5 Best Business Prepaid Cards for 2022
Tricia has nearly two decades of experience in commercial and federal government lending. Her expertise is highlighted throughout small business loan content on Fit Small Business.
Andrée Kirk is a Staff Writer at Fit Small Business, specializing in Small Business Banking and Credit Cards.
This article is part of a larger series on Best Small Business Credit Cards.
Editor’s note: This is a recurring post with regularly updated card details.
When you’re searching for the best prepaid card for your small business, consider your spend limit and how many cards you’ll need for your employees. You’ll also want to look at the issuer’s fees and how convenient it is to reload the cards each time the balance is low. You’ll want access to an online and mobile dashboard that allows you to control which merchants can accept the card and allows you to set dollar amounts for daily, weekly, or monthly spend. Since these aren’t credit cards and require no credit check, you can be approved for a prepaid card easily.
The five best business prepaid cards are:
- Bento for Business Visa® Debit Card: Best overall business prepaid card
- PEX Prepaid Visa®: Best for custom payment platform and reporting capabilities
- Dash Prepaid Mastercard®: Best for low daily spend limits
- Netspend Prepaid Visa®: Best for 10 cards or fewer
- Brink’s Business Expense Card: Best for first two cards for free
How Prepaid Business Cards Work
Prepaid business cards are easier to qualify for than business credit cards since there’s no credit check. Once you’re approved, there are often several ways to load funds onto the card. The most common way is to simply transfer funds from your bank account directly to the card. Using the issuer’s online or mobile dashboard, you can set spending limits, select which merchants can be paid with the card, and freeze cards in case of fraud. Keep in mind that most prepaid cards don’t offer rewards, and there are often fees associated with account set up, monthly maintenance fees, and ATM fees.
Bento for Business Visa® Debit Card: Best Overall Business Prepaid Card
Why we like it: The Bento for Business Visa® Debit Card is our choice for the best overall business prepaid card because of its straightforward fee structure and high maximum spend limit. Try Bento for the first 60 days for free with no setup fees or debit fees.
How to Load Funds
Once your Bento card is linked to your business bank account, you can transfer funds from the bank account to your Bento account online. Once your bank completes the transfer from its end, funds will be available in your Bento account within one to two business days. You can also send funds to your Bento account via wire transfer. Your bank may charge an outgoing wire transfer fee.
Additional Features
There are two versions of the debit card: spend limit cards and fixed-value cards. The spend limit card is for everyday purchases and good for managing all business spending in one place. The fixed-value card is best for one-time payments, per diems, or recurring vendor payments. You can also integrate with QuickBooks and other accounting software.
Choose from physical cards or virtual cards that can be added to Apple Pay or Google Pay.
PEX Prepaid Business Card: Best for Custom Payment Platform & Reporting Capabilities
Why we like it: Your employees can use the PEX Prepaid Business Card as a traditional physical card, virtual card, or digital wallet card. You can also integrate PEX into your system for a custom automated payment platform, which enables you to manage all of your payments and process millions of transactions per day. Custom reports allow you to stay on top of transactions reported in real-time.
How to Load Funds
Once your PEX account is linked to your business bank account, you can transfer funds from the bank account to your PEX account online. Once your bank completes the transfer from its end, funds will be available in your PEX account within one to two business days. You can also send funds to your PEX account via wire transfer. Your bank may charge an outgoing wire transfer fee.
Additional Features
Manage your account through the website or mobile app to create merchant categories and determine spend limits. You can also integrate your PEX account with QuickBooks and other major accounting software.
Dash Prepaid Mastercard®: Best for Low Daily Spend Limits
Why we like it: If you anticipate the daily spend of each card to be under $1,000, the Dash Prepaid Mastercard® may be the best choice for your business. With no setup fee or monthly fee, the Dash card is essentially free to use as Dash takes a percentage of each sale from the merchant. There’s no limit to the number of cards you can order.
How to Load Funds
Once your Dash account is linked to your business bank account, you can transfer funds from the bank account to your Dash account online. Once your bank completes the transfer from its end, funds will be available in your Dash account within one to two business days.
Additional Features
- Automatic load request approval: Employees can enjoy automatic approval when they make a load request within their limit.
- Automatic reloads: Dash will initiate a bank transfer when your account falls below a predetermined amount.
- Paperless receipts: Every transaction is captured in the Dash app with the merchant’s name, category, and date of purchase. Users can add additional expense details, such as expense categories, receipt photos, and purchase details.
- Daily Summaries: Keep informed of transactions, card balances, and deposits with daily summaries via email or text, or opt for push notifications with every transaction. You can also opt to be notified when the main account balance is low.
- Freeze/unfreeze cards: You can freeze lost or misplaced cards through the Dash app. You can also unfreeze the card through the app when the card is found.
- Integrate with QuickBooks: Export your transaction history with QuickBooks and other major accounting software.
Netspend® Small Business Prepaid Mastercard®: Best for 10 Cards or Fewer
Why we like it: If your small business only has a few employees, the Netspend® Small Business Prepaid Mastercard® is a good choice since the total account limit is just 10 employee cards. Unlike other prepaid cards, there’s a variety of ways to load funds onto the card. Plus, the card allows ATM access with a fee.
How to Load Funds
There are several ways to load funds onto the Netspend® Small Business Prepaid Mastercard. You can transfer funds from your business bank account, add cash through a physical load station, or transfer from a credit card or debit card.
Additional Features
If your employees frequently make online payments, you can add up to six virtual accounts under the master account. In addition, you can accept payments from customers if you opt for ProPay®. ProPay® accepts credit and debit card transactions through your company’s website or an AndroidTM or Apple® mobile device and a ProPay® card reader.
Brink’s Business Expense Card: Best for First Two Cards for Free
Why we like it: The Brink’s Business Expense Card gives you the first two cards (one owner card and one team card) for free. You also get a 60-day free trial and low to no fees.
How to Load Funds
Once your Brink’s card is linked to your business bank account, you can transfer funds from the bank account to your Brink’s account online. Once your bank completes the transfer from its end, funds will be available in your Brink’s account within one to two business days. You can also send funds to your Brink’s account via wire transfer. Your bank may charge an outgoing wire transfer fee.
Additional Features
From the admin dashboard, you can issue a virtual card in only a few minutes for single-use and recurring purchases. The Brink’s card also integrates with QuickBooks and other major accounting software.
Alternatives to Prepaid Business Credit Cards
- Small business credit cards: Small business credit cards allow you to float expenses while growing your business. Save money with low introductory and ongoing interest rates and relevant rewards, and also grow your credit score.
- Purchasing cards (p-cards): P-cards are for business-to-business (B2B) purchases. Like a charge card, the balance must be paid in full monthly.
- Secured business credit cards: Secured business credit cards are a good option for those who cannot qualify for a non-secured card due to poor credit or low or no credit history. In time, with consistent on-time payments, you can grow your credit score and qualify for a nonsecured card.
How We Evaluated Business Prepaid Cards
To determine the best business prepaid cards, we considered cost, load limits, and spending limits, as well as convenience. We also looked at fees and the process of loading additional funds.
Bottom Line
The best prepaid cards give your organization the freedom to skip the paperwork of expense reports, purchase orders, check reimbursements, and petty cash. As long as you have cash on hand to continuously reload the cards, prepaid cards are a convenient method of payment for both you and your employees. If you’re interested in a card that earns rewards, or you might prefer a monthly billing plan, look at our choice of best small business credit cards.
