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RDS Program Components

Additional Program Tasks

Quick Access Reports (QAR)

Supplemental Information

Step 10: Review Electronic Funds Transfer (EFT) Information

User Roles:

AM

AR

D

Program Components:

Reconciliation

Overview

This section provides an overview of the following topics related to Step 10: Review Electronic Funds Transfer (EFT) Information:

Introduction to Step 10: Review Electronic Funds Transfer (EFT) Information

The purpose of Step 10: Review Electronic Funds Transfer (EFT) Information is to obtain final confirmation of the EFT Information associated with the application. Before the final Reconciliation payment is requested, Plan Sponsors must review the current EFT Information listed in the application and compare it to their records. After Reconciliation is initiated in Step 1, EFT Information can only be updated in Reconciliation Step 10, not through the Application Submission Process.

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Timing for Step 10: Review Electronic Funds Transfer (EFT) Information

Step 10 cannot be started until Steps 1 through 9 have been completed. Step 10 must be marked "Complete" on the Reconciliation Checklist page to proceed to the remaining steps.

Note: It can take up to six days for CMS' RDS Center to validate EFT Information confirmed in Step 10. The Authorized Representative may proceed with Step 12 during this validation process. If changes are made to the EFT Information, the validation process is not initiated until Step 11 is marked "Complete." If the EFT Information does not require an update, the validation process is initiated after the completion of Step 10.

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User Role Responsibilities for Step 10: Review Electronic Funds Transfer (EFT) Information

Step 10: Review Electronic Funds Transfer (EFT) Information can only be completed by the Account Manager, the Authorized Representative, or Designee with both the Complete Electronic Funds Transfer Information and the Request Payment Privileges.

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Communication for Step 10: Review Electronic Funds Transfer (EFT) Information

If no changes are made to EFT Information and Step 10 is complete, Step 11 is automatically marked "Complete" on the Reconciliation Checklist page and CMS' RDS Center sends the Authorized Representative an email alerting them to complete Step 12.

If a change is made to the EFT Information and Step 10 is complete, CMS' RDS Center sends the Authorized Representative an email alerting them to complete Step 11, to confirm the changes to EFT Information and to complete Step 12.

If the Authorized Representative rejects the EFT Information in Step 11, an email is sent to the Account Manager and Designee with the Complete EFT Information privilege to inform them of the rejection and direct them to return to Step 10 to make the necessary changes. Step 10 is marked "Incomplete" until the user completes the step again.

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Reviewing and Editing EFT Information

The Step 10: Review Electronic Funds Transfer (EFT) Information page displays the EFT Information that was entered for the application. If any of the fields need to be updated, select "EFT Information Edit" to change the EFT Information for this application. After the information displayed is correct, this step can be completed.

Account Information

  • Bank Name
  • Account Type
  • Company Name Associated with the Account
  • Account Number
    • The Account Number is located at the bottom of a check (do not use an Account Number from a deposit slip). Include any leading zeroes.

Note: The order of the Account Number and the Bank Routing Number may not be exactly the same as the sample image shown here.

Location of the Account Number as printed on a check

Location of the Account Number as printed on a check

  • Bank Routing Number
    • The Bank Routing Number is located at the bottom of a check (do not use an Account Number from a deposit slip). The Bank Routing Number is always 9 digits.

Note: The order of the Account Number and the Bank Routing Number may not be exactly the same as the sample image shown here.

Location of the ABA or Bank Routing Number as printed on a check

Location of the ABA or Bank Routing Number as printed on a check

Bank Contact Information

  • First Name and Last Name
  • Phone Number
  • Fax Number
  • Email Address

Bank Address

  • Street
  • City
  • State
  • Zip

Banking Pre-note

A banking pre-note, or preauthorization, is a zero dollar transaction created and sent by CMS' RDS Center, to verify that EFT Information has been set up correctly.

If there has been no banking activity within the last 90 days, a pre-note may be sent to verify banking information prior to the Automated Clearing House (ACH) payment.

EFT Failure

If CMS' RDS Center's verification of the EFT Information fails, an email with instructions on how to proceed is sent to the Account Manager, Authorized Representative, and Designee with the Complete EFT Information privilege.

If there is an EFT failure, Steps 10 and 11 will be set to "Incomplete" and the status of Step 10 is set to "Error-Needs Attention." An email is sent to the Authorized Representative when EFT fails. An EFT failure does not affect the status of Step 12 if it is complete.

The Application Status remains "Reconciliation Cost Reporting Closed."

Note: After Reconciliation is initiated in Step 1, EFT Information can only be updated in Reconciliation Step 10, not through the Application Submission Process.

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What Happens After Step 10: Review Electronic Funds Transfer (EFT) Is Complete

After Step 10 is complete, the status of Step 10: Review Electronic Funds Transfer (EFT) Information changes to "Complete" and the "Last Updated Date" and "Last Updated By" fields are updated accordingly. Step 10 is marked with a green check mark to indicate the step is complete and Step 11: Approve Electronic Funds Transfer Information is marked with a blue arrow to indicate it is the next step. The status of the application remains "Reconciliation Cost Reporting Closed."

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Step-by-Step Instructions

This section provides step-by-step instructions to complete Step 10: Review Electronic Funds Transfer (EFT) Information.

To access the RDS Secure Website, and navigate to the Reconciliation Checklist page, refer to instructions to access the Reconciliation Checklist.

On the Reconciliation Checklist page:

  1. Select Step 10: Review Electronic Funds Transfer (EFT) Information.

     Select [Review Electronic Funds Transfer (EFT) Information]

On the Step 10: Review Electronic Funds Transfer (EFT) Information page:

  1. Select EFT Information Edit to update the Account Information, Bank Contact Information, or Bank Address.

     Select [EFT Information Edit]

On the Electronic Funds Transfer (EFT) - Edit page:

  1. Update the EFT Information.
  2. Select Continue to return to the Step 10: Review Electronic Funds Transfer (EFT) Information page or select Cancel to return to the Step 10: Review Electronic Funds Transfer (EFT) Information page without completing this step.

     Select [Continue]

On the Step 10: Review Electronic Funds Transfer (EFT) Information page:

  1. Select Submit to complete the EFT review and return to the Step 10: Review Electronic Funds Transfer (EFT) Information Verification page, or select Cancel to return to the Reconciliation Checklist page.

     Select [Submit]

On the Step 10: Review Electronic Funds Transfer (EFT) Information Verification page:

  1. Select Confirm to complete the review of EFT Information, or select Cancel to return to Step 10: Review Electronic Funds Transfer (EFT) Information.

     Select [Submit]

On the Step 10: Review Electronic Funds Transfer (EFT) Information Confirmation page:

  1. Select Continue to return to the Reconciliation Checklist page.

     Select [Continue]

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