Electronic funds transfer (EFT) allows automatic deposit of claims payment into a bank account specified by the provider. When EFT is coupled with electronic remittance advice (ERA), the advantages include quicker receipt of funds and notices, eliminated trips to the bank, and the time savings of a manual process. Electronically deposited funds are available in your account the day after Medicare transmits an EFT to the bank. Paper checks must first be mailed, manually processed in your office, deposited, and then cleared by the bank. This means the EFT will usually be available to you one week sooner than paper funds.
Complete the Electronic Funds Transfer (EFT) Authorization Agreement (CMS-588 [05/10]) form and start realizing the benefits of receiving EFT.
For EFT enrollment, National Government Services must receive the following:
Please Note: Be sure to include the contact’s e-mail address on the EFT form for future correspondence.
Mail EFT forms to:
National Government Services, Inc.
Mail and Distribution Area – DMAC 588 Form
P.O. Box 6036
Indianapolis, Indiana 46206-6036
An updated EFT form is required in the following situations:
To update EFT information, complete the CMS-588 form and follow the instructions provided above.
Questions related to EFT enrollment or setup status should be directed to the Provider Contact Center at 866-590-6727.