Direct Deposit to a Checking 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will allow you to pay back employee expenses from the same bank account from which all other company expenses are withdrawn. Now, we also offer Rapid Reimbursement by default to all customers. Rapid Reimbursement pushes reimbursement times 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).
Adding 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 via ACH unless the employee has added and validated a deposit account, and the company has added and validated a withdrawal account.
- For employees, just click 'Add Deposit Account' enter your routing number and account number.
- For the company withdrawal account, more information is required. Click the 'Add Withdrawal Account' button and then enter the required information.
Required Step: Verifying your deposit or withdrawal 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 policy admins or users will be able to reimburse employees from that bank account, unless permission has been granted.
To share reimbursement with another person (they must be a policy admin), 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.
Timeframe to Receive a Deposit
For smaller reports, you'll typically receive reimbursement in one business day via Rapid Reimbursement. The default limits for this 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).