Electronic Funds Transfer (EFT)

Business customers, pay your bill directly from your account to Xcel Energy when you choose with Electronic Funds Transfer (EFT). Unlike AutoPay, electronic payments through EFT give you complete control over:

• the timing of when you want to make a payment and
• the exact amount of your payments

This helps you minimize your cash management efforts and maximize your use of funds.

EFT provides quick and convenient electronic transactions (also called EDI-820 payments) using the Automated Clearing House (ACH) network, part of the Federal Reserve Bank system.

Our Format for Accepting Files: Corporate Trade Exchange (CTX)

As a result, you will be able to pay your Xcel Energy bill using your CTX software, or your third party vendor - if they have CTX capabilities.

EFT files have two components: payment instructions and remittance detail. To get started with EFT, call our Business Solutions Center at 1-800-481-4700 or email us.

If you need assistance locating a CTX software package, please contact your bank or the National Automated Clearing House Association (NACHA) at 703-561-1100.

Electronic payments give you complete control over the timing and amount of payments, minimizing cash management efforts and maximizing the use of funds. EFT saves you time and more:

• Eliminates check printing, writing and mailing costs
• Reduces reconciliation costs related to filing, matching, storing and researching
• Provides a pre-determined settlement date
• Provides a fully traceable acknowledge-transaction receipt
• Improves security by eliminating mailing and handling of checks
• Protects transactions by using passwords, relationship validation and audit control

To qualify, you must be a business customer of Xcel Energy who can transmit CTX formatted payments through your own software or through a payment processor like a bank.

Not familiar with EFT

Electronic transactions are made using the Automated Clearing House (ACH) network. EFT files have two components: payment instructions and remittance detail. Follow these easy steps to get started:

• Obtain the capability to transmit CTX formatted EDI-820 payments by either:
  • Purchasing your own software.
  • Working with a payment processor like your bank.
  • For assistance locating CTX software, contact your bank or the National Automated Clearing House Association (NACHA) at 703-561-1100.
• Complete the Customer Information Form and fax it to us at 806-640-6585 or mail it to the address provided on the form. The form is also available by contacting our Business Solutions Center at 1-800-481-4700.
• We will send you our banking information for your service location.
• When you receive your bill, access your bank and Xcel Energy's bank through CTX software.
• Your electronic payment approval and remittance detail is forwarded to your bank, which in turn releases your funds to Xcel Energy's bank.
• Our bank credits our account and sends us a payment file with your remittance detail.
• The payment file is extracted and we post your payment to your account numbers provided in the remittance detail.

Familiar with EFT

• Ensure your company has the capability to transmit CTX formatted EDI-820 payments through your own purchased software or through a payment processor or your bank.
• Complete the customer information form (see below) and return as indicated. The form is also available by calling 1-800-481-4700.

If you have any questions about EFT, contact our Business Solutions Center at 1-800-481-4700.