Managing business finances isn’t a simple task. Gathering receipts and invoices from every business-related expenditure, and keeping track of where the money is coming from and going can give you a headache.
However, with a business debit card, that bookkeeping burden gets lighter. But how do you go about getting a business debit card?
Here is a quick guide to making that happen.
What Is a Business Debit Card?
A business debit card is virtually the same as a personal debit card. The only difference is that the money comes from the business bank account.
It’s used to cover business expenses and tends to make the process of business finances far more efficient than having to go through the invoicing and approval processes.
How to Get a Debit Card for Business
Getting a business card to handle your business finances is not that difficult of a process to go through. Here are three simple steps to go about getting one:
1. Contact the Bank for Inquiry
To begin, you must contact the bank that you wish to open the account with. Most banks will require several things, such as a business license, to open a business checking account in the name of the business.
Usually, there is also a minimum deposit that must be met to make the account as well. These days though you don’t have to necessarily go through a conventional bank to create a business account.
Many online decentralized options will give you the same benefits as if you were using a real bank. If you want to check one out, click here.
2. Choose the Best Account for Your Uses
Once you’ve discussed the interest with the bank or service provider, you should weigh the different options the bank has to offer the business for their account.
Many banking institutions offer good benefits for debit cards for small enterprises such as higher cashback offers, better interest accrument, and more.
Find out which offers work best for your business and ask many questions. The bank should be more than willing to answer any of them that you might have so that they can obtain your business.
3. Request a BankCard and Create a PIN
When you’ve completed the process, the bank will ask you to give a Personal Identification Number, or PIN so that you may be able to access the card at ATMs and tellers.
Whoever uses the bank card from the business has to know the PIN as well though. So be sure to give the company card out sparingly or to trustworthy employees. Once it’s activated, you’re good to go.
New Financial Access for Your Business
Don’t get stuck with having to constantly fill out reports and ask for invoices for business-related purchases. You should be free of those constraints. Get a business debit card today and make the money flow more efficient.
For more informative articles on how to build your business and utilize its resources in the best way possible, be sure to take a look at the rest of our blog.
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