Bank account details must be provided and verified in Beacon before a covered entity can receive rebate payments. Only account Administrators can complete the bank account setup and verification process.
Bank account details are managed separately for each 340B ID. If multiple covered entities are associated with your Beacon account, the process must be completed for each covered entity.
Bank Account Statuses
The Bank Details section of your Beacon account displays the current status of the bank account setup for each covered entity.
Edit Details: Bank account details have not yet been submitted. An administrator must provide the required account information and certified bank letter.
In Review: The bank account information and certified bank letter have been submitted and are being reviewed by Beacon Support.
Pending Verification: The bank account details have been approved and micro-deposits have been sent to the provided account. An administrator must verify the deposit amounts to complete setup.
Active: Micro-deposit verification is complete and the bank account is ready to receive payments.
How to Provide Bank Account Details
Complete the following steps for each covered entity associated with your Beacon account:
Log in to your Beacon account.
From the Bank Details section of the right-side panel, click Edit Details.
Enter the covered entity's account name, routing number, account number, and other required bank account information.
Upload a certified bank letter from your financial institution. If you do not have access to a certified bank letter, contact your treasury department.
Confirm that the certified bank letter:
Is dated within the last 180 days.
Is signed or stamped by the bank.
Displays the bank name or logo.
Displays the account holder's name and address.
Displays the bank account number.
Click Submit.
After submission, Beacon Support reviews the information to confirm that the bank account is associated with the covered entity. The bank account status will display as In Review while the review is in progress.
If the information cannot be approved, Beacon Support will contact the account administrator to resolve the issue. Once approved, the status changes to Pending Verification and an account administrator can complete micro-deposit verification.
How to Complete Micro-Deposit Verification
After the bank account details are approved, micro-deposits are sent to the provided bank account. Beacon Support will email the account Administrators when the deposits are ready to be verified. Only an account administrator can complete micro-deposit verification.
The deposits will appear in the bank account from Beacon Disc Pymt. To help ensure ACH payments can be received successfully, establish Beacon Disc Pymt as a trusted trading partner in your ERP system.
Follow these steps to complete micro-deposits verification:
Log in to your Beacon account.
From Bank Details, click Verify Deposits.
Locate the micro-deposits from Beacon Disc Pymt in the provided bank account and enter the exact deposit amounts in Beacon.
Click Verify and Activate.
Once the deposit amounts are successfully verified, the bank account setup is complete and the Bank Account Status updates to Active.
If the bank account cannot be verified, Beacon Support will contact the account administrator to resolve the issue.
Still have questions?
If you have questions or need additional help, our team is here for you — please feel free to reach out using any of the contact options below:
Chat: Available via in-app messenger
Email: [email protected]
Phone: (878) 788-8907