How-to: Get reimbursed outside the US with TransferWise (for non-US employees)
Do you work for a US-based company from overseas and miss out on being quickly reimbursed for expenses like your US colleagues?
Expensify has partnered up with TransferWise, an FCA regulated global money transfer service, to solve this problem for you.
With TransferWise, you can sign up for a Borderless Account that includes USD account and routing numbers which you can add to your Expensify account to receive reimbursements, exactly the same as your US colleagues. You can then convert your funds into 40+ currencies and withdraw them to your local bank account. If you live in the UK or EU (and soon, Australia and New Zealand), you can also get a debit card which lets you spend the money directly from your Borderless Account.
Sounds great huh?
How you’ll set it up:
1. Check with your company that they are happy for you to submit your expenses in USD. They can review this guide to get you set up.
2. Sign up for a TransferWise Borderless Account and get verified (takes max 3 days).
3. Add your TransferWise USD account number and ACH routing number (NOT the wire transfer routing number) as your Deposit-Only Bank Account in your Expensify settings.
4. Submit your expenses on your company’s USD policy and upon final approval, you will receive the payment in your Borderless Account.
How will currency conversion work?
If expenses are not in USD, Expensify will convert them to USD when they are added to your expense report. You will be reimbursed for the approved report total in USD.
You can convert your USD reimbursement into 40+ currencies at a highly competitive, transparent rate and send it to your local bank account or spend it directly from TransferWise with the debit card if you live in the UK or EU (soon Australia and New Zealand).