Electronic Funds Transfer (EFT)
Electronic Funds Transfer (EFT)
Published 04/18/2019, 03:49 PM
Last Update 12/20/2023, 03:25 PM
Best Buy requires suppliers to enroll in our EFT Program, which 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
- Convera 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.
- Phone: 1-800-815-2460, option 2
- Email: vendormanagement@convera.com
- ePayment specialists are available to answer payment and remittance delivery questions daily from 7:30a.m. - 6:00p.m. CST.
Enrollment:
- Email the Supplier Add/Change Team at Best Buy to enroll in EFT.
- Complete enrollment form with all requested information and proceed through the prompts to submit form for approval.
- Once approval is received, payments will be processed through the ePayment Solutions Program within two weeks
Login:
Visit Convera's Payee Website to login.