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Why is Expensify asking for access to ALL of our banking information?

JAB_PascoJAB_Pasco Expensify Customer Posts: 2 Expensify Newcomer
I am confused at why Expensify is asking for access to all of our banking transaction information.  Why?  We don't want you to have all of that access and I see no benefit in reimbursing my employees using Expensify if that is the new process.  

Best Answer

  • April BekkalaApril Bekkala Expensify Customer, Expensify Team Posts: 70 Expensify Team
    Accepted Answer
    You are definitely not required to use Expensify ACH feature to reimburse your . If you don't want to use the ACH feature then you will simply not add a company withdrawal account. 

    If you do choose to use Expensify ACH, then the proper security measures will be taken prior to approving you for using the feature. Which you do not have the ability to opt out of. 

Answers

  • Stephanie ElliotStephanie Elliot Expensify Team Posts: 61 Expensify Team
    Fair question, @JAB_Pasco! When validating a Business Bank Account, we require access to transaction history so that we may monitor to prevent fraud on our end. Since Expensify facilitates direct debit in the form of next-day reimbursements, this is an effort to protect against the possibility of the debit being returned for insufficient funds. We also use fraud algorithms to review transaction history to determine if there are red flags that we need to pay attention to before we can approve an account for direct debit. Heads up, we do require access to transaction history in order to use Expensify ACH reimbursement - there is no workaround here. 

    As far as understanding the seriousness of requesting this sort of information, do know that we take our customer's security and privacy very seriously. To learn more, take a look at our help document on security and our Privacy Policy for more information.
  • JAB_PascoJAB_Pasco Expensify Customer Posts: 2 Expensify Newcomer
    I can understand your concerns if we use ACH.  What if we don't want to have ACH reimbursement and handle that through another vendor?  We like to use Expensify for tracking and capturing expense reimbursements, but do not want to give Exepnsify access to ALL of our transactions in order to use the feature of ACH.  Is that possible?  
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