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What do commercial cards offer businesses?

Commercial debit and credit cards offer several features and benefits to your business, such as: Advanced security features Access advanced security features, such as chip technology, two-factor authentication, and fraud detection to protect against unauthorized financial access. This helps keep your information secure and reduces the risk of fraudulent activities. Detailed purchase tracking and reporting As mentioned, commercial card providers offer detailed expense management tools. You can use these to monitor and report your purchases and spending patterns, track expenses, and identify areas for financial improvement in your business. These tools include graphical representations and interactive dashboards, making it easy to analyze your data. You can access the tools online or via a mobile app and build detailed reports that drive short and long-term business decisions. Rewards and incentives Many commercial card programs offer rewards for spending in certain ways. For example, yo

How to choose a commercial card provider

There are several deciding factors for selecting a suitable provider. Below are some key considerations to keep in mind: Fees and interest rates Compare the fees and interest rates of the providers you are considering. What do they charge for annual, overdraft, late payment, and cash advance fees? Also, find out whether there are other charges for utilizing the services that you may not be expecting. Make sure the charges are reasonable by industry standards and in line with what your business can afford. Rewards and incentives Look out for providers that offer rewards programs that benefit your business and the card members. Rewards such as cashback, discounts on products or services, or redeemable points can be incentives to use your debit and credit cards more frequently. In turn, the corporate cards can offset some of the costs of having the account. Security and fraud protection Ensure that the provider offers solutions for fraud protection. Check for corporate card and banking fe

Credit cards

 Pros Instantly detect transactional irregularities: Real-time transactional notifications alert you to any irregular or fraudulent activity on the account, such as unauthorized purchases or credit card chargebacks. Build a credit score: Utilizing company credit cards can help your business build its credit score. Banks often report your spending activity to the credit bureaus that compile your credit score. Access rewards programs: Many credit cards offer rewards programs, such as cashbacks or airline miles. It is a great way to save money on purchases and travel expenses. High spending limits: The credit line allows businesses to make higher-value purchases or pay for unexpected costs easily. This can improve cash flow and provide a source of temporary funding. Cons Potential for overspending: Although convenient, access to a credit line can make it very easy to spend more money than you have. This can lead to debt if not managed properly. Potential for fraud: Fraud on credit cards h

Debit cards

Pros Prevent debt: Debit cards are linked to checking accounts and reduce the available bank balance. You can set transactional limits, so users never spend more than what’s available in the linked account. No annual fees: Banks typically don’t charge annual fees for debit cards. The amount is already built into the account fee. Suitable for smaller purchases: Commercial debit cards are ideal for smaller transactions that don’t considerably impact your company’s budget or financial standing. Easy to acquire: Since debit cards don’t require you to borrow from the bank, they are easy to get, even without a good or existing credit score. Cons Limited access to funds: Debit cards only allow you access to spend what’s already in the bank account or up to a certain limit. This can be a problem if you need to make an emergency purchase and don’t have the funds available. Overdraft fees: Most banks charge overdraft fees if you spend more than is available in your account. This can cause unnece

How do commercial debit cards work?

A commercial debit card works similarly to a regular debit card, although it is designed with business needs and spending in mind. These business cards link to a checking account and allow the employee to transact by accessing funds from the connected account. Payments may take place online or at a merchant’s POS system. The person may also withdraw cash. When a purchase is made, the amount is deducted from the account’s available balance. To help control spending and reduce fraud, you can set spending limits and control how, where, and when the plastic can be used. Banks do not conduct credit checks before issuing debit cards. Nor do they charge interest on transactions. [TW] 商業借記卡如何運作? 商業借記卡的工作原理與普通借記卡類似,但其設計時考慮了業務需求和支出。 這些名片連結到支票帳戶,並允許員工透過從關聯帳戶提取資金進行交易。 付款可以在線上進行,也可以在商家的 POS 系統上進行。 該人還可以提取現金。 購買後,金額將從帳戶的可用餘額中扣除。 為了幫助控制支出並減少欺詐,您可以設定支出限額並控制塑膠的使用方式、地點和時間。 銀行在發行借記卡之前不會進行信用檢查。 他們也不收取交易利息。

Virtual cards

Virtual cards are the latest in payment technology. They are digital cards that are usually linked to corporate credit accounts. Administrators create virtual cards to enable employees to settle online transactions. They are typically created on demand and are often single-use or have temporary account numbers. Because of this, they offer a secure way to transact online. [TW] 虛擬卡 虛擬卡是最新的支付技術。 它們是通常與公司信用帳戶關聯的數位卡。 管理員建立虛擬卡,使員工能夠進行線上交易結算。 它們通常是按需創建的,並且通常是一次性的或具有臨時帳號。 因此,他們提供了一種安全的線上交易方式。

Prepaid cards

Prepaid cards are suited to businesses with restricted budgets. A program administrator deposits funds onto these prepaid cards up to a certain balance. The employee has the option to spend this balance on purchases such as office supplies, travel expenses, entertainment, and subscriptions. [TW] 預付卡 預付卡適合預算有限的企業。 計劃管理員將資金存入這些預付卡,直到達到一定餘額。 員工可以選擇將這筆餘額用於購買辦公用品、差旅費、娛樂和訂閱等。

Fleet cards

Fleet cards are designed for businesses that manage a fleet of vehicles. Account holders use these to purchase gas, oil, tires, and other necessary supplies and services, including repairs and maintenance. Fleet cards also give the program administrator control over the types of goods purchased, where goods can be bought from, and authorized card members. This helps you optimize fleet usage and reduce costs. [TW] 艦隊卡 車隊卡專為管理車隊的企業而設計。 帳戶持有人用這些來購買汽油、石油、輪胎和其他必要的用品和服務,包括維修和保養。 車隊卡還使計劃管理員能夠控制所購買商品的類型、可以從哪裡購買商品以及授權卡會員。 這有助於您優化車隊使用並降低成本。

Purchasing cards

Purchasing cards pay for business services, supplies, and equipment, including maintenance services, office supplies, computers, or furniture. They also pay vendors and suppliers up to a certain amount. In this case, it is important for the employee to keep and submit receipts to the finance department to reconcile accounts. [TW] 採購卡 採購卡用於支付商業服務、用品和設備的費用,包括維修服務、辦公用品、電腦或家具。 他們也向供應商和供應商支付一定金額的費用。 在這種情況下,員工保留收據並將其提交給財務部門以對帳非常重要。

Corporate cards

Corporate cards are an option for employees who travel frequently and need to track and manage their expenses on the road. These typically have set spending limits and are used to pay for airfare, hotel stays, car rentals, and other travel expenses. Importantly, corporate cards are often linked to rewards programs, where employees receive incentives to use certain vendors. A common example is a program that incentivizes corporate card members to purchase from a specific airline or hotel group when they travel. [TW] 公司卡 對於經常出差並需要追蹤和管理旅途費用的員工來說,公司卡是一種選擇。 這些通常設定了支出限額,用於支付機票、飯店住宿、汽車租賃和其他旅行費用。 重要的是,公司卡通常與獎勵計劃掛鉤,員工可以透過獎勵計劃使用某些供應商。 一個常見的例子是激勵公司卡會員在旅行時從特定航空公司或酒店集團購買商品的計劃。

Types of commercial debit and credit cards and which one is right for your business?

Banks offer several types of commercial cards, most of which provide detailed expense tracking and reports for the business. Within each category, the cards often have names based on corporate spending level. For example, you may have heard of platinum cards, gold cards, and silver cards. [TW] 商業金融卡和信用卡的類型以及哪一種適合您的業務? 銀行提供多種類型的商業卡,其中大多數為企業提供詳細的費用追蹤和報告。 在每個類別中,這些卡片通常會根據企業支出水準進行命名。 例如,您可能聽說過白金卡、金卡和銀卡。

What are commercial cards?

Commercial cards are payment cards that businesses distribute to employees for the purpose of making company purchases. Authorized card/account holders can use their commercial card to: Pay merchants Settle work expenses such as travel or office supplies purchases Withdraw cash from ATMs As a business owner, you can apply for and receive commercial cards from banks, credit unions, or other financial institutions. Some issuers may require your business to meet specific eligibility criteria, such as turnover certain revenue or employ a certain number of people. The business may also need to undergo a credit check before being approved for certain products. There are several types of commercial bank cards, including commercial credit cards and commercial debit cards. These work similarly to your personal plastic but typically come with additional features and benefits that are tailored to your business needs. For example, you may get the option to access: Higher spending limits Expense re

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 In this article, we answer questions such as: What is a commercial card? What are corporate cards? How do commercial cards work? What is the difference between debit and credit card? Which is better – debit or credit? Why should your business adopt them? What are commercial cards? [TW] QA 在本文中,我們回答以下問題: 什麼是商務卡? 什麼是公司卡? 商務卡如何運作? 金融卡和信用卡有什麼差別? 借記卡還是貸記卡哪個比較好? 為什麼您的企業應該採用它們? 什麼是商務卡?

Commercial debit and credit cards: What are they and how do they work?

Commercial debit and credit cards offer benefits such as expense tracking, insurance coverage, and fraud protection for corporate use. As they become the primary payment method for many business owners, Keep reading to Discover the advantages of commercial cards for businesses of all sizes types available for different use cases. Commercial cards are indispensable tools for helping businesses of all sizes accurately manage company purchases and operating expenses. The debit and credit cards are specially designed for corporate use, offering the business and cardholder various features and benefits. For example, you may get access to rewards programs, expense tracking, insurance coverage, and fraud protection through these cards. According to a TD Bank business payment trends report  more businesses are paying with commercial cards. The truth is, commercial card adoption has partly been driven by the need to move away from cash and check payments. Today, many organizations rely on comme