How is the bank account EFT information verified?
The TPA will perform periodic account-validation testing at least once per payment period and as required when CGDP participants make changes to their bank accounts. The validation process will be conducted in the form of a “Penny Test,” where $0.01 is deposited by Palmetto GBA into payee accounts on file with the TPA. This amount is funded by the TPA and is not expected to be returned.
Last Updated: 08/17/2015