Manage your business finances with a debit card –

A debit card is a tool that helps entrepreneurs to manage the finances of their business thanks to the different advantages it offers, such as: better budget control, better monitoring of expenses, quick access to funds and that they do not generate interest. .

Managing the finances of any business is challenging; , receiving funds, tracking expenses and paying each invoice on time (to staff and suppliers) are just some of the administrative tasks that, if there is no order and with up-to-date information, can complicate the operation of the business.

Any method that streamlines processes is essential to maintaining a healthy business. For this reason a Debit becomes an important ally.

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Benefits of debit cards in your business

These are some of the benefits that using this financial tool will give your business:

1. better than cash
2. Increased expense tracking
3. Quick access to funds
4. They do not generate debt or interest

1. Better than cash

No matter the size of your business, it is very difficult to manage it all the time without the help of a person in charge of it; sooner or later you will delegate it to your staff. Debit cards are much better for that purpose than handling cash.

This way you will get all the information about outgoing payments, when and where they were made. Tracking all incoming and outgoing transactions is a key element to smart corporate spending and .

2. Increased expense tracking

Tracking spending is also easier with analytics tools built into debit cards. Some fintech companies, such as , which allow you to adjust where cards will be used based on merchant category codes. For example, the cards cannot be used for online gambling.

3. Quick access to funds

In addition to helping with day-to-day management, this plastic is useful in other settings. For example, as companies grow, managers or managers may need quick access to funds. They may need to purchase material, settle an invoice quickly, or be reimbursed for an expense. The urgency of the request can cause problems for a small finance department.

Debit cards offer a very convenient solution in cases like the one above. Providing employees with corporate cards allows better and more precise control. Depending on the needs of the department, you can adjust the limits per card to avoid excessive expenses.

4. They do not generate debts or interest

Business debit cards are linked to a company’s business checking account, so that funds are deducted directly from it when purchases are made, that is, you will not generate debts.

Also, debit cards do not charge interestnor will they affect your personal credit and will allow you to have the same degree of flexibility in your purchases.

In conclusion, a business debit card is a strategic part of good management and control of your business resources.