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Whether you run a fortune 500 company or you’re starting a new venture, your expense reconciliation is vital to the success of your business. Financial experts worldwide agree that without proper expense reconciliation, companies could face unnecessary debt and hardship in the future. Even with the increased importance of proper budgeting and reporting, many businesses still struggle to reign in the spending. Instead of dealing with the high-interest rates and revolving limits of a corporate credit card, there’s a smarter way to track your expenditures and stay on budget.

Prepaid business debit cards are becoming increasingly popular in all industries. From executives in the business sector to used car dealerships, more and more companies are making the switch. These reloadable cards provide a more effective way to track expenses and make budgetary changes. With so many benefits, why haven’t you made the switch?

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Easy to Use

Prepaid debit cards are simple and easy to use. With a few simple clicks, you can assign specific cards to specific users. Whether you’re looking to assign a card to an individual in your company or an entire department, these specifications are handled by you. After you’ve established who will use your prepaid debit card, you determine how much money each card user will have access to. By loading a pre-determined amount onto each card, you ensure the card user doesn’t overspend. Reloading these cards only takes a moment and can be done from your favorite mobile device.

Reduced Costs

Using a prepaid debit card instead of a corporate credit card can save you an untold amount of money. By streamlining your administration of fund disbursement, you save on man hours; freeing up employees’ time so they can focus on more important tasks. Plus, you don’t have to worry about high interest rates or transaction fees associated with many credit cards. If you choose to use your debit cards as a payroll solution for your employees, you’ll also save money by eliminating paper checks. Salaries can quickly and easily be paid weekly, bi-weekly, or monthly. Reimbursements are much easier too, as you don’t have to worry about having to reprocess lost or stolen checks.

Streamlined Expense Reporting

Utilizing WaveCrest for your prepaid debit card solution is the easiest way to streamline your expense reports and create new budgets. The easy-to-use software allows you to track each card’s spending and ensure that money is being transferred appropriately. Instead of waiting for the end of the month to review budgets and look at your expense reports, you have access to real-time reporting. These cutting-edge reports give you more control over your budget. You can increase the money your employees need for certain projects or cut off funding as needed. Based on the analytics you receive on the spending habits of your employees, you can improve your budget, reimbursement, and administration policies and procedures.

Increased Security

Because you’re using a prepaid business debit card, the risk of theft decreases. The money loaded onto each card isn’t tied to your corporate bank account or a high credit limit. WaveCrest also offers fraud and liability protection should an incident occur. If any of your cards are lost or stolen, it’s simple to replace them. Opting for prepaid debit cards eliminates the need for petty cash and is much safer than using a corporate credit card. This is because you’re in charge of how much money is loaded on to each card, so internal theft and overspending due to employee negligence is reduced.

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Flexibility

You aren’t limited in the places that you can use your prepaid business debit card. Each card is fully-equipped with a security chip, allowing you and your employee’s full use at any place that accepts your card’s issuing company. Whether online or in person, you can use your business prepaid debit card just as you would any major credit card; without worrying about the risks.

WaveCrest is proud to offer a wide variety of prepaid solutions that fit your needs, including prepaid debit cards for business. If you’re looking for a way to streamline your financials, and increase your control of the budget, explore your prepaid debit card options.

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