Business Overdrafts
Be financially flexible with a business overdraft.
Corporate Purchasing Card
An efficient and cost-effective way to pay suppliers and reconcile purchases
Using a Purchasing Card to manage supplier payments can help to speed up procurement and reconciliation processes, reducing administration and enhancing supplier relationships.
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- Makes suppliers financially stronger with funds received in as little as three/four working days from order being placed, helping to ease cashflow.
- Reduces administration by removing their need to chase outstanding invoices.
- A Corporate Purchasing Card programme provides:
- Increased visibility over supplier spend and the data we supply can be used to develop and drive better pricing with your key suppliers.
- Valuable working capital with up to 59 days’ interest free credit, whilst suppliers are paid promptly.
- The opportunity to drive an income line in the form of a rebate where your spend meets minimum value thresholds.
- Invoice processing efficiencies and automation of VAT reclaim with thousands of UK-based Visa VAT-enabled suppliers.
- Reduced cost of working capital with up to 59 days’ interest free credit on Sterling purchases.
- Improves visibility over cardholder spend with all transactions detailed on statements and stored in our Data Management system.
- One consolidated statement and one automated monthly Direct Debit payment, in settlement, to Lloyds Bank each month.
- Make contactless payments on transactions up to £100 at participating retailers.
Reporting & Management Information
Corporate Purchasing Card provides detailed reporting and MI which you can tailor to match your organisation’s needs.
Alternatively, a raw data file can be supplied which you can upload directly to your own accounting system.
You can access a range of reports, including:
Control & Security
Corporate Purchasing Cards can help to ensure compliance with internal spending, risk and governance policies by allowing you to control spend:
- at Company and cardholder level,
- by individual transaction amount or volume; and/or
- via Merchant Category Group blocking.
Visibility over cardholder spend is greatly improved with all transactions reported on statements and via our Data Management system.