Prepaid cards

Prepaid cards - Efficiency through simplicity

Greater convenience with added control

Barclaycard’s Prepaid card is a simple way to improve business efficiency and help you control the distribution of your company’s funds – whether for purchasing purposes or innovative employee payment processes.

Barclaycard’s Prepaid card is available for companies or public sector organisations with a spend of more than £250k p/a or 100 cardholders.

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Prepaid card benefits

Benefits of Prepaid cards include:

Smarter payment solutions - reduce costs, improve efficiencies and minimise the risks of misuse or fraud.

Improve efficiency - No need to handle large amounts of cash, sign or distribute cheques, issue vouchers or keep track of cardholder bank details.
 
Security - Built in fraud protection, no risk of overspending and card accounts can be remotely blocked.
 
Simplicity – Employees can use a prepaid card just like a normal chip and pin card, all to preset spending limits.

Prepaid card options

Designed to:

Empower employees
A Prepaid card can be given to staff who need access to your organisation's money. The amount they can spend is determined by how much money you decide to load onto each card account, and the transaction controls you choose to apply.

Give you security
Sometimes, it's simply not possible or appropriate to give certain people access to a conventional payment card. A Barclaycard Prepaid card programme can provide a secure, controllable and accountable solution, improving your disbursement processes.

Example uses of company prepaid  cards:

  • Petty cash management – safer, quicker and most cost-efficient than traditional methods
  • Travel and subsistence expenses – avoids time consuming claims handling, scrutiny of payments for authorisation and paper-based forms
  • General purchasing - less need for purchase orders or requisitions that need to be raised and approved, and individual supplier invoices that have to be settled.

Whenever you need to pay people money, such as salaries or per diem (per day) allowances, Barclaycard's Prepaid card programme can give you a huge reduction in administration and the costs associated with it.

At the same time, the recipients of your payments – such as employees, contractors or members of the public – get immediate access to the money. They can use their prepaid card just like a conventional credit or debit card, anywhere in the world wherever Visa is accepted, with protection from theft, loss and fraud.

Example uses of employee prepaid cards:

  • Payroll programmes - an ideal way to simplify the management of your salary or wage payments – particularly for seasonal, part time or occasional employees. It's far easier, safer and more convenient than cash or cheques, and there's no need for your employees to have a bank account.
  • Per diem/Per day allowances - Again, you avoid the costs and complexities of cash, cheque or voucher payments. Your prepaid cardholders don’t even need a bank account and it's easy to process any type of payment, from one-off transactions to repeat payments
  • Travel, relocation payment and other allowances - Give your staff a secure and convenient way to manage and settle travel and subsistence spending, anywhere in the world. And you can monitor and enforce travel policy compliance.

We know that public sector organisations are under unprecedented pressure to meet ever-tougher efficiency and accountability targets. Given the flexibility and the efficiency benefits they offer, prepaid cards have become an essential new payment solution for the public sector.

They can also bring many benefits to not-for-profit organisations, such as central and local government agencies, and charities.

Example uses of public sector prepaid cards:

  • As employers - Our prepaid card programme can provide a smarter solution for paying your employees, particularly temporary staff, or those without a bank account. Our prepaid cards can also be used to reimburse employee expenses or to pay allowances
  • As administrators - Barclaycard's prepaid card programme can streamline everyday purchasing processes, by minimising hard currency petty cash, or to create a highly efficient and controllable solution for employees' travel and subsistence payments
  • As distributors of public funds – our prepaid card can be used to make payments to individuals who may have limited access to more conventional banking services – for example, those under the personalisation agenda.

How prepaid cards work

Setting up your prepaid cards
We make setting up your Barclaycard prepaid card programme as easy as possible, so both you and your cardholders start to see immediate benefits.

We'll support and train your key staff members, give you access to your own secure website, and be there in the future to help you get the most out of your programme.

Prepaid cards can then be:

  • Ordered online via a secure website, and personalised with the cardholder's name
  • Loaded and reloaded up to preset limits via standard BACS or Faster Payments transfers
  • Set up to give you control over the types of products and services your employees can purchase

Barclaycard's prepaid card is highly secure, with Chip and PIN protection, and every transaction is sent to us for online authorisation – avoiding overdrafts and protecting everyone from the risk of fraud.

Managing your prepaid card programme
Where the funds belong to your own organisation, you can decide which transaction data and related management information to receive, including daily reports on transactions and card balances. The data in these reports can be imported into your existing accounting and reporting systems, through a secure online portal.

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