diff --git a/src/libs/ReportUtils.ts b/src/libs/ReportUtils.ts
index dd0e2e0239dc..8b0788066630 100644
--- a/src/libs/ReportUtils.ts
+++ b/src/libs/ReportUtils.ts
@@ -29,6 +29,7 @@ import type {Route} from '@src/ROUTES';
 import ROUTES from '@src/ROUTES';
 import SCREENS from '@src/SCREENS';
 import type {
+    BankAccountList,
     Beta,
     IntroSelected,
     NewGroupChatDraft,
@@ -9838,7 +9839,12 @@ function isAllowedToSubmitDraftExpenseReport(report: OnyxEntry<Report>): boolean
 /**
  * What missing payment method does this report action indicate, if any?
  */
-function getIndicatedMissingPaymentMethod(userWalletTierName: string | undefined, reportId: string | undefined, reportAction: ReportAction): MissingPaymentMethod | undefined {
+function getIndicatedMissingPaymentMethod(
+    userWalletTierName: string | undefined,
+    reportId: string | undefined,
+    reportAction: ReportAction,
+    bankAccountList: OnyxEntry<BankAccountList>,
+): MissingPaymentMethod | undefined {
     const isSubmitterOfUnsettledReport = reportId && isCurrentUserSubmitter(getReport(reportId, allReports)) && !isSettled(reportId);
     if (!reportId || !isSubmitterOfUnsettledReport || !isReimbursementQueuedAction(reportAction)) {
         return undefined;
@@ -9848,17 +9854,17 @@ function getIndicatedMissingPaymentMethod(userWalletTierName: string | undefined
         return !userWalletTierName || userWalletTierName === CONST.WALLET.TIER_NAME.SILVER ? 'wallet' : undefined;
     }
 
-    return !hasCreditBankAccount() ? 'bankAccount' : undefined;
+    return !hasCreditBankAccount(bankAccountList) ? 'bankAccount' : undefined;
 }
 
 /**
  * Checks if report chat contains missing payment method
  */
-function hasMissingPaymentMethod(userWalletTierName: string | undefined, iouReportID: string | undefined): boolean {
+function hasMissingPaymentMethod(userWalletTierName: string | undefined, iouReportID: string | undefined, bankAccountList: OnyxEntry<BankAccountList>): boolean {
     const reportActions = allReportActions?.[`${ONYXKEYS.COLLECTION.REPORT_ACTIONS}${iouReportID}`] ?? {};
     return Object.values(reportActions)
         .filter(Boolean)
-        .some((action) => getIndicatedMissingPaymentMethod(userWalletTierName, iouReportID, action) !== undefined);
+        .some((action) => getIndicatedMissingPaymentMethod(userWalletTierName, iouReportID, action, bankAccountList) !== undefined);
 }
 
 /**
diff --git a/src/libs/actions/ReimbursementAccount/store.ts b/src/libs/actions/ReimbursementAccount/store.ts
index bc298313ad1e..a92778fc50a3 100644
--- a/src/libs/actions/ReimbursementAccount/store.ts
+++ b/src/libs/actions/ReimbursementAccount/store.ts
@@ -1,18 +1,8 @@
 import type {OnyxEntry} from 'react-native-onyx';
-import Onyx from 'react-native-onyx';
 import BankAccount from '@libs/models/BankAccount';
-import ONYXKEYS from '@src/ONYXKEYS';
 import type * as OnyxTypes from '@src/types/onyx';
 
-let bankAccountList: OnyxEntry<OnyxTypes.BankAccountList>;
-Onyx.connect({
-    key: ONYXKEYS.BANK_ACCOUNT_LIST,
-    callback: (val) => {
-        bankAccountList = val;
-    },
-});
-
-function hasCreditBankAccount(): boolean {
+function hasCreditBankAccount(bankAccountList: OnyxEntry<OnyxTypes.BankAccountList>): boolean {
     if (!bankAccountList) {
         return false;
     }
diff --git a/src/pages/home/report/ReportActionItem.tsx b/src/pages/home/report/ReportActionItem.tsx
index 5223b8ba2077..bad05ffd94b2 100644
--- a/src/pages/home/report/ReportActionItem.tsx
+++ b/src/pages/home/report/ReportActionItem.tsx
@@ -96,12 +96,13 @@ function ReportActionItem({
     const [currentUserAccountID] = useOnyx(ONYXKEYS.SESSION, {canBeMissing: false, selector: (session) => session?.accountID});
     const iouReport = allReports?.[`${ONYXKEYS.COLLECTION.REPORT}${getIOUReportIDFromReportActionPreview(action)}`];
     const policy = policies?.[`${ONYXKEYS.COLLECTION.POLICY}${report?.policyID}`];
+    const [bankAccountList] = useOnyx(ONYXKEYS.BANK_ACCOUNT_LIST, {canBeMissing: true});
     // The app would crash due to subscribing to the entire report collection if parentReportID is an empty string. So we should have a fallback ID here.
     // eslint-disable-next-line @typescript-eslint/prefer-nullish-coalescing
     const parentReport = allReports?.[`${ONYXKEYS.COLLECTION.REPORT}${report?.parentReportID || undefined}`];
     const blockedFromConcierge = useBlockedFromConcierge();
     const targetReport = isChatThread(report) ? parentReport : report;
-    const missingPaymentMethod = getIndicatedMissingPaymentMethod(userWalletTierName, targetReport?.reportID, action);
+    const missingPaymentMethod = getIndicatedMissingPaymentMethod(userWalletTierName, targetReport?.reportID, action, bankAccountList);
 
     const taskReport = originalMessage && 'taskReportID' in originalMessage ? allReports?.[`${ONYXKEYS.COLLECTION.REPORT}${originalMessage.taskReportID}`] : undefined;
     const linkedReport = originalMessage && 'linkedReportID' in originalMessage ? allReports?.[`${ONYXKEYS.COLLECTION.REPORT}${originalMessage.linkedReportID}`] : undefined;
diff --git a/tests/unit/ReimbursementAccountTest.ts b/tests/unit/ReimbursementAccountTest.ts
new file mode 100644
index 000000000000..cf9babd2af29
--- /dev/null
+++ b/tests/unit/ReimbursementAccountTest.ts
@@ -0,0 +1,33 @@
+import {hasCreditBankAccount} from '@src/libs/actions/ReimbursementAccount/store';
+import type {BankAccountList} from '@src/types/onyx';
+
+describe('ReimbursementAccountTest', () => {
+    describe('hasCreditBankAccount', () => {
+        it('should return true if there is a credit bank account', () => {
+            const BANK_ACCOUNT_LIST: BankAccountList = {
+                // eslint-disable-next-line @typescript-eslint/naming-convention
+                '1': {accountData: {defaultCredit: true}, bankCurrency: 'USD', bankCountry: 'US'},
+                // eslint-disable-next-line @typescript-eslint/naming-convention
+                '2': {accountData: {defaultCredit: false}, bankCurrency: 'USD', bankCountry: 'US'},
+            };
+
+            const result = hasCreditBankAccount(BANK_ACCOUNT_LIST);
+            expect(result).toBe(true);
+        });
+
+        it('should return false if there is no credit bank account', () => {
+            const BANK_ACCOUNT_LIST: BankAccountList = {
+                // eslint-disable-next-line @typescript-eslint/naming-convention
+                '1': {accountData: {defaultCredit: false}, bankCurrency: 'USD', bankCountry: 'US'},
+            };
+
+            const result = hasCreditBankAccount(BANK_ACCOUNT_LIST);
+            expect(result).toBe(false);
+        });
+
+        it('should return false if there is no bank account list', () => {
+            const result = hasCreditBankAccount(undefined);
+            expect(result).toBe(false);
+        });
+    });
+});