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
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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