Prepaid expense cards ease expenses stress for companies and drivers
Commerce Bank has launched a Prepaid Expense Card that provides comprehensive spending control and can also help drivers easily cover expenses on the road.
The Prepaid Expense Card is a reloadable, prepaid Visa® card that allows companies to add funds to a card at any time. Much like other debit cards, it can be used anywhere Visa is accepted. Companies can choose to allow ATM access and also limit where the card can be used.
Cardholders have immediate access to funds on the Prepaid Expense Card. They no longer need to pay out of pocket and wait to be reimbursed. Per diems can also be handled with a Prepaid Expense Card, eliminating the need to carry significant amounts of cash. This reduces the risk of theft and loss. Cardholders can easily track their account balance online, through the mobile app or by setting up text alerts. In the case of an emergency, a company can load additional funds quickly rather than requiring the driver to cover the cost.
“We had been looking for a way to streamline our employee expense and per diem payments in a way that benefits both our company and our employees,” says Michael Giddens, General Manager for Pacific Coachways Charter Services, Inc. “So we were extremely happy when we found Commerce Bank and their Prepaid Expense Card program. Implementation was simple and the program has been working flawlessly. We are very pleased and highly recommend it!”
The card also streamlines expense management and tracking. The business office has the ability to fund cards instantly so that the cardholder has the funds he or she needs right away. The usual process of submitting expense reports and approving check reimbursements is no longer necessary with a Prepaid Expense Card, saving time and money. The office administrator can also close a card that’s been lost or stolen and reload the funds to a new card.
The Prepaid Expense Card is backed by Visa Zero Liability* protection and 24/7 customer service.