Corporate Card

Business card is a relatively new financial instrument in the product line of Russian banks. It is offered to almost all businessmen when opening a current account in order to simplify access to money and make payments with counterparties more comfortable and fast. The useful properties of the card depend on the issuer and its value.

It should be noted that the business card is the next stage of development and popularization of non-cash payments. It is designed to reduce the use of “live” money and simplify accounting at enterprises and organizations.

What kind of beast is a business card

Let’s first answer the question: business card, what is it and what is its main purpose? In its appearance it is no different from other plastic cards. But as they say: you should not look at the appearance, because everything is important inside. So here as well.

Unlike standard payment cards, which are issued to individuals, a business card is designed for private entrepreneurs or legal entities. Its other name, which is often found in common use – corporate card.

Where the business card is used

For settlements with counterparties

Instead of payment orders that need to be transferred to the bank or sent via a client-bank, a business card user only needs to generate and send a payment to a counterparty using either Internet or mobile banking.

No visits to the bank branch, everything is done remotely and at any convenient time.

For cash withdrawals

Business cards, as well as standard payment cards, can be used for cashing out money when necessary, for example, during business trips of employees.

Previously, the company’s cashier had to go to the bank with a check to get the money, and if the amount is large enough, then hire collectors. Now the accounting department just needs to send a specific amount of money to the card, that’s all.

Corporate card of the legal entity significantly simplifies the work with cash, because there is no need to keep the money in the cash register, hire additional staff to work with money, order collection and security services. It is also easier and simpler to account for cash transactions.

In addition, a business card can also be used to buy things, pay for services, exchange currencies, in other words, it has all the functions of a standard payment instrument.

So, the answer to the question: corporate card, what is it, is very simple. It is nothing but a payment card that is linked to a legal entity’s or private entrepreneur’s current or special account. With its help, access to money on accounts is significantly simplified.

Just like a standard payment card, a corporate card can also be used:

  • Debit card – the client can use only his own money;
  • Credit – the bank sets a credit limit for the client, within which he can make payments or withdraw cash.

Most often in Russia you can find corporate cards of such international payment systems as Visa, Mastercard and the domestic world. There is also their gradation by status: gold, platinum, and, of course, various limited versions.

How to get a business card

Usually, a corporate payment card is used as an additional service when opening a current account. In many banks the number of business cards that can be linked to the account is unlimited, i.e. the client determines how many cards he needs to work with.

It is possible to issue a business card either directly at a bank branch or by ordering it through its official website. The main requirement that many financial institutions set is the availability of a current account.

Therefore, an individual entrepreneur or business manager needs to apply to his bank or open a current account in another bank to get the card. The last variant provides submission of a certain package of documents:

  • passport (for sole proprietors);
  • Articles of Association and Memorandum of Association (if any);
  • orders to appoint a director and chief accountant, as well as their passports (for legal entities);
  • documents for the premises where the legal address is registered.

Plus, the client’s gonna need to be in the department:

  • Write an application of the established form;
  • Enter into a corporate card service agreement.

Business card tariffs from leading banks

In many banks, the cost of a corporate card depends on the service package chosen by the client. Let’s consider the most popular offers from leading banks:

Business card tariffs from leading banks

In many banks, the cost of a corporate card depends on the service package chosen by the client. Let’s consider the most popular offers from leading banks:

Also, the cardholder should take into account the following limits when using the corporate card:

  • Replenishment of the card per day – no more than 100 thousand rubles;
  • Cash withdrawal per day – no more than 170 thousand rubles;
  • Cash withdrawal per month – no more than 5 million rubles.

In addition to the debit card in Sberbank, customers with a revenue of no more than 400 million rubles a year can get a business card. It also costs 2,500 rubles per year. But the cash withdrawal fee is 7%, minimum 300 rubles. Credit card limits are the same as for the debit card.

Tinkoff Bank’s business card

Tinkoff Bank offers to issue a business card immediately upon opening a current account. There is no fee for issuing the card, and there is no fee for non-cash payments.

However, if the client decided to order the card after opening the account, then he will have to pay 490 rubles.

The fee for cash withdrawal or transfer to other accounts ranges from 1% to 15% depending on the package and the amount of transaction.

VTB business card

VTB issues business cards for Visa and Mastercard payment systems. As with previous banks, customers can order unlimited number of cards.

The cost of the service is from 1,200 rubles per year, depending on the package, but there are also packages where the issue fee does not exist (“Premium” package offer “Business Gold”), cash withdrawal at VTB ATMs and other banks will cost 1.5%.

Alfa-Bank business card

Alfa-Bank offers its customers Alfa-Cash cards to get round-the-clock access to their current account.

The issuance of a corporate card is free of charge, but the amount of monthly service depends on the package within which it is issued.

Thus, the monthly fee for the Alfa-Cash Life card is 299 rubles per month, and cash withdrawal limits are set at the rate of 200 thousand rubles per day and 1.5 million rubles per month.