Bento For Business

What is a visa debit card

What is a Visa debit card?

The definition of a Visa debit card is a card that is branded as a Visa. It contains a card number and a CVV code, but it is not a credit card. Instead, it is linked to a deposit account. When purchases are made with the card, the transactions are subtracted from the funds in the deposit account.

A debit Visa card can be used to make purchases from any merchant that accepts Visa. There are more than 471 million debit cards that are branded as Visas in the U.S. and 1.09 billion worldwide. Visa is the leading card brand in the U.S. and most
merchants accept Visa for purchases.

Visa debit cards are different from Visa prepaid debit cards and prepaid Visa debit cards. Prepaid cards have funds loaded directly onto the cards that serve as the balances. Debit cards are linked to deposit accounts, and purchases are subtracted from the account balances.

Who uses debit Visa cards?

Debit Visa cards are used by both consumers and businesses. Consumers may receive debit cards that are branded as Visas from the banks that hold their checking accounts. When they use them to make purchases, the debit Visa cards act like electronic checks and automatically subtract the transaction costs from their checking account balances.

Businesses also use business Visa debit cards. A debit card for business may have additional features that are designed specifically for business needs such as added security features and expense management controls. These additional features can help businesses to get control of their business expenses and to reduce losses.

Help improve your business’s security

Some business Visa debit card providers offer Visas card that can help improve your business’s security in multiple ways. The cards use a highly secure 256-bit SSL encryption technology to keep your information away from the prying eyes of thieves. When you choose debit cards, you also have the additional protection of the FDIC. Deposits are insured by up to $250,000 through the FDIC.

Visa offers multiple payment controls for businesses. Visa has a zero liability policy that protects businesses from employee misuse when the employee is ultimately terminated. Covered transactions include those that occur within 75 days of the employee’s termination or up to 14 days after Visa is notified about the termination. In addition, some card issuers offer Visas that also have additional expense control and management features.

You won’t need to micromanage your employees with Visa cards

Some debit cards come with the ability to control business expenses. These visa debit cards let businesses place restrictions on the cards in line with their expense policies.

Business owners can limit where their employees can use the cards that they are given. They can also set different spending limits on different cards, according to the needs of their employees. For example, a business owner might give an employee who drives for a living a card that can be used to purchase gasoline at a certain chain of stores with a daily spending limit of $50. A different employee who needs to purchase toner for the printer and paper can be given a card that restricts him to making purchases from a preferred office supply vendor with a weekly spending limit of $100.

Other controls can include the ability to turn cards on or off remotely. A business owner might choose to turn a card off when an employee is off of the clock and to turn it back on when he or she returns to work.

Set or change spending limits on the go

Some business Visa debit cards also let business owners to set spending limits or to change them at any time. Business owners can view the spending on each card via a real-time dashboard. Individual cards can be turned on or off with a tap of a button 24 hours per day.

The online dashboard also allows business owners to check Visa debit card balance whenever they want. They can then add additional funds if they want or decide to make budgetary adjustments based on the information that they can see. Depending on the Visa debit card balance, employers can take action if the funds are being depleted too quickly.

Debit cards that are branded as Visas work great for businesses large and small

Visa cards that are debit cards can benefit businesses regardless of their size. For example, a coffee shop owner might give an employee a card that he or she can use to purchase pastries from the local bakery to sell in the store. The manager might be given a card that he or she can use to order paper coffee cups and stir sticks from a favorite supplier.

A transportation company with a fleet of 100 trucks can also benefit from business debit cards. The fleet manager can distribute the cards to the drivers after restricting their use to gas purchases at specific stations. The drivers won’t have to spend their own money and request reimbursements, and the fleet manager can keep better track of the fuel costs and transportation expenses incurred by each employee.

Visa credit cards vs. debit cards

Visa credit and debit cards have several important differences, and each type of card has advantages an disadvantages. Visa credit cards require applicants to submit to credit checks. When the applicants are businesses, the card issuers will likely want a guarantee from the business owners and check both the businesses’ credit as well as the credit of the owners.

Purchases that are made with credit cards are routed to the revolving lines of credit that are attached to the cards. If the cardholder carries a balance over from month to month, they will be assessed interest.

The definition of a Visa debit card is a card that is associated with a deposit account rather than with a line of credit. Debit cards are not credit cards, so they don’t require credit checks. Purchases that are completed with debit cards are subtracted from the deposit account’s balance rather than adding to the debt. However, debit cards will not provide credit to cardholders to get them through times when they might have cash flow shortages.

Visa credit card controls

While Visa credit cards can help businesses to keep personal and business expenses separate, they do not offer the same level of control that some reloadable Visa debit cards offer. Some business debit cards offer built-in features that provide substantial expense management benefits.

Business debit cards may allow you to restrict the ways in which your employees can use them. You can set controls on the cards to limit where they can be used. You can also restrict them by the types of purchases that are authorized and restrict the cards from being used at certain times such as when your employees are not working.

You can also set total limits by deciding how much money to make available on each card and individual spending limits by the day. Finally, debit cards can be turned off or on whenever you want from your smartphone, tablet, or computer.

How Visa cards can be generated in multiple ways

It is possible to generate Visa cards for your business, and you can do so in multiple ways. You can use a dashboard on your phone, tablet, or computer by using an application. Your card issuer will then issue the cards that you need.

Another way to generate Visa cards is by using a Visa debit card API. This is an application programming interface that you can get from your card issuer. A developer can then integrate it with your applications so that you can generate the cards that you need from within your proprietary programs and software applications.

What is a Visa debit card API?

An application programming interface allows the different parts of programs to communicate with each other. They work with any type of application and allow developers to create applications that give business the same controls that card suppliers have in their programs.

An API can allow you to create custom workflows. For example, you can use an API to automate many of the accounts payable processes at your company so that you can save time and labor costs that would otherwise be spent. You can also use an API to integrate your cards with your software applications so that data from them will be imported directly into the correct expense categories.

Different types of virtual cards

Virtual cards are not made out of plastic. Instead, they are random credit card numbers and CVV codes that represent an underlying debit card but that don’t allow others to access the associated account. When a purchase is made with a virtual card, the cost is routed through the underlying debit card and to the associated account.

There are several types of virtual cards that can meet different business needs, including the following:

Virtual card numbers are one-use and expire as soon as they are used. P-cards can be generated and given to a select group of employees. The workers can then use the cards to make payments or purchases for the company over a set period of time. Ghost cards are used by larger companies and are numbers that can be assigned to different departments or to high-volume suppliers. These cards provide an added layer of security to businesses, and they help to improve expense tracking.

How Visa debit cards can help to reduce the risk of fraud

Fraud is a serious problem for businesses and costs companies millions of dollars every year. Visa debit cards are a tool that can help to reduce the risk of fraud because of the expense control features. You are able to restrict when the cards will work, where they can be used, and how much can be spent by the day or the week. You can also turn individual cards off instantly by tapping the screen of your smartphone.

Debit cards also help to increase the transparency of the spending that occurs. You can sign into your dashboard and see all of the transactions that occur in real time. If you identify an issue, you can turn a card off until you have a chance to address the problem directly with your employee.

Security of Visa debit cards

Reloadable Visa debit cards are highly secure. Visa is the largest card processor in the U.S. and offers its own security features in addition to the controls that you might receive from your card supplier.

For businesses that use Visa cards, Visa offers zero liability protection. This protects businesses from card misuse by employees who the businesses ultimately fire. Transactions that are eligible for this protection are those made by the employees within 75 days leading up to their termination as well as those that drop in within two weeks after they are fired.

Why debit cards are better than traditional payment alternatives

Debit cards are better than traditional payment alternatives such as cash or checks. When businesses have petty cash funds for employees to use for small purchases, it is difficult to track the spending. Employees might also be tempted to take small amounts of cash for their own use.

Checks also may be problematic for companies. Some employees may commit check fraud and write checks to themselves or to cash. Debit cards make the spending transparent and help to eliminate these common types of fraud.

Where can I get a Visa debit card for my business?

You can get business debit Visa cards from card suppliers that focus on meeting the needs of businesses. Some suppliers offer more controls than others. You should look online to find the offers that are available. When you identify a few offers, make sure to read the fine print so that you understand the costs and fees that might be associated with the cards.

Look for a debit card Visa that offer extensive expense management features. Ideally, the cards that you choose should give you the ability to set restrictions that help to control your business expenses and to prevent unauthorized purchases.

Features of business Visa debit cards

The Bento for Business Visa cards are debit cards that allow businesses to set restrictions that can help them to control spending. Business owners are able to restrict individual cards so that they can only be used for purchases from specific vendors or suppliers. Business owners can set different individual spending limits on each card to match the needs of their employees’ jobs.

The cards can be turned off or on 24 hours per day from your phone, and businesses can see the spending that occurs in real time from their dashboards. Businesses can also use a Visa debit card API to generate virtual cards for secure remote transactions and better expense tracking.

The business debit cards have earned excellent reviews on sites such as Capterra, Trust Pilot, and the company has an A+ rating from the Better Business Bureau

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Elizabeth S
Elizabeth S
Executive Director Certified Prevention Specialist II
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Bento gives our small nonprofit the flexibility of credit cards for employees without having to open a credit line. I can control spending amounts and expenditures purchased in the time it takes to log in to the app on my cell phone. I was at a conference when I need to have something printed in the business center. An employee when to the business center and had to purchase the copies. In the time it took them to cross the event venue, I was able to turn on their card, give specific permission for the expense all before she completed the printing job and had to pay. Bento also provides better fraud protection than our local bank provides.
Erica P
Erica P
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"I love that bento provides a free plan allowing small businesses a way to track their expenses without paying a monthly fee. I love how much time I'm saving by not having to look through employees crumpled up receipts."
Laura W
Laura W
Office Manager
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I like that the card auto reloads. It's easy to manage online. I feel comfortable leaving this in our company trucks since I can "turn it off" online. Another feature that I appreciate is that the transactions show up immediately after purchase. I love that the service is free with up to 2 cards. The card is also a versatile card to give to a new employee. This card is also flexible because I can give it to multiple employees depending on who is working. The card is not tied to one person. Another nice feature is being able to log on at any time and add funds to the card. If I know that an employee will be making a large purchase, I can reload for a more considerable amount.
Cedarhurst M
Cedarhurst M
Community Manager
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The ability to scan my receipts to the site directly from my phone is a very helpful feature.
Gaby S
Gaby S
Owner and Principal
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The ease of knowing the employees have the funding for business expenses and I do not have to worry about expense reports... Easy does it syncing to QBO!