business debit card

Business Debit Card

Preferred Bank is excited to offer a Business Visa Check Card. This card is designed to allow purchases at any VISA merchant location and the amount is debited from the business cardholder’s checking account. This product is designed for business owners/managers to use the cards for their regular purchases – a replacement for the business checkbook. It allows for your business to issue multiple cards to your employees and all cards access the same business checking account. Each card will have two name lines embossed on the card – one for the business and the other for the individual carrying the card. To assist your business in monitoring the expense, Preferred Bank will provide a monthly register listing all the transactions by each individual cardholder. This register is produced at the end of the month and will be mailed the following week. A sample of the register is enclosed

Benefits to Your Business

In addition to the convenience of using card plastics rather than checks for your expense accounts, as a Preferred Bank business customer, you can also take advantage of:

  • Detailed monthly transaction registers listing all transactions done by each cardholder
  • Cardholders' access to Visa's Global Assistance Center on a 7x24 basis (such items as ATM locator service)
  • Ready acceptance of your payments anywhere the Visa logo is displayed
How to get your new Business Visa Check Card?

Please complete the enclosed form and return it to the Preferred Bank nearest you.

When should you order your new Business Visa Check Card?

Please submit the enclosed order form to us promptly.

Are there fees associated with the Business Visa Check Card?

There are no annual fees. After you have received your new card, if you need a replacement card prior to your expiration date, there is a $5.00 fee for each card replaced. If you use the card at an ATM not owned by Preferred Bank, you will incur a fee by the owner of the ATM and Preferred Bank will charge $1.00.

General liability: Tell us AT ONCE if you believe your card and/or code has been lost or stolen, or if you believe that an electronic fund transfer has been made without our permission using information from your card. Telephoning is the best way of keeping your possible losses down. You could lose all the money in your account (plus your maximum overdraft line of credit). If you tell us within 2 business days after you learn of the loss or theft of your card and/or code, you can lose no more than $50 if someone used your card and/or code without your permission. Unless you have been grossly negligent or have engaged in fraud, you will not be liable for any unauthorized transactions using your lost or stole Business VISA Check Card. This additional limit on liability does not apply to ATM transactions or to transactions using your Personal Identification Number which are not processed by VISA.

If you do NOT tell us within 2 business days after you learn of the loss or theft of your card and/or code, and we can prove we could have stopped someone from using your card and/or code without your permission if you had told us, you could lose as much $500.00.

As a business account owner, you are responsible for all your employee cardholder’s transactions even if the transactions are for personal use. It is your responsibility to ensure your employees know and understand your policy for use of this Business Visa Check Card. It is your responsibility to notify the bank to close an employee’s Business Visa Check Card when the employee leaves your employment or your company policy no longer authorizes him/her to use the card.