EFT Memorandum
Electronic Funds Transfer sends payments directly to your entity or agency’s bank account. Payments can be tracked through our
FRIS Inquiry website, Payment Information. The features/benefits are:
- No waiting period for checks to clear the bank
- No paper checks that might get lost, stolen or damaged
- Payments are traceable
- No trips to the bank to make deposits
- Payments are deposited even when you are closed for the day
- Enrollment uses a simple, one-page application
- EFT will eventually eliminate reams of paper generated daily related to payments
Enrollment — Please contact the Office of the Comptroller by visiting
illinoiscomptroller.gov or by phone at (217) 557-0930.
Internal Revenue Service W-9 Form
Bank Arrangements — Contact the bank or financial institution of your choice and discuss their electronic service capabilities. Arrangements should be made with your bank on when and how you will be notified of the deposit and addendum record. This notification may be in the form of a telephone call from the bank, a credit slip either faxed or mailed, or a computerized communication as soon as the deposit is made.
Addendum Record — The addendum record transmitted with each deposit identifies the program being paid. This is extremely important to avoid delays in identifying and accessing payments. The addendum record includes the project year, revenue code, voucher number, voucher date, amount and other pertinent information.
