What is Electronic
Funds Transfer (EFT)?
Do I have to participate in
Electronic Funds Transfer (EFT)?
Are there any costs to participate in
EFT?
How can I be sure the
information I provide is secure and will be kept
private?
When will my money be available at
the bank?
How will I know the funds have been
deposited?
Can I have my reimbursement deposited
into multiple accounts?
How do I stop EFT?
What if I close or change my bank
account for EFT?
Can I join EFT at a later date?
How long does it take to start or
change EFT?
What is the earliest date I can
make a cash withdrawal on the amount of the EFT?
What if my bank did
not receive my EFT?
What if the amount of
the deposit does not agree with the amount indicated
on my bank statement?
Once I sign up, will
all my checks be deposited by EFT?
How will I know if my
bank is a member of the EFT system?
The enrollment form
asks for my checking or savings account number and
my bank's transit number. How do I find that
information?
Why do you need a
voided check or deposit slip?
If there is more than
one dentist in the practice, is each dentist
required to fill out a separate EFT Direct Deposit
Authorization Form?
Will payments from
other Delta Dental member companies be deposited
directly into my account?
What
is Electronic Funds Transfer (EFT)?
Electronic Funds Transfer (EFT) is
also known as Direct Deposit. It is the transfer of
funds from Delta Dental of New Jersey to a
participating provider's checking or savings account
at a participating bank, savings and loan
association, or credit union.
Do I have to
participate in Electronic Funds Transfer?
No. Participation is optional. However, there are
many benefits to participation, including:
Increase staff productivity - We recognize that
time is short and gas prices are high. Time
traveling and/or standing in line at the bank is
time better spent in your dental practice. EFT
allows your staff to stay productive in your office.
Reduce the risk of theft or fraud - Whether it is
mail theft or embezzlement, EFT provides greater
assurance/accountability for funds.
Predictable cash flow - Know exactly when your
funds from Delta Dental of New Jersey will be in
your bank account. No longer worry about mail delays
or trying to make it to the bank in time for a
deposit.
Are there any costs to participate in EFT?
No. The program is offered as a free service to
Delta Dental of New Jersey participating dentists in
New Jersey and Connecticut.
How can I be sure the information I provide is
secure and will be kept private?
Your information will be treated as strictly
confidential and will be accessible only to a select
few employees handling EFT. Reports will also be
generated for review when an EFT record is accessed.
When will my money be available at the bank?
Your money will be deposited weekly, usually on
Friday except when there is a holiday schedule.
Funds would then be available the next business day.
How will I know the funds have been deposited?
Check with your bank to verify that the deposit
has been made. Your Delta Dental EOBs will arrive in
the mail as usual. An EFT number will replace the
check number.
Can I have my reimbursement deposited into
multiple accounts?
Not at this time.
How do I stop EFT?
You must notify Delta Dental of New Jersey IN
WRITING 30 days prior to the date that you wish to
stop EFT (Attn: Professional Services). Delta Dental
will then terminate EFT and begin to issue you paper
checks.
What if I close or change my bank account for
EFT?
Simply complete another
EFT Direct Deposit
Authorization Form. Remember to allow 30 business
days for processing the change.
Can I join EFT at a later date?
You may participate at any time in the future by
completing the
EFT Direct Deposit Authorization
Form.
How long does it take to start or change EFT?
Sign up is accomplished by completing an EFT
Direct Deposit Authorization Form. You should allow
about 20 business days before your first direct
deposit. In the meantime you will continue to
receive a paper check.
What is the earliest date I can make a cash
withdrawal on the amount of the EFT?
Typically, the same day as the EFT is made to
your bank.
What if my bank did not receive my EFT?
This is highly unlikely; however, if it should
occur, contact our Professional Relations Department
at 973-944-4588 or 973-285-4163. They will initiate
the appropriate action to correct the situation.
What if the amount of the
deposit does not agree with the amount indicated on
my bank statement?
This is highly unlikely; however, if it should
occur, contact Customer Service at 800-452-9310.
Once I sign up, will all my checks be
deposited by EFT?
Most will be deposited by EFT. There are some
Delta Dental clients who still prefer we send
payment by check.
How will I know if my bank is a member of the
EFT system?
Most banks or savings and loans are members of
the EFT system. If you have a question, you should
call your bank and ask if it is a member of the
Automated Clearing House (ACH) who participates in
direct deposit of pay.
The enrollment form asks for my checking or
savings account number and my bank's transit number.
How do I find that information?
Checking and savings account numbers are normally
noted at the bottom of checks and deposit slips as
well as the nine-digit transit number. For a sample, click here.
Why do you need a voided check or deposit
slip?
This additional documentation eliminates
confusion or errors on properly recording your
bank's transit number. The voided check and/or
savings deposit slip should be attached to or copied
and mailed along with the enrollment form. The
account and transit numbers should be verified with
your financial institution to determine that these
are the correct numbers for ACH transactions.
If there is more than one dentist in the
practice is each dentist required to fill out a
separate EFT Direct Deposit Authorization Form?
Yes.
Will payments from other Delta Dental member
companies be deposited directly into my account?
No. This applies to payments made by Delta Dental
of New Jersey and Delta Dental Insurance Company
payments generated by Delta Dental of New Jersey.
