New corporate credit card to improve monitoring of companies’ expenses and cash flow

Press release

12/5/2012
8:00 AM

Komerční banka is the first bank on the Czech market to start offering corporate credit cards to its clients. Thanks to effective control of their business expenses, medium-sized and large companies can cut the costs of this agenda while improving their cash flow by using interest-free credit.

When they use Komerční banka’s corporate cards, companies have payment cards for their employees and managers and also, in particular, an all-encompassing solution for financing employees’ business expenses and for their monitoring, evaluation and export to bookkeeping systems. Using these payment cards for paying business expenses, and the related elimination of advance payments in cash, brings considerable time and cost savings to companies,” said Iveta Ocásková, Deputy Senior Executive Director for Distribution – Corporate.

Komerční banka’s corporate credit cards offer a grace period of up to 45 days. They can be issued with the MasterCard or VISA brand. Depending on the end cardholder’s requirements for the range of extra services and the payment limits, companies can opt for the conventional cards or managers’ cards. The solution offers a number of services that are unique on the Czech market for the time being. They include, in particular, the brand new insurance against the cardholders’ abuse of their cards, travel insurance covering the cardholders and their family members and, in the case of the gold cards, the useful Priority Pass, which constitutes membership entitling to access to VIP lounges at airports.

The companies and the cardholders themselves can operate the comprehensive system of transaction statements and reporting via a simple user interface in KB’s internet banking.

Employees can display executed transactions in the direct banking channel, and therefore can have an up-to-date overview of executed transactions and continuously check their business expenses and subsequently account for them very quickly without having to wait for hardcopy account statements,” adds Radek Basár, Deputy Executive Director for Marketing, Communication & Business Development.

Komerční banka’s corporate card solution helps companies perform internal control of business expenses efficiently and without the need to install any specialised IT systems. The option of exporting reports from KB’s direct banking in the CSV format ensures compatibility with companies’ normally used IT systems.