PEX Visa Prepaid Card For Business

The PEX Visa Prepaid Business Card is just like most prepaid card but its mainly for Used for employees of Business to keep track of their business expenses instead of them using a corporate Credit Card. The PEX card funds employees for purchases introducing companies with a better way to control employee spending and avoiding the hassles of credit card or charge cards. The PEX card is the perfect alternative to the traditional use of business cards. Business can instantly fund employee purchase and gain 24/7 control over where and how much employees spend. The companies save money because its no surprise interest charges and overdraft fees can be very high. PEX has back end or dashboard software so the business can track individual employees expenditures and also helps with budgeting and planning of their expenses for there employees and Managers as well.

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The PEX card Service is only available to Companies or Businesses. For a company to enroll they can get 2 free months so they can make sure the PEX service is good for their company. They just have to complete the enrollment form on line or they can call the PEX company at 1-877-274-3390 to complete enrollment by phone or they can ask questions and get the answers needed. Once the company is approved they will have access to all of the PEX card service. The approvals are based on the companies ability to confirm details they put on the application They do not approve on credit score since this is a prepaid service and not a credit card. It takes about 3 business days to be complete. The applicants must also be a registered Business and the application must be submitted by a CEO, CFO, director, owner or President of the company.

PEX Is A Better Way For Employees To Make Company Purchases Out In The Field. While You Keep Control Over How Much They Spend. Once you are approved here are 5 things that will happen next.

1. The PEX Card Account is a businesses main account for keeping their funds. The Companies money is insured by FDIC so you can know that it is safe. PEX Transfers feature uses a ACH which is similar to an electronic check, to move funds to and from the companies bank account to the companies PEX Card Account. A company can move money to and from their PEX Card Accounts any time they wish to online. since its prepaid the account is funded before any purchases can be made. Once the PEX prepaid card account balance is updated the company can use move funds to specific PEX Visa cards. If the company needs to take any unused money back they can always transfer the funds back into their own bank account. The money always belongs to the company until charges or purchases are made and fees are charged to the account.

2 Once the card the company is enrolled and the cards are funded a company administrator can Login to thier company’s Administrative Website setup by PEX to issue cards in all of its employees’ names. The cards requested are then processed immediately and then mailed to the employees home address. The employees will receive their new personalized PEX Visa cart in 7 to 10 business days or if the company wants they can expedite it and spend more money for shipping. The cards are prepaid so issued cards are inactive with a zero balance, plus there is no minimum funding amount. The personalized Visa prepaid cards are issued with a 3 year expiry period so a company can issue a card once and add funds time and time again or when needed.

3. Then Business Administrator controls how the cardholders use their cards. By pre-authorizing spending amounts the business does not have to micromanage every requisition. Business can get money to their staff for purchases in less than a minute! Then a business can specify and adjust any individual card balances and their daily limits. The administer can set spending rules by merchants and by category. The company can also suspend or reactivate a card or set it for only temporary use. Everything on the site is done in real time through PEX administrative website. You can do lots of stuff on this website like add $40 dollars to buy supplies, add $600 for trip expenses. You and fund and categorize how ever the company wants.

4. The cardholders of the Prepaid PEX cards can use the card just like they would other Visa cards, to make purchases that are in categories the company sets and communicates to the employee how to spend them. The cardholders can spend according to the profile setup by there administrator. The card holder can check their balance and spending profile online anytime they want to. Since people already know how Visa cards work, there is very little training is required to use the PEX Visa Card. A company should inform them of the restrictions in their spending accounts. If the employee needs changes they can contact their administrator for modifications when needed.

5. A company can then See and control the spending as it happens. They can access everything they need about their business program and individual users cards, and keep track of the balance in the business main account for holding funds. Also a business can see transaction detail and get summary reports when ever they need them. The reports are organized by a card or on a corporate basis. The transaction details for reporting are always up to date. This can be helpful for managing cash flow and prevent a company from over spending. The company can download monthly statements and can make forecast for future expenditures and mange their budgeting more efficiently.