How To Start Using Reimbursement (Employees)

Role: ✔ Admin, ✔ Team Manager, ✔ Employee, ✔ Accountant, ✔ Bookkeeper

If you decide to settle your employee Expenses using a Spenmo Payout, any reimbursement done through Spenmo is deducted automatically from your Spenmo Company Wallet and paid out directly to your employee's bank account.

As such, to facilitate a reimbursement payout/settlement process using Spenmo, it is mandatory for employees to link their PayNow or Bank Account details with Spenmo. Employees who haven’t set up their bank account will not be automatically reimbursed. Please note that adding bank accounts can only be done through the desktop app.

Non-Domestic Expenses

For non-domestic expenses (expenses incurred in another currency that need to be converted to dashboard currency), depending on your company policy: 

1. Employees can convert the foreign currency and input domestic currency (e.g. SGD for Singapore) and attach supporting documents (such as a money changer invoice/ bank statement from an employee) as proof of how much domestic currency was being spent. 
2. Employees can input the foreign currency, and Spenmo will be processing such reimbursements using a mid-market FX rate on the settlement date, which is fair for both the company and the employee.
   
   

Adding Your Bank or PayNow Account (for Singapore Users)

1. On your homepage, select ‘Settings’ and click ‘Reimbursements’.  

2. On the ‘Reimbursements’ page, click 'Set a Payout Method'.

3. Under ‘Add Payout Method’, you can link your PayNow or Bank Account details with Spenmo.

Adding Your PayNow Account

1. Under ‘Add Payout Method’, select ‘PayNow’.

2. Under PayNow Identifier Type, you can use either your Mobile Number or National Registration Identity Card (NRIC). 

3. To use your phone number, select ‘Mobile Number’. Enter your phone number and Paynow name.

4. To use your NRIC, select ‘National Registration Identity Card (NRIC)’. Enter your NRIC number and Paynow name.

5. Click 'Save Details' once you have entered all the required information.

6. Your details are now saved! Approved reimbursements will be paid directly to your PayNow.


Adding Your Bank Account

1. Under ‘Add Payout Method’, select ‘Bank Transfer’. Fill in your respective bank details.

2. Do note that the banks listed are based in your country. If the bank you are looking for is not listed, please contact support@spenmo.com for assistance. 

3. Click 'Save Details' once you have entered all the required information. 

4. Your details are now saved! Approved reimbursements will be paid directly to your Bank Account.

5. To change your Reimbursement payout details, click ‘Edit’.

6. To delete the added Payout method, click ‘Delete’.

Note:
Before approving reimbursements for payment, ensure your company wallet has sufficient funds to make the transaction. Reimbursements cannot be processed if your company wallet lacks the funds. Learn how to top-up your wallet here.

Please reach out to support@spenmo.com for any additional assistance required.