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Get to Know the Netspend® Small Business Prepaid Mastercard®

Jan 11, 2018

small business owner working

“Small business” means different things to different people. It may be a side business or side hustle that grew out of a passion or hobby. Some people make crafts or do consulting work for extra income, but also have a full-time job.

Some small business owners are self-employed with a full-time job or home business, like a contractor, freelancer, landscaper, or a hair stylist. Others might have a truck or a store with a couple of employees, like a coffee shop, clothing store, or food truck. Small business owners may have a LLC, a sole proprietorship, a partnership, or work on their own.

Small businesses come in all shapes and sizes, and they all want to grow, which depends on how they manage their income and expenses. That’s why we created the Netspend Small Business Prepaid Mastercard–so that small business owners like you have the financial tools that help you manage your finances.

Here are just a few of the things you can do with your Netspend Small Business Prepaid Mastercard:

(ID verification required.  We will ask for your name, address, date of birth, and your government ID number. We may also ask to see your driver’s license or other identifying information. Restrictions apply.  See or card pack mailer for details. Residents of Vermont are ineligible to open a card account.)

  1. Separate Personal and Business Finances1
    It may seem easier to get started with your small business using your personal account if you have one. It’s faster than taking the time to set up business accounts. But, as your small business grows, the lines start to blur between your personal life and your business life. It happens with your time and with your money.

    This can be a problem, because when you have rent, gas, food, supplies, doctor visits, and advertising costs all mixed up in one account, it can be hard to see how your business is doing.

    With the Netspend Small Business Prepaid Mastercard, you have a dedicated account for your business’ money and expenses to go, so you’ve always got a handle on how you’re making money. It also keeps you organized because all of your small business transactions are in one place, and that makes managing your business, and filing taxes, simpler.

  2. Accept Payments
    Some customers pay in cash, some customers pay by check, and some pay by card. The Netspend Small Business Prepaid Mastercard has got you covered there, too.

    Paid in cash? Just go to any of the 130,000 locations in the Netspend Reload Network and load the cash to your Small Business Account.

    Paid by check? You can use Mobile Check Load to take a couple of pictures of the check and load it to your Small Business Account through the Netspend Small Business Mobile App.*

    Paid by card? Netspend has partnered with ProPay®2 so you can swipe credit cards, debit cards, and prepaid cards using a small mobile phone accessory.The Netspend Small Business Prepaid Mastercard lets you accept payments and conduct business wherever you are.

  3. Print Your Small Business’ Name On Your Card
    When you’re serious about your small business, you want to show it.  Your card isn’t just any card, it’s your small business’ card.  Suppliers and service providers know you’re the real deal when you present your card to them and they see your small business’ name printed right next to your name.

    Verify your business
    3 with Netspend and request to have your small business’ name printed on your card,4 and everyone you buy from will know you mean business.
  4. Employee Subaccounts5
    Maybe you have one person working for you or maybe you have more. They might work part time or they might work full time. But at some point, they’ll probably need to buy supplies, gas, food, or something else your small business may require.

    You can ask them to buy it with their own money and reimburse them later, but that’s not fair to the employee.  You can hand them cash, a check, or your card out of your wallet, but you take a risk trusting them with any of those.

    Instead, you can create a subaccount with your Netspend Small Business Prepaid Mastercard. Your employee will receive their own card where you control how much money is available on it. You can even limit the type of stores where they’re allowed to use it or sign up to receive a text message* every time the employee makes a transaction.

    Subaccounts let you stay in control while allowing your employees to make purchases everywhere Debit Mastercard is accepted for your small business when needed.

And that’s just scratching the surface. We’re excited that we can now offer this account to you, but we’re even more excited to see what amazing things small business owners are able to do with it.

If you want to learn more, go here. Ready to order a prepaid card for your small business? Sign up here.