Business Prepaid Credit Card Account - Free Prepaid Bank Card
Cashplus Business Prepaid Card Account is subject to terms and conditions including applicant providing acceptable ID, being a resident in the UK & aged 18 years+. Prepaid Card & usage fees apply.
Corporate Currency Cards by Caxton FX - Preload your card with currency, subject to terms and conditions including applicant providing acceptable ID, being a resident in the UK & aged 18 years+. Travel Card & usage fees apply.
3 months Free then £2.00 per user per month
Business Prepaid Card Account
What is a Business Prepaid Card?
A business prepaid card is the perfect solution to any business owner's needs. A decent prepaid business card program will offer an individual or entity the ability to manage payroll, startup expenses, and many other important business costs. It is a great prepaid opportunity for business owners with multiple employees, an individual who is looking to start a side company, or anyone who wants to grow and expand their business opportunities.
How Can One Open a Prepaid Business Card Account?
Applying for a prepaid business card is simple, and the process of getting approved depends on the individual's bank. However, a typical process includes proof of a business plan as well as a quick credit check. After becoming approved, a certain amount of prepaid funds will drop into the card, allowing the business owner to manage their company's expenses at their own will.
What are the Pros and Cons of this Currency Card?
Business prepaid cards have the advantage as they are typically much cheaper to open than a traditional credit card. However, they cannot be used in as many locations as a credit card, and can often only be used by one cardholder.
Why Should a Business Use a Prepaid Card?
When it comes down to it, there is a very simple reason why any business owner should use a business prepaid card: Control. This card gives owners the power to manage and oversee everything that happens with their company financially.
Are There Any Fees to a Business Prepaid Card?
The answer to this question depends on the banking institution. Some cards have associated monthly or annual fees, while others have no annual fees. There may or may not be an activation fee for the card as well.
How Can a Business Prepaid Card Save Money?
A business prepaid card can save money as there is typically no minimum balance required for the card. Also, the individual is in total control over how much money is put on the card, and who can have access to it. It cuts costs of managing multiple credit cards with varying interest rates, and it localizes all control of finances to keep away from extra taxes or expenses.
Business Pay as you go Card Account
Can Money Be Transferred from One Account to Another?
Some bank account owners will allow transfers from one account to another account of the same type. This is a great way to move money around locally without being charged an extra fee.
Can Money Be Transferred from a Bank Account to a Business Prepaid Card?
Most of the big banks will allow transfers from the cardholder's bank account to the business prepaid card, granted they are of the same bank.
Can the Balance of a Prepaid Business Card be Refunded?
As long as the circumstances of the refund meet the criteria given by the bank, it can be achieved. Think of it as going through the same process as a retail purchase refund.
How Much can be Withdrawn from an ATM?
There is typically no limit to the amount that can be withdrawn from an ATM, although each bank has its own set of requirements. Keep in mind that there is almost always a withdrawal fee when using an ATM.
When Will the Prepaid Business Card Arrive?
It can take anywhere from four to eight weeks for a prepaid business card to arrive. Again, it depends on the bank - some provide quick luck, while others require a more extensive wait.
What Happens if the PIN is Forgotten?
The cardholder must contact their bank in order to retrieve a lost PIN. Typically, this process requires the user to create a new PIN and submit extra security measures to prevent identity theft.
What is the Current Rate?
Most prepaid business cards in the UK offer a 0% interest rate for at least a year, if not more. The top-rated currency cards are offering no interest until 2019.
How can the Card be Topped Up?
Users are always able to top up their currency cards by making deposits through their bank. The fine details must be discussed with individual bankers.
Where can a Prepaid Business Card be Used?
The cash cards can be used at almost any location, and can typically be used abroad. Exchange rates do not change, and are fixed to the card. Keep in mind that an employee or workplace individual must be approved first before they can spend money on the card.
Are there Additional Cards for Family and Friends?
Business prepaid cards typically do not allow for extra issues to family and friends, but it depends on the bank. Some currency cards can be distributed to multiple individuals under the same account.
What Are the Currency Card Costs?
Some banks do not have any associated costs for activation, ATM withdrawal, or monthly fees. Other may include all of these costs, and the prices may vary.
How Can the Card be Renewed?
Any banker can renew the card on a monthly or annual basis.
Can the Currency Card be Used at a Petrol Pump or Hotel?
As long as it has been pre-authorized, the card can be used to book a hotel or spend money at the petrol pump. If the card is declined, it is because it may take some time before the approval goes through.
How Can the Statement and Balance of the Card be Checked?
The statement and balance of the card can be checked on the bank's website, and there are typically some mobile tools available as well.
Can Balances be Transferred from Old Cards?
If the old currency card is from the same bank as the new prepaid card, balances may be transferred. Otherwise, a negotiation may have to be made between the two banks.
The Advantage of Pay as You Go Cards
Business prepaid cards are a popular item of the future, and it is easy to take advantage of the deals and savings. Any small or large business can benefit from having all of their expenses on one convenient card, with the ability to control all finances with ease.