Vendor Electronic Funds Transfer (EFT)
Frequently Asked Questions & Answers About Electronic Funds Transfer
The City of Naples offers the opportunity for vendors of the City to receive payments electronically, instead of by check. About 25% of the city’s vendors have been using this program since it was started more than a year ago.
The benefits of Electronic Funds Transfer (EFT) are numerous. This free service provides secure payments to City of Naples vendors; EFT eliminates checks that can be lost in the mail or stolen. Vendor payments arrive more quickly; money is deposited immediately into the banking account, whereas checks can take days or longer. Vendors save time because they no longer need to stand in line to process check payments at the bank. Why wait? Enroll today by completing the three easy sections on the application.
What is Electronic Funds Transfer or EFT?
Electronic Funds Transfer, often called EFT, is a transfer of funds initiated electronically. It is a payment method that replaces sending a paper check.
Is there a cost for using EFT payments?
No, the City of Naples does not charge for vendor payments received through an EFT payment.
How do vendors enroll in EFT?
Registration for EFT is a simple one-time process. To have payments electronically deposited, vendors need to provide the following bank account information: bank account number, bank routing number, bank account type (either checking or savings).
To enroll in EFT, vendors need to complete the EFT Application with the above information and attach a voided check, to request an EFT Application, please email your request for the form to AcctPayable@naplesgov.com or mail your request to the City of Naples Accounts Payable, 735 8th St S., Naples, FL 34102
When will EFT payments begin?
It can take up to a month before EFT payments are established. Until then, payments will be sent by check.
How do vendors know when the payments have been deposited
Vendors will get an email notifying them when their money is deposited into the bank. Vendors may also contact their banks directly or use online banking or bank statements to confirm their deposits.
Who do vendors notify if there is a discrepancy?
Vendors should contact the City of Naples Accounts Payable Division at 239-213-1817.
What if money is credited to the wrong account?
If vendors forget to notify the City of Naples after changing banks or accounts, or perhaps a vendor provides wrong account information, then the receiving bank will reject the payment and the City of Naples will be notified. Rather than delay the vendor’s payment, the City of Naples will then mail a check. The vendor will then need to update their account information with the City of Naples.
How should vendors notify the City of Naples about bank account changes?
A vendor with bank account changes should complete a new EFT Application and submit a voided check. That information should be emailed to AcctPayable@naplesgov.com or mailed to City of Naples Accounts Payable, 735 8th St S., Naples, FL 34102
What if the vendor’s address changes?
Address changes will not affect EFT payments and therefore EFT paperwork would not be needed. However, vendors should always notify the City of Naples of business address changes by emailing AcctPayable@naplesgov.com or mailing the address change information to City of Naples Accounts Payable, 735 8th St S., Naples, FL 34102
Can the EFT payment process be terminated?
Vendors can terminate EFT payments by submitting their request in writing
What if a vendor’s name or tax identification number changes?
Vendors that change names or tax identification numbers must submit a new EFT Application.
