This article will inform you about the time and details of the cash reimbursement process in Spenmo after the Admin or Team Manager approves the request.
Reimbursement Processing Time
For domestic expenses (expenses incurred in dashboard currency), employees who have input their PayNow or Bank Account details will be paid out automatically when “Pay Immediately” is selected by their respective admin or Team Manager. Please note that this feature is only applicable for dashboards that use SGD, IDR, and PHP currencies, and does not apply to dashboards that use USD currency.
For non-domestic expenses (expenses incurred in another currency that needs to be converted to dashboard currency), Spenmo processes reimbursements manually, paying out the funds into the beneficiary’s bank account every Friday. This is applicable only for reimbursements that are transferred to bank accounts. The reimbursement transfer to the bank account is done based on requests that are submitted and approved every week before Friday by 12 PM SGT or 11 AM WIB.
There may be a time gap between when the funds have been deducted from your team balance and when the beneficiary receives their funds, due to the delay between the payment partner and the beneficiary bank.
Please provide a maximum of three working days for the funds to be reflected in their bank account and reach out to firstname.lastname@example.org or your Customer Success Manager if it has not been reflected by then.
Reimbursement Processing Details
Below are the details of the cash reimbursement process for clients that have:
1. Insufficient funds in the respective team balance
Reimbursement will not be processed if your team balance is insufficient. We will be sending out an email reminder to your admin to top up your team balance two Fridays in a row, before the final reminder on the third Friday.
After that, we will monitor your account until your admin has topped up your dashboard before processing your reimbursement. No further reminders will be sent.
Should your team balance have partially sufficient funds for some reimbursement requests, we will process the reimbursement requests according to the date requested from the latest to the earliest within the funds available.
2. Incomplete or incorrect bank account details
Reimbursement requests into a bank account should have complete bank account details. This includes:
- Account Name
- Bank Name
- Bank Account Number
Should any of this information be incomplete or incorrect, an email request to amend your bank account details will be sent from your company’s admin. We will be sending out an email reminder to update your bank account details two Fridays in a row, before the final reminder on the third Friday.
An email request to amend your bank account details will be sent from your company’s Admin.
After that, we will monitor until the bank account details are updated before processing the reimbursement without any further reminders.
Please do not change your payment method on Friday as it will disrupt the reimbursement process.
An example case of changing payment mode:
- Updating your bank account details
- Changing from bank account to PayNow option
If you would like to change the following details on a Friday, kindly reach out to your Customer Success Manager.
Please reach out to email@example.com for any additional assistance required.