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As the “Banker of West Virginia,” State Treasurer John Perdue oversees the majority of the Mountain State’s cash management – an integral part of the Treasurer’s office.  Since 1997, John Perdue has successfully transformed West Virginia’s cash management operation into a state-of-the-art, efficient and secure banking system.

Recently, the Cash Management division upgraded the State’s system for deposits.  Now, most checks that are received for deposit in the Treasurer’s Office will be converted to electronic debits from the consumers' bank accounts. The Treasurer’s Office will use an electronic image to capture those consumer payments.  This upgrade will increase interest earnings on state deposits by getting funds deposited into bank accounts faster.

Treasurer Perdue oversees more than $13 billion on an annual basis in Cash Management area. The Treasurer also collects, disburses and manages state and local government funds, which allows the state and municipalities to operate.  Cash Management provides key online services, such as the Internet Participant Access System (iPAS) and Treasury Online Payment Systems (TOPS), which allow the state and localities to conduct business in real time in a safe and secure way.

IMPORTANT NOTICE FOR STATE AGENCIES

Beginning in March 2009, consumer checks that are received for deposit in the Treasurer’s Office will be converted to electronic debits from the consumers' bank accounts. The paper checks will be imaged and then destroyed. Checks that are larger than six inches wide and have the check number at the beginning of the MICR line are considered to be business checks and will not be converted. Those checks will be presented as images.

It is the responsibility of each agency that accepts checks from consumers to post a notice that their checks may be converted. This language may be posted at a window or placed on an invoice. Each consumer should be notified at least once.

Following is an example of the notice that is required:

“When you provide a check as payment, you authorize us either to use information from your check to make a one-time electronic fund transfer from your account or to process the payment as an image transaction. For inquiries, please call 1-866-243-9010.

When we use information from your check to make an electronic fund transfer, funds may be withdrawn from your account as soon as the same day you make your payment, and you will not receive your check back from your financial institution.“

If you have any questions concerning this process please contact Mike.Conley@wvsto.com.

Thank you for your continued support as we go through this transition.