How to: Pay your Expensify Card balance

Stephanie ElliotStephanie Elliot Expensify Team Posts: 65 Expensify Team
edited December 2020 in How-to Docs

Paying your Expensify Card balance couldn't be easier, thanks to automatic settlement. Expensify Cards are settled daily, meaning that the card balance is paid in full each business day.

How it works

Each business day (that's Monday through Friday, excluding US bank holidays), the total sum of pending and/or posted Expensify Card transactions across the domain that occurred since the last settlement are summed up. That grand total is the settlement amount, meaning it's the amount that will need to be paid to bring the Expensify Card balance back down to $0.

That settlement amount is then withdrawn from the Verified Business Bank Account on file for the primary domain admin, configured on the web app under Settings > Account > Payments > Bank Accounts.

That payment is applied to the Expensify Card account. Once the payment is made, the card balance will be at $0 and the cards are considered “settled”. 

You can change your settlement account by going to Settings > Domains > [Domain Name] > Company Cards page. Then once in the Company Cards page, click on the Settings tab and select a new account from the dropdown menu. After selecting a new account, click save and then confirm the change.

That's all there is to it! The Expensify Card statement will be settled daily by an automatic withdrawal from your business bank account, no action required.

Related Articles

Sign In or Register to comment.