Best Business Prepaid Cards & Debit Cards

In essence, a prepaid debit card resembles paper currency in the form of a plastic card. Unlike credit cards, however, a prepaid debit card is not associated with your saving account, and the only funds accessible through it are those you have loaded on to it. Consequently, different projects or employees can be given different cards, ensuring that any payment or transaction carried out by other staff members is visible and can be easily supervised. Additionally, your bank account details will not change hands in an unsupervised manner. Furthermore, with a prepaid debit card your credit history is irrelevant. In fact, anyone over the age of 18 can apply and receive a prepaid debit card. One final advantage is that by using a prepaid debit card, you can guarantee that your business will not be affected by any credit bills or unwanted debts.

What are the features of the best reloadable prepaid debit card for corporates?

There are different reloadable debitcard providers in the market nowadays, and it is important to take the time in order to choose the one that suits your business best. For small businesses, for example, there are providers that offer the first cards free of cost. The approval process of the best reloadable debit cards is instantaneous and the card is received within no more than 7-10 business days; no personal check credit is necessary. Some providers issue cards with unlimited maximum balance while others allow a daily upload of up to 20,000 USD; funds can be conveniently uploaded via direct deposit, using a check, wire transfer or through an actual reload station. If your business is large, it is advisable to go with a provider that does not limit the number or reloadable cards it can issue, yet limits the daily spend of each card, allowing you to control your employee’s expenses.

The best business debit cards for startups

Even when full-funded, small new businesses and start-ups require an abundance of resources. Too often, applying for a credit card is a laborious and sometimes unsuccessful task. A prepaid debit card, however, is the best business debit card for small businesses, with no credit involved.

First, a prepaid debit card requires not credit checks. Yet its most significant advantage for small businesses is that it enables company owners to manage employee spending. Daily spending limits can be set for each card or employee and those can be changed according to the company’s fluctuating needs and requirements. Additionally, there are providers who do not charge an annual or employee card fee, and some providers assist you in funding your business by earning you 5% cash back on all sorts of business supply and services. All the above make the prepaid debit card the ultimate card for small businesses!

Load prepaid card with bank account

Banks that offer prepaid debit cards allows you to transfer funds from a checking account in order to reload your prepaid debit card. In one of the easiest and most straightforward ways, you can load your prepaid debit card with a simple electronic transfer, using your bank’s website; transfers are fast and takes up to 3 business days. With just one click, using your bank account number and the routing number that is associated with your card, you create an external account that is associated with your debit card – and to which money will be eventually transferred. For safety reasons, some providers only allow transfers that are linked to your own bank account. Other providers, however, allow you to reload your debit card using transfers from authorized accounts of family members, friends or business associates. While there is no reload fee on such transfers, your bank can indeed charge you for the service.

How to Apply for a Reloadable Business Debit Card online?

A reloadable debit card is a fantastic solution for business owners who are interested in monitoring their business’ finances while using their credit cards for different purposes, by different company members or employees and in various transactions. In order to apply for a reloadable business debit card, you must begin by opening a business bank account. Often, this process can be carried out online. Depending on the structure of your business, you will be asked to provide the suitable information, such as Social Security Number or Business Tax Identification Number; Business License specifying both business and owner’s name; Business name filing document, etc. Note that since there are plenty fishing websites online, it is highly important to ascertain that you are in the right place. Once these forms are filled and submitted, either the bank or company that issues the debit card will review the data, and, assuming your request has been approved, will automatically send the reloadable business debit card within 6-9 business days

Small business credit cards for new businesses

There is no doubt that a prepaid credit card is the best business credit card a small business can have. A prepaid, or reloadable, business card enables new business owners to supervise their business’ financial affairs in a most efficient way, refuting the risk of running into major credit debts. First, and most importantly, a prepaid debit card only enables its user to employ funds that were ‘uploaded’ to the card. In other words, the debit card is by no means affiliated with the business’ checking account. Second, most providers do not charge an annual or employee card fee. This enables business owners to request several debit cards, providing each employee or key-member of the company with a different card for tracking the employee’s expenses. Since each card can be designated with a different spending limit, thus guaranteeing that employees conduct themselves within their designated budget, a small business owner can efficiently monitor all transactions and make sure that there are no deviations or credit debts that are accumulating.

Debit cards are an easy and convenient way for businesses to manage their purchases. With a variety of debit card accounts to choose from, its easy to begin using debit cards for your company.

One type of debit card that you should consider using is the pre-paid debit card. You can load your employees’ pre-paid debit cards with a specific balance. This adds an extra layer of control over how your company spends money.

More and more businesses are turning to pre-paid debit cards due to the many benefits they offer. Some of the main benefits include:

Financial protection – with credit cards, there is always the risk of theft, which can endanger your finances and ruin your credit. By using pre-paid cards, you determine how much money can be accessed thereby reducing the negative impacts of potential theft. Plus, there is no risk of damaging your credit because pre-paid debit cards are not linked to your credit profile.

Easy to obtain – Getting pre-paid cards for your business is very simple. Since there are no credit limits, it is easier to get approved. You can also have the option of issuing each employee a personal card, or just having a general card with which any employee can make purchases.

Adjust limits as needed – The fact that it’s easy to adjust the limits on pre-paid cards is a big benefit to employers. As a business owner, you can decide how much to add to each employee’s card and avoid overspending. With a limit on their funds, your employees will be more careful when making purchases.

Review your spending easily – Most pre-paid debit cards providers allow you to easily review your company’s spending via weekly or monthly reports. Analyze how your employees are spending and improve your budgeting by increasing or decreasing allowances.

Pre-paid debit cards that were issued from your bank allow you to reload your cards directly from your account. Transferring money from your checking account to your debit cards is quick and convenient. You can usually complete the transfer from your bank’s website.

You can also create a separate account that is linked to your pre-paid debit cards. All you need is your debit card routing number and a bank account number to set up an account dedicated to your pre-paid cards.

While some pre-paid debit card providers require your bank account to make transfers, other provider allow other accounts to transfer funds to your pre-paid cards. In some cases, you might want family members or business associates to load your pre-paid debit cards. Make sure to find out if there are any loading fees for transfers from outside accounts.

It’s easy to see why many businesses are ditching credit cards and moving to pre-paid debit cards. Control your finances and save more money by making the switch to pre-paid debit cards for your business.