Set up Stedi Treasury

Contact Stedi Support to request access to Stedi Treasury.

You must complete the following steps to receive payments through Stedi Treasury:

1. Create a billing entity: Submit an application for each legal entity that receives payments.
2. Connect your bank: Add details for the bank account where you want to receive payouts.
3. Submit transaction enrollment: Enroll providers for EFT transactions with each payer.

These steps can often be completed in minutes, although the exact time may vary depending on your organization's legal structure and the payers you choose to enroll with.

1. Create a billing entity

A billing entity is the legal recipient of funds, anchored on an Employer Identification Number (EIN) or Social Security Number (SSN). Each billing entity has a Stedi Treasury account at FDIC-insured Grasshopper Bank. You hold legal title to the funds in this account.

A single Stedi account can have multiple billing entities. You must create a billing entity for each legal entity that receives payments through Stedi Treasury. In most cases, these entities have separate tax identification numbers (TINs), such as Social Security Numbers (SSNs) or Employer Identification Numbers (EINs). For example, if you manage payments for multiple providers, each with a separate EIN, you'd create separate billing entities.

To help the government combat terrorism and money laundering, federal law requires all financial institutions to obtain, verify, and record information identifying each person who opens an account. When you open an account, we ask for your name, address, date of birth, taxpayer identification number, and other information that helps us identify you and your business, including the business's beneficial owners. We may also ask to see identifying documents.

The billing entity's tax ID must match the tax ID you use as the billing identifier in your claims and in your transaction enrollments.

Complete the application

To create a new billing entity application:

1. Click Billing entities in the side navigation to go to the Billing entities page.

2. Click Create billing entity. Stedi starts the business verification workflow.

3. Complete the form.

   • Once you've started your application, you can leave the page and come back later. Stedi saves your progress as a Draft submission on the Onboarding applications tab. Click a draft application to continue working.
   • You can't make changes after submission, so only submit when you're sure all the information is complete and correct.
   • Refer to application guidance while entering the information.

4. Read and accept the agreements, policies, and authorization documents, then click Submit for verification.

The application appears on the Onboarding applications tab in Submitted status, and Stedi begins the business verification process. The review typically takes a few minutes to a few hours, and we'll contact you if we expect it to take longer. If we need additional documentation to process your application, your application will change to the Information required status, and we'll contact you with details.

Once complete, Stedi sets the application status to Approved and adds a row to the Billing entities tab with your business details. Stedi also sets up a Stedi Treasury account at Grasshopper Bank for your billing entity. This is where we keep settled funds from payers before depositing them into your bank account.

Application guidance

When completing the application, consider the following guidance:

• Sole proprietorship versus entity: If your business is not registered as an LLC, corporation, or partnership, you are a sole proprietor and apply as an individual using your Social Security Number. Any registered business applies as an entity using its EIN. A single-member LLC applies as an entity, even if it uses the owner's SSN for taxes.
• Business leadership (the "control person"): Every entity must name one person with significant responsibility for managing the business, such as an owner, CEO, CFO, managing member, or general partner. This person must complete identity verification.
• Beneficial ownership: List every individual who owns 25% or more of the business, directly or through another company. If no individual owns 25% or more, you don't need to add any beneficial owners and can select "I've listed all owners with at least a 25% stake in the company" in the onboarding flow. If ownership runs through a holding company, a trust, or a public company, contact Stedi Support before submitting.

Application statuses

You can track your application status on the Onboarding applications tab in the Stedi portal. Your application can have one of the following statuses.

Status	Description
Draft	You started an application but haven't submitted it yet. You can return to complete it later.
Submitted	Stedi is reviewing your application. We may contact you if we need additional information or documents.
Information required	Stedi needs additional information to process your application and will contact you with details.
Approved	Stedi approved your application and created your billing entity. You can now connect your bank account and submit transaction enrollment requests for Electronic Funds Transfer (EFT) transactions.
Rejected	Stedi can't offer Treasury services for your account. Contact Stedi Support with questions.

2. Connect your bank

Once Stedi approves your application and creates your billing entity, you must connect the billing entity to your external bank account. This is your own business or personal bank account where you want to receive Automated Clearing House (ACH) direct deposit payouts.

• You can configure one active external bank account per billing entity.
• You can connect the same external bank account to multiple billing entities.

Add account details

To connect a bank account to a billing entity:

1. Go to the Billing entities page and click an entity to review its details.
2. Click Link external bank account under External bank account on the Overview tab.
3. Follow the prompts to link your external bank account.

Stedi displays summary information about the linked account on the billing entity's Overview tab.

3. Submit transaction enrollment

You must submit Electronic Funds Transfer (EFT) transaction enrollment requests to receive EFT payments through Stedi. Transaction enrollment is the process of registering a provider to exchange specific healthcare transactions with a payer.

You must submit one enrollment request for each provider-payer combination. For example, you need six separate enrollment requests to enroll two providers with three different payers. Similarly, if a single provider bills five different payers, you must submit five separate enrollment requests - one for each payer.

• Enroll with the same tax ID: The tax ID for the provider on an EFT enrollment request must match the tax ID for an approved billing entity in Stedi Treasury.
• (Recommended) Enroll for both 835 ERAs and EFTs: Some payers require that you receive both 835 Electronic Remittance Advice (ERAs) and EFTs through the same clearinghouse. Further, Stedi automatically links 835 ERAs to their corresponding payments in the portal, helping with tracking and reconciliation.

Create the enrollment

Submit an enrollment request for EFT transactions. If the payer supports it, you can use the 835 ERA + EFT transaction type to enroll for both at once. Otherwise, submit separate enrollment requests for 835 ERA and EFT transaction types.

• Stedi portal
  • Follow the UI submission instructions to create a provider record and then an enrollment request.
  • Use batch CSV import when enrolling multiple providers at once.
• API
  1. Create a production API key.
  2. Call Create Provider.
  3. Call Create Enrollment to enroll that provider with the payer.

During the enrollment process, Stedi automatically manages many of the setup and validation steps.

If payers require additional steps from providers as part of their standard enrollment process, Stedi sets the enrollment status to Provider action required and adds a task to the enrollment request with clear instructions. The enrollment process continues once the required tasks are completed. Visit enrollment process for more details.

When payments start flowing

Different payers take different amounts of time to begin sending payments after they process your enrollment. During this transition period, you continue receiving payments through your previous clearinghouse.