The definition of ‘Green book’
The green Book is a comprehensive guide for financial institutions processing Federal government automated clearing house (ach) payments and fees. Ach is an electronic funds transfer system of the National Association of automated clearing house (nach). This payment system deals with payroll, direct Deposit, tax refunds, consumer bills, tax payments and multiple payments. Federal regulations provide guidance for the payment of goods and services by using credit and debit cards and other electronic payment instruments.
Breaking down the ‘Green book’
The green Book is intended mainly for suppression of exception or unique in the Federal government that contains Federal Agency contact information and website address, where the appropriate questions. Today the vast majority of Federal payments and collections electronically. With rare exceptions, Federal government transactions are subject to the same rules as Private industry ach payments. The ACH regulation, 31 CFR 210, provides the basis for most of the information contained in the green book. However, there are other regulations that impact Federal government ach payments.
The green book continues to get smaller and designed primarily for combating exclusion or the specific activities of the Federal government. The government no longer prints or mails paper copies of the green book, but it is available in the website of the Bureau of the fiscal service.
Automated registration is a convenient way for financial institutions using the ACH network to transmit direct Deposit enrollment information directly to Federal agencies for benefit payments. Entry ERR is non-dollar request via the form on any ach receiving financial Depository institution (RDFI) to a Federal government Agency participating in the program ERR. Enr is the enrollment method you prefer Federal agencies use. The macro-region reduces errors in the registration process and allows you to make direct payments to the Deposit to begin sooner than paper-based methods of registration.
In addition to the possibility of ERR financial institutions can also sign up for direct Deposit through direct website to go. The direct campaign was a national marketing and advertising campaign sponsored by the Treasury and the Federal reserve system, which increased the use of direct Deposit of Federal check recipients. Direct campaign has officially ended, but the financial institutions can still use the website for registration.
The Ministry of Finance, Bureau of fiscal service amended its regulations in 2017 governing the use of the ach network by Federal agencies. The new rule adopts, with some exceptions, the rules of operation of the nach.