Expensify makes reimbursing expense reports quick and easy. Companies can reimburse expense reports within Expensify with ACH Direct Deposit or PayPal. Both features are only available to companies on the Team and Corporate policies, and currently only available in the US.
What's covered in this article?
- Important notes
- Adding a withdrawal account for employee reimbursement
- Sharing reimbursement permissions
- Canceling direct deposit reimbursements
- PayPal reimbursement
- Reimbursements outside of Expensify
- Locked withdrawal accounts
- Changing bank account names
Reimbursement through Expensify comes at no extra cost. This feature is included in the cost of the Team and Corporate plans.
- Expensify cannot process reimbursement for any single report over $20,000.
- Reimbursement through Expensify (ACH) is only available within the United States.
- Daily cut-off time to initiate reimburse via ACH is 3pm PST, anything later will be considered the next day.
- Employee ACH deposit accounts should be added in the employee's Account Settings > Reimbursement section and not in the admin's reimbursement section. Visit our Deposit Accounts page for more details.
- All accounts are set up in Account Settings > Reimbursement, whether you’re setting up a company withdrawal account or a personal deposit account.
- Company administrators won’t be able to reimburse expense reports via ACH unless the employee has added a deposit account, and the company has added and validated a withdrawal account.
- Need to change the display name on your bank account? Scroll all the way to the bottom of this page and we'll show you how.
- Pro Tip: After you get set up, make sure to set your manual reimbursement threshold. This will make it so that you don't have to take the extra step of clicking the "reimburse" button unless necessary.
Adding a Withdrawal Account
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will allow you to pay back employee expenses from the same bank account from which all other company expenses are withdrawn.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 default 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: Click 'Add Withdrawal Account'
Step 2: Choose your bank account provider
- Note: If your bank is not listed, click on an 'Other' option. Enter your account and routing number to continue, then skip to step 5.
Step 3: 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 4: Enter your company information
Step 5: Enter your information
Step 6: Complete the ACH Contract
Step 7: You will see this screen while we work on validating your account. Concierge will reach out if we need more information. Otherwise, you will wait until you receive your test transactions, and can move on to step 8.
Step 8: Validate your withdrawal account! In 1-2 business days, Expensify will administer three test transactions to your withdrawal account. Once these transactions - two deposits and one withdrawal - have posted to your account, go to Account Settings > Reimbursement and click the “Validate” button next to the pending account. You will be prompted to enter the transaction amounts.
Step 9: You're done! A withdrawal account that is successful should appear like this:
Why ask for requesting user's ID?
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!
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 can I share the reimbursement account?
This person must first be a policy administrator.
Log in to the Reimbursement section in account settings, then click 'Share' next to 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.
Cancel Direct Deposit Reimbursement
Reimbursed a report by mistake? No worries! Any policy admin with access to the same withdrawal account can now cancel the reimbursement from within the report, up to the point at which it is withdrawn from the payment account.
You may also choose to reimburse employees via Paypal if both you and the employee have PayPal accounts.
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.
Go to Account Settings > Reimbursement, scroll to PayPal Reimbursement Accounts and click the “link” button next to the Withdraw account box. 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.
Paying Externally? Manually mark reports as reimbursed!
For those companies that reimburse expense reports outside of Expensify, marking reports as reimbursed lets employees know that payment is on the way!
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:
- The subject line as “unlocking withdrawal account”
- The email 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.
Change or Update 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 site.