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Getting a Business Prepaid Card for your Business Bank Account

How to Get a Business Account Debit Card:

  • Open a business account – Once you have found the right type of business account for your business you will need to go through the standard onboarding process and produce the required documents such as a business license. You will also need a minimum deposit.
  • Apply for a business debit card – Once your business account is approved you can apply for a debit card. This is usually a simple procedure.
  • Choose a PIN – Either the bank will allocate a PIN number to your card or you will have to choose one. Choosing a PIN is usually the final step in getting a debit card for your business account.

Load your Business Account’s Prepaid Card

Once you have a business bank account and an associated debit card you can transfer funds from your checking account to the prepaid card. The easiest way to load your prepaid card is by a simple electronic transfer via your bank’s website. A transfer of this kind can take up to 4 days.

To make a transfer from your checking account to your business account’s prepaid debit card you will need access to your bank’s website; your bank account number and the routing number associate with your card. For security reasons some banks only permit transfers that are linked to your own bank account but others require you to create an external account associated with your card to where funds will eventually be transferred. There are also financial institutions that permit transfers to your prepaid card from authorized accounts of business associates, friends and family. There is usually no fee for reloading your card although there may be a fee depending where the funds are coming from.

Load your Business Account’s Prepaid Card from a Checking Account

It is possible to load a prepaid card with a direct deposit from an employer. An ACH transfer can be set up on your bank’s website to transfer funds from a checking account to your prepaid card. The ACH (Automatic Clearing House) executes an electronic transfer to your prepaid card as if it were from one bank account to another account. Another option is to make a visit to a brick-and-mortar bank branch to load your business prepaid card from a checking account.

Having a prepaid card for your business account can be extremely useful and can eliminate complications associated with the traditional methods of payment. A business prepaid debit card also avoids overspending and only gives access to a set amount that has been uploaded onto the card. For a business to get a debit card it needs to have a good credit history and positive relationship with the bank. Without good credit small businesses may not be issued a business debit card but generally it is a straightforward procedure.

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