Whether it is gas for the company truck or office equipment for your admin team, prepaid business debit cards are an excellent way to maintain control of the company finances while still allowing employees spending privileges. Many prepaid business debit cards even include special accounting tools and integrations to help reconcile expenses and simplify your bookkeeping. However, there are many options out there to choose from, and not all of them may suit the unique needs of your business. Based on our methodical analysis, these are the best prepaid business debit cards for 2022.
The best prepaid business debit cards compared
How did we choose these products?
To find the best prepaid business debit cards, there are specific factors that we consider: Waived with $500+ monthly direct deposits With your Bento account, you can import your employee list, request cards as needed for the entire team. With Bento approval, you may have up to two additional Authorized Signers on your account. You may use your card as often as you like, but you may spend no more than $25,000 per transaction per day. There are no limits on direct deposit, ACH, or wire transfers, but Bento transfers are limited to three per day, up to $10,000. Bento does not allow any ATM deposits, but you may withdraw cash from any Visa®, Maestro®, Plus®, or Interlink® ATMs. However, there are limits to the amount of withdrawals, with a $500 maximum per transaction and per day. ATM withdrawals are also limited to the business owner only. There are also no direct deposits, with deposits limited to your external bank account only. Pros:
Cards for more than 100+ usersPhysical and virtual cardsVery few fees
Cons:
No direct depositNo ATM depositsATM use for business owners only
Fees
Bento offers a free 60-day trial, allowing you to test drive the service with up to 50 cards. No contract is required, just a monthly fee that depends on your business’s number of physical and virtual cards. Bento offers prepaid business cards for more than 100 employees, making it well-suited for companies with lots of employees. For more than 100 cards, Bento offers customized pricing.
Plan fees
There are some other fees you may incur with your Bento prepaid business card.
Bento Prepaid Business fees
$3 international You can use your card anywhere. Mastercard is accepted for all of your spending needs, with more than 40 million retailers and over 210 countries and territories. You can use the Dash mobile app for account management, including setting spending limits and tracking employee spending. You can upload and comment on receipts before filing them away. There is a detailed reporting feature, and employees can also request funds as needed right in the app for better efficiency. Dash protects your account with 24/7 fraud monitoring, plus there is the ability to set custom alerts for low balance and daily summary notifications. Pros:
No monthly or transaction feesUnlimited number of cardsNo monthly cost
Cons:
$10,000 card maximum$100,000 account balanceACH reload only
Fees
A Dash account comes with very few fees. You may have an unlimited number of Dash prepaid cards without any monthly or card fees.
Dash Prepaid Business fees
Account owners have the ability to fully control employee spending with the ability to create budgets and restrict specific merchants. Staff can easily request additional funds while you control budgets and even where and when employees are allowed to use their cards. Emburse is all about efficiency. You get real-time reporting with immediate transaction approvals, and instant funds transfers to prevent any unnecessary delays. Plus, you can set special role-based permissions with approval flows to allow regular transactions to occur without repeated approval. For easier accounting, you can export expenses directly into QuickBooks, and there is additional fraud protection to help protect your account. Pros:
Visa and Mastercard emblemsInstant fund transfersControl over time and place of employee cards
Cons:
Pricey plansNo ATM withdrawalsNot available in Puerto Rico, Guam, and other U.S. territories
Fees
The Emburse prepaid business card is available in three monthly plans, depending on the number of users you have.
Emburse Prepaid plans
The Netspend Small Business Prepaid Mastercard includes additional special rewards through Mastercard Easy Savings. For those staff lunches, this includes a 4% rebate on more than 20,000 restaurants, such as Carrabba’s and Bonefish Grill. One of Netspend’s strengths is its ability to create custom programs for rewards and incentives. You have the option to set up either one-time or recurring rewards for anything you like. Rewards can then be deposited directly onto your employee’s card. Employees can immediately access funds and, with paperless payroll, receive payroll cards instead of printed checks. Account owners have access to the Employer Portal, a space where you can customize your program with personalized company branding. Here, there are also account settings for employee details, transactions, and tax files. Netspend also includes additional software called Tip Solutions to help you both calculate and pay staff tips. Pros:
Custom branded incentive programsAdditional Mastercard Easy SavingsExclusive Tip Solutions calculator
Cons:
$25,000 maximum balanceLots of fees$5,000 maximum daily spending limit
Fees
While direct deposit is free, the Netspend Small Business Prepaid Mastercard carries specific fees.
Netspend Small Business Prepaid fees
$4.95 international Varies at over-the-counter cash withdrawal at Reload locations You can track your account activity via desktop or the mobile app with additional API integrations using SaaS technology. You can also use the PEX API to create a custom, automatic payment platform that has the capacity to process millions of daily transactions. You can also integrate your card with several popular programs like QuickBooks, Booking Express, and Certify. There is 24/7 cardholder support if you have any issues. Pros:
No minimum required balanceNo transaction limitsnonprofit plans available
Cons:
Monthly plans can be priceyNo ATM accessTransfer fees to a bank account
Fees
There is a free 60-day trial so that you can try out the PEX Card first. Several plans are available for businesses of all sizes, but you can waive the monthly fee when you spend $50,000 or more.
Prepaid PEX Card Monthly plans
There are also some additional fees you may face.
PEX Card Prepaid Business fees
$3 international $3 international There is a monthly fee of $5.94 per month, but you can waive this fee when you have a minimum of $500 in direct deposit each month. The Walmart card earns 2% interest on up to $1,000 in savings. There is even overdraft protection of up to $200 when you use direct deposit. With ASAP Direct Deposit, funds can be received up to two days before usual times. Accounts are permitted cards for up to four additional members with approval. You can either open an account online or purchase a card from a physical Walmart store to get started. Once your account is open, there is mobile banking to help you manage your account with check deposits, balance inquiries, bill pay, and funds transfers. Pros:
Cashback rewardsOverdraft protection up to $200No monthly fees
Cons:
It can only be used at Walmart$500 maximum balanceATM and teller fees
Fees
The Walmart MoneyCard has specific fees you may face.
Walmart MoneyCard fees
$0 with app $3 with card at Walmart registers $5.95 other locations
Account fees: While some cards may require pricey monthly plans, others may not charge any monthly fees at all.Card fees: There are other fees that may apply to your card, such as ATM fees, reload charges, and foreign transaction fees.Reloads: When it comes time to add funds to your card, some cards may let you reload via the mobile app, while others may require ACH transfers or in-person reloads. Transactions: Card providers may limit what you can deposit and where, as well as charging you fees for accessing your funds.Users: Depending on the number of employees you have, you may require multiple cards, but some cards limit the number of users on your account.Tools: Many options give you the ability to create custom controls for each individual card, so your manager has different access than your intern.Integrations: To simplify your accounting, many prepaid business debit cards come with special integrations, such as Quickbooks and payment integrations.Reporting: Depending on the card you choose, you may receive real-time alerts and expense tracking.Rewards and benefits: Some cards give bonus rewards or allow you to earn interest, such as the Walmart MoneyCard and NetSpend
Before you choose the best prepaid business debit card for your business, be sure to consider your spending needs carefully.
Which is the right one for you?
With so many prepaid business cards, it can be difficult to know which one to choose for your business. We can help.
Are there alternatives worth considering?
Several prepaid business debit cards almost made our list, including these: Our list of best prepaid business debit cards are an excellent place to start.
American Express Serve FREE ReloadsBluebird by American Express Chime Fifth Third Access 360° Reloadable Prepaid Card Mastercard Business Prepaid Card
If you are not sure that a prepaid business debit card is for you, check out our recommendations for the best business banking accounts for the self-employed, as well as our picks for the best business bank accounts for 2022!
