Postal Service August 19, 2008 – Federal Register Recent Federal Regulation Documents

This final rule revises Mailing Standards of the United States Postal Service, Domestic Mail Manual (DMM[supreg]), by making Automated Clearing House (ACH) debit a new method of payment for Express Mail[supreg] Corporate Account (EMCA) customers and eliminating the option to open new local trust accounts. The ACH system is a secure, private network that connects banks to one another by way of the Federal Reserve Board. This network enables electronic payments, such as ACH debits, to be handled and processed. EMCA customers will continue to have a total of three options to fund their accounts: Participate in the Centralized Account Processing System (CAPS); use a personal or business credit card; or authorize the USPS[supreg] to originate an ACH debit from a specified bank account. Existing EMCA customers that fund their account from a local trust account will still be required to maintain minimum balances. This final rule also revises the DMM by adding provisions to close an EMCA funded by ACH debit payments.