For new businesses starting up, being able to pay for new equipment and services easily helps get things up and running more smoothly. But for new businesses getting a credit card is next to impossible unless the business owner personally guarantees the line. Bank debit cards are an option but companies don't generally like them as there is a direct link to cash in the bank, card balances are unsegregated and tap into a single pooled account balance, there is ATM and check access and you have to wait for statements to view a breakdown of spend per cardholder.
New businesses come to PEX Card all the time for our business prepaid debit card service because we provide an organized way of managing cash employees can use in a controlled environment. What's more, funds allocated to this account are kept separate from main operating funds and are laid out to provide visibility into what people are doing, while controlling misuse. PEX Card helps early stage companies avoid problems with misuse, other mistakes and helps minimize wasted time. Have a look at our demo for a close look. Thanks for reading!