Equals Money virtual cards are here. We’ve been listening to your feedback and taking on your suggestions, and our Product team has been working hard to create something that’s going to make managing money that little bit easier. Our first iteration of virtual cards for you and your business to use is Shared cards, helping you stay on top of subscriptions and recurring payments.
Here’s what they’re all about and how they’re going to make managing your business finances even easier.
For now, you can name the cards for their different purposes to keep track, and they'll all pull from the same account balance. Soon, you'll be able to attach your Shared cards to specific Balances, which is a feature coming soon from Equals Money. For example, if you have a specific Balance that you’ve set aside for marketing costs, you can create cards within that balance. Within the marketing Balance, you can have a Shared card for each subscription you have for ad spend like Google or Facebook.
Your Shared card will be given a unique name, and it won’t have to belong to a specific person so anyone on your team can use it. We recommend you give it a name that represents what it’s being used for (ex: Google Ads or Slack).
Our Shared cards are virtual and have their own unique card number, expiry date, and CVC.
Shared cards don’t belong to a specific person. Instead, they’re issued to the business that owns the account. This means that the billing address on Shared cards will be the registered address of the company and can’t be changed by anyone apart from us here at Equals Money. The name you’ve given your card will be the name you fill out for online purchases, so instead of entering your ‘First name / Last name’, you’ll put in ‘Microsoft Outlook’ (if your card is being used for Microsoft Outlook).
You’ll be able to see a list of all your Shared cards within your Equals Money account or within a specific Balance. You can create as many shared cards as you like, so if you want cards drawing from multiple Balances or multiple cards for different uses in one Balance, it’s easy to make a new Shared card on the Equals Money platform.
You’ll be able to set limits per card on transactions with all Shared cards so you’ll have total control over spending.
Access to Shared cards can be given through your Balance permissions, so anyone you give permission to can use it. Shared cards encourage better spend management and empower employees to take spend into their own hands.
Only account level owners, admins, or anyone with manager access can create a Shared card. These are also the only people who can pause, resume, and replace a card too.
We’re so excited to offer Shared cards as one more way we’re making money management simple for your business. If you have any feedback on how the card works, or any suggestions on how to make it better, we’d love to hear from you.
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