Just like what a common bank does, NetSpend tries to help people with their small business by providing financial services. One of the services is a NetSpend Small Business account. This account allows its customers to have a NetSpend master account and more than one subaccount for their employees. NetSpend provides some special features and facilities for its customers of small business account. Here are some facts about it.
Some Features in Small Business Account
A card provided by small business account is called NetSpend Small Business Prepaid MasterCard. It has four main features to support its customers in managing their business. They are related to account management, payment, business management, and additional features for verified business. Some of these features are different from the regular NetSpend prepaid debit card.
For account management, NetSpend provides some facilities to be used via text and online. They include Online Account Center, a mobile banking application namely NetSpend Small Business, and Anytime Alerts. By using these facilities, you can manage both of your NetSpend master account and subaccounts, transfer money to any card, check and export transaction history, and get your business verified easily.
Related to payment, NetSpend allows you to accept payments and do transactions to any card. After opening an account, you can register to ProPay account in order to get this facility. NetSpend also allows you to receive funds via check in a quick way by using mobile check loads menu from NetSpend Small Business mobile app. You only need to take pictures of the check then the money will move to your account.
In relation to verified business, you will get more benefits once your business is verified. Verifying business can be done within 30 days of your account’s activation. The first benefit is you can put your company name on your master card and subaccount cards. Then, you can add to ten NetSpend Small Business subaccount cards in total for your employees to purchase business-related items. In addition, you can also track and control any transaction from subaccount cards by using the app or Online Account Center.
Regarding fees, NetSpend Small Business card account requires some charges for some subjects. Your master account is charged $9.95 for one month while each subaccount is charged $1.95 per month. For each balance inquiry done through ATM and customer service, you will be charged for $0.5. In order to withdraw funds, you also need to pay the fee. If you do it in a domestic ATM, you have to let $2.50 to be charged to your account. Meanwhile, there is no fee charged for PIN & signature purchase transaction and checking balance via email, text, and online.
Those are some facts about NetSpend Small Business prepaid MasterCard. This product is specially designed for small business owners. If you manage one, you can consider yourself to open this small business account since it provides many beneficial features. If you need further information before applying for this card, you can go to NetSpend website on www.netspend.com/small-business or kindly contact its customer service.