PEX Visa Prepaid Card For Business

How We Rated the PEX Prepaid Visa Business Expense Card

Card Features Fees Disclosure Clarity BBB Rating Load Options Overall Rating

Rating Explanation PEX Prepaid Visa Business Expense Card 5 GetDebit.com Editor The PEX Visa Prepaid Business Expense card is a fantastic product to empower employees, as well as control and manage spending. We give the highest rankings for this card due to the excellent pricing and many features available including card personalization, online account budgeting and control, real-time maintenance and awesome reporting package. Also, this card does not allow employees access to cash, which can be a very good control to have. If your company needs a very functional financial expense tool for employees to utilize, then we highly recommend the PEX card. The PEX Visa Prepaid Business Expense card is a fantastic product to empower employees, as well as control and manage spending. We give the highest rankings for this card due to the excellent pricing and many features available including card personalization, online account budgeting and control, real-time maintenance and awesome reporting package. Also, this card does not allow employees access to cash, which can be a very good control to have. If your company needs a very functional financial expense tool for employees to utilize, then we highly recommend the PEX card.

PEX Prepaid Visa Business Expense Card Fee Examples

Want to know how much the PEX Prepaid Visa Business Expense Card might cost you to use in a typical month? We have crunched the numbers for you! We also show how PEX Prepaid Visa Business Expense Cardstacks up against some common alternatives so you can see if you would save money using this card. Please remember -- cost should NOT be the only reason why you pick a card -- make sure to consider the card's features (some cards have more features than a typical bank account).

To see different scenarios, change the following variables.

	Number of transactions each month	PEX Prepaid Visa Business Expense Card	Bank of America "Regular" Checking	Check Cashing Store
Monthly Fee	Once per month	$	$	$
Cash paycheck (per month)	$	$	$	$*
ATM Withdrawals	0 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20	$	$	$
Bill Payments	0 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20	$	$	$
Online Purchases	0 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20	$	$	N/A
In-Store Purchases***	0 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20	$	$	N/A
Overdrafts:****	0 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20		$	$
Total		$	$	$

Note: * Based on a U.S. Average check cashing rate of 4.54% (per the Brookings Institution),
**Using the Money Order fees from the U.S. Post Office (Some of the lowest available),
*** We assume that 1/2 of your in-store purchases will be made using your PIN,
****A LARGE portion of Americans experience at least 1 overdraft each Month. Also note that the Check Casher CANNOT buy items online, and must use cash for all purchases.

Fees Associated With The PEX Prepaid Visa Business Expense Card*

Activation Fee:	$0.00	Card Limit:	$25000
Monthly Fee:	$7.50	ATM Withdrawal:**	$N/A
Signature Transactions:***	$0.00	ATM Balance Inquiry:	$N/A
PIN Transactions:***	$N/A	Bill Payments:	$N/A

The PEX Business Visa has a very easy to navigate fee structure. Every fee is disclosed plainly in the fee schedule. Be aware that the PEX card is designed as an employee business expense tool and has a $49.95 One-Time Program Account Set-up Fee.

Notes:
* Fees verified as of 12/10/2011. Check the Current Terms & Conditions for a list of all the fees.
** Some ATM operators may charge a fee for use of their ATMs in addition to this fee.
*** To use your PEX Prepaid Visa Business Expense Card in a "signature" transaction, select "Credit" when checking out at a brick and mortar merchant. Most internet transactions are automatically processed as "signature" transactions.

PEX Prepaid Visa Business Expense Card Card Options

PEX Visa prepaid business card is geared for companies that empower their employees to make purchases while at the same time, stay in control of their spending. PEX has several features that benefit both business owners and employees. Money can be loaded on staff member's card in less than a minute. Administrative control of card is 24/7 for all account balances, transactions, employee data, funds loading/unloading and card suspension. Daily spending limits, funding rules and illustrative report generation are other important features of the PEX Visa card.

Here are GetDebit’s “Low Fee Tips” for this Card

The PEX Prepaid Visa Business card has a few fees that can be avoided with careful use. First of all, the PEX card does NOT function as an ATM card, so employees will not have access to cash and therefore, not incur ATM fees. There are a few fees that can be avoided administratively that you should know about. First, you should know that if your company spends $50,000 per month, the $7.50 monthly fee is waived. As with any card, instruct employees to be careful not to lose the card. Replacement fees can definitely add up, not to mention the headache of canceling a card. The express card request fee is significant, so avoid that if at all possible. Next, make sure that you have sufficient funds in your bank account before transferring to PEX cards as the ACH Bank Rejection fee is high. Also, when transferring funds back to your bank from the card, realized there is a charge for that. Last, if you have fees due, make sure not to be late in making a payment to card as there is a Late Charge for that as well.

Tips for Using The PEX Visa Prepaid Card For Business

• Loading Funds on your Prepaid Card Using the Visa ReadyLink Network
• Using a Prepaid Visa Card — A Few Tips
• Why Do I Need to Provide a Social Security Number to Get a Prepaid Debit Card?
• Can I Get a Secondary Card on a Prepaid Debit Card Account?
• Lost or Stolen Visa Debit Card?