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What does EFT stand for in insurance?

What Is an EFT? An electronic funds transfer, or EFT, is the electronic message used by health plans to order a financial institution to electronically transfer funds to a provider's account to pay for health care services. An EFT includes information such as: Amount being paid.

What does EFT mean in healthcare?

An electronic funds transfer, or EFT, is the electronic message used by health plans to order a financial institution to electronically transfer funds to a provider's account to pay for health care services. An EFT includes information such as: Amount being paid. Name and identification of the payer and payee.

How do I change my EFT with Aetna?

If you want to change your banking information, please complete the ERA/EFT enrollment form at: www.aetna.com/provider/data/ERA_EFT_Enrollment_Form.pdf. For change requests, please fax to 860-262-9883. Please use one enrollment form per tax ID.

What is an EFT in simple terms?

An electronic funds transfer (EFT), or direct deposit, is a digital movement of money from one bank account to another. These transfers take place independently from bank employees. As a digital transaction, there is no need for paper documents.

What is an EFT in banking?

EFT Meaning: What is EFT? An EFT is an electronic transfer of money from one bank account to another, meaning there is no need for direct intervention by bank staff. EFT payments can be carried out between any two accounts, whether they're based at the same financial institution or not.

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