Why Citi Diamond Preferred Card is the best solution for your business
Mar 18, 2020 23:16
Business cards are a relatively new phenomenon in the banking market and provide a wide range of opportunities for people engaged in business. They are available for registration when opening current accounts and help simplify money management, as well as increase the comfort and speed of settlements with counterparties.
The set of useful properties that Citi Diamond Preferred card depends on the organization that produces it and the offer itself. Only an authorized person or several employees have the right to use it, but only with the permission of the manager. In this case, you will need a power of attorney (if the plastic card is linked to the company's account). It is allowed to use it not only on the territory of your state but also abroad.
How to get a Citi Diamond Preferred card
This additional service is available when opening a current account. Many banks do not limit the number of available cards that can be linked to it, and a person can determine it independently.
For registration, you must contact the bank branch or fill out the appropriate form on the official website of the institution. The main requirement for financial organizations will be to have a current account.
If an individual entrepreneur or businessman does not have one yet, you can open it by submitting the following documents:
• passport (for individual entrepreneurs);
• charter (subject to availability);
• orders for the appointment of the director and chief accountant, as well as their passports (for legal entities);
• documents for real estate where the registered legal address is assigned
Other documents may be required, depending on the bank's rules.
Features of Citi Diamond Preferred card
Citi Diamond Preferred card for legal entities and sole proprietors is an effective and convenient payment tool for people doing their own business. This product is easily recognized by the business label on its front side. It helps to maintain accounting records and control the company's expenses.
You can also consider it a way to save money, because the cardholder does not need to maintain a staff of cashiers, spend money on cash collection, security, etc.
Business card for sole proprietors as a financial tool allows customers to use the company's money permanently. They can make transfers to their suppliers, pay for goods or services, and make cash withdrawals. This saves time because you do not have to come to the bank office in person. You can make payments in mobile or online banking, and withdraw cash from any ATMs.
There are corporate cards of the main international payment systems: Visa and MasterCard. They differ in status and can be gold or platinum. There are also various limited versions. Those manufactured by Citi Diamond Preferred Card for business have different rates. Their details depend on the selected set of services.
An individual entrepreneur has one spending structure, and a large enterprise has another. We help you choose the right card (or several) at once.
I already have a personal card. Why get another one?
Citi Diamond Preferred Card is a bank card for a legal entity that is linked to the current account of an individual entrepreneur or limited liability company. It makes it easier to control expenses and save money on purchasing goods and services for businesses.
With the Citi Diamond Preferred Card, you can pay for office rent, utilities, and Internet bills, advertising your business on social networks, duties, or taxes. You can link it to your work phone number or taxi app and pay for your connection and rides without making any unnecessary operations.
If you have several retail outlets from which you regularly collect revenue, send it to your bank account via an ATM — this is more convenient and profitable than paying for collection. Finally, if you lose such a card, nothing terrible will happen: you can quickly block it, and then easily reissue it.
How do I choose a card that is suitable for my business?
It all depends on the size of your company and the structure of expenses. Citi Diamond Preferred Cards can be debit or credit cards. For an individual entrepreneur with a small turnover, the debit card is enough. And if you urgently need to pay with suppliers or contractors, but you do not have the necessary amount, you will get a business credit card. Credit limits are set by the bank, but in any case, you will have a certain amount for insurance.
For large businesses, you should issue several cards at once — for example, a credit card for the manager or chief accountant, and debit cards for ordinary employees. You can set an individual limit for each card so that employees don't overspend funds.
It is especially convenient with business trips: you do not need to give out cash to subordinates and trouble with currency exchange if we are talking about foreign trips. You issue an additional card and get a full report on where, when, and what exactly the employee spent money on.
It is still difficult. Can you explain it with examples?
If you need a card to make it easier to control the movement of funds, the simplest option is suitable — for example, Citi Diamond Preferred Card. With it, you can pay for any expenses of the company: from the purchase of necessary goods for the office to travel.
Entrepreneurs who are often on foreign business trips need a map with support around the world. In the MasterCard line, this is the Citi Diamond Preferred Card. If you lose your card during a trip, you can quickly reissue it — the support service works around the clock in any country.
Company owners and top employees will like the card, which opens access to additional privileges. For example, the Citi Diamond Preferred Card provides 24-hour access to MasterCard business Lounges at airports.
If your company spends a lot of money on Executive expenses, you should monitor exactly what employees spend money on. Here you can use the Citi Diamond Preferred Card to set spending limits and make sure that your employees use the money for the company's needs rather than spending it on their own whims.
Bitcoin has made a different resource class and a whole portion of the economy. Simultaneously, numerous individuals question its incentive. So what are these present reality ramifications of Bitcoin, and how could it be changing things for regular individuals and enormous financial backers? Read more
We all know that the concept of virtual currencies and the BTC market itself can be very technical and complex. However, factors as basic as the increasing mainstream acceptance, are influencing the market as well. Other factors include the quantity of total power and electricity required for mining the new bitcoins, and how available the coin is to the masses. Read more
Bitcoin was the first cryptocurrency to be introduced to the market and then many other currencies joined the journey with it. A typical individual cannot understand a lot of cryptocurrencies and hence a brief analysis is offered. Read more