When you need to pay for business expenses, a disbursement card is the perfect solution. These prepaid cards work for everything from customer refunds to employee reimbursements, recurring payments, and relief and aid funds. If you’re considering getting a disbursement card, keep reading to learn more about its benefits and fees. A disbursement card is also great for a variety of other uses.
How do you use disbursements prepaid Mastercards?
Disbursements prepaid Mastercards are a great way to reward your team members. You can use these cards anywhere that debit cards are accepted. You can choose to send them in a plastic form, a virtual one, or even a mobile wallet. You can choose to send them in the way that best fits their preferences. To use them for business purposes, you can send them to your employees, partners, or clients.
What fees are associated with a disbursement card?
Before you begin using your disbursement card, you should familiarize yourself with the fees and charges. The new rule requires that card companies make disclosures about the fees and charges associated with their products. This rule took effect on April 1, 2019; however, it may be impacted by bureau phase-in rules. For now, card packaging will contain key fees and other information. They will also list a website where cardholders can find similar information.
If you use your card outside of the United States, you may have to pay a foreign transaction fee. This fee is charged by the card provider, sometimes called a currency conversion fee. It usually is a percentage of the transaction amount but may be a flat fee. Keep in mind that not all cards can be used outside of the United States, so it is important to review the terms and conditions of the card prior to traveling abroad.