Month-end surprises and unnecessary time spent reconciling expenses is a pain point for many businesses. Debit cards for employees are a simple way to easily disburse funds to any staff member, even if they work remotely and make it easy for managers to track and monitor spending. Prepaid cards are also convenient for employees and much safer than carrying cash.
Here are 10 Reasons Why Debit Cards for Employees Are Beneficial:
#10 Can Be Replaced
With the click of a mouse, prepaid debit cards for employees can be canceled and replaced. Unlike cash which once lost is not replaceable or checks which can cost money to replace, there is no charge to cancel or issue a new employee card.
#9 No Late Fees
With prepaid debit cards, businesses never have to worry about overdraft or interest charges.
#8 Develops Financial Responsibility
With pre-approved spending limits, employees must stick to strict budgets and approved vendor guidelines and are only able to use funds which have been approved and pre-loaded onto the card.
#7 Less Paperwork
Expense claims are made simple for employees as they do not have to worry about holding on to receipts and business managers have real-time visibility to employee purchases.
#6 Easily Disburse Funds
Business managers can easily manage purchase requests via the Emburse online system any time or day of the week.
#5 Business Travel
Prepaid debit cards are convenient for employees as the funds needed for their accommodations and daily expenses can be pre-loaded onto the card. This eliminates the need for them to have to pay out of pocket and wait to be reimbursed.
#4 Online Purchasing
These days it is common for staff members to order supplies or pay vendors online. Debit cards for employees can be used to make purchases online and are secure.
As prepaid cards can easily be created, they eliminate employees sharing a corporate credit card number insecurely through email or messaging platforms.
Chip and PIN enabled prepaid debit cards are safe and secure.
#1 Control Spending
The main benefit of prepaid business debit cards is their ability to control spending. Managers can easily control how much employees spend and when and where they can spend. Purchase requests are pre-approved and real-time access is available to see where money is being spent and by which departments or team members.
If your business would like to eliminate the headache of month-end expense surprises, contact a member of the Emburse team today. We can show you a demo of how our program can help your business better manage expenses.