Enroll in Vendor Payment Direct Deposit Program

All vendors with City contracts over $25,000 per year are required to enroll in the Vendor Payment Direct Deposit program. This also applies to human service providers. All vendors are encouraged to enroll in the program. 

Benefits of EFT Payments

• Electronic payment is safer and more secure - Paper checks can be lost in the mail, stolen, or delivered to the wrong address. 
• Receive payment faster - Why wait for a check to arrive in the mail? Payment by EFT is deposited directly into your bank account, saving days of waiting.
• Save time - Money deposited into your bank account is automatic. You save the time you used to spend at the bank, depositing the check and waiting for it to clear.
• Electronic payment records available online - Use the City's website for current payment records.

To Enroll

Enroll in Vendor EFT / Direct Deposit 

You must provide all requested information in both your Vendor Information and Bank/Financial Institution Information sections. Please ask your bank for help in answering any questions you may have about these sections.

Required Documents
To enroll for EFT payments, we must have (1) the completed application with (2) one of the following pieces of documentation, depending on the bank account you want to use.  DOF will not accept and cannot process incomplete applications and/or applications without the required documentation.

• Voided check for the account indicated on the application.  The check must have the vendor name imprinted (not written) on it;
• Encoded deposit ticket for the account indicated on the application.  The deposit ticket must have the vendor name imprinted (not written) on it;
• A letter from your financial institution verifying account ownership.  The letter must include vendor name, account number and bank routing number;
• Bank account statement for the account indicated on the application.

Mail or fax check or deposit slip to:
NYC Department of Finance
Financial Services, Electronic Funds Coordinator
66 John Street, 12th Floor
New York, NY 10038

Fax: 212-361-7058

When Will EFT Payments Begin?
We will verify all information with your bank once we receive a faxed or mailed completed application, and copy of your check or deposit slip. This can take up to ten days. If there are no problems, your next payment will immediately be deposited directly to your bank account. If there are problems during the verification process a Finance Representative may contact you for further information.

How to Keep Track of Payment Information
There are two ways to get information and keep track of invoices and EFT payments:

You will have access to the City's website for information on past and future payments by invoice number.

• Access the City's website for information on past and future payments by invoice number.
• Ask your bank's ACH Department for a copy of the EDI (Electronic Data Interchange) information after receipt of each deposit.

Contact Information
Use the Enrollment form - fill in your contact information and include a message

Email EFT Enrollment Coordinator