Now that we have had an opportunity to talk to some small business owners on the phone, we are hearing their stories about trying to run their business using consumerreloadable prepaid debit cards. One of our new customers was using a teen card product. Teen cards are not for business spending. Here are a few limitations he discovered:
- Low max card balance. Teens aren't using cards for travel expenses, so capping the card balance at $2,000.00 makes sense. But as a business owner, having to work around that limitation is tough.
- Spend limits. Limits are a great idea, but the business owner should control which employees need them. Spend limits on a card for a trusted employee can be frustrating.
- Limited card reloads. Businesses spend….a lot. As a business owner, you need the freedom to control card loads. Only you know when and how much your employees need to spend.
Tools are meant to solve problems, not cause them! Teen cards for business are just the wrong tool for the job. That is why we created a corporate reloadable prepaid debit card. We are helping our customers by offering:
- A business reloadable prepaid card with a $10,000.00 max balance.
- User defined spend limits. Create spend limits for employees that need them and give trusted employees unfettered access to their card balance.
- Unlimited card reloads. Move money when you want, 24/7/365.
We are helping our customers to manage petty cash efficiently… it's the right tool for the job.
The PEX platform and prepaid cards give your business a flexible, robust and cost-effective way to enable, control and track spending.
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Opinions, advice, services, or other information or content expressed or contributed here by customers, users, or others, are those of the respective author(s) or contributor(s) and do not necessarily state or reflect those of The Bancorp Bank, N.A. (“Bank”). Bank is not responsible for the accuracy of any content provided by author(s) or contributor(s).