New Jersey Model Electronic Data Interchange Trading Partner Agreement
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FAQ
The simplest difference between them is that EDI is a data exchange format and not a payment type. Both ACH and EFT are digital payment methods. This means that ACH and EFT payments, or any other electronic payment, can include data in an EDI format.
Is an EDI payment a direct deposit? It's important to keep EDI payments in their own basket so as to not be confused about where they fall in business and how they can be used. An EDI payment is not a direct deposit but an automated replacement to the manual purchase order payments system.
You must submit claims to us electronically. Horizon BCBSNJ's electronic Payor ID is 22099.
Combining EDI and EFT Reduce time spent in data entry, paper processing and error correction, by having your accounts payable system directly feed your EDI translator.
The quick answer is that all ACH (Automated Clearing House) payments are EFTs (Electronic Funds Transfers), but not all EFT payments are ACH. And EDI (Electronic Data Interchange) is a data format, not a payment.
EFT (electronic funds transfer) refers to the sending of money electronically, while EDI (electronic data interchange) refers to sending (electronically) the case information that is required in order to post the payment and credit the non-custodial parent.
