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 Online

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 either a check or  deposit slip for the bank account you want to use:

• Deposits to a checking account must include a blank check with the word "VOID" written across it.
• Deposits to a savings account must include a pre-printed deposit slip for the account.
• You can also ask your bank's Automated Clearing House Department for a copy of the EDI (Electronic Data Interchange) format after receipt of each deposit.

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: 212-361-7063

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