diff --git a/src/libs/actions/BankAccounts.ts b/src/libs/actions/BankAccounts.ts
index 6e718b1bde343..a7b4f6703f8fc 100644
--- a/src/libs/actions/BankAccounts.ts
+++ b/src/libs/actions/BankAccounts.ts
@@ -22,7 +22,7 @@ import type {Route} from '@src/ROUTES';
 import type {PersonalBankAccountForm} from '@src/types/form';
 import type {ACHContractStepProps, BeneficialOwnersStepProps, CompanyStepProps, RequestorStepProps} from '@src/types/form/ReimbursementAccountForm';
 import type PlaidBankAccount from '@src/types/onyx/PlaidBankAccount';
-import type {BankAccountStep, BankAccountSubStep} from '@src/types/onyx/ReimbursementAccount';
+import type {BankAccountStep, ReimbursementAccountStep, ReimbursementAccountSubStep} from '@src/types/onyx/ReimbursementAccount';
 import type {OnyxData} from '@src/types/onyx/Request';
 import * as ReimbursementAccount from './ReimbursementAccount';
 
@@ -40,10 +40,6 @@ export {
 export {openPlaidBankAccountSelector, openPlaidBankLogin} from './Plaid';
 export {openOnfidoFlow, answerQuestionsForWallet, verifyIdentity, acceptWalletTerms} from './Wallet';
 
-type ReimbursementAccountStep = BankAccountStep | '';
-
-type ReimbursementAccountSubStep = BankAccountSubStep | '';
-
 type AccountFormValues = typeof ONYXKEYS.FORMS.PERSONAL_BANK_ACCOUNT_FORM | typeof ONYXKEYS.FORMS.REIMBURSEMENT_ACCOUNT_FORM;
 
 type BusinessAddress = {
diff --git a/src/libs/actions/Policy/Policy.ts b/src/libs/actions/Policy/Policy.ts
index 753428e4a6df0..b14e5d0ae3ce4 100644
--- a/src/libs/actions/Policy/Policy.ts
+++ b/src/libs/actions/Policy/Policy.ts
@@ -2591,6 +2591,26 @@ function createWorkspaceFromIOUPayment(iouReport: OnyxEntry<Report>): WorkspaceF
         value: {[movedReportAction.reportActionID]: null},
     });
 
+    // We know that this new workspace has no BankAccount yet, so we can set
+    // the reimbursement account to be immediately in the setup state for a new bank account:
+    optimisticData.push({
+        onyxMethod: Onyx.METHOD.MERGE,
+        key: `${ONYXKEYS.REIMBURSEMENT_ACCOUNT}`,
+        value: {
+            isLoading: false,
+            achData: {
+                currentStep: CONST.BANK_ACCOUNT.STEP.BANK_ACCOUNT,
+                policyID,
+                subStep: '',
+            },
+        },
+    });
+    failureData.push({
+        onyxMethod: Onyx.METHOD.SET,
+        key: `${ONYXKEYS.REIMBURSEMENT_ACCOUNT}`,
+        value: CONST.REIMBURSEMENT_ACCOUNT.DEFAULT_DATA,
+    });
+
     const params: CreateWorkspaceFromIOUPaymentParams = {
         policyID,
         announceChatReportID,
diff --git a/src/pages/ReimbursementAccount/ReimbursementAccountPage.tsx b/src/pages/ReimbursementAccount/ReimbursementAccountPage.tsx
index 9bbe9f5adbc48..4b42aff1fc1d5 100644
--- a/src/pages/ReimbursementAccount/ReimbursementAccountPage.tsx
+++ b/src/pages/ReimbursementAccount/ReimbursementAccountPage.tsx
@@ -31,7 +31,7 @@ import ROUTES from '@src/ROUTES';
 import type SCREENS from '@src/SCREENS';
 import type {InputID} from '@src/types/form/ReimbursementAccountForm';
 import type * as OnyxTypes from '@src/types/onyx';
-import type {ACHData, BankAccountStep as TBankAccountStep} from '@src/types/onyx/ReimbursementAccount';
+import type {ACHDataReimbursementAccount, BankAccountStep as TBankAccountStep} from '@src/types/onyx/ReimbursementAccount';
 import {isEmptyObject} from '@src/types/utils/EmptyObject';
 import ACHContractStep from './ACHContractStep';
 import BankAccountStep from './BankAccountStep';
@@ -144,7 +144,7 @@ function ReimbursementAccountPage({
     */
     const achData = reimbursementAccount?.achData;
 
-    function getBankAccountFields<T extends InputID>(fieldNames: T[]): Pick<ACHData, T> {
+    function getBankAccountFields<T extends InputID>(fieldNames: T[]): Pick<ACHDataReimbursementAccount, T> {
         return {
             ...lodashPick(reimbursementAccount?.achData, ...fieldNames),
         };
@@ -199,14 +199,20 @@ function ReimbursementAccountPage({
     /**
         When this page is first opened, `reimbursementAccount` prop might not yet be fully loaded from Onyx.
         Calculating `shouldShowContinueSetupButton` immediately on initial render doesn't make sense as
-        it relies on complete data. Thus, we should wait to calculate it until we have received
+        it relies on incomplete data. Thus, we should wait to calculate it until we have received
         the full `reimbursementAccount` data from the server. This logic is handled within the useEffect hook,
         which acts similarly to `componentDidUpdate` when the `reimbursementAccount` dependency changes.
      */
     const [hasACHDataBeenLoaded, setHasACHDataBeenLoaded] = useState(reimbursementAccount !== CONST.REIMBURSEMENT_ACCOUNT.DEFAULT_DATA);
 
     const [shouldShowContinueSetupButton, setShouldShowContinueSetupButton] = useState(hasACHDataBeenLoaded ? getShouldShowContinueSetupButtonInitialValue() : false);
-    const [isReimbursementAccountLoading, setIsReimbursementAccountLoading] = useState(true);
+    const [isReimbursementAccountLoading, setIsReimbursementAccountLoading] = useState(() => {
+        // By default return true (loading), if there are already loaded data we can skip the loading state
+        if (hasACHDataBeenLoaded && typeof reimbursementAccount?.isLoading === 'boolean' && !reimbursementAccount?.isLoading) {
+            return false;
+        }
+        return true;
+    });
 
     // eslint-disable-next-line  @typescript-eslint/prefer-nullish-coalescing
     const currentStep = achData?.currentStep || CONST.BANK_ACCOUNT.STEP.BANK_ACCOUNT;
@@ -238,6 +244,10 @@ function ReimbursementAccountPage({
     }
 
     useEffect(() => {
+        if (!isReimbursementAccountLoading) {
+            return;
+        }
+
         // If the step to open is empty, we want to clear the sub step, so the connect option view is shown to the user
         const isStepToOpenEmpty = getStepToOpenFromRouteParams(route) === '';
         if (isStepToOpenEmpty) {
diff --git a/src/types/onyx/ReimbursementAccount.ts b/src/types/onyx/ReimbursementAccount.ts
index 2322f6faab179..186b3e6ad05bf 100644
--- a/src/types/onyx/ReimbursementAccount.ts
+++ b/src/types/onyx/ReimbursementAccount.ts
@@ -49,6 +49,21 @@ type ACHData = Partial<BeneficialOwnersStepProps & CompanyStepProps & RequestorS
     plaidAccountID?: string;
 };
 
+/** The step in an reimbursement account's ach data */
+type ReimbursementAccountStep = BankAccountStep | '';
+
+/** The sub step in an reimbursement account's ach data */
+type ReimbursementAccountSubStep = BankAccountSubStep | '';
+
+/** The ACHData for an reimbursement account */
+type ACHDataReimbursementAccount = Omit<ACHData, 'subStep' | 'currentStep'> & {
+    /** Step of the setup flow that we are on. Determines which view is presented. */
+    currentStep?: ReimbursementAccountStep;
+
+    /** Optional subStep we would like the user to start back on */
+    subStep?: ReimbursementAccountSubStep;
+};
+
 /** Model of reimbursement account data */
 type ReimbursementAccount = OnyxCommon.OnyxValueWithOfflineFeedback<{
     /** Whether we are loading the data via the API */
@@ -58,7 +73,7 @@ type ReimbursementAccount = OnyxCommon.OnyxValueWithOfflineFeedback<{
     throttledDate?: string;
 
     /** Additional data for the account in setup */
-    achData?: ACHData;
+    achData?: ACHDataReimbursementAccount;
 
     /** Disable validation button if max attempts exceeded */
     maxAttemptsReached?: boolean;
@@ -80,4 +95,4 @@ type ReimbursementAccount = OnyxCommon.OnyxValueWithOfflineFeedback<{
 }>;
 
 export default ReimbursementAccount;
-export type {BankAccountStep, BankAccountSubStep, ACHData};
+export type {BankAccountStep, BankAccountSubStep, ACHData, ReimbursementAccountStep, ReimbursementAccountSubStep, ACHDataReimbursementAccount};