Connect US Business Bank Account

You can choose to connect either a business deposit-only account that only receives payments or a verified business account that can send and receive payments:

Business deposit-only account Verified business account
✔ Receive payments for invoices ✔ Reimburse expenses via direct bank transfer
  ✔ Pay bills
  ✔ Issue Expensify Cards

Connect a business deposit-only account

  1. Hover over Settings, then click Account.
  2. Click the Payments tab on the left.
  3. Click Add Deposit-Only Bank Account, then click Connect to your bank.
  4. Click Continue.
  5. Select your bank from the list of compatible banks and log in to your account.
    • If your bank is not listed, click the X to go back to the connection type. Select Connect Manually, enter your account details, select the checkbox at the bottom, then click Save & Continue.
  6. Click Allow.
  7. Ensure the correct account is selected and click Save & Continue.
  8. Add your bank account information, select the checkbox at the bottom, then click Save & Continue.

If the default account type is incorrect, you’ll need to change from personal to business or vice versa by clicking “Switch to Business” or “Switch to Personal.” The account type cannot be changed once the account is added.

  1. Enter the name, address, and phone number associated with the account. Then click Save & Continue.

You’ll now receive reimbursements for invoices directly to this bank account.

Connect a verified business account

The person who completes this process does not need to be a signer on the account, however, they will be required to enter their own personal information as well. If someone other than the Expensify account holder enters their personal information in this section, the details will be flagged for review, and adding the bank account to Expensify will be delayed.

Step 1: Connect a bank account

  1. Click your profile picture and select the workspace you want to set as your default workspace.
  2. Hover over Settings, then click Account.
  3. Click the Payments tab on the left.
  4. Click Add Verified Bank Account.
  5. Click Connect to your bank.
  6. Click Continue.
  7. Enter your phone number and click Continue.
  8. Select your bank from the list of compatible banks and log in to your account.
    • If your bank is not listed, click the X to go back to the connection type. Select Connect Manually, enter your account details, select the checkbox at the bottom, then click Save & Continue.
  9. Click Allow.
  10. Ensure the correct account is selected and click Save & Continue.
  11. Enter the company information.
    • Enter the legal business name.
    • Enter the physical company address. It must be in the U.S. and cannot be a maildrop address or P.O. boxes.
    • Enter a company phone number.
    • Enter the company website, formatted like https://www.expensify.com. Your business must have a valid website in order to use the
    • Expensify Card or pay invoices with Expensify.
    • Enter the Tax Identification Number (TIN).
    • Enter the company incorporation type, date, and state.
    • Enter the Industry Classification Code. You can locate a list of Industry Classification Codes here.

If the default account type is incorrect, you’ll need to change from personal to business or vice versa by clicking “Switch to Business” or “Switch to Personal.” The account type cannot be changed once the account is added.

  1. Enter your personal information into the Requestor Information section, including your physical U.S. address and SSN issued from the U.S. Then click Save & Continue.
  2. Verify your identity by uploading a photo of your ID, passport, or identity card. It must be issued by the U.S. and be current (i.e., the expiration date must be in the future).
  3. Upload a short video of yourself.
  4. If applicable, check the appropriate checkboxes under Additional Information.
    • A Beneficial Owner is an individual who owns 25% or more of the business. If you or someone else is a Beneficial Owner, check the appropriate box. If someone else is a Beneficial Owner, their personal information will need to be provided as well.
    • If you are a non-profit organization and no individuals own more than 25% of the company, you do not need to list any beneficial owners. In that case, leave both boxes unchecked.
  5. Select the checkboxes under Agreement.
  6. Click Save & Continue.

Step 2: Verify the bank account

Within 1-2 business days, Expensify will send three test transactions to your bank account that you’ll enter into Expensify to validate your bank account. You can confirm these amounts by doing either of the following:

  • Click the validate task from Concierge on your Home page.
  • Hover over Settings and click Account. Then click the Payments tab and click Enter test transactions. Then enter the three amounts and click Validate.

If you do not see these test transactions after two business days, click the green chat bubble in the right corner to get support from the Concierge.

Step 3: Add the bank account to your Workspace

  1. Hover over Settings, then click Workspaces.
  2. Click the desired workspace name.
  3. Click the Reimbursement tab.
  4. Click the Direct box, then click Add Business Bank Account and select the account.
FAQ

I received a “something’s gone wrong” error while trying to add my ID to Onfido.

If you receive an error message during this process, check all of the following:

  • Ensure you are using either the Safari (on iPhone) or Chrome (on Android) browser.
  • Check the browser’s permissions to ensure the camera and microphone settings are set to Allow.
  • Clear your web cache.
  • If using a corporate Wi-Fi network, confirm that your corporate firewall isn’t blocking the website.
  • While recording your video, ensure no other apps are overlapping your screen (such as the Facebook Messenger bubble).
  • If using iOS version 15 or later on iPhone, disable the Hide IP address feature in Safari.

If the issue persists, follow these steps on a different device, if possible. Contact your Account Manager or Concierge for further troubleshooting assistance.

Should I add a Beneficial Owner if our business is owned by another company?

No, you should only indicate that you have a Beneficial Owner if an individual owns 25% or more of the business.

Why can’t I input my address or upload my ID?

Ensure that the address you’re entering is in the United States. When adding a verified business bank account in Expensify, the individual adding the account and any beneficial owners are required to have a U.S. address, photo ID, and SSN.

If you do not meet these requirements, you’ll need to have another admin add the bank account and share access with you once the account is verified.

Why am I being asked for documentation when adding my bank account?

When a bank account is added to Expensify, we conduct a series of checks to comply with both our sponsor bank’s requirements and federal government regulations for the Bank Secrecy Act (BSA), Anti-Money Laundering (AML) laws, and anti-fraud.

If automatic verification fails, we may request manual verification, which could require documents such as address verification for your business, a letter from your bank confirming bank account ownership, etc.

If you have any questions regarding the documentation request you received, contact Concierge for additional assistance.

What should I do if I don’t see all three microtransactions needed to validate my bank account?

If you do not see the three microtransactions by the end of the second business day, contact your bank and ask them to whitelist Expensify’s ACH IDs 1270239450 and 4270239450. Expensify’s ACH Originator Name is “Expensify.”

Once you are whitelisted, contact your Account Manager or Concierge, and our team will re-trigger the three transactions.

What happens if my bank requires an additional security check before adding it to a third party?

If your bank account has two-factor authentication (2FA) or another security step enabled, you should be prompted to complete this authentication step when connecting the account to Expensify. However, if you encounter an error during this process, you can close the pop-up window and select Connect Manually to add the account manually.

I added a business deposit account. Can I also pay employees from this account?

To pay employees from a business deposit account, click Verify next to the bank account. This will take you through the additional verification steps required to make this account a verified business bank account that you can use to issue payments.

I connected my business deposit account. Why haven’t I received my reimbursement?

There are a few reasons why you might not have received a reimbursement:

  • The estimated deposit date on the report has not arrived yet.
  • The bank account information is incorrect. If you believe you may have entered the wrong account, contact the Concierge and provide the Report ID for the missing reimbursement.
  • Your account wasn’t set up for Direct Deposit/ACH. Please contact your bank to confirm.

Are there certain industries or businesses for which Expensify cannot process payments?

There are! If your business is associated with one of the following industries, you won’t be able to connect your business bank account to process payments:

  • Security Brokers & Dealers
  • Dating & Escort Services
  • Massage Parlors
  • Casinos & Gambling/Betting Services
  • Non-FI, Money Orders
  • Wires, Money Orders
  • Government Owned Lotteries
  • Government Licensed Online Casinos (Online Gambling)
  • Government Licensed Horse/Dog Racing
  • Crypto-currency businesses
  • Internet gambling
  • Marijuana-related businesses
  • Firearm-related businesses (manufacturing and selling)
  • NFT (non-fungible token) services

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