Business Debit and Deposit Cards Flashcards
Business Debit Card
Positioning
Simple/convenient way for business owners to manage everyday business expenses, deposits business purchases and withdrawals
Business Debit Card
Capabilities
Deposit at BofA FC or most BofA ATMs
Everyday business purchases with cash withdrawal
Transfer funds from checking
Business Debit Card
Features
Up to 15 accounts linked to each card $1,000 withdrawal ATM limit Daily limit on purchases ----- up to available balance ATM fee if not from BofA
Business Debit Card
Benefits
Replace petty cash for easier expense tracking
Anywhere visa or MasterCard debit are accepted
Purchases itemized in monthly and online statements for easier tracking
Quick order new cards using mobile app
— receive digital version while waiting
Fraud monitoring
24/7 ATM
$0 liability guarantee
Business Employee debit card
Positioning
Ideal for business checking account holders whose employees travel, work in field locations internet purchases and other routine purchases on behalf of the business
Account signer can customize daily spending limit on each employee debit card
Business employee Debit Card
Capabilities
Card must be requested by authorized signer
Spending limits and point of sale (POS) can be independently set and modified
Business name and employee name are embossed on card
Business employee Debit Card
Features
One checking account linked
ATM withdrawal limits $100 can be higher or lower by owner
Limits on purchases = $400 daily (can be adjusted either higher or lower by the owner
Business Employee Debit Card
Benefits
Replace petty cash for easier expense tracking
Anywhere visa or MasterCard are accepted
Purchases itemized in monthly and online banking statements for easier tracking
Quick order new cards using mobile banking app
— receive digital version while waiting
Fraud monitoring
24/7 ATM withdrawals
$0 liability guarantee
Business Deposit Card
Positioning
Owners who have employees or runners that make deposits
Employees/runners can only Deposit and cannot complete transactions or withdrawal
Business Deposit Card
Capabilities
Restricted deposits only
Card must be requested by authorized signer
Business name and employee name are embossed on card
Business Deposit Card
Features
Up to 15 business accounts linked to each card
ATM Fee - None if BofA is used
Business Deposit Card
Benefits
No envelopes or deposit slips
24/7 ATM
Each card ha a unique card and PIN number
Multiple cards may be issued if requested by business signer
