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#244 - 12/18/00 09:43 PM Business debit cards
Anonymous
Unregistered

Does anyone offer debit cards to business customers? My institution is considering this and is looking for current practices - such as obtaining authorization, security concerns, etc. Any guidance would be appreciated.

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General Discussion
#245 - 12/19/00 04:53 AM Re: Business debit cards
Andy_Z Offline
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Andy_Z
Joined: Oct 2000
Posts: 27,748
On the Net
Authorized user concerns have made us shy away from this.

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Andy Zavoina
Opinions stated are not necessarily that of my employer.

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#246 - 12/20/00 01:39 PM Re: Business debit cards
Bear Collector, CRCM Offline
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Bear Collector, CRCM
Joined: Nov 2000
Posts: 1,830
District of Columbia
Our bank does offer this service to our business customers. I spoke with a representitive from that department, and he stated that this has not been a problem so far. Remember, Reg. E does not apply, so if we have to investigate a claim, we do not give provisional credit, nor are we under any time constraints. We sometimes issue cards to only one signer on the account, and sometimes to more than one; we leave it up to the business to determine how many authorized signers will be allowed access devices. We also do not allow as high a daily withdrawal limit on the business debit cards as on our personal cards. The customers must sign for each card, and the responsibility for tracking usage and preventing abuse is on the business.
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#247 - 12/20/00 08:07 PM Re: Business debit cards
PABanker Offline
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PABanker
Joined: Dec 2000
Posts: 491
Blue Ball, PA 17506
Our just started offering Business Debit cards. Please contact me at 717-354-3628, if you ae interested in our approach. Thanks.

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#248 - 12/20/00 09:59 PM Re: Business debit cards
D. Whitney Offline
New Poster
Joined: Nov 2000
Posts: 22
Hermitage PA US
We also just started offering this service. We issue separate cards & PINs to each employee that our business customer authorizes. The transactions are listed on the business customer's deposit statement with the employee name listed along with the merchant/location where the card was used. Our business customers love it - no more expense checks, petty cash funds, advances, etc. Our bank has issued separate cards and PINs to joint account holders for years and found this system worked well for married couples too.
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#249 - 12/21/00 02:01 PM Re: Business debit cards
Dana Turner Offline

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Dana Turner
Joined: Dec 2000
Posts: 543
Pipe Creek TX - U.S.
Bank of America offers both personal and business VISA debit cards. Some of us who travel a lot use the business card in lieu of a credit card. Same receipt, monthly statement and easy reconciliation.

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Dana Turner
Security Education Systems
danaturner@bankersonline.com
210-310-0212

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