prepaid credit card for company use?

May 25, 2008 0 Replies

Looking at using a pre paid credit card for company use to cover petty cash and internet purchases etc.



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Is the only option that offers a company name on the card, however the application form offers no facility to enter company name and calling them they offered to put a note on of what name was wished on it. Website is not wholly confidence inspiring.



It seems to one of the most expensive prepaid options available,big set up and monthly recurring. Is having company name added on card of any real word significance, i.e. the tax man would like to see it that way or does it just look nicer handing it over in Maplins?



Having had quite serious security related problems with HBoS, escalation didnt help higher echelons of banking do not appear to be filled with people who got there by merit..., have had to withdraw my personal guarantee over the company`s commercial visa.



I realise that pre paid cards have less protection than bank issued cards but they dont come with a back door into my personal account either. Balance level can be matched to expected demand.



TBH running costs on a pre-paid Mastercard look favourably comparable to running a commercial Visa with same almost universal acceptance.



Do the panel have any advice, experience or alternative suggestions they could offer?



Any reccomendations or otherwise for business banking?



Thanks Adam


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