Expenses are about to get a whole lot easier.
The next time you buy a team lunch, take a client out for coffee or buy equipment, you can put away your personal card and avoid waiting to get reimbursed.
The true cost of expenses
Traditionally, expenses are a fraught experience for employers and employees alike.
According to the Expenses Economy Report (2018), almost a third of respondents in the UK have asked friends or family for cash while waiting for company expenses to be reimbursed. Furthermore, nearly a third (32%) used their own credit card or personal overdraft while waiting.
To make matters worse, more than a fifth have had to wait longer than a month. Each year, an estimated £3.5 billion worth of expenses go unreimbursed thanks to current business expense policies.
Some of the most common reasons for going unreimbursed? Losing the receipt, entering the wrong description by mistake, missing the deadline, or a mistake on the part of the accountant.
Thankfully, Receipt Bank offers a solution.
Introducing the Receipt Bank Credit Card
The Receipt Bank Credit Card has been designed with Capital On Tap to give you a one-of-a-kind business card. It’s one that you can use alongside Receipt Bank to reimagine what your expenses might look like.
With the card, you can enjoy:
- Instant credit approval of up to £50,000
- Up to 56 days interest-free on card purchases
- Unlimited additional cards, which you can manage online through one admin sign-on
- No annual fees
JOIN CAPITAL CLUB
Everything you get for free, plus you can choose these rewards on all card spending:
- Earn 1 point for every £1 spent
- Redeem 2 points for 1 Avois or 0.5% cashback
- 10,000 bonus points when you spend £5k in your first 3 months.
£99 / year
JOIN ON TAP CLUB
If you join On Tap Club, you can redeem just 1 point for 1 Avios or 1% cashback. Similarly, enjoy 20,000 bonus points when you spend £5k in your first 3 months.
£249 / year
Integration with Receipt Bank and Xero
If you use Xero, you can enjoy a seamless integration and see your card spend data quickly and accurately.
Within just 12 hours of using the card, you’ll see the data in Receipt Bank. When used in combination with other Receipt Bank features such as Invoice Fetch and Bank Match, you can further simplify the reimbursement process and welcome in the future of employee expenses.
Want to find out more? Watch the on-demand webinar here.
WHAT’S BEEN SAID ALREADY?
“We’re very happy with the features and use of the Receipt Bank Card. As it integrates perfectly into Xero, we’ve moved our entire Practice to the Receipt Bank card. Now we’re comfortable with all the card’s features we are recommending to our clients who are looking to streamline their employee reimbursement process. As more clients use the card, we’ll save more time in offering quicker booking keeping to our clients.
It was so quick and simple to get set up and the administration portal makes it very easy to control spending limits. Based on the clients we have analysed so far they would all benefit from cost savings of using the card thanks to the cash back and no FX charges”Jon Jenkins, Finance Director, Smart Accountancy Systems Ltd
We are loving the Receipt Bank Card. We can’t fault it. The direct feed in Xero is working great. We are beginning to suggest the Receipt Bank Credit Card to our clients as well, as we feel it is a leading expense solution for them and it saves our practice time and money in quicker and more efficient bookkeeping.Will Jarvis, Data Collections Manager, MAP
*The card is issued by New Wave Capital Limited pursuant to license by Visa Europe Limited. New Wave Capital Limited is authorised and regulated by the Financial Conduct Authority (FCA), licence number 625592. VISA is a trademark owned by Visa International Service Association and used under license.