Empower employees with a business prepaid card to reduce the burden of manual expense reporting, myprepaidcenter balance eliminate cash, and simplify employee per diem or travel spending. Plus, save money with automatic savings, simple budgeting, and Spend Tracking. Easily link your bank accounts for an accurate snapshot of cash inflows and outflows.
Automatic Reloads

Some prepaid cards allow you to sign up for automatic reloads that deposit funds into your account on a set schedule. These can be helpful if you’re trying to budget your money or make sure an allowance makes it to your child’s card before the bill comes due. Other cards have features that let you load funds in other ways, like at a cash machine or at the register of a store or online.

Prepaid card users typically must register their cards, which means providing their name, address, and other personal information. This can help them qualify for certain cardholder protections and to use some features, such as online shopping. It also helps prevent people from purchasing unauthorized items with the card or using it at automated fuel dispensers, where it’s possible to get a transaction authorization higher than the actual purchase amount.

Many prepaid cards have monthly maintenance fees, though you can find options that don’t. These vary by card, and you may be able to avoid them by meeting a reload minimum or by signing up for direct deposit of paychecks, benefits, or other income. Some cards report credit history to the major credit bureaus, so that may impact your credit score.

Some prepaid cards offer a variety of ways to add money, including direct deposit from your bank account or payroll, mobile check deposits, and in-person cash loading at merchant locations (some merchants charge a fee). Others let you send funds to the card from another person’s account or receive government checks, such as Social Security and tax refunds.

If you choose a card that offers multiple reload methods, look for one with an easy-to-use app or website that lets you see how much is available and track spending in real time. Some prepaid cards require you to log in to your account before you can access the app, while others are completely mobile-based and feature a clean user interface. If you’re looking for a card to support employee per diem and travel expenses, consider options that allow you to assign specific limits for each team member.
Spend Tracking

Whether you're an established business owner looking to take control of your finances or simply trying to avoid going over budget, expense tracking is one of the best things you can do for yourself. Tracking expenses allows you to get a detailed look at exactly where your money is going, giving you a chance to recognize negative spending behaviors that can easily be changed (like those monthly streaming services that may be costing you more than you're actually using).

There are many ways to track your expenses, with the most popular method being the use of an expense-tracking app that can sync with your bank account. This allows you to automatically record transactions that may not be recorded manually or by other means, and will also give you an opportunity to review your expenses on a regular basis.

Many apps offer a variety of features such as custom categories, budget planning, and the ability to set goals and alerts. Some apps are free for a trial period, after which you'll be charged a small fee (typically less than $8 per month). For those not interested in an expense-tracking app, a simple spreadsheet can be a great way to record your expenses and keep a detailed log of your financial activity.

Regardless of what type of expense-tracking system you use, it's important to review your expenses on a regular basis. This will help you identify areas where you can cut back and save, as well as to make sure you are pacing your spending throughout the month. A good rule of thumb is to allocate a maximum of 30% of your income to "wants" vs. "needs." This will leave you with enough room to cover all your monthly expenses while also allowing for a little bit of discretionary spending on items you enjoy. You may even discover a few extra dollars to put toward paying off debt or savings! Expense-tracking can be time-consuming, but it's a necessary part of budgeting that can help you gain control of your finances. By doing so, you can start to build wealth and reach your personal finance goals.
Save Money

Empower offers users several ways to save money, including automatically saving a portion of each paycheck. Users can also manually save money through the app by connecting their bank accounts and setting savings goals. The app then uses artificial intelligence to save money for them by moving cash from their checking account into a savings account whenever they hit their weekly goals. Empower also tracks spending to help users identify areas for savings. Customers can check their credit score free of charge through the app.