There is nothing better than the convenience of managing your finances from your smartphone – you can do it at home or when you are on the way with ease. The good news is that iCard also takes care of your business income and expenses, thanks to iCard for Business.
Today, we will discuss the platform’s functionalities and benefits in detail and how you can unfold the potential of your company finances.
What is iCard for Business?
iCard for Business is a better solution than the traditional bank account – it is an online banking service suitable for big and small companies, freelancers, and start-ups alike. The platform is available on desktop and mobile for 2.99 EUR/month only.
Employers can open accounts in 8 currencies – BGN, EUR, USD, GBP, CHF, RON, CZK, and PLN. Having access to your business finances saves time and money, and you can easily manage salary payments, make mass payments and payments to budget organisations*, order business expense cards, and delegate user rights to employees of your choice to authorise the transactions within your business account.
*The service is available for the Bulgarian market only and has a fee of 1 BGN.
Transfers and business account management
With iCard for Business, you can send and receive BISERA and blink transfers in BGN, international SWIFT transfers in various currencies, SEPA and SEPA Instant transfers in EUR, and free transfers between other iCard accounts. The daily exchange rate applies if you send money to and from an account in a foreign currency.
You can have up to 200.000 EUR monthly turnover, generate monthly statements, and determine your card limits. The newest functionality of the business module – “Payment request”, gives you another way to get what you are owed and fund your account. With iCard for Business, you can easily track every expense or income of your company in one place, and opening an account is fee-free and can be completed entirely online.
Cards
You can have two types of cards with iCard for Business – business expense cards and employee cards.
The business expense cards are debit cards that are linked to the main iCard for Business account and have higher limits. They are used for payments to suppliers, invoice and subscription payments, or other business expenses. You can get up to five cards in three currencies – EUR, BGN, and USD. If you need more, you can contact us and request a higher amount.
The employee cards are prepaid Mastercard debit cards in EUR or BGN that can be topped up from your main iCard for Business account anytime. You provide simple access to the necessary amount of money for each employee, and you can track their business spendings. The employee cards are ideal for fuel, transportation, and business trip expenses. You can set individual limits for greater security – for ATM withdrawals or online payments, for instance. You will receive real-time notifications for every transaction, and you can download your monthly statements to track all expenses. You can order up to 100 cards.
Payroll module
As an employer, you can easily pay salaries with iCard for Business. Thanks to the payroll module, you can create a complete list of all your employees and their bank accounts. You only need to fill in their details once – such an automated process eases your future monthly payments. You can also order debit cards for every employee using the same module.
The process is quite simplified and brings lots of advantages for your employees. They do not need to visit a bank and wait in line to open an account. Instead, they can download iCard Digital Wallet and get their salary hassle-free. Opening an iCard account is completed entirely online, and they can benefit from all other services of the digital wallet afterwards.
Mass transfers
The salary payments are one example of making mass transfers. If you want to send money to multiple recipients simultaneously, regardless of their residence and account currency, you can easily make such payments with iCard for Business. You will need to create a list with the recipients and their bank account details, which you can fill in when you log into your business account through the online platform.
The service is perfect for payments to partners and suppliers, and you can make recurring payments when you have any regular expenses. Thanks to the module, all recipients’ details are saved in your account, so you do not have to worry about losing them the next time you need to make such payments. You do not need to remember the payment due dates either.
Payments to budget organisations*
You have fines from the traffic police, your insurance expires soon, or it is time to pay your taxes? With iCard for Business, you can cover all your liabilities in a few steps, and you no longer need to wait in lines. Thanks to the business module, buying e-vignettes and paying your bills saves you time and effort.
You can cover both your personal and company liabilities and those of any third party. You can make mass transfers to complete multiple payments to different organisations at once, too.
Any payment to a budget organisation is simplified – you do not need many details to make it, and you can use the template from previously completed payments. You can find all payments to every budget organisation in one place – it is as simple as that.
*The service is available for the Bulgarian market only and has a fee of 1 BGN.
What’s new in iCard for Business?
“Payment request” is at your disposal to manage your business income easily. If you do not have an online shop or a POS terminal, this service is the ideal way to receive payments from your clients in EUR or BGN. With iCard for Business, you can generate a payment request link, which you can send via email, SMS, or any chat mobile app. Clicking on the link redirects your clients to a safe and secure webpage where they can complete the payment.
When you generate a payment request, you can also attach a document (an invoice, a receipt, etc.) that corresponds to the transaction. When the client has completed the payment successfully, you will receive a notification, and the amount will arrive in your business account immediately. You can track every transaction via the iCard for Business online platform.
What else?
If you do not have enough time throughout the day but you have a trusted employee, you can delegate user rights to them to manage your business account. This can be your accountant, office assistant, or another employee, and you define the limits of his rights.
The iCard for Business module shows you a complete overview of each transaction of your business funds, so you are up-to-date with every movement. You can generate statements for your account dating back six months or a year, which helps you track every income and expense for this period conveniently.
Last but not least, iCard reassures the safety of your personal and business funds. As an e-money institution licensed by the Bulgarian National Bank, with more than 15 years of experience in the field, we cannot compromise with security. Your payments and data are always safe with iCard.
You can open a business account in a few steps. Do not hesitate to contact us if you need any assistance!
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