Vendor Payment frequency is changing from twice a week to once a week, effective 8/19/2024.

Currently, Best Buy processes ACH payments to vendors twice per week. Starting on August 19th, payments will be moved to a once per week payment approach.

This change is being implemented for several reasons:

1. Adjustment of Vendor Float: One of the significant benefits is the reduction of variable float from 2-6 days to a consistent 2 days for all vendors. This will ensure a more predictable and reliable payment timeline.
2. Control Rising Payment Costs: By consolidating payments, Best Buy can better manage and control the rising costs associated with multiple payment transactions and payment runs.
3. Alignment with Industry Standards: This adjustment will bring Best Buy payment practices in line with industry standards, promoting efficiency and best practices.

Historically, payments were made on Mondays and Thursdays. Moving forward, all payments will be made on Thursdays. 

Should you have any questions or need further clarification, please contact AccountsPayable@BestBuy.com.