Payment card for staff

[unstoppable]

Hi,

I'm wondering if there is a solution for my scenario out there. I have a staff member who I would like to delegate all the day to day online purchases to. But I do not want to give my business debit card to that person. I can't be the only person with that concern out there. What do other business people do? Is there a debit card solution out there that I can use? Perhaps a card which I can 'load' on demand with the correct amount for the staff member to carry out the purchases?

Thanks.

 

[billybob99]

You should check out Tide - been using it for yonks.

This is the bit for you.

How do Team Cards work?

You can order a Tide Mastercard for up to 35 team members per account – and this applies to your main account, as well as any additional Tide accounts your business has.

Team Cards are the first step on the journey towards full team access. So, for now, Team Cards will be managed through a single app belonging to the main account holder. They’ll be able to fully manage access for their team – freezing and cancelling cards, as well as sharing and holding PIN codes – and they’ll be able to see who’s spent what.

If on the other hand you are literally talking about 1 person, then Curve is a better solution. Been using this a while as well.

You can link several cards to the 1 card they send you. You can control which card you want the main card to charge when using it.

 

[unstoppable]

Thanks, that looks good. Can you use it in conjunction with your regular business account or does it have to replace your existing business account where all the money comes in from sales.

 

[billybob99]

Thanks, that looks good. Can you use it in conjunction with your regular business account or does it have to replace your existing business account where all the money comes in from sales.

I wouldn't say you need to replace your main business account with it. But you will get your own sort code and account number, you will have to transfer funds to this account first via your main business account, then those funds will be available to spend for your staff members.

You'd have to just account for all of this when doing your accounts.

You might be better off using Curve, and linking your real business debit card to the card they send you, and give that card to your staff.

 

[unstoppable]

Ah I see. Although transferring funds from my HSBC account to Tide every time will be a pain because HSBC processes are cumbersome.

I've looked at both cards now and I think I'm a little confused with all the information now!

My ideal scenario is this: I want my staff to buy some ink for printer. I quickly make some money available on a card for them to make that purchase only. Once the purchase is made they don't have access to any more funds. If purchase is not made for some reason, I can disable the card in some way. Also I want to be able to easily track what money was spent on what when doing VAT return and yearly accounts.

What's the ideal solution keeping the above scenario in mind?

Thanks.

 

[pentel]

We give some of our staff a credit card with a monthly spending limit. Before issuing the cards we have an agreement signed which details what the cards can be used for and just as importantly what they can't be used for.

Also included is a clause to claim back any inappropriate expenditure.

This works for us, we trust our staff and that trust is usually repaid.

 

[ecommerce84]

I echo what Pentel describes above.

I was given a business credit card by my previous employers and it had a credit limit, and it was set out as Pentel describes with what it should and shouldn’t be used for.

 

[Mr D]

I know a couple of businesses where they had a separate current account with the same bank and kept a certain amount of money in the account.
The staff had access to the card for that account as needed. They could not use it to drain the main bank account dry. At best a thief using the card could steal a grand or so.

 

[arnydnxluk]

A credit card with appropriate limit makes sense in this scenario. I used Barclaycard for my last business - limits could be set on a per cardholder basis IIRC, should do the job.

 

[Newchodge]

If you are going to spend time transferring the value of an ink cartridge between accounts, then perhaps transferring the value of a pack of paper, then transferring the amount for some toilet rolls, you may as well make the purchases yourself. Work out the likely weekly spend, transfer that amount every Monday and reconcile the account every Friday.

 

[billybob99]

If you are going to spend time transferring the value of an ink cartridge between accounts, then perhaps transferring the value of a pack of paper, then transferring the amount for some toilet rolls, you may as well make the purchases yourself. Work out the likely weekly spend, transfer that amount every Monday and reconcile the account every Friday.

This, and there probably has to be some element of trust.

Your time is probably not well spent, transferring tiny amounts of money for each and every purchase.

That or you need to get hooked up with Amazon Prime Business.

 

[Noah]

A credit card with appropriate limit makes sense in this scenario. I used Barclaycard for my last business - limits could be set on a per cardholder basis IIRC, should do the job.

Suggestion seconded - NatWest Mastercard in this case.

 

[Keith Ahmed]

Hi there,

You could try rocketcard co uk if you get approved you can have up to 10 cards per account. There are no annual or monthly fees and up to 56 days interest free credit.

Hope this helps!
Keith