What is Electronic Funds Transfer (EFT) and how does it work?
EFT is a safe, proven, confidential method of receiving claim payment from Blue Cross and Blue Shield of Illinois. Funds are electronically transferred directly into your bank account. Is EFT for everyone? EFT is an important benefit for any office or facility. As long as you have a bank account EFT can be an excellent financial planning tool as well as a safe, private, convenient way to receive payment for your claims. I am uneasy about technology as it applies to electronic payments. Don’t I have more control over finances by receiving a paper check? Offices and facilities that receive their claim payments electronically are very satisfied with EFT. They feel that it is safer and more secure than receiving paper checks. EFT helps to eliminate lost or stolen checks. It prevents the possibility of checks being sent to an incorrect address. Problems with EFT are rare. It would be more likely to have problems with paper checks than electronically transferred funds. How long does it take
