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Learn about reimbursement time frames
Learn about reimbursement time frames

Learn about the time frames for TravelBank reimbursements

Anna Allen avatar
Written by Anna Allen
Updated over a week ago

Purpose

This article explains the time frames for TravelBank reimbursements.

Audience

This article is intended for TravelBank administrators.

Prerequisites

During processing of reimbursements, TravelBank checks for:

  • a verified company bank account (so the company can send out reimbursements), and

  • a verified employee bank account* (so the employee can receive reimbursements).

In order for reimbursements to be processed, both accounts must be connected. You may want to remind employees of this (refer them to “Getting help with reimbursements” if needed) and also double-check that your company bank account is connected with your TravelBank account.

Notes

  • Note that time zones matter for the administrative approval deadlines listed in this article. All times are listed in Pacific Time.

  • The dates listed in this article do not account for holidays. Reimbursement dates may change depending on holidays and individual bank policies.

  • If TravelBank learns of an issue with a customer reimbursement, the support team will reach out to the customer directly (not the administrator).

  • Be sure to reach out to TravelBank support or your implementation specialist to get the TravelBank company IDs to ensure that draws can be made on your company funding account.

Fund availability factors

Consider the following factors when projecting fund availability:

  • When banks will route funds between financial institutions: typically Monday through Friday, excluding weekends and holidays.

  • Your company’s subscription model:

    • Paid subscriptions: Reimbursements pay out as soon as they are approved, during the applicable reimbursement schedule.

    • Other subscriptions: Reimbursements are paid to the employee 5 days after they are collected from the employer.

  • Your company’s reimbursement model (see Table 1)

​Table 1. Reimbursement models and time frames

Reimbursement model

Employee reimbursement report submission deadline

Administrative approval deadline

When employees should expect to see reimbursements

Daily

Determined by customer organizational policy

Daily by 6:00 p.m. PDT, or 5:00 p.m. PST

If the approval is completed by the administrative approval deadline: During the business day 1 day after the reimbursements are approved

If the approval is completed after the administrative approval deadline: On the following business day

Twice a month (semi-monthly)

Determined by customer organizational policy

2 business days before the reimbursement date (the 15th or 30th of each month), 6:00 p.m. PDT, or 5:00 p.m. PST

If the approval is completed by the administrative approval deadline: The first or 15th of each month

If the approval is completed after the administrative approval deadline: The following reimbursement period

Monthly

Determined by customer organizational policy

2 business days before the reimbursement date (the 30th of each month), 6:00 p.m. PDT, or 5:00 p.m. PST

If the approval is completed by the administrative approval deadline: Reimbursements are processed monthly on the 1st day of the month.

If the approval is completed after the administrative approval deadline: The following month

*This connection is essential because even if you approve reimbursement reports by the approval deadline, if an employee has not connected and verified their bank account, the employee will not receive a reimbursement, because the reimbursement has nowhere to go—a verified bank account.

Publish date: November 2, 2023

Last update: NA

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