Alliance & Leicester – new Visa card

A new Visa card has been introduced by the Alliance & Leicester and could appeal to those who run their own business.

It is a pre-paid card and can be used by employers to provide expenses for staff travelling in their jobs or undertaking purchases on behalf of their employer. The card can be loaded with either US dollars, pounds sterling or euros. Individuals are then able to use it, like a debit card, almost anywhere in the world displaying the Visa sign. Once funded by the organisation, the Visa prepaid card may be used for a set amount of time until the funds are used up.

Alliance & Leicester believe the card will be of good value to organisations that employ staff overseas or temporary workers. In the latter case, staff can be paid using the card and this is advantageous to the employer as it makes the payroll easier and removes the need for migrant workers to have bank accounts.

A spokesperson for the Alliance & Leicester commented that the new prepaid card will cut management and reconciliation times, as well as significantly lowering the amount of back office administration required. The system will also help improve monitoring and fraud control.

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