The Bank of Ireland has launched a new business credit card that provides businesses with more control over employee credit card expenditure.
Bank of Irelands CardController provides business customers with a number of unique settings to monitor employee credit cards.
This is aimed at giving business owners the ability to block certain types of transactions such as online, international or ATM transactions or limit the use of the credit card to specific merchant groups such as travel or business services.
The business credit card also has capabilities that can curtail card spending times to certain timeframes, for example – Monday to Friday, as well as create real time alerts of money spent.
There is no charge to customers for using this service and Bank of Ireland is the first to offer this facility to business credit card customers in Ireland.
Head of Cards, Bank of Ireland Scott Kirkwood, speaking about CardController, said, Business Credit cards are a flexible, fast option for making payments, managing business cashflow and tracking business spend, however monitoring employee expenditure can be considered an additional workload, preventing some businesses from choosing this route for their staff.
He added, In addition to the current option of setting individual controls, CardController gives businesses more peace of mind by putting them in control of where, when and how a business credit card can be utilised and we expect this will be a welcome addition to our current credit card offering.