Zeller Corporate Cards: A Winning Hand for Managing Business Expenses

Issuing payment cards to employees for business-related spending is a great way of simplifying expense management in the workplace. What’s less simple, however, is understanding the different card types available to businesses. From corporate credit cards to business debit cards, prepaid cards, and expense cards, there’s a bit to get your head around. Below we explain the difference between the most common card types and provide a list of pros and cons for each. Business Credit Cards Business credit cards  are designed for businesses to cover work-related expenses with funds borrowed from an issuing bank. They often provide rewards such as cash rebates or a points program and are available to businesses of all sizes, typically without any minimum annual revenue or spending threshold requirements. They do, however, require a credit check and often a personal guarantee, meaning the business owner is liable for all debt. Because of the risk of misuse, business credit cards are usually only held by business owners, or authorised personnel, not employees. Corporate Debit Cards & Business Debit Cards A  corporate debit card , or  business debit card  is linked to a business’s transaction account. When a transaction is made, funds are deducted from the available balance of the company’s bank account. When a business owner  opens a business bank account , they will receive a business debit card. Unlike credit cards, they are not linked to a line of credit, and spending is limited to what is available within the account. Most debit card issuers don’t offer the ability to easily modify spend limits on individual cards, meaning that whoever has access to the debit card, can access all the funds on it. Prepaid Cards & Expense Cards A  corporate prepaid card, otherwise known as a business expense card, or employee expense card is a payment card that has been preloaded with funds, allowing businesses to control employee spending. These cards are typically very easy to get, with no paperwork or application process required. Prepaid cards are managed by the finance team or CFO, topped up as necessary, and assigned to employees to give them access to company funds. Zeller Corporate Cards Similar to prepaid cards,  Zeller Corporate Cards  are designed for businesses as a convenient way to track and regulate spending while providing employees with a secure and flexible payment method. These cards are linked to your  Zeller Transaction Accounts , and are managed by the finance team or CFO who can set maximum spend limits per transaction and per day, week, fortnight, month, or quarter. Additional cards are very easy to issue (virtual cards can be issued instantly from Zeller Dashboard, or Zeller App), and can be assigned to employees as necessary. Zeller Corporate Cards: Do not require a credit check to qualify Can be set up in minutes Allow you to set spend limits and recurring budgets, reducing admin time Provide a layer of security if cards are lost or stolen Are accepted anywhere Mastercard is accepted Do not need to be topped up with funds – cards draw funds directly from the transaction account, but only within the card's pre-defined limits. Learn more about the benefits of Zeller Corporate Cards here What card types are best for managing team spending? Although it’s common practice for businesses to share one business credit or debit card, and to pass it around to employees as they need it, this is not recommended. Not only do you run a greater risk of losing the card, but also, company money could be used irresponsibly. When choosing a card type for managing work-related expenses for your team, it’s important to choose one that has been designed for that purpose. Corporate credit cards are a good option, however, given their strict eligibility requirements, they remain largely inaccessible to many businesses.  The best option for managing team spending is either prepaid or expense cards, or even better: Zeller Corporate Cards .  These options give your employees the flexibility to pay for work-related expenses without the risk. You remain entirely in control of how much your employees have access to. With Zeller Corporate Cards, you will benefit from robust expense management features, which allow employees to easily upload receipts against their transactions, and employers to control spending limits and reconcile expenses from their desktop or Zeller's mobile app. Additional cards are easy to order, and Zeller supports virtual cards, which employees can add to their mobile wallets.

Meet your powerful new business Debit Card. Without fast access to your takings, business cash flow can stagnate. Having the ability to make purchases and spend funds when you need to is critical to keeping the operational wheels of your business moving. When you sign up free for Zeller, you get a free Zeller Debit Card as well as real-time transaction tracking — simplifying bookkeeping, and making expense management a much easier task. Keep reading to discover how it works. The fastest way to access your funds Zeller offers a full suite of products to support all of your business’ financial needs. Using your Zeller Terminal in conjunction with your Zeller Transaction Account and Zeller Debit Card is the quickest way to get access to your takings — speeding up cash flow so you can purchase stock and pay bills and suppliers fast. Or, spend other funds settled to your Zeller Transaction Account from invoices paid to streamline your business spending. Funds accepted via Zeller Terminal are settled to your Zeller Transaction Account nightly, 365 days a year, and then instantly available to spend with your Zeller Debit Card. Features of your new business Debit Card Zeller Debit Card is the powerful new spending card linked to your Zeller Transaction Account, replacing the Zeller Mastercard. There are plenty of new features and tools you can utilise to streamline your business spending, manage expenses, make it easier for staff to make purchases on your behalf, and much more. The new Zeller Debit Card can be used in conjunction with your Transaction Accounts as a standalone replacement to your traditional business bank. It’s one of a number of new and improved products that mark Zeller’s shift to become a full-service financial services provider. Fast setup Your Zeller Debit Card will be shipped to you, fast and free, when you sign up for Zeller. There’s no paperwork, or need to visit a bank branch. Signing up takes just a few minutes online. You can also order additional Zeller Debit Cards and issue them to your employees so they can make business purchases in-store and online. Create and assign virtual cards With Zeller, you can create virtual cards in seconds. Rather than wait for a physical card to arrive in the mail, simply log in to Zeller Dashboard, create a new virtual card instantly, then add it to your mobile wallet. Make purchases in-store and online Use your Zeller Debit Card to make purchases anywhere Mastercard is accepted — whether that's in-store or online. You can even attach invoices, receipts or notes to transactions made, to help streamline reconciliation and bookkeeping — and get a clearer understanding of every business expense. Track who you’re spending money with Tracking purchases made by staff is simple, with up-to-the-minute transaction lists available in both Zeller Dashboard and Zeller App (coming soon). Plus, Zeller Debit Card works hand in hand with Zeller Contact Directory , Zeller’s in-built contact management system. Purchases made using Zeller Debit Card will appear in transaction lists, complete with information about the business where the purchase was made. This functionality empowers you to track where your money is being spent, and better understand the business you spend with. Streamline reconciliation Budgeting is something every business owner must have a handle on. Zeller makes reconciliation simple by enabling you to leave notes and attach receipts to transactions, so you know the context behind each purchase. Information about the purchases made using your Zeller Debit Card can also be pushed to your Xero organisation via up-to-the-minute Xero Bank Feeds to simplify your bookkeeping and expense management, making tax time that much easier. Add to your mobile wallet With the new Zeller Debit Card, you can leave your wallet at home and make purchases with a tap of your mobile device. When Zeller App launches, Android users will be able to add Zeller Debit Card to their digital wallet. Functionality enabling iOS users to do the same is coming soon. Remote card management If you (or your staff) ever lose or misplace a card, simply lock it from Zeller Dashboard or Zeller App (coming soon). Placing a lock on your Zeller Debit Card will instantly prevent it from being used. Once found, the lock can also be removed by you — there’s no need to speak to our Support team, yet we’re always on hand to help if you need. No strings attached Zeller Debit Card is free for businesses to use — with unlimited purchases, no monthly account fees, no paperwork or need to visit a bank, and no lock-in contracts. It’s the optimal solution for growing businesses wanting to streamline spending without the hassle. Earn cashback rewards When you spend with Zeller Debit Card, you’ll receive regular rewards and cashback benefits from your favourite suppliers, restaurants and retailers, exclusive to card holders. Simplify your business spending today Sign up for your free Zeller Debit Card online and we’ll ship it to you, fast and free. Then, activate your card and begin spending in minutes. Or, purchase your Zeller Terminal Kit — complete with Zeller Terminal, Zeller Debit Card and Zeller Transaction Account — so you can process in-person and over-the-phone payments seamlessly and securely.

Gone are the days when managing your money was synonymous with paperwork, bank tellers, and hidden fees. Enter the new age of business finance with Zeller. In the same way that video streaming platforms replaced movie rental shops, online-only financial service solutions are rapidly becoming the preferred alternative to traditional, outdated business banks. While the idea of perusing aisles of dusty DVDs may fill us with a warm nostalgia, no one is mourning the loss of queuing at the bank. Zeller is one such digital financial institution tailored to Australian businesses. From securely storing and saving your funds to paying employees, invoices and bills, Zeller’s free  Transaction Account has everything you’ve come to expect from a traditional bank account, but with less fuss, and more features designed with the unique needs of business owners in mind. If you’re tired of inefficient processes, paperwork, and complex fee schedules, here’s ten reasons why you should make the switch to a Zeller Transaction Account today. 1. It takes less than 6 minutes to sign up. If you’re 18 years or older, have an active Australian Business Number (ABN) or are a Sole Trader, you’ll be able to sign up in a matter of minutes. The process to sign up for a Zeller Account is simple, and done entirely online. All you’ll need is a current passport or Australian drivers’ licence. Once your identity has been verified, you’ll be able to create your own Zeller Transaction Account – with a BSB and account number – as well as your Zeller Dashboard, where you can access and manage all other Zeller services. For more complex business types such as a trust or company, our team may reach out to you to request some additional information. 2. It’s free. Once your Transaction Account is up and running, there are no monthly fees, and no lock-in contracts. You will only ever pay a fee if you choose to start accepting payments via Zeller EFTPOS Terminal (1.4% per in-person payment, or 1.7% for over-the-phone payments) and/or Zeller Invoices (1.7% + $0.25 per transaction). What’s the catch? There isn’t one. Read more about our transparent pricing here . 3. Create unlimited debit cards and sub-accounts. Zeller Transaction Account is designed to be configured to your unique business needs. You can create as many sub-accounts and Zeller Debit Cards as you like, at no additional cost. You may choose to open one sub-account for storing operating funds, one for tax savings, and one for profits for example. Or, if your team has to regularly pay for expenses, you might create sub-accounts for each member of staff, and then give them each a Zeller Debit Card. Rather than dealing with petty cash or expense claims, Zeller Debit Cards – which can be physical or virtual – take the hassle out of team expenses, while also giving you complete control. Unlike with traditional banks, Zeller cardholders are not required to be signatories on the account, which means only you, as the business owner, will have admin access to your Zeller Transaction Account. 4. See your cash position at a glance with visual charts and quick-access insights. From your Zeller Dashboard, you can access a real-time, single-page overview of your business financial position. A simple chart tracks your end-of-day balance over the last 90 days, allowing you to quickly identify spending patterns and make informed business decisions such as rostering, inventory orders or the best time to push marketing. On the same page, you will find a preview of your most recent transactions, as well as the cash position of all your sub-accounts and debit cards. 5. Pay bills with BPAY. BPAY is an easy and secure way to manage and pay bills online. From your Zeller Transaction Account, you can assign contacts to bills paid with BPAY to track expenses over time, as well as reconcile bill payments with BPAY through Zeller and Xero Bank Feeds. Unlike many banks and other financial institutions, BPAY with Zeller is entirely free to use. Plus you benefit from the combined security of BPAY and Zeller to give you extra peace of mind. 6. Attach invoices, receipts and notes to transactions. Get the full picture when it comes time to do your taxes, reconcile your expenses, or find proof of purchase, thanks to Zeller’s handy feature that lets you attach invoices, receipts or notes to your transactions. Rather than storing payment records or important information relating to transactions in a folder somewhere, store them right alongside the transactions themselves where they can be accessed from anywhere you have an internet connection. It will keep you organised, reduce paper (better for the environment!), and save you time in the long run. 7. Assign contacts and customers to each transaction. Zeller Contact Directory lets you store business and personal details, and assign them to relevant transactions. Whether you’re transferring money, taking a payment, searching for a previous transaction or comparing how much you spend at various businesses, Zeller makes it easy to identify payers or payees. Simply select a contact to view your shared transaction history or direct a transfer. 8. Send invoices and receive online payments. Every Transaction Account holder has access to Zeller’s all-in-one invoicing solution . From Zeller Dashboard, you can choose to create or import a library of items, build customised invoices and send them immediately or at a later scheduled date via email or SMS. Your customers can then pay you securely via an online link using their debit or credit card – no need for bank details means you get paid faster. You can then track and report the payment status of your invoices or send automated reminders to make sure nothing goes unpaid. 9. Streamline your accounting with Xero. Whether you use Xero for invoicing, bookkeeping or both, Zeller’s integration with Xero keeps things simple. By connecting Zeller online payments to your Xero invoices, customers can pay in a click and you can receive your funds directly into your Zeller Transaction Account. Plus, you can sync your Zeller transaction and settlement data with Xero Bank Feeds making end-of-month reconciliation a breeze. 10. Access your business finances on the go with Zeller App. Access your business finances from a tablet or smartphone with Zeller’s top-rated app . From tracking sales and expenses to creating new accounts, issuing cards, and configuring account settings, Zeller’s full suite of tools and features is available from the palm of your hand. We understand that business owners are time-poor, which is exactly why we’ve carefully designed this app to allow you to manage all your finances on the go, simply and securely. If you’re an existing Zeller customer, simply log into your Zeller Account to create a new, free Transaction Account today. If you are not yet using Zeller, sign up for free here and start growing your business with Zeller’s suite of financial tools.