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PEX Visa Prepaid Card for Business Review

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I’ve written quite a bit about credit and debit cards over the last few years, with reviews many of the popular credit card offers available to consumers and small businesses. Most of these offers require a good, very good, or excellent credit history. With this requirement, consumers trying to build their credit from zero or to repair their credit from past mistakes or problems have a different set of options. A popular alternative is to apply for a prepaid debit card. Prepaid cards are not credit card accounts, no credit is extended to your company and your company’s activities with this card will not be reported to credit reporting bureaus. For small businesses, the variety of prepaid cards to manage spending is more limited than what is available for consumers. The best offer available today by a wide margin is the PEX Visa® Prepaid Card for Business.

PEX Visa® Prepaid Card For BusinessSmall business owners find it convenient to keep all spending confined to one account. Spending by all employees can be managed in one place online. The owner can visit the PEX Visa® Prepaid Card for Business website and create an account to manage all card limits and expenditures. Each issued card within the business can have its own spending limit. Here are some of the features of this card, in a chart from the PEX website.

As with most prepaid debit cards, PEX charges a variety of fees for using the PEX Visa® Prepaid Card for Business. The fees a reasonable in comparison to other cards, and with total spending across all of a business’s issued cards beyond a monthly threshold, the major fee disappears. These are the most prevalent fees this card carries:

  • $7.50 month maintenance fee per card (waived any month your business spends $50,000 or more)
  • $49.95 one-time account set up fee
  • $5 fee to transfer money from your PEX account to your bank account

New cardholders will receive the first two months of monthly fee charges waived any month your business spends $50,000 or more. Compared to the fees for some consumer prepaid debit cards, this card is actually quite inexpensive. That doesn’t mean however that this card is a good choice, but if your business could benefit from a centralized payment management system, PEX offers a compelling solution.

For any small business that has the high-quality credit to qualify for a small business credit card or charge card American Express, Chase and Citibank offer business cards and may be another way to go. But if excellent credit is something a business hopes to have in the future, the PEX Visa® Prepaid Card for Business is an option to consider.

Updated January 25, 2014 and originally published September 23, 2011. If you enjoyed this article, subscribe to the RSS feed or receive daily emails. Follow @ConsumerismComm on Twitter and visit our Facebook page for more updates.

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About the author

Luke Landes, also known as Flexo, is the founder of Consumerism Commentary. He has been blogging and writing for the internet since 1995 and has been building online communities since 1991. Find out more about him and follow Luke Landes on Twitter. View all articles by .

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