PEX Visa Prepaid Card for Business
The PEX Visa Prepaid Card for Business is a tool for every company with employees in the field who need to make purchases with company dollars.
Using the PEX card and their own computer, employers can allocate specific funds to each employee, and even control where and how those funds are spent. You can, for instance, allocate a dollar amount per day for restaurant meals and a different dollar amount for gasoline. You can set daily spending limits and restrict use to authorized categories.
For employees on job sites, you can designate dollars for supplies, and in the case of unexpected expenses, send additional funds to the employee card in minutes – right from the comfort of your own computer.
Pricing is via a monthly fee, which is waived for the first two months. There are no transaction or card load fees. No credit check is required to obtain this card.
Prepaid funds are held in the primary business account until disbursed to individual employee cards. Thus, each employee has a pre-set balance available, and that balance can be changed by the business owner at any time. Unused funds can be pulled back into the primary account.
Cards are issued in the employee’s names – in case of termination the owner needs only to set the balance available to zero. Cards can also be “turned off” when employees are on vacation or temporary layoff.
The reporting package can report monthly spending for each card holder, or for the entire business.
The PEX Visa Prepaid Card for Business gives a business owner complete control over his or her funds, even with a dozen employees in the field. The pre-set spending limits prevent unauthorized purchases and the “no cash withdrawal” feature means you know exactly where every dollar went, even if the employee loses receipts.
Using this system will put any business owner in good graces with the company accountant.
