Exploring EFT Payment Options

Providers can utilize a number of EFT payment types that are available for claims reimbursement purposes.  Each payment type has unique attributes and providers have the ability to choose the payment type that works best for them and their practice.



Healthcare EFT

Standard (via ACH)

Virtual Card

Wire Transfer

Funds Availability

(as measured from the time that a plan initiates payment)

Next Day

2-3 Business days

Same Day

(funds irrevocable)

Average Cost

(based on receiving $2,500 EFT Payment)



Percentage of total payment plus a transaction fee


Enrollment/ Acceptance

One time with each health plan

Must have agreement with merchant card processing provider & POS processing system/terminal

One time with each health plan


Very low risk

Financial Institution can support additional account monitoring tools such as debit filters or blocks

Higher risk

Card numbers have information that can be used by anyone with ability to accept card payments

Very low risk

Manual Processing


Each payment must be processed manually


Reassociation with Electronic Remittance Information

Standardized inclusion of TRN Reassociation Data Segment in payment

Delivered by financial institution after service is established

Not included with payment

Manual access to each EOB through web portal

No requirement to include TRN Reassociation Data Segment with payment



NACHA - The Electronic Payments Association

NACHA is the not-for-profit organization that develops and maintains the standards for electronic funds transfers using the Automated Clearing House (ACH) Network, and authors operating rules for the implementation of the ACH standards. ACH transactions are a ubiquitous form of electronic payment that is already used by many health plans, including Medicare, to pay healthcare providers. The NACHA Operating Rules, and the transaction standards on which they are based, provide the backbone for this system (www.nacha.org).

Download Understanding the Healthcare Electronic Funds Stransfer (EFT) Standard, along with a comparison of EFT payment options, in PDF format.