• Free two month trial offer. You can test the Bancorp PEX Visa Prepaid Card for Business program for yourself with no obligation, and see how much it can help your business. Two months gives you a good time-frame to work with the program and evaluate it.

• Guaranteed approval, as long as you are a valid business with a business bank account. All employee cards are guaranteed approved, as well.

• FDIC insured. Your PEX account is not a bank account, but all funds on deposit are FDIC insured.

The PEX Visa Prepaid Card for Business from Bancorp Bank is an innovative way for businesses to manage how employees spend business dollars. The card program could not be any simpler to use, and it can help the profit margin and cash flow of your business while streamlining expenses. A two month free trial period is being offered to businesses so they can see for themselves how great the system is.

Businesses have been confronted with problems in gaining credit for the last few years. In fact, some small businesses can’t get a credit card for themselves or their employees, and even if they do, sometimes the line of credit is very low and the interest rates are high. This can cause difficulties on business trips, for instance, where the credit card becomes useless or high fees kick in.  But employees and business owners still need to travel, buy supplies and conduct business. What can a company do?

The PEX Visa Prepaid Card for Business from Bancorp Bank offers an excellent solution. The corporate card will be guaranteed approved as long as you are a valid business with a business checking account. There will be no credit limits and no difficult, lengthy application procedures. You will be granted a corporate account, and you can start using your business money in an efficient way.  You and the employees you choose will be issued PEX Visa Prepaid Cards, and you control the cards with a simple and easy Administrative Website

Why would your business want to consider using prepaid cards for employees?  How can this help you? 

• To streamline your administrative procedures
• To control employee spending and improve the bottom-line
• To get a faster, real-time overview.
• To avoid credit card interest charges, overdraft fees, or the problem of not enough credit – or to overcome the inability to get credit cards that are essential to function in today’s society.
• To have the convenience of the Visa card.

Bancorp Bank is a leading prepaid card issuer in the U.S. with almost $2 Billion in assets. It has more than 25 million prepaid cards in active use, and is an expert in handling them. Bancorp is an FDIC-insured online commercial bank that remains the only bank in the country dedicated to banking and technology solutions for non-bank companies. In fact, here is an important point: your PEX account is not a bank account, but all funds on deposit are FDIC insured. You can be confident working with the PEX Visa Prepaid Business Card.

You decide which employees will be issued cards, or which employees may need them in the future. You enter data on the employee into the online program, make the request, and the card will arrive in about 7 days. Cards are issued with a zero balance and are inactive until you activate them. There is no minimum funding requirement. You have a corporate account that holds your business funds. You essentially “pre-authorize” spending on any card you want online – money is posted to cards in less than a minute. You can set daily limits or balances to each card, suspend, adjust or reactivate card use easily, and even set spending rules. This is all accomplished through the user-friendly, powerful Administrative Website. All features on the website are simple to use.

There is a good five-minute demo on the Pexcard website (www.pexcard.com). It shows the program features and demonstrates how easy it is to add cards, set limits, transfer funds and manage the account.

Employees can use the cards wherever Visa is accepted, which is almost everywhere. Take away worries of credit card problems or using cash. Don’t worry about overspending. See everything real-time and have true control over your business dollars.

Say you have three employees who handle sales in three territories for your company, and you have an administrative assistant who is in charge of all office supplies. You can issue these four employees the PEX Visa Prepaid Card for Business. Before the employees take their next sales trip, you post funds to the card that totals the budget for hotels, daily food and gasoline. The employee knows what their budget limits are, and stay within them using the card. You have instant transaction reports when the hotel, food or gasoline are paid for. In addition, you have a set monthly budget for office supplies. The PEX Visa Prepaid Card is loaded at that amount on the administration assistant’s card, and her card has spending rules and restrictions – no purchases at hotels, airlines or car companies, for instance. The card is only authorized for office supplies.  She can make the online or in-store purchases with ease, and you are sure that you stay on budget.

Perhaps a company benefit includes a lunch allowance for employees. Instead of dealing with petty cash or check reimbursements, employees could be issued the cards which have a preset amount representing the food allowance. You allocate the amount, the employee knows what their budget is and stays within in, and all expectations are aligned. No surprise credit card expenses, no surprise reimbursement requests, no petty cash issues.

Funding the corporate account is easy – the Administrative Software has an ACH function set up with your bank. You simply enter the amount you want transferred from your bank to the PEX corporate account. Funds in the corporate account are then used to instantly fund employee cards as you alone decide; you won’t incur finance charges, have surprise overdrafts or take on new debt with the typical employee credit cards. You have control at all times over where and how much employees can spend.

Let’s look closer at the PEX Card Service Fees.  First, what is free?  Card fulfillment is free, each transaction is free, account maintenance is free, live agent support is free, ACH deposit and currency conversion events are free. The monthly fee per card of $7.50, and the one time Program Account Set-up fee is $49.95. Card replacement (lost/stolen) is $5.00, and a late payment fee is $25.00.  Remember, there is a 2 month trial offer. Before signing up, be sure to review all fees as they can change.

Your corporate funds are segregated between a corporate holding account and your cardholder accounts. You can instantly designate and add money to the employee card, or subtract it. This helps streamline your administrative processes. Typically, an employee has a company credit card, makes purchases and turns in receipts after the fact. He may have overspent, and there may be surprises. Or your employee makes his purchases, turns in his expense receipts and waits for a refund. You or one of your paid employees have to review the expenses, post expenses to the accounts, go through paperwork, approve the expenses and then issue a check, which will take time.
With the Bancorp PEX Visa Prepaid Card for Business, you add (or easily remove) each employee who will be issued a card, you control with your online program and access what amounts get loaded to the card, you can control spending limits and at the same time track the expenses and the balance in the main business account. You can immediately suspend any card, or immediately add new cash to the card. You can set zero balances or block a card, or restrict card usage by a specific merchant category. You can set “funding rules” per card, and get a full detailed spending report in the blink of an eye. You will even have pie charts and business reporting tools with the PEX online programs. It is all in your hands. This can simply requisitions, simply paperwork and expense tracking, simply the old “approval” process, and give you a real-time view of your business.

There are no transaction fees and no deposit fees. Cards are personalized to the employees you designate should have a card, and the cards issues don’t expire for 3 years (but can be blocked or removed at any time.)  Funds on deposit belong to your business, until cardholders make a purchase. Funds can be transferred back to the your registered corporate account at any time.

Time is money. Stop wasting time over burdensome expense procedures, and stop paying credit card interest rates. Stop agonizing over the inability to get employee credit cards. Get the PEX Prepaid Visa Cards, solve your problems, control employee expenses and streamline your operation.  Using the PEX Prepaid Visa Card is safer than cash, too, if you are used to issuing petty cash or cash for trips.

The PEX card is the first commercial corporate prepaid program, and it is sure to take off more widely. It offers businesses a great alternative to cash, checks and credit cards. What is best of all, the Bancorp PEX Visa Prepaid Card for Business is giving businesses a trial offer. The first 2 months are free so you can test and use the system for yourself.