Elimination of Cash and Check Deposits Into Local Trust Accounts for Express Mail Corporate Accounts

Resumo

The Postal Service proposes to revise its Mailing Standards of the United States Postal Service, Domestic Mail Manual (DMM[supreg]) by providing Automated Clearing House (ACH) debit as a new method of payment for Express Mail Corporate Account (EMCA) customers. The ACH system is a secure, private network that connects banks to one another by way of the Federal Reserve Board. This network enables electronic payments, such as debit card purchases, to be handled and processed. This proposed rule would also eliminate cash and check deposits made into local trust accounts. EMCA customers would still have three options to fund their accounts: Participate in the Centralized Account Processing System (CAPS), use a personal or business credit or debit card, or authorize the USPS to originate an ACH debit from a specified bank account.