What is a business card in the context of banking?

In the context of banking, a business card refers to a bank card that is specifically issued for managing business expenses. This card is designed to facilitate purchases and payments related to business operations, providing companies with a way to separate personal finances from business finances.

Business cards often come with features tailored to the needs of a business, such as expense tracking, reporting tools, and enhanced fraud protection, helping businesses manage their spending effectively. They can be used for various transactions, including buying supplies, paying for services, and covering business-related travel expenses.

Understanding the purpose and functionality of business cards is crucial for both managing cash flow and maintaining accurate financial records within a company. This differentiation from personal banking cards is important as it allows businesses to streamline their operations while ensuring accountability and transparency in their financial practices.