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For Immediate Release June 26, 2012
Contact: Ethel Truly, Communications Coordinator 601-965-4300, ext.102
(Jackson, Miss.) June 26, 2012 — Michael R. Sullivan, Executive Director for the USDA Farm Service Agency (FSA) in Mississippi, announced today that FSA is moving toward an electronic method for processing check payments from producers.
With the electronic method, when a producer submits a paper check payment in person or through the mail, the check will be converted into an Electronic Funds Transfer (EFT) through Over the Counter Channel (OTCnet), a web-based application.
According to Sullivan, FSA will implement OTCnet in a select number of counties in the state in 2012, but all Mississippi counties will be transitioned into OTCnet by the end of 2013.
"It is important for producers to have sufficient funds in their bank accounts because the electronic transfer of funds could occur in 24 hours or less," said Sullivan.
FSA will hold each paper check for up to 14 calendar days to ensure that the transaction was successfully processed, and then the check will be shredded. The producer will not receive the paper check back from FSA.
"The new electronic check processing system will reduce the possibility of lost or misplaced checks, speed up the check clearing process and reduce the potential for human error," said Sullivan. "In other words, the new system will benefit both the Agency and producers," he said.
The Mississippi counties in which FSA will implement OTCnet in 2012 are Alcorn, Carroll, Chickasaw, Claiborne, Coahoma, Covington, DeSoto, Franklin, George, Holmes, Humphreys, Issaquena, Jackson, Jefferson, Leake, Leflore, Lincoln, Marshall, Monroe, Montgomery, Noxubee, Panola, Quitman, Rankin, Scott, Sharkey, Sunflower, Tallahatchie, Tate, Tishomingo, Tunica, Walthall, Washington, Yazoo.
For more information regarding electronic check processing in the listed counties, contact your administrative FSA office.
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