Prepaid Debit Cards: What Are They?
Prepaid debit cards are loaded with funds by the employer and issued to its employees to allow purchases from retailers, online or elsewhere. The employer is able to dictate budgets, purchase categories, time restrictions and other criteria thus establishing spending limits and purchasing guidelines for the holder.
What Are The Pros of Prepaid Debit Cards?
Prepaid debit cards take the place of cash transactions resulting in easier accounting and tighter security. Fund transfers, receipt collection and card cancellations are controlled by the employer and occur instantly. Prepaid debit cards also remove the need for the paperwork involved with expense account reconciliation.
What Are The Cons Of Prepaid Debit Cards?
The only serious drawback of prepaid debit cards occurs when using retailers who only deal in cash. Prepaid debit cards work everywhere that debit or credit cards work, including online. The flexibility, security and ease of use of prepaid debit cards far outweigh the rare occurrence of cash only businesses.
Emburse Prepaid Debit Cards
Emburse prepaid debit cards are an easy way for a company to stay on top of its employee expenses while remaining secure and easy to use. Drop a line today to schedule a demonstration on how Emburse can help your company.