DIRECT DEPOSIT OF MEDICAID PAYMENTS: Electronic Funds Transfer (EFT)
State vendors are now required to submit banking information to the State pursuant to Minnesota Statutes,
The commissioner may require payees to supply their bank routing information to enable the
payments to be made through an electronic fund transfer.
How it will work:
Direct deposit payment will be generated by Federal Employer Identification Number (FEIN) and will combine the
payment of all providers who share the same FEIN. Some businesses may need to make changes to their internal
accounting systems in order to correctly identify all enrolled providers billing under the same FEIN. You will
continue to receive a Remittance Advice (RA) as you have in the past. The RA will be generated by provider
number and will be sent to the address designated on the application form.
Payment is made directly into your bank account(s). Bank routing will allow payments to multiple banks and/or