Many business owners reach a point at which they need to find credit cards for their businesses. Having the ability to issue cards to your employees so that they can purchase the items that your business needs to continue operating efficiently is important. There are several reasons why you might want to consider a debit MasterCard for business instead of a credit card. These alternatives may save you money, help you to keep track of your expenses and prevent theft and embezzlement by your employees.
When you apply for business credit cards, your credit score will be checked. If you have blemishes in your credit history or your business is new, you may be denied. When a company runs a credit check in connection with your application for credit, it also causes your score to drop slightly. Since debit MasterCards are not credit cards, your credit will not be affected. They can also be used anywhere that MasterCard is accepted. Credit cards often carry high interest rates and annual fees. You can get up to 10 business debit cards from Bento for Business for just $29 per month, and you will not be charged annual fees or interest.
A prevalent issue for businesses is the problem of employee fraud and theft. The debit MasterCards from Bento for Business help you to put a stop to these problems. You deposit money into your account and designate how much each employee can spend on their card. You are also able to designate that only certain purchases can be made with each card. Employees who need to be able to pay the utilities can have cards that are limited to those purchases. Those who need to purchase office supplies can have those limits placed on their cards. You can have other employees who are only able to use their cards to make pay-at-the-pump gas purchases. With the cards, you can rid your business of petty cash systems and reimbursement forms, helping your business to run more efficiently and with a reduced incidence of internal thefts.
Business owners are able to log into their accounts at any time and from anywhere from their computers or mobile devices. When they log in, they will be able to use their personal interactive platforms to see how the funds on the cards are being spent by their employees and what the balances are. Cards can be turned off or on with the click of a button. The spending information can be imported from your account directly into your accounting software, allowing ease of tracking. With these cards, you’ll have a better ability to manage your business expenses.
If you are forced to terminate an employee or one of them quits, you don’t have to worry about trying to recover the card. Since you can instantly turn off a debit MasterCard for business, the employee will be unable to run up a balance in retaliation. The FDIC-insured accounts are protected up to $250,000, and we use the highest level of secure encryption technology available.
Bento for Business offers free 60-day memberships so that you can try the cards out and see if they work for your business. Sign up for a 60-day free trial today or call us at 866.289.1104.
Applying does NOT affect your credit score!*This is not a credit card.
Banking services provided by The Bancorp Bank, Member FDIC. This Card is issued by The Bancorp Bank pursuant to a license from Visa U.S.A Inc. and may be used everywhere Visa® debit cards are accepted.