How to Get a Business Pre-Paid Card

Many business pre-paid cards allow business owners to customize their cards with their company logos.

Pre-paid credit cards are a flexible, affordable business solution for distributing company funds to employees. Many businesses use them as a customizable alternative to expense accounts. This allows a business to control an employee's business expenditures more precisely than with a traditional credit card. Many pre-paid business cards send e-mail notifications of all purchases made with the card to the primary business owner, reducing employee misuse and theft. Obtaining a business pre-paid card is quick, easy and inexpensive.

Instructions

1. Register for a business account with a pre-paid business credit card provider. MasterCard is one of several major credit card providers that have direct business pre-paid card services, but there are many alternative issuers of pre-paid company credit cards as well. Provide the card issuer with complete, accurate information about your business and its pre-paid card needs and set up your company's privacy and expenditure parameters. You can usually do this on the card issuer's website or over the phone. Ensure that your contact information is complete and up-to-date, so that the card issuer can contact you about purchases made on the card and information about your company account.

2. Obtain one card per employee recipient. Some pre-paid card issuers will charge a small up-front fee for obtaining and customizing the credit card for your company's needs; others may provide them for free. Many pre-paid card providers allow your company to customize the card with your company's name, company logo and the name of your employee.

3. Load the cards with the desired monetary value. A main benefit of a pre-paid card for business is that you can limit how much an employee can spend to the penny. Your employees can use the card like a credit card, but the funds behave like a debit account. Once the funds run out, there is no danger that the account will provide the employee with unapproved access to additional funds.

Tips & Warnings

• Business pre-paid cards have the added advantage of being suitable for direct payroll deposits, if desired, making them much more flexible than traditional business credit cards. Let the card issuer know at the time of your account setup that you'd like to use the cards for payroll deposits as well as business expenses. The card issuer will require you to provide additional information about your payroll accounts at this time.

References

• MasterCard Commercial Prepaid
• BankFreedom Prepaid Business MasterCard FAQs
• Pex Visa Prepaid Business Credit Cards: How It Works
• What Prepaid Card?: Prepaid Payment Cards in Business