, this organization will not be available to you.

How do I find the status The current status of the authorization. of a new organization’s enrollment?

Select “Recipient Enrollment Inquiry” from the Inquiries drop down menu. This will identify the status of each step in the enrollment process and whether this organization is active Indicates that a Requestor or Recipient is available to take action within the ASAP.gov system. or still pending.

How do I define “for further credit” to a Fedwire account?

“For further credit” is only available for ACH accounts.

How do I add more bank accounts when I have 4 ACH/Fedwire accounts already defined? I thought I could define up to 8 accounts.

Since an ACH/Fedwire account is counted as two accounts, you cannot add another account when you have 4 ACH/Fedwire accounts already defined.

How do I change a delivery method, Bank Account Number, or other critical data for an Active organization?

As long as you have another active bank account, this can be done through selecting “Modify/Delete Banking Information” from the Enrollments menu. If you don’t have another account, you will need to create one and wait up to 7 days if it is ACH before modifying the original account.

What happens to pending payments, payment templates, and payment schedules when bank account information on the payment, schedule, or template Way to store a subset of accounts selected, ability to specify remittance codes for ACH; can store default bank to which the payment will be delivered. is modified?

Any pending payment to a bank account which is modified or any payment template or payment schedule Action taken by a payment requestor to provide instructions that will initiate payment requests for the same amount with multiple settlement dates. containing a bank account which is modified by the financial official via the ASAP online screens is cancelled or deleted.

PROCEDURES TO ADD BANKING INFORMATION

PROCEDURES TO MODIFY BANKING INFORMATION

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