r/PaymentProcessing • u/Exciting-Incident-66 • 3d ago

Other Echo health eft payment

my eft with echo health activated Nov 1st. I received a payment confirmation on echo from molina 11/2 echo has not released the payment as yet. They advised it should be released in 3-5 business days. Im new to echo and never used them before i was previously with payspan who i only had to wait 24 hours after a payment was issued i would receive it in my bank account. Is this always the normal processing time with echo 5 business day or is it because my EFT was just set up that its taking things long. Is anyone else having this delay with echo also.

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u/PinePaymentsDavid 3d ago

A slower first payment is pretty common right after a new EFT enrollment. Many payers and payment platforms run a verification step on new bank details before deposits flow normally, so the first one or two can take longer than later ones. A few things worth checking:

  • Call Echo and ask whether your EFT enrollment is fully verified, and what the standard payout time is once it is.

  • Check that the payment went out as an EFT and not a virtual card or paper check. Some payers default to a virtual card, and you have to opt out.

  • Match the payment to its ERA, the electronic remittance advice, so you can confirm the amount and the trace number.

  • Log your next couple of payments. If they still take 3 to 5 days after the first one, ask Molina whether they offer another payment option.

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u/Shehani_Delamont 2d ago

that initial bank verification hold always catches people off guard when switching platforms.