How do I get paid via electronic fund transfer?

Kristina

Benefits of Online Payment:

You may now receive your payouts directly to your bank account through Online Transfers and receive the following benefits:

• Receive your money directly to your bank account on the scheduled day (1 day earlier if BDO)
• Each payout transfer is FREE, with no bank fees charged to you
• Access your cash up to five days earlier by avoiding bank cutoffs and check clearing days
• Avoid the heavy traffic and long lines to claim and deposit your checks

 

Steps to Sign-Up for Online Payment:

Step 1. Re-upload your BIR Certificate of Registration (COR) a.k.a BIR Form 2303 in your SC Profile.

     – You may try to download the document uploaded in your seller center profile. Make sure that error shown below does not appear, and that you are successful in downloading the document:

error.PNG

  • Few reminders:Few reminders: Few reminders:Few reminders: Few reminders: Few reminders:  

     – Kindly make sure the copy you uploaded is clear and readable (esp. T.I.N Business Name)

     – Please use a file type acceptable for the upload (jpeg, pdf, png)

cor.PNG

Step 2. Make sure your bank details aligned with registered business name.

     - Ensure your bank details is aligned with registered business name

bdo.PNG

Few reminders: 
– Account Name : make sure your account/payee name is aligned with registered business name:

-  Account Number : include 0s if necessary

Step 3. Sign up through the seller survey to notify finance your request to be paid online.

Click link below to fill out the survey: 

http://bit.ly/2wzWENz

Few reminders:

– Please make sure you are already done with Steps 1 and 2 before furnishing the survey.
– Filling out the survey doesn’t automatically change your payment method to online payment, your seller profile will still be subject to validation.
– If you have multiple accounts/shops in Lazada, you must perform all steps for each account.

Step 4. Wait for notification from finance team if your account has been successfully enrolled.

  • Once received, finance will validate your request by verifying the following:

    – Your BIR COR/2303 is downloadable from your seller center profile.
    – Your seller profile reflects your Bank Account details.
    – Ensure all accounts under the same merchant (if there are more than 1) have been updated.
    – Match your bank account name (a. k.payee name) with registered business per COR.
    – Validate account number to check if indicated is valid, not closed and matching with the stated bank account name.

  • After validation, the finance team will notify sellers who signed up for online transfer of the result validation (approved or rejected).
  • Please take note that only sellers who filled out the survey before SOA cut -off (14 off and 30 th /31 st ) will be subject to validation and have the ) will be subject to validation and have the ) will be subject to validation and have the chance to be changed to online payment starting the payout for that cut -off. All responses recorded after will be considered for the next off. All responses recorded after will be considered for the next off. All responses recorded after will be considered for the next off. All responses recorded after will be considered for the next scheduled pay out.

 

*Frequently Asked Questions:

1) Is it okay to use my account, but it's not under my business documents' name, can I use it?

  • No. Same rule still applies when enrolling online bank transfer, it should be named under the business or proprietor's name.

2) We don't have a BDO account, can we use accounts from other banks?

  • Yes. We already have inter-bank transfer to banks other than BDO.

3) What will be the deposit schedule if we move to online fund transfer payout?

  • Same schedule applies. Payout will be made every 7th and 22nd (one day earlier with BDO), but there will be no need to wait for bank clearing days in order to utilize the funds.

4) Can we send the collection receipt/BIR Form 2307 via mail or courier?

  • Yes. You can transmit collection receipt and/or BIR Form 2307 via mail, a 3rd paty courier or via your messenger to our BGC office. Just make sure the documents are transmitted before the next scheduled payout to avoid your that payout from being put on hold.

5) Can we still receive a deposit slip?

  • No. Since this is a bank transfer there is no deposit slip. Seller must check in transaction history through online.
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