Every modern business needs an effective solution for managing corporate finances. It has to save valuable time and effort. The iCard for Business account is one such solution, suitable for every type of business: from freelancers, through small family businesses or new start-ups, to large international companies.
With this business account of new generation, every iCard client has more control over corporate finances than with a standard bank account, and he or she can manage company funds 24/7, from anywhere in the world. Everyone who chooses iCard for Business gets access to many services that facilitate and optimize the execution of financial transactions through a smart mechanism that reduces the costs to an absolute minimum.
Here are some of the services available with iCard for Business: accounts in multiple currencies, web and mobile banking, business debit cards, advantageous money transfers around the world, inquiries for easy accounting, option to delegate rights to certain people in your team, mass transfers…
The perks of iCard for Business are countless, but one of the most used by our customers is the innovative system for making mass payments, including salaries. With the payroll programme of iCard for Business, customers can make money transfers to many different recipients with a single payment order. Long story short, this is the end of the tedious tracking of dates, late payments, and lost time for entering details in online banking each month. Paying salaries is easier than ever with iCard for Business.
1. No high fees for money transfers
Excessive costs when paying salaries to employees can be avoided with iCard for Business. The business account in iCard is the best solution for your business, whether it operates in one market or develops an international activity. With the opportunity to make mass payments, transfers to a large number of recipients are much easier, regardless of whether their accounts are in the currency of the sending party’s business account or another currency. With iCard for Business mass transfers of funds can be made in more than 10 currencies.
An additional advantage is that all payments can be monitored in real time in the mobile app or web platform. Another plus is the notifications for transactions made with the cards connected to the business account. The employer is informed of all activities, even without logging in.
2. Lower risk of mistakes, complicated, and awkward situations
Making a mistake when transferring the salary of an employee is an extremely awkward situation. Every employer would prefer to avoid it. Unfortunately, this happens way too often when the process is done manually. The payroll programme of iCard for Business reduces the chance of making mistakes and saves effort and time.
Paying salaries has never been easier and more accessible to employers who are not professional accountants. To start the process, the client should enter the data of one or more employees. These personal details – name, personal ID number, mobile number, are added manually or by one-time filling in of an automatically generated table according to a sample. If the data table is successfully saved, it can be used for further transfers to the employees’ accounts.
Once the free personal accounts of the employees are activated in the iCard digital wallet, the IBAN of each of the accounts will be known, so the transfers will be made immediately. Only a few seconds later, the recipients can use their money. This is the end of waiting for the salary to “arrive on time”.
3. Special benefits for all employees
iCard for Business allows employers to provide their employees with special benefits. Every team member gets plenty of perks:
- Each employee will get a personal IBAN account in iCard which provides 24/7 access and control over their finances through the mobile app and web platform, as well as a free debit iCard Visa card. With iCard Visa, he or she can pay online or in stores all over the world.
- The employee will receive all payments instantly.
- The personal account and the debit card of the employee come without any fees for opening or servicing.
- The employee can use all the advantages of the financial app iCard – contactless payments with phone or smartwatch, free virtual cards for online shopping, free instant money transfers to/from other users of iCard, digitalizing loyalty cards, insurances, and much more.
- If the employer wants, tailor-made, co-branded cards with a special design can be issued for all employees of the company.
- Except for the personal debit cards, the employer can order the issuing of business cards for employees – debit cards connected to the business account of the company. The idea is to make the process of spending easier and more transparent. The employer can always monitor and freeze/unfreeze the business cards.
4. Giving your employees rights to perform financial operations
With the iCard for Business payroll programme, any employer can give exceptional rights to third parties. He or she can choose to entrust the procedure for making mass payments to a person from the company who is not registered as the account holder – an accountant or other specialist, for example.
The employer chooses to whom and what rights to give. In this way, you can provide or restrict limited access to employees from different departments. This function of delegating rights to perform financial transactions represents an additional level of protection of the money and confidential information.
You can register your business account at icard.com/bg/business or in the mobile app iCard for Business. Open your new business account in a few minutes.