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A brief guide to the most important points

Many corporate credit cards surpass their reputation. If companies know what’s important to them when choosing the type of credit card, they can benefit from multiple advantages.

  • The advantages of a corporate credit card generally outweigh the costs.
  • The UBS Business Prepaid Card is ideal for start-ups and SMEs, as no credit checks are required.
  • Companies should define clear guidelines for the use of corporate credit cards and provide training for employees.

Myth 1: Corporate credit cards are too expensive for SMEs

It is true that corporate credit cards are not usually issued free of charge. The conditions depend on the services provided. There may also be fees for using cards abroad, and interest may be charged for making partial payments. However, it is also true that processing manual expense reports ties up an enormous amount of capital and resources in companies and is prone to error.

Corporate credit cards can even save costs, as they ensure greater transparency in relation to expenses, especially in conjunction with an expense management tool. What is more, cash transactions are associated with greater risk, especially when traveling. “If an employee loses their card, there are no losses for the company, as UBS will replace the card free of charge (excluding prepaid cards),” explains Alexander Blattner, Head of Sales at UBS Card Center.

A UBS Corporate Credit Card also offers other additional services, such as:

Automated data reconciliation: integration into expense management and accounting tools allows automatic reconciliation of payments and receipts, which simplifies accounting.

Mobile wallets and virtual cards: cards can be saved in mobile wallets (e.g. Apple Pay and Google Pay) or provided as virtual cards for e-commerce and one-off payments.

Flexible payment terms: depending on the type of card, companies can make optimum use of the payment terms to improve liquidity (standard credit limits, monthly billing).

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Myth 2: Corporate credit cards are only for large companies

Before a company can provide its employees with a credit card, a credit check is usually carried out and a credit limit set. This can be an obstacle for start-ups and SMEs.

However, there is a solution for this too: the Business Prepaid Card. This type of card can simply be topped up via E-Banking. UBS offers the option of automatically topping up the prepaid card as soon as a minimum amount has been reached, for example. This means that companies don’t have to worry too much about topping up cards.

Companies that operate throughout Switzerland and do not require additional services can also opt for the Business Mastercard, and larger companies can choose either the Classic or Gold version of the Corporate Card.

UBS Corporate Credit Cards at a glance

Business Prepaid Card: no credit checks, easy to top up digitally with individual credit for each employee – ideal for start-ups and small companies

Business Mastercard: simple and transparent expense management, with insurance cover for business trips on request – ideal for SMEs

Visa Corporate Card Classic/Gold: simple and transparent expense management, with insurance cover included – ideal for medium-sized and large companies

Myth 3: Corporate credit cards are insecure and difficult to apply for

Security concerns are one of the most common misunderstandings in relation to corporate credit cards. USB meets the highest security standards – and they are constantly being enhanced. As long as SMEs comply with the duties of care, they will not be liable for any damage in the event of card misuse. To apply for a corporate credit card, the company should simply call their client advisor. The only requirement is a UBS business account. The attraktive banking offer is perfect for SMEs and only takes a few minutes to open.

Tip 1: Corporate credit cards or business prepaid cards: what’s best for SMEs?

With a Business Prepaid Card, a predetermined amount is transferred to the card in advance. This means the card can be issued rapidly and without a credit check. Like a credit card, the Business Prepaid Card can be used worldwide, including for online purchases and cash withdrawals. The card can be topped up free of charge in UBS Digital Banking in no time at all – and there is now even an automatic top-up function. Each card has an individual credit balance.

The Classic Credit Card has a monthly credit limit set by the card issuer. The company can freely dispose of this amount in advance. The bill doesn’t have to be paid until the end of the month. Whether for ordering office supplies online or paying for a hotel room abroad, corporate credit cards give employees flexibility.

In addition, a clear distinction is made between private and business expenses. At the same time, the use of cards simplifies billing processes, increases cost transparency and improves expense management.

The infographic showing the difference between having a large or small number of credit cards in a company.

The infographic shows the difference between having a large or small number of credit cards in a company. The left-hand side shows an organization with a large number of credit cards, referred to here as corporate cards. The cards have individual conditions, include an extensive service package, and organizations can have an unlimited number of cards. The right-hand side shows an organization with just a few credit cards, referred to here as business cards. These cards have a fixed schedule of prices and services, and the costs per card are relatively low.

Tip 2: What do employees need to pay attention to when using corporate credit cards?

Despite paying by credit card, many employees still have to collect receipts manually or record their expenses electronically via an expense management tool. A note on the receipt indicating the reason for the payment simplifies subsequent processing. “We now have a large number of customers who use an expense management tool. This also eliminates this manual process,” says Alexander Blattner, Head of Sales at UBS Card Center.

UBS offers an interface compatible with many of these electronic programs that feeds the transaction data directly into the system. Employees must always observe their company’s guidelines when using a corporate credit card. They must be familiar with and observe their duties of care for the use of the card.These duties of care include:

  • Using the card exclusively for business purposes
  • Collecting and conserving receipts
  • Documenting expenses accurately
  • Ensuring secure storage of the card
  • Blocking the card immediately in the event of loss

Tip 3: How to use corporate credit cards properly in companies

Companies that wish to introduce corporate credit cards should draw up clear guidelines. Once the responsibilities have been determined, spending limits set and the necessary security precautions taken, there is no reason why credit and prepaid cards can’t be used successfully within the company.

The most important steps include:

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Conclusion: From myth to correct use

Although there are various myths in circulation about the use of corporate credit cards, anyone who looks into the subject will quickly realize that there are more advantages than disadvantages.

  • Corporate credit cards are not expensive per se, but are priced according to the desired scope of services.
  • Modern corporate credit cards are quick to apply for and are even suitable for start-ups or small companies.
  • Companies should check in advance which card is most suitable for them and define clear rules of use for all employees.

If companies make detailed plans for the use of corporate credit cards – and request specialist advice if necessary – these cards offer numerous benefits and a great deal of freedom.

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