Business owners are increasingly relying on corporate credit cards to make purchases for their companies. Small business owners may have a difficult time gaining approval for traditional corporate credit cards, however. There is an alternative that can offer the flexibility that small businesses owners need so that they can spend money, maximize profits and reduce losses. MasterCard debit cards from Bento for Business allow small business owners to enjoy all of the versatility of corporate credit cards while saving money.
The MasterCard debit cards are prepaid so that you do not have to apply based on your credit or the credit of your company. Companies that are new may have trouble getting approved for corporate credit cards, but they can be approved for the MasterCard debit cards at Bento for Business. Unlike credit cards, these cards do not carry high interest or large annual fees. You simply pay a low monthly cost for the cards, and you can start with up to 10 for as low as $29 per month.
When you begin, you fund your account with as much money as you wish. You can then determine how much money to place on each card. You can define the types of purchases that your individual employees can make, giving you purchase-level controls. If your employees try to use their cards to purchase something outside of the predefined categories, the transactions will be returned as declined instantly. This feature can help you to prevent employee fraud and theft.
Your MasterCard prepaid cards can be assigned according to your employees’ individual jobs. A worker who frequently travels might be given a card that he or she can use for gas purchases while not being able to make any other purchases. You can also give your inventory manager a card with which he or she may make purchases of new inventory from your suppliers. You can designate the spending categories on each card according to the expense categories in your accounting software. When it is time to do your quarterly or annual taxes, you will find that it is much easier because the data from your cards can be imported directly into your accounting software.
Bento for Business uses the same type of SSL encryption technology that major banks use. This helps to protect your money and your financial information out of the hands of would-be hackers. Your deposits are insured up to $250,000 by the FDIC so that your money will be safe. If employees have to be terminated or suddenly quit, you can turn off their cards instantly by clicking a button on your mobile device or laptop. This feature allows you to keep them from buying anything else while obviating the need to try to get the cards back from them.
Bento for Business offers businesses the ability to try out our prepaid MasterCards during free 60-day trials. Sign up for a 60-day free trial today or call us at 866.289.1104 if you have questions.
Applying does NOT affect your credit score!