Expenses are reimbursed via ACH (Automated Clearing House) transfer. The full lifecycle of a debit and credit can take up to 8 business days.
Once an expense is approved by an admin, the reimbursement process is automatically triggered. At the end of each day, SVB T&E makes a batch withdrawal (debit) on the company bank account for the sum of all approved expenses from that day. This sum is transferred into an escrow account and can take up to 6 business days to fully settle.
Once settled, the funds are automatically transferred (credited) into the bank accounts of the employees who submitted the corresponding expenses. If an employee has more than one expense approved on the same day, he or she will receive one payment for the sum of those approved expenses. The transfer to the employee’s bank account takes 1-2 business days.