Switching to Company Debit Cards

A listener asks how a company can give employees debit cards without having access to the company’s checking accounts. Dave tells him you can’t.

QUESTION: A listener asks how a company can give employees debit cards without having access to the company’s checking accounts. Dave tells him you can’t.

ANSWER: You don’t. The debit card gives them access to the company bank account. We run an operating account for the 80 or so debit cards that our employees carry, but they don’t have access to the full operating account of this business. If you trust your employees enough to travel and do business on your behalf, you have to be able to trust them with money. If you can’t trust them, don’t hire them. Don’t send them out to do business for you.

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