Pre-paid Expense Debit Cards for Congregations
This is a very convenient solution to the congregation credit/debit card dilemma. Most banks now require that credit cards be based on the personal credit of an officer of the organization, which also means that when the Treasurer changes, the cards must be cancelled and a new application submitted for new cards. Debit cards can only be issued to the signers on the account, and even then, adding a card can require that all signers go to the bank to update the account.
Pex Card is a new solultion, founded in 2010. Through the pexcard admin website, the treasurer or designated person transfers funds from the congregation bank account to the Pexcard account (takes 3-4 days), and then the same or different person monitors the cards, adding or removing funds from each card as needed (instantaneously), and downloading the activity into the congregation’s bookkeeping system. There are also phone apps for both the admin and the cardholders to monitor activity and balance, add comments (line item/fund to be charged), and upload receipts. There is usually a monthly fee, but if you use my referral link below, I have negotiated a waiver of the usual monthly fees.