Post-COVID-19, many small businesses have turned to work remotely. The share of remote employees worldwide increased to 28% in 2023 from only 20% in 2020. However, managing a small business with a remote team can be challenging. Especially when you have to control and track expenses in your busy schedule. Tracking who spends what and ensuring everyone has the funds they need can get tricky. This is where an instant virtual card can be a savior.
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What Are Instant Virtual Cards?
One of the popular growing payment options in B2B transactions is virtual cards. This card works just like a physical card, but it is the electronic form of a physical card. So you do not have to worry about the card getting lost or stolen. You may store virtual cards on your computer, smartphone, or tablet and access them from anywhere at any time. It contains a 16-digit card number, a 3-digit CVV code, and an expiration date. Just log into Zil.US and get your virtual debit card to handle business payments easily.
Get Virtual Debit Cards for Your Team
Let us imagine a situation where you run a small graphic design business with a remote team. One of your designers needs to purchase new software, and your marketing manager needs to pay for online ads. You want to cover these costs so that your business can run smoothly. So, you shared your company’s credit card with them, and your designer accidentally overspent on the software. Also, your marketing manager forgot to send a receipt and now tracking these expenses has become a nightmare.
So, what to do in these situations?
Just use virtual cards on Zil.US and stay within the budget from wherever you are. You can easily get multiple virtual cards on the platform for a single account. As the cloud-based platform allows you to share the cards, you may share them with your employees by setting spending limits. This way, you can control and track the expenses efficiently. Also, by giving each employee a card they need not wait for your approval to make payments on time.
To create a virtual card on the platform, all you have to do is fund your wallet.
- Then, click New Card, and you may select Virtual Card.
- Enter the cardholder’s name, transaction limit, billing address, and mailing address.
- Once completed, click on Submit.
Unlike a physical card, you do not have to wait for the virtual card to arrive in the mail. You can activate and use them instantly on the cloud-based platform. If you find any suspicious activity, you can immediately block or freeze them by just logging into your account. This helps you prevent fraud and unauthorized access to your virtual card.
Open Fee-Free Checking Accounts
As a small business with a remote team, you may find it difficult to use a traditional checking account. This is because to make any transaction, you have to visit your traditional financial institution in person. For remote teams, this is not a practical solution since team members are scattered across different locations. With these accounts, you may not be able to track expenses in real-time, which makes it difficult for you to stay within budget. Also, these accounts have various fees and requirements. These include initial fees, minimum balance, minimum deposit, monthly maintenance fees, and many other hidden fees. All these fees and requirements can easily drain your account.
Therefore, utilize Zil.US and open an online checking account on the platform. You do not have to make a minimum deposit or give initial fees. Also, there are no minimum balance requirements, monthly maintenance fees, or any other hidden fees on the platform. So, the online business checking account on the cloud-based platform is also called a fee-free checking account. You may open multiple checking accounts on the platform to handle various expenses. For instance, open an account for managing payroll and another for operational expenses.
Alternative Payment Options Available on the Cloud-Based Platform
ACH Transfer: To make payments to your employees and vendors on time, you may utilize ACH transfers. Using the cloud-based platform, you can get one-time or recurring ACH payments. As you can set up recurring payments on the platform, it saves you from the hassle of remembering payments. ACH is one of the most convenient and affordable methods to make payments domestically.
Wire Transfers: Sometimes, when you are expanding your business, you may have to collaborate with international vendors. These vendors have to be paid on time with an efficient method. You may utilize wire transfers to pay international vendors securely and quickly using Zil.US. The platform offers you domestic as well as international wire transfers. You may choose the one you need and make payments on time.
Conclusion
If you are a small business with a remote team, utilize Zil.US to manage your expenses. The instant virtual card on the platform helps you control overspending and stay within the budget. You can get multiple virtual cards on a single account and share them with your employees. Also, the platform offers you fee-free checking accounts and multiple payment options for easy B2B transactions.
