What are corporate cards?

Sarah Hiraki

 · May 27, 2020  · 05/27/2020

Corporate card, company card, company credit card, corporate business card, purchase card – they’re all names for essentially the same thing. No matter what you call them, corporate cards are an essential part of keeping businesses of all sizes organised and growing.

What are corporate cards?

Corporate cards are any payment cards (credit or debit) issued by a company to its employees for use on business expenses such as travel, meals, or supplies. This enables employees to make purchases on behalf of the company without needing to use their personal cash or cards to make the transaction.

Corporate credit cards vs corporate debit cards

Corporate cards come in two main types; corporate credit cards and corporate debit cards. What is a corporate credit card? Corporate credit cards carry a balance that must be paid off at the end of a billing cycle, whereas prepaid debit cards carry no balance, and instead are linked to a debit account. These work largely the same way as their personal (non-corporate) counterparts.

Do I need a corporate card?

Corporate cards come with loads of benefits to the companies that use them. Corporate cards are a more secure way or you and your employees to pay for common business and travel expenses, especially when compared to petty cash. Corporate cards also keep your business more organised –  allowing you to see every transaction on your account in real-time and attribute it to a team member and an expense. Finally, corporate cards take the financial burden off of your employees allowing them to make business purchases without the hassle of requesting reimbursement – this has the added benefit of keeping you on top of the latest  outgoings of your account.

Company cards with Revolut Business

As stated above, corporate cards go by many names, at Revolut Business we refer to them as company cards.

Company cards are available on all of our plans – for both companies and freelancers. Simply choose a plan with the right number of allocated team members.

Not your average company cards

We've added loads of easy to use features your team will love and use every day, designed to fit every size and type of business.

Go borderless

If you need easy, borderless transactions, Revolut Business company cards allow you and your team members to spend in over 150 currencies at the real (Interbank) exchange rate.

End-to-end expense management

Our company cards help you to automate your expenses and capture receipts in the app instantly. We’ll even send your team helpful reminders to add expense details and receipts images, so you’ll never have to nag again. Then it’s up to your accountants and administrators to simply review expenses and reject or approve them – and even upload or import files to their accounting platform of choice.

Ultimate control

As the account administrator, you’re in control. You can temporarily freeze missing cards in your app or web dashboard, enable location-based security to reduce fraudulent transactions, disable contactless, online or swipe payments, and toggle the ability to make cash withdrawals from ATMs.

Easy subscriptions

You can create a virtual card for each of your recurring payments – such as software subscriptions and office space membership. This means never overspending again on subscriptions – you can manage, limit and cancel your subscriptions from one place.

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