Direct Deposit
Electronic Funds Transfer (EFT)

What is Direct Deposit?

Electronic Funds Transfer (EFT), also known as Direct Deposit, is a convenient service that electronically reimburses you for claim payments. Reimbursement payments are available on the day the direct deposit is electronically transferred to your bank account.

What are the benefits of Direct Deposit?

Direct Deposit bypasses the mail and deposits payments directly into your checking or savings account. For savings account deposits, you must first verify with your bank to see if they support this feature. When you sign up for EFT, you receive a weekly Direct Deposit Activity Report (DDAR) for each deposit which shows the deposit transaction, details the claims processed and payments included in that fund transfer. It is important that you receive this report so you can reconcile the payments you have received from CIGNA. Direct Deposit can help:

• Speed up your claim reimbursement payments
• Increase efficiency and improve cash flow for your office
• Provide immediate access to your reimbursement payments

To save time and money, please be sure that DDARs are being routed to your correct address. If you work in a hospital or group setting, please be sure the DDARs are routed to you at the correct department or mail stop. You may wish to share a sample DDAR and Advice Sheet with your mail room or other departments that may come in contact with DDARs, so they can identify and know where to route them.

For more information on Direct Deposit/EFT, please follow the links below or contact your Provider Services Representative.

• 2010 Capitation Calendar
• 2010 Fee For Service Calendar
• 2010 Medicom Fee For Service Calendar
• Direct Deposit Activity Report with explanations (PDF)
• Direct Deposit Advice (PDF)
• Direct Deposit Authorization Form (PDF)