The Best Prepaid Debit Cards For Small Business: A Detailed Guide

Mike Renaldi

12.05.23 (last updated)

7 minute read

Prepaid debit cards give small business owners lots of advantages: ways to manage cash flow, the ease of online payments, and the security that comes with using an alternative payment method. With all these benefits, it’s no wonder business debit card use increased from 34% in 2019 to 42% in 2020 alone¹.

Let’s take a look at 7 of the best prepaid debit cards for small businesses, and why the Wise Business Debit Card may be right for you.

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The best small business prepaid debit cards

Before getting into the details of each card, here is a quick look at the best small business prepaid debit cards on the market today and what they have to offer.

Wise

The Wise Business Debit Card is made specifically for small businesses that operate around the world.

You can enjoy no monthly fees, low foreign transaction fees, and you can set up direct deposits from your payroll provider, making it easy to manage employee salaries and wages. Paying bills or expenses in another currency? Get the mid-market exchange rate every time.

Cost of Card	Load Limit	Spend Limit	ATM Fees	Currency Conversion Costs
One-time account setup fee; $5 for current account holders	$10K max load	$10K max spend per month	None for the first few transactions at a certain cap	Fees are as low as 0.41%

*Wise will not charge you for these withdrawals, but some additional charges may occur from independent ATM networks

Please see Terms of Use for your region or visit Wise Fees & Pricing for the most up to date pricing and fee information.

Features

Multiple currencies accepted
Smart conversion technology for the lowest conversion fees
Spend abroad with no hidden fees or bad exchange rates
Global payments
Integrations with accounting and payroll software
Mobile management of virtual cards
Control spending with account limits and alerts

Pros

Low currency conversion costs
Secure and convenient
No subscription or monthly fees
No minimum load requirements

Cons

No rewards system
Available for sole proprietors and single-member LLCs

Dash

Using Dash is the easiest way to pay employees, contractors, and vendors. The card has no monthly fees or fees associated with transactions, making it a suitable choice for SMBs, especially those on a budget.

When it comes to employees or contractors, you can set up direct deposits to the card and set up expense categories to organize transactions. Plus, Dash offers a comprehensive online dashboard where you can track spending and view detailed reports.

Cost of Card	Load Limit	Spend Limit	ATM Fees	Currency Conversion Costs
Must contact sales	Must contact sales	Set by the business	No ATM access ²	3%²

Features

Access features for owners, accountants, and employees
Remote approvals
Team management
Integration with QuickBooks and other accounting programs

Pros

Range of functions with the Dash app
Accepted at 40 million+ physical and online retailers in more than 210 countries and territories worldwide
No minimum load requirement

Cons

Can only add funds with ACH transfer
Team members can only spend a maximum of $1000 a day

PEX

PEX isn’t just a business pre-payment card solution, it’s a comprehensive financial management platform. With PEX, business owners can set up budgets, track expenses, and gain insights into spending trends to help them make informed decisions about their finances. Its vast selection of features, including rewards programs, purchase protection for items purchased with the card, and fraud protection give you the peace of mind you need when managing your business finances.

If you’re a little more tech-savvy, PEX API integration allows you to create a custom solution for your business’s needs.

Cost of Card	Load Limit	Spend Limit	ATM Fees	Currency Conversion Costs
Varies depending on core plan (setup fee + monthly subscription fee)³	$25K max load⁴	Set by the business.	No ATM access	0.8% - 1.5%⁵

Features

Real-time analytics
Rewards program
Purchase protection
Integrated payments platform

Pros

Comprehensive financial management platform
Budgeting tools included
Track expenses in real time
No minimum load requirements

Cons

High monthly fees
Slow reload times

Bento

With Bento for Business, you can say goodbye to paper checks and the hassle of tracking cash. The prepaid debit card works with an online platform to help you manage employee spending and keep track of expenses easily.

Bento lets you set up multiple cards and receive customized notifications when transactions occur. There are no monthly fees or transaction charges, but a one-time enrollment fee per cardholder.

Managing employees is seamless, too, as you can assign cards to specific team members and set spending limits. The card can be used at ATMs worldwide and is accepted in over 200 countries and territories.

Cost of Card	Load Limit	Spend Limit	ATM Fees	Currency Conversion Costs
$29 monthly⁶	$10K max load per day⁶	$25K max spend per day⁶	Possible $3 per international transaction⁶	None

Features

Multi-user access
International transactions with no foreign transaction fees
Detailed reporting capabilities
No overdraft or penalty fees

Pros

Easy-to-use interface
Low transaction fees
Set spending limits per individual user or category of expenses
No minimum load requirements

Cons

Enrollment fee per cardholder
No rewards

Chase

If you're looking for an established and reliable business pre-payment card solution, the Chase Business Debit Card is a solution. It comes with an EMV chip and contactless payment technology, so you can accept payments wherever you go. What’s more, it’s accepted by a significant number of retailers worldwide.

When it comes to managing your business finances, the debit card offers features like tracking expenses and categorizing them by type. You can also set up custom alerts to notify you when something needs attention, or use the card to get cashback when you shop at select retailers.

Cost of Card	Load Limit	Spend Limit	ATM Fees	Currency Conversion Costs
Free	Missing	Unlimited debit card purchases and Chase ATM transactions⁷	3% for out-of-network U.S. ATMs, $5 for withdrawals outside the⁸	3% or $5 depending on which is⁹

Features

Custom alerts for account activity
Nationwide ATM network
No overdraft or penalty fees

Pros

No annual fee and no monthly service charge
Get cashback when you shop at select retailers
Maintain employee oversight

Cons

Limited rewards system
Chase Business Checking requires a minimum of 2K in the account which then affects your minimum load, as you must have at least this much to access the debit card⁷

Mesh

The name says it all – Mesh is a debit card that combines the convenience of a prepaid card with the power of merchant services. Mesh lets you accept payments from customers and vendors in multiple currencies, track spending, and view detailed reports. And thanks to the intuitive online dashboard, you can manage your card and accounts with ease.

As a Visa-branded card, you can use it anywhere Visa is accepted.

Cost of Card	Load Limit	Spend Limit	ATM Fees	Currency Conversion Costs
Free	$20K max load per day¹⁰	$10M spend in a single day¹⁰ *this could be subject to limits	No ATM access¹⁰	Rates chose by government mandated exchange right or visa wholesale exchange rate¹⁰

Features

Centralized payment platform
Spend control and analysis
Automated payment workflows

Pros

1% cashback
Welcome offers with $500
Real-time notifications
No minimum load requirements

Cons

Unclear currency conversion costs
Complex platform

Emburse

For jet-setters, Emburse is a good solution. This prepaid debit card offers a range of features designed with mobile business owners in mind. You can easily add funds to the card, manage multiple virtual cards, and view detailed spending reports all from your phone.

With real-time notifications, you’ll even know exactly how much money has been spent and where it went. The company's portfolio of business apps also makes it perfect for small businesses looking to streamline their operations.

Cost of Card	Load Limit	Spend Limit	ATM Fees	Currency Conversion Costs
Free	Missing	Set by the business	No ATM access	Partners with Wise

Features

Real-time account visibility
Global payments
Integrations with accounting and payroll software
Mobile management of virtual cards
Issue an unlimited amount of cards for free

Pros

Easy to use and manage finances on the go
International payments
No minimum load requirements

Cons

No rewards system or cashback options available
No ATM use
Not ideal for those who need to deposit large amounts of money into the card regularly

Volopay

Volopay brands itself as a financial control center, and with company debit cards for everyone on your team, it’s easy to manage your finances. The Volopay financial control dashboard is where you’ll control all business expenses, payments, and reporting.

Having this level of proactive control over your business’s money is essential for small businesses, and its ability to help you save time and money makes it a great choice. Add in multi-level approval workflows, detailed spending reports, and real-time updates, and you’ll have no issue staying on top of your finances.

Cost of Card	Load Limit	Spend Limit	ATM Fees	Currency Conversion Costs
Free	Set by the business¹¹	Set by the business¹¹	Potential ATM fees¹²	Potential currency conversion fees¹²

Features

Online dashboard
Customizable cards
Employee tracking
Detailed spending reports

Pros

Integration with accounting software
Secure payments (backed by Visa)
No minimum load requirements

Cons

No reward offers
Expensive fees for line of credit

Employee debit cards - things to consider

Reloadable debit cards for employees are becoming more popular with businesses as a tool for managing employee expenses. With these cards, employers provide employees with an easy and convenient way to access funds without making large cash withdrawals or issuing checks. But, before you decide to implement this type of payment system in your organization, there are some key considerations to make.

Fees: Make sure that you understand all the fees associated with each card before making a decision. Look out for annual fees and transaction charges so that you can get the best value from your card.
Controls: Businesses using a prepaid debit card can benefit from alerts on card activity and payment approvals to ensure oversight. You can also set spending limits on some cards.
Rewards programs: Many business debit cards for employees offer rewards such as cashback, points, or discounts. If you regularly use cards for purchases, it can be worthwhile to look into cards that offer these benefits.
Security: Most prepaid debit cards come with additional security measures such as chip and PIN technology, fraud protection services, and online monitoring services. It’s essential to ensure that your card is secure before using it for any sensitive transactions.
Usage limits: Some cards may have daily or monthly limits on how much you can spend, so you’ll want to see if these align with your business.
Other Features: Depending on the card, there may be a range of features available, such as mobile banking and budgeting tools. Take the time to research all the features that are available to you before making a decision.

Reloadable debit card for employees

Reloadable debit cards are a way for employers to pay employees, contractors, and vendors quickly and securely. Some popular reloadable debit cards include:

Wise Business Debit Card: Get your employee a debit card and pre-set their spending limit. This card is truly international, with the ability to make online or in-store purchases in 50+ currencies and 175 countries. Customers can add their employees to their business account with controlled access and track their spending in one place. See real-time spending anytime, anywhere.
Sage Payroll Debit Card: This card is good for employers who need a secure way to pay their staff. It offers free online banking and mobile app access, and it’s reloadable, so employees can easily top up their funds as needed.
American Express Serve Free Reloads: With the American Express Serve Free Reloads card, employers can load funds directly onto the card for their employees. The card boasts free online banking, text message alerts, and access to over 24,000 ATMs worldwide.

Reduce costs with the Wise Business debit card

The Wise Business Debit Card helps US-based sole proprietors and single-member LLCs manage and grow their small business with ease.

Reduce costs when spending abroad
Pay online or in-store 50+ currencies and 175 countries
No subscription or monthly fees
Get the mid-market exchange rate when paying in foreign currencies

Wise Business gives you the power that no other business account to take your business globally. Pay a one-off fee for the debit card, employee cards, and the local account details.

It's the perfect business pre-payment card solution for small businesses looking to save time, money, and hassle.

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Please see Terms of Use for your region or visit Wise Fees & Pricing for the most up to date pricing and fee information.

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*Please see terms of use and product availability for your region or visit Wise fees and pricing for the most up to date pricing and fee information.

This publication is provided for general information purposes and does not constitute legal, tax or other professional advice from Wise Payments Limited or its subsidiaries and its affiliates, and it is not intended as a substitute for obtaining advice from a financial advisor or any other professional.

We make no representations, warranties or guarantees, whether expressed or implied, that the content in the publication is accurate, complete or up to date.