National Bank of Canada Mastercard Corporate Card
no fixed amount
Credit Card
Description:
The Mastercard Corporate Card from the National Bank of Canada allows businesses to reduce management fees through various features, including the generation of reports analyzing expenses and providing recommendations. Additionally, businesses can decrease purchase processing expenses by utilizing different cards tailored to specific types of expenses, such as purchasing cards, department cards, departmental cards (virtual cards), travel cards, vehicle cards, and virtual cards. The Mastercard Corporate Card also offers integration with accounting and travel expense software.
Comments on Funding:
Funding takes the form of a revolving line of credit, through a corporate card.
This account offers the following features and benefits:
– Annual fee: $35;
– Interest rate on purchases: 19.15%;
– Interest rate for balance transfers and cash advances: 9.9%.
Benefits:
1. Access to card management and accounting platforms;
2. Manage your card’s settings;
3. Different types of cards are available based on your needs;
4. Receive detailed spending reports;
5. 20% discount with SAP Concur;
6. Optimized time management related to purchase processing.
Continuous Intake
Eligibility:
Applicants must be businesses with sales over $2M.
Application Steps:
Applicants must contact the bank at toll-free:1‑844‑394‑4494 (options 4 and 1), from 8 am to 6pm, Monday to Friday.
Documentation Needed:
No specific documentation has been identified.
Other Things to Note:
1. Grace period: No interest will be charged on purchases made during the month, provided the client pays the balance in full within twenty-one (21) days of the statement date. This grace period does not apply to cash advances or balance transfers.
2. Minimum payment: If your account balance is lower than $10, you must pay the entire balance. If you reside in the province of Quebec, your minimum payment will correspond to 5% of the credit card account balance plus any overdue payment or $10, whichever amount is higher. If you reside outside of Quebec, your minimum payment represents 2.5% of the credit card account balance plus any overdue payment or $10, whichever amount is higher.
3. If you are a business that chose the corporate responsibility, please refer to the cardholder agreement and account statement. Account statement: A statement is sent monthly.
About the author
Maurice
