setting up client business bank account

AnnelyseRubio

One of our clients was unable to complete connecting his business account in their Expensify account because the business owner of more than 25% was not a US citizen and therefore did not have a SSN. The requestor was a US citizen. Can you confirm that if the business does not have at least one owner of 25% + that has a US SSN they will not be able to connect their US business bank account, even if they have a requestor/signer on the bank account that is a US citizen? This will make a large impact on our Foreign owned business clients that we are recommending Expensify and the new Expensify card for their staff.

Please see the support response below. Thanks in advance for the clarification.

Hi there, thanks for writing in!

Just to confirm, we'll need you to input your own personal information in the requestor information section because you'll have access to transferring funds from this bank account in Expensify.

As a part of the process of adding a business account in Expensify, the individual adding the account and anyone who owns 25%+ of the company associated with the business account needs to have a US residential address and SSN.

Additionally, the person setting up the account needs to upload a copy of their US driver's license or passport.

Because of this, the best next step to add this account would be to have a colleague at your company who does meet the above-mentioned requirements complete the setup of this business bank account from their Expensify profile with their personal information.

I hope this helps. Let me know if you have any other questions!

Jason Li

Hi @AnnelyseRubio - welcome to the Community! That's correct - a SSN is needed if there is one beneficiary owner who owns more than 25% of the company.

Just to confirm, does the business/company itself have a beneficiary owner (who owns more than 25%)?