If you are an employee then please click here to add a US Deposit Account
Expensify makes reimbursing expense reports quick and easy. Companies can reimburse expense reports within Expensify with ACH Direct Deposit or PayPal.
What's covered in this article?
- Overview and prerequisites
- Adding a withdrawal account for employee reimbursement
- Set up a PayPal reimbursement account
- Setup troubleshooting and FAQ
- Who can reimburse employees?
- How to share a reimbursement account
- Assigning a default reimburser
- Configuring manual ACH reimbursement
- Reimbursing reports
- Locked withdrawal accounts
- Unlocking your withdrawal account
- How to change or update a bank account name
Overview and prerequisites
ACH reimbursement ability is available to any user with access to a company withdrawal account.
- Expensify cannot process reimbursement for any single report over $20,000.
- Company admins won’t be able to reimburse expense reports via ACH unless the employee has added a deposit account, and the company admin has added and validated a withdrawal account.
- For information on reimbursement timing in the US via ACH, please click here
Adding a withdrawal account for employee reimbursement
Setting up a withdrawal bank account will allow you to pay back employee expenses from the same bank account from which all other company expenses are withdrawn.
We also offer Rapid Reimbursement by default to all customers!
- Rapid Reimbursement reduces the processing time from 4-5 business days to just one business day.
- The limits on Rapid Reimbursement are $100 per-deposit account per-day and $10,000 per-withdrawal account per-day.
- If you've reached either of these limits, then no problem! We will automatically defer to the typical ACH speed (4-5 business days).
Step 1: Go to Settings > Your Account > Reimbursement > and click Add Withdrawal Account
Step 2: Choose your bank connection type
- Log Into Online Bank Account: You'll be shown a list of compatible banks that offer direct online login access.
- Manually Enter Account Details: You'll be directed to manually enter your account and routing number in order to connect.
Step 3: Login: Choose your bank account provider
- Note: If your bank is not listed, click Exit (or the X in the top right corner) to go back to the connection type. Choose Manually Enter Account Details, then skip to Step 5.
Step 4: Enter your bank login credentials
- Note: If your bank requires additional security measures, you will be directed to obtain and enter a security code.
- If you have more than one account available to choose from, you will be directed to choose the desired account.
Step 5: Enter your company information
Step 6: Enter your personal information
Step 7: Complete the ACH Contract
Step 8: The account you setup will be in your Settings > Your Account > Reimbursement section in either Verifying or Pending status.
If it is Verifying, then our Risk Team will reach out for more information.
If it is Pending, then in 1-2 business days Expensify will administer 3 test transactions to your withdrawal account.
Once these transactions - 2 deposits and 1 withdrawal - have posted to your account, go to your Inbox page and you will be prompted to enter the transaction amounts.
Step 9: You're done! A withdrawal account that is successful should appear like this:
Set up a PayPal reimbursement account
You may also choose to reimburse employees via PayPal if both you and the employee have PayPal accounts. You will not be able to pay to an employee via PayPal if they have setup a direct deposit bank account.
Please note that withdraw accounts must be verified PayPal accounts, in that they must have a bank account attached to them. There is usually a $0.50 fee charged by PayPal for reimbursing reports, but this has been waived as a part of our special promotion.
To set this up:
- Go to Settings > Your Account > Reimbursement, scroll to PayPal Reimbursement Accounts.
- Click Link next to the Withdrawal account line. This will take you to an intermediate page letting you know PayPal will be used to link your account and walk you through the steps to complete setup.
Setup troubleshooting and FAQ
Why ask for requesting user's personal ID documents?
There's always someone ruining it for everyone else.
Criminals have long used electronic money transmission channels to conceal the source of fraudulently-obtained or stolen funds in order to fund illegal activities. As a result of this, the OCC and Federal Government requires all entities facilitating the movement of money (that'd be us) to comply with Bank Secrecy Act / Anti-Money Laundering (BSA / AML) laws.
These laws require us to know the identity of the person that is initiating the movement of money (that'd be you), irrespective of whether that money is coming from a company or personal account. Thank you for helping us keep your account safe!
What is a 3-way validation bank call and why is it necessary?
In some cases, when your account is in
Verifying status, you may receive an email from our risk team requesting a 3-way validation bank call.
Why we insist on this step:
Reimbursement through Expensify comes at no extra cost and we are committed to keeping it that way. In order to do this we have to be very sharp when it comes to protecting ourselves against fraud. In today’s environment of bank account takeovers and kiting related fraud, that’s easier said than done. Short of charging for each transaction thereby creating a reserve for ourselves for potential losses, this step is necessary.
What are we validating in this step:
The goal of this step is to make sure the bank account given to us is indeed a business bank account and belongs to the company. We try to automate this using not one but two separate validation platforms. Even so, we are forced to resort to manual validation via phone call some of the time.
On the call we validate one simple thing: Does the bank account supplied belong to the company or not?
How do I set this up most efficiently?
The call with the bank can proceed in 2 ways:
- Preferred: You can refer us to your specific bank representative. If you give them the context for the call and authorize them to speak with us ahead of time, we may not even need you on the call. If you decide to do this, you can send your banker the link to our calendar below.
- Alternatively: If above isn't available to you, we can call your bank’s general support line, no problem, but you need to be on the line with us since your bank will need to authenticate you first and will need your permission to speak with us. You know your bank’s wait times best, so please block off time accordingly.
The email from our risk team will guide you through the process of setting up this call.
I'm still waiting. Why has my account not yet been validated?
If it's been a little while and you still haven't seen that your account is validated, it's possible that we have tried to reach you via email requesting additional information. Please check your inbox, spam, and/or trash filters for an email from firstname.lastname@example.org just in case there is something we need from you.
Who can reimburse employees
Only the Policy Admin who has added the withdrawal bank account to their Expensify account will be able to reimburse employees. No other Policy Admins or users will be able to reimburse employees from that bank account, unless permission has been granted.
How to share a reimbursement account
This person must first be a Policy Admin for a Group policy.
- Go to Settings > Your Account > Reimbursement
- Click Share on the account you want to share, and select the Policy Admin to share with.
- We will process this share request and the account will normally be available to reimburse reports within 1-2 business days.
Assigning a default reimburser
If more than one Policy Admin has access to the reimbursement account, any of them will be able to reimburse on the policy at any time.
The main benefit of being defined as the "reimburser" in the policy settings is that this user will receive notifications in their Inbox alerting them when reports need to be reimbursed.
As a note, the "reimburser" is also considered the actor if any automatic reimbursement is enabled for the policy if your policy is using the Manual Reimbursement threshold.
The default reimburser can be assigned in the policy setting's under Settings > Policies > Group > [Policy name] > Reimbursement.
Locked withdrawal accounts
When you reimburse a report, you authorize Expensify to withdraw the funds from your account. However, if your bank rejects Expensify’s withdrawal request, your withdrawal account will be locked until you resolve the issue.
Unlocking your withdrawal account
Step 1: Determine the reason for the rejected request.
Withdrawal requests can be rejected due to insufficient funds, or if the withdrawal account has not been enabled for direct debit.
Step 2: Contact your bank to take the required steps to resolve the issue.
- Note: If you need to enable direct debits from your withdrawal account, your bank will require Expensify’s CompanyID (1270239450) in order to allow future debits from the account.
Step 3: Submit a request to email@example.com
Once you’ve resolved the issue, please email firstname.lastname@example.org with these details:
- The subject line “Unlocking withdrawal account”.
- Your user email address, including the last four digits of the locked account, and the reason for the rejected request (i.e., insufficient funds, account not enabled for direct debits).
Once we receive your email, we will follow up and unlock your account.
How to change or update a bank account name
Has your account name changed, but the account number and routing number stayed the same? Now you can update your bank account name by simply clicking on the current name, or hovering over it and clicking the blue pencil icon. Change the name as needed and hit Enter to save the change. These changes only affect the name displayed within Expensify and not on your bank website.
For a live overview of the Policy Admin role, policy management and administration, register for our free Admin Onboarding Webinar!
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