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What is a CMS Form 588?

CMS 588. Form Title. Electronic Funds Transfer (EFT) Authorization Agreement.

What is an EFT in simple terms?

An electronic funds transfer (EFT), or direct deposit, is a digital money movement from one bank account to another. These transfers take place independently from bank employees. What is Electronic Funds Transfer (EFT)? - EBANX ebanx.com resources payments-explained ebanx.com resources payments-explained

What is a CMS form?

CMS Forms. The Centers for Medicare Medicaid Services (CMS) is a Federal agency within the U.S. Department of Health and Human Services. Many CMS program related forms are available in Portable Document Format (pdf).

What is an EFT authorization form?

The Electronic Funds Transfer Authorization Form contains a form that may be used to gather information from your employees that is needed to establish an electronic funds transfer program.

What is an EFT agreement?

Electronic funds transfer (EFT) is a transfer of funds is initiated through an electronic terminal, telephone, computer (including on-line banking) or magnetic tape for the purpose of ordering, instructing, or authorizing a financial institution to debit or credit a consumers account.

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