Are you looking at ways to manage your company’s payment processes in an easier, smarter, and faster fashion? The BPI Corporate MasterCard might be your answer.
BPI not only assists companies to make swift purchases but also enables them to provide their employees with its corporate MasterCard. This makes it easier when employees have to pay for company expenses.
Even better; you can apply for a corporate card whether you are a one-person business or a large enterprise with many employees. In this article, we explore BPI Corporate Mastercard’s pros and cons and how to apply.
The BPI Corporate MasterCard’s Features
The BPI corporate MasterCard is accepted nationwide and internationally. This gives the cardholder easy access to cash at any ATM locally, or over the counter at any of the 800 BPI and BPI Family Bank branches!
What’s more; BPI provides monthly recap reports. This is a summary of all the cardholder employees’ transactions. Information regarding the account can also be obtained from its customer service center 24/7.
That’s not all; you can also use BPI’s online expense management tool to keep track of all your purchases in one place.
It offers travel insurance for cardholders and lost-card insurance, which guarantees zero liability for unauthorized use of the card from the time it is reported lost.
With BPI’s loyalty program the points earned can be exchanged for the annual fee or gifts.
Pros and Cons of the BPI Corporate MasterCard
Companies do not have to disburse cash to employees or issue checks to suppliers. They can do payments through any of the many BPI payment options.
While the BPI corporate MasterCard assists companies to save and improve cash flow, the bank can arrange on the company’s behalf for extended payment terms with suppliers.
And if you have to deal with international clients or retailer, BPI also offers low foreign currency exchange rates and provide you the leverage to block cards if used for gaming and gambling.
That’s not all; you can also set purchase, transaction, and cash advance limits on the employees’ cards.
The only con that we could find in the clients’ online commentary is that an annual membership fee is payable even if you are the owner of a one-person business or need only one card for your company.
BPI Corporate MasterCard’s Fees and Rates
- Annual membership fee: PhP1,700 per year for principal card.
- Supplement card: Free.
- Monthly interest: 3.5%.
- Cash Advance : 3% of the advance or PhP500 whichever the highest.
- Late payment fee: PhP850.
- Returned check fee: PhP100.
- Sale slip retrieval fee: PhP300.
- Lost card replacement fee: PhP400.
- Gambling and gaming fee: 3% of the amount or PhP500 whichever the highest.
- Foreign exchange rate: Free.
To apply for the corporate MasterCard program, BPI will require certification by the company’s secretary that the board has authorized the application and designated the authorized signatories.
It also needs a corporate guarantee regarding a deposit amount of which 80% can be used as the total credit limit to be granted to the employee cardholders. When the application has been approved,
BPI will request a cardholder information sheet signed by each employee who will be issued with a corporate card.
How to Get a BPI Corporate MasterCard
If you want to enroll in BPI’s corporate MasterCard you have to send an email to firstname.lastname@example.org. One of BPI’s marketing officers will phone you to discuss the application process.
BPI Corporate MasterCard’s Address and Contact
BPI’s address is 6768 Ayala Ave, Legazpi Village, Makati, 1226 Metro Manila, Philippines. You can also phone them on +63 2 89100.
The BPI corporate MasterCard is one of the best corporate cards available in the Philippines. Many of their other offerings are designed for large companies, while the BPI card offers its services to businesses of any size.
You can contact BPI to find out how they can help you with your specific request.
Disclaimer: There are risks involved when applying for and using credit products. Ensure you consult the BPI Corporate MasterCard’s terms and conditions before agreeing on anything.