CardEx Expense Cards are reloadable prepaid debit cards that are designed for
and distributed by corporations with multiple employees, that wish to have a
simple, cost efficient and flexible payment system than corporate credit cards
or reimbursement checks. Prepaid Expense Cards allow corporations, as
employers, to advance expense dollars to their employees by loading money onto
the card on a periodic basis. This becomes a costeffective alternative to
issuing, printing and mailing paper expense checks, and consequently, employers
avoid fraud costs associated with loss and theft of such checks. Employees can
then use the card for purchases at any Visa
or MasterCard location
worldwide. They can also access their expense funds at ATM or POS terminals.
Additionally, for employees underserved in their financial institution
relationships, receiving expense dollars on an Prepaid Expense Card eliminates
the often high expenses related to check-cashing merchants.
Financial institutions providing banking and/or expense processing services to
commercial clients, find that CardEx Prepaid Expense Cards are an exciting,
value-added compliment to their existing product offerings. By issuing Prepaid
Expense Cards, a bank can strengthen its asset base and commercial customer
relationships, while also enjoying the benefit of decreased non-customer lobby
traffic for check cashing.
Below, we've answered general questions that detail how the CardEx Prepaid
Expense Card program works, and how it can benefit your organization.
General Questions
Q: Who is CardEx?
A: Card Express, Inc. (CardEx)
provides a standard Prepaid Expense Card Program featuring
the MasterCard or Visa logo. The company is a technology-driven
developer of numerous prepaid debit card products and
services. These software and online innovations are
designed to consistently offer sales and customer service
experiences that exceed your expectations.
CardEx has been a pioneering presence in the prepaid
debit card industry since 1995 and enjoys a reputation
for world-class service with strong emphasis on infrastructure
and technology innovation.
Q: How does a CardEx Prepaid Expense Card Program differ from a
typical expense application?
A: Prepaid Expense Cards are MasterCard or Visa-branded
and are similar to regular credit and debit cards. The difference: Employers
fund the card with an employee's advanced expense dollars. Specifically, the
employer sets up employee accounts through a customized, Web portal and funds
Prepaid Expense Cards individually or through a batch process via file or ACH.
Due to the nature of the program (individual credit histories are not
considered), all employees are pre-approved. The production, distribution and
reconciliation of paper checks are eliminated, reducing the overall expense
processing costs. Most importantly, little or no changes are required to the
existing expense process.
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Setting up a Prepaid Expense Card Program
Q: How do I design and develop my program?
A: When you offer a Prepaid Expense
Card Program, you will determine its rules and parameters,
including its:
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Employee recipient list |
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Funding method |
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Load amount limits |
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Withdrawal limits |
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Card design, packaging and distribution |
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Card PIN determination |
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Web Portal access (both view and update authorization information) |
Anowledgeable CardEx Implementation Associate will work with you to establish
the parameters and set up your program. Prior to the program launch, this
Associate will provide training and support related to managing the program via
the web Portal.
Q: How and when will I use the Portal?
A: The Portal is used for basic Program Administration
functions, as well for generating multiple reports, which enable you to easily
and effectively manage all program aspects. Specifically, access to the Portal
allows you to:
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Enroll employees to create a card |
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Open and close employee accounts |
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Update employee information |
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Fund card accounts |
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Transfer funds to the financial institution |
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View card funding history and expense activity |
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Highlight or flag any program issues |
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Access standard daily, weekly and monthly reports |
Q: How do I implement the program with my employees?
A: CardEx ensures easy customization by providing
program templates and document samples for enrollment, marketing and employee
training. Guidelines for using the documents and rolling out the program are
also provided (However, you are responsible for your own legal/compliance
review of the product materials.). In addition to understanding the expense
program, it is important that your employees learn to access the Portal to view
and print their personal account and transaction history.
Q: What if I need to terminate one of my employees enrolled in the
Prepaid Expense Card Program? Or otherwise close their
access to the program?
A: As an employer/program administrator, you can close
card accounts directly through the Portal following a defined process that is
included in the training process. Cardholder accounts can be closed as a result
of employee termination, or card fraud or abuse. An employee cardholder, can
opt out of the program due to job resignation or other voluntary reason. If the
cardholder wants to voluntarily cancel their Prepaid Expense Card they must
complete and submit a cancellation form. Upon the closure of the account, any
balances remaining (after applicable fees or recovery) are remitted to the
employer. The funds on the Prepaid Expense Cards are owned by the employer, not
the employee. It is important that the employer have an agreement with their
employees stating the ownership of the funds and the specific policies
regarding the Prepaid Expense Card upon job termination or resignation. CardEx
provides appropriate verbiage on its standard Terms & Conditions for
program participants.
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Using Prepaid Expense Cards
Q: Where and when can an employee use
their Prepaid Expense Card?
A: Once the card has been activated
and funded (scheduled funding days) the cardholder can
use it at any worldwide location where MasterCard or
Visa is accepted. The card can also be used at ATM or
POS terminals displaying the MasterCard or Visa logo.
Employees request a PIN when they activate the card.
They can access their funds up to the balance on the
card. There are no overdraft capabilities on these cards,
nor check writing capabilities. The Prepaid Expense
Card eliminates the process of cashing a paper check
or carrying large amounts of cash. Most importantly,
employers replenish the same card, on a scheduled basis.
Employees can access a user-friendly online Portal to
view account balance, transaction history, or change
an account password, among other functions. They can
also print their expense activity to submit to their
employer as an expense report backup document.
Q: Can the Prepaid Expense Card ever have a negative balance?
A: Technically, no. Any authorization request that is
greater than the card's available balance will be declined. However, sometimes,
a merchant allows a purchase without prior authorization or forces a
transaction through the system. If this happens and the cardholder exceeds
their card's limit, they will be billed for the excess amount, plus applicable
service fees. It is important that your employees remember to keep track of
their account balance in order to avoid this issue. You will be able to track
any negative balance activity through both the Portal and program reports.
Q: What if the Prepaid Expense Card is lost or stolen?
A: Employees must immediately report a lost or stolen
card. They can use the Portal or call Customer Service at +1.888.801.3770. The
cardholder can contact us 24-hours a day, seven days a week. A replacement card
will be sent, minus a reissue fee that will be deducted from the card balance.
As long as the lost or stolen card is reported immediately, the cardholder will
not be responsible for any unauthorized charges. Also, for additional
information, cardholders should review the terms and conditions statement that
was included with their card.
Q: What happens if an employee needs
to return an item they purchased?
A: Each merchant location has
its own return policies and will handle the returns
in the same manner as any other MasterCard or Visa transaction.
They may credit the Prepaid Expense Card, provide a
cash refund or issue a store credit.
Q: Can a CardEx Prepaid Expense Card be used for online purchases?
A: Yes, CardEx Prepaid Expense Cards enable you to shop
online. A cardholder can place orders with their favorite web merchants up to
the limit on their Prepaid Expense Card.
Q: Is a 4-digit PIN number needed to use a Prepaid Expense Card at a
merchant?
A: No, a PIN number is not required. When the employee
makes a purchase, CardEx Prepaid Expense Cards are handled like any credit
cards: The store clerk simply runs the card through the machine to capture the
necessary account information. It is important to remember that a Prepaid
Expense Card has the cardholders advance expense dollars loaded on it as cash
funds. Those funds are accessed without a PIN, unless used at an ATM or POS
terminal.
Q: Can an employee get cash back from any unused portion of the
card?
A: Typically, an employee will not receive cash back on
their purchases. The Prepaid Expense Card is a prepaid debit card. Every time
it is used, the purchase amount is deducted from the available balance until
that balance reaches zero. For example, if the available balance is $50 and a
$40 shirt is purchased the $10 difference will remain on the card and become
the new available balance. Sometimes, in the case of returned items, a merchant
may provide a cash refund.
Q: Can CardEx Prepaid Expense Cards be used at ATM's or POS
terminals?
A: Yes, they can. The card recipient can request a pin
when they activate the card. The maximum daily cash withdrawal is $300 per day.
Additional charges apply for PIN-based transactions and inquiries. These
charges are detailed in the Terms and Conditions document.
Q: How can an employee check their Prepaid Expense Card balance? Or
track where they have used their Prepaid Expense Card?
A: The employee can log onto the Portal, click on "Card
Balance," and enter their 16 digit Account Number, followed by their Access
Code. Pressing the "Check Balance" button reveals the balance information. To
obtain their transaction history they would remain in the Portal, click on
"Transaction History," and enter their 16-digit Account Number, followed by
their Access Code. Pressing the "View History" button reveals their transaction
information. The employee can print their expense activity and use it as a
backup document for expense reporting to their employer. (If an employee does
not have Web access, they can call CardEx Customer Service at +1.888.801.3770
for assistance.)
Q: Can an employee pay their credit card bills with their Prepaid
Expense Card?
A: Credit card, utility, or other companies that honor
debit cards as a form of payment will also accept the Prepaid Expense Card.
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