Medicare enrollment EFT requirements
Medicare uses Form CMS-588 to authorize electronic funds transfers (EFT). Submit account confirmation on bank letterhead or a voided check with the information required by the form. The bank letter should include:
- The account holder’s legal name, consistent with the CMS-588.
- The electronic routing number, account number and account type.
- The bank officer’s name and signature on the bank’s letterhead.
Ask your bank to confirm the routing number used for ACH deposits, including any leading zeros. Starter checks are not accepted. Follow the current CMS-588 instructions for your enrollment and account details. EFT authorization alone does not enroll a provider in Medicare.
Medicare bank letter template
Use our example to help your bank prepare its confirmation letter.
CMS-588 EFT agreement
Get the official EFT authorization form and its current instructions from CMS.
Have your bank complete and sign the letter on its own letterhead. Use the current CMS-588 instructions for the details required with your submission.
Please be sure to reach out if you have any questions about this requirement or need assistance completing the Medicare enrollment process.