Paper Check Conversion
Over the Counter (PCC OTC)
ATTENTION PCC OTC USERS: PCC OTC will be decommissioned on December 31, 2012. Starting on January 1, 2013, all over the counter activity must be processed through the OTC Channel Application (OTCnet), located at www.otcnet.fms.treas.gov. All PCC OTC users are strongly encouraged to begin or continue using OTCnet now.
If your agency uses PCC OTC and has not converted to OTCnet, please contact Angela Smith at (202) 874-4080 as soon as possible. To learn more about OTCnet, please visit the OTCnet informational website at http://fms.treas.gov/otcnet.
Overview
Paper Check Conversion Over the Counter (PCC OTC) converts personal and business checks into electronic funds transfers.
The process occurs at the point of sale or in a lockbox environment. Transactions can be consumer, consumer accounts receivable, and business transactions.
What’s Next for PCC OTC?
The conversion to the Over the Counter Channel Application (OTCnet) was launched on February 5, 2011. OTCnet will provide users of TGAnet and PCC OTC a new system that combines electronic check conversion or truncation, and deposit reporting functions.
OTCnet provides you with the capability of seamlessly handling agency cash, coins, and check deposits using one Web-based application. Key dates in this conversion of PCC OTC users to OTCnet include:
- April 2011 through 2012 – Phased conversion of PCC OTC users to OTCnet
- June 2011 - Offline Check Capture became available to agencies
FMS will be in contact with individual agencies about the timing and requirements of their respective conversions to OTCnet.
For additional information about OTCnet, please visit: fms.treas.gov/otcnet.
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