Electronic funds transfers (EFT) for Medicare claims 011-43120000

This document outlines electronic funds transfers (EFT) for Medicare claims.

Payment cycle

The Medicare patient claim EFT payment cycle takes between 1-3 days.

Payments processed before the cut-off of 6:30 pm Australian Eastern Standard Time (AEST) are transferred into the claimant’s nominated financial institution, in most cases, the next business day after the claim has been processed. This excludes claims processed on weekends and national public holidays.

Medicare cannot guarantee that in all cases, for all financial institutions, funds will be available the next business day. This is dependent on the individual’s bank clearance processes. Any enquiries from the claimant regarding availability of deposits should be directed to their financial institution.

Service Officers should perform a public security check with the claimant, then confirm bank account details used for the funds in question to ensure the correct details have been provided.

Contents

Medicare benefit not received (EFT dispute)

Store, confirm and end date bank account details for Medicare EFT payments

Identify Medicare direct deposits on claimant's bank statements