Vendors Electronic Funds Transfer Program
Vendors who receive more than $50,000 or more than six checks per year from the state will be contacted by The Maryland State Comptroller's Office to sign up for electronic payments using the Automated Clearing House (ACH) Network. Electronic payments assure that vendors receive payment in their bank account within two days, eliminate post office delivery delays and reduce postage costs for the State.
Detailed payment information can be found on the Comptroller's Web Site. Vendors can track the progress of their payments from processing by the state agency to transmission of the payment to the bank. Payments to Vendors enrolled in the Electronic Funds Transfer (EFT) program are deposited to the vendor's designated bank account.
Participation is easy. To register for ACH payment, the vendor completes a GAD X-10 form and follows the instructions on the Comptroller's Web Site under Agency Services/General Accounting at: http://compnet.comp.state.md.us/General_Accounting_Division/ This site also provides the link to "One Stop Vendor Payment Inquiry" to view payment detail.