PexCard is a company that offers a solution to small businesses who want to offer their employees company cards but don’t want to run the risk of being issued expensive credit. Here are a few reasons why you might consider giving your employees a PexCard to pay for company expenses.
Simplified Management
The pre-paid card works like a Visa debit card except that multiple cards can be attached to a single online account from which an employer can track all transactions and add or remove funds from the account on a computer or mobile device.
Automated Accounting
For businesses that use Quickbooks, PexCard account transactions can be easily exported to your accounting records at any time. This can save you valuable time that you might normally spend updating your books.
Monitor Spending in Real-Time
PexCard allows you to monitor spending on all cards associated with the account in real-time so that you can see exactly how much money is flowing in and out of the business at any given time.
Schedule an Allowance
If you want to offer your employees a specific dollar amount at the end of each month, you can easily do that with a PexCard. Simply set up repeatable transfer from your checking account.
No Overdraft Fees
Another convenience of the account is that there are no overdraft fees so you don’t have to worry about constantly replenishing the account when you’re running a little low on cash.
Pricing
The card costs $49.96 to set-up and $7.50/month afterwards—unless your business spends $50,000 or more, in which case the monthly fee is dropped. If you’re unsure about how PexCard can help your business, you can always try it free for 2 months with no obligation.
Published: August 20, 2013
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