Stedi Treasury
Provision bank accounts, enroll for EFTs, and collect payment from payers.
Automatically match payments to ERAs and related claims. Track the entire claim lifecycle from claim submission to payout in the Stedi portal.
How it works
One platform for payments, ERAs, and claims
Payments, ERAs, and claims live in one place. Trace a payer payment back to its ERA and claim in the Stedi portal.
Benefits of Stedi Treasury
Provision and connect bank accounts
When you create a billing entity on Stedi, you are able to provision your own client-titled DDA account. Next day payouts go to your external account.
Turnkey EFT enrollment
Send an enrollment request through Stedi’s Enrollment API, UI, or CSV. Stedi handles the paperwork.
Automatic reconciliation
Stedi matches each payment to its related claims and ERAs in the Stedi portal. No spreadsheets, no manual matching.
Paper check deposits
Stedi Lockbox automatically scans and deposits paper checks so you can reconcile them just like electronic payments.
Paper remits
Stedi Lockbox turns paper remits – EOPs and EOBs – into PDFs with OCR text.
Stedi Treasury accounts
Stedi works with its banking partner, Grasshopper Bank, to open client-titled, demand deposit (DDA) bank accounts – called Stedi Treasury accounts – in the provider’s name.
Payments from payers first land in one of the provider’s Stedi Treasury accounts. This lets you track the payments in the Stedi portal.
Once a payment settles, Stedi pays out the full amount to the provider’s external bank account. Setup takes three steps:
- 1Create a billing entity for each legal entity that receives payments.
- 2Link each billing entity to an external bank account.
- 3Enroll the provider for EFTs with each payer.
Stedi is a financial technology company, not a bank. Banking services are provided by Grasshopper Bank, N.A., Member FDIC. The FDIC’s deposit insurance coverage only protects against the failure of an FDIC-insured bank.
Less enrollment paperwork
Payers typically send payments to providers by electronic funds transfer (EFT), which requires enrollment with the payer.
With Stedi Treasury, you submit and track EFT enrollments with the same transaction enrollment process you may already use for ERAs. Where possible, we handle the paperwork for you.
If your payer still mails paper checks, you can use Stedi Lockbox to automatically scan and deposit their paper checks into a Stedi Treasury account.
Automatic reconciliation
If you submit claims and receive ERAs through Stedi, each payment links back to its ERA and claim in the Stedi portal. Stedi associates payments with ERAs using the reassociation trace number returned in both.
You can track the entire claim lifecycle, from claim submission to payout, without matching payments by hand.
Payouts
Stedi issues a payout immediately after a payment settles in a Stedi Treasury account. Funds typically arrive in the linked external bank account the next business day. We don’t hold funds.
Each payment gets its own payout for easier tracking. A $100 payment produces a $100 payout. Payouts aren’t bundled, and any fees are billed separately.
Payout timing subject to standard cutoff times, Federal Reserve operating days, and settlement reviews.
Private preview
Stedi Lockbox
Payers don’t always pay electronically. Many still mail paper checks, and many mail paper remits – EOPs or EOBs – instead of ERAs.
A Stedi Lockbox is a mailing address that receives payer mail on the provider’s behalf. Stedi scans and deposits every check that arrives, so you can reconcile it like an EFT payment. Paper remits and other mail become PDFs with OCR text.
Get started with Stedi Treasury
Stedi Treasury is generally available for Stedi production accounts. Contact us to turn it on for your account.
Stedi Lockbox is in private preview – reach out if you want to join.
Stedi is a financial technology company, not a bank. Banking services are provided by Grasshopper Bank, N.A., Member FDIC. The FDIC’s deposit insurance coverage only protects against the failure of an FDIC-insured bank.