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<p class="MsoNormal"><b><span style="font-size:23.0pt;font-family:"Arial",sans-serif;color:#003C61">Discontinuing Received ACH at U.S. Bank<o:p></o:p></span></b></p>
<p class="MsoNormal"><span style="font-size:12.0pt;font-family:"Georgia",serif">As Treasury’s Electronic Funds Transfer (EFT) Business Systems Renewal (BSR) project draws to a close, one of the final milestones is discontinuing received ACH services at U.S.
Bank. <b>Effective July 1, 2024, received ACH transactions directed to U.S. Bank will be returned to the payer.</b><i> Note that this change will not impact ACH transactions processed via U.S. Bank’s E-Payment service.</i><b><o:p></o:p></b></span></p>
<p class="MsoNormal"><span style="font-size:12.0pt;font-family:"Georgia",serif"><o:p> </o:p></span></p>
<p class="MsoNormal"><span style="font-size:12.0pt;font-family:"Georgia",serif">It has been at least a year or more since agencies and universities completed their transitions to KeyBank. Each agency/university was provided updated payment instructions to share
with its customers and business partners to direct received ACH transactions to KeyBank.<o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-size:12.0pt;font-family:"Georgia",serif"><o:p> </o:p></span></p>
<p class="MsoNormal"><span style="font-size:12.0pt;font-family:"Georgia",serif">While Treasury originally communicated that received ACH services at U.S. Bank would be discontinued in 2023, Treasury extended the timeline to provide agencies/universities additional
time to communicate the change to their payers. With less than 1% of all received ACH transactions currently being directed to U.S. Bank, Treasury has determined that now is the right time to move forward with discontinuing received ACH services at U.S. Bank.
<o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-size:12.0pt;font-family:"Georgia",serif"><o:p> </o:p></span></p>
<p class="MsoNormal"><b><span style="font-size:16.0pt;font-family:"Arial",sans-serif;color:#003C61">How to Prepare<o:p></o:p></span></b></p>
<p class="MsoNormal"><span style="font-size:12.0pt;font-family:"Georgia",serif">Received ACH transactions directed to U.S. Bank are identified on Treasury account statements as “Incoming ACH” with a “1” in the column titled “Check/Advice Number Item Count.”
If you see such transactions on your organization’s statements, you need to provide the payer with your KeyBank ACH payment instructions. Customer Solutions will also be reaching out to agencies/universities with a list of accounts that have received ACH transactions
at U.S. Bank in the past three months.<o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-size:12.0pt;font-family:"Georgia",serif"><o:p> </o:p></span></p>
<p class="MsoNormal"><span style="font-size:12.0pt;font-family:"Georgia",serif">If you have any questions or need assistance with this change, contact Customer Solutions at
<a href="mailto:customer.solutions@ost.state.or.us">customer.solutions@ost.state.or.us</a>.<o:p></o:p></span></p>
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<p class="MsoNormal"><span style="font-size:9.0pt;font-family:"Arial",sans-serif;color:#FFCD4C">867 Hawthorne Ave SE<br>
Salem, OR 97301-5241<br>
<br>
<a href="http://omls.oregon.gov/mailman/listinfo/treasury-news"><span style="color:#FFCD4C">Manage Your Subscription or Unsubscribe</span></a><o:p></o:p></span></p>
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<p class="MsoNormal"><span style="font-size:9.0pt;font-family:"Arial",sans-serif;color:#FFCD4C">503.378.4000<o:p></o:p></span></p>
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<p class="MsoNormal"><span style="font-size:9.0pt;font-family:"Arial",sans-serif;color:#FFCD4C"><a href="http://www.oregon.gov/treasury"><span style="color:#FFCD4C;text-decoration:none">oregon.gov/treasury</span></a><o:p></o:p></span></p>
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<p class="MsoNormal"><span style="font-family:"Georgia",serif"><o:p> </o:p></span></p>
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