Direct Deposit to a Checking Account
Setting up a reimbursement bank account will allow you to pay back employee expenses from the same bank account from which all other company expenses are withdrawn. And on the receiving end, employees are reimbursed within 4-5 business days - faster than a bi-monthly payroll period.
Add a Direct Deposit Account
All direct deposit accounts are set up in Settings > Reimbursement - no matter if you’re setting up a company withdrawal account or an employee reimbursement account.
Please note: If you don’t see the option to add a direct deposit account at Settings > Reimbursement, then you are not a current member of your company’s expense policy OR you have not successfully upgraded to the Team plan or above.
Company administrators won’t be able to reimburse expense reports unless reimbursement accounts exist on both the sending and receiving end.
- For employees, just enter your routing number and account number
- For the company withdrawal account, more information is required. Click the “add reimbursement account” button and click the option for “This is a withdrawal account used to reimburse reports”.
Verifying your account
In 1-2 business days, Expensify will administer three test transactions to your reimbursement account. Once these transactions - two deposits and one withdrawal - have posted to your account, go to Settings > Reimbursement and click “validate” button next to the pending account.
Here you will be prompted to enter the amounts of these test transactions. Click ‘okay’ and your account will be activated.
Who can reimburse employees?
Only the person who has added the withdrawal bank account to their Expensify account will be able to reimburse employees. No other admins or users will be able to reimburse employees from that bank account, unless permission has been granted. If you want to grant more than one person access to this bank account, please contact firstname.lastname@example.org.
Timeframe to Receive a Deposit
Reimbursing with direct deposit takes 4-5 business days.