null Electronic Funds Transfer (EFT)

Electronic Funds Transfer (EFT)

Published 09/27/2018, 06:27 PM
Last Update 10/02/2020, 03:31 PM

Best Buy requires suppliers to enroll in our EFT Program, facilitated by Western Union Business Solutions. It offers a quick, easy, and no cost way to receive payments electronically. Benefits include:

  • Ease in Payment Delivery – All payments will be deposited directly into your bank account.
    • No lost checks
    • No delays due to slow or lost mail
    • No trips to the bank
       
  • Immediate Payment Notification – As soon as a payment is initiated, an electronic notice is generated via email stating:
    • Expected payment date (float days apply)
    • Remittance details
    • A link to secure website to track payment
  • On-Demand, Downloadable Remittance Details
    • 24 hours a day, 7 days a week
    • A variety of formats easily integrated into your existing AR system with no limit to the amount of data or information you can receive. Formats include:
      • Email – with two “format” options; EDI or BBY Landscape
      • CTX – with “format” of EDI
      • Download from secure website- with two “format” options; EDI or BBY Landscape
      • Receive remittance details from your bank via a CCD, CCD+ or CTX file
  • Western Union Business Solutions Client Service & Support – ePayment specialists are available to answer payment and remittance delivery questions daily from 7:30a.m. - 6:00p.m. CST.

Enrollment:

  1. Visit EFT Enrollment for Non-Merchandising (GNFR) Partners
  2. Complete enrollment form with all requested information and proceed through the prompts to submit form for approval.
  3. Once approval is received, payments will be processed through the ePayment Solutions Program within two weeks