PEX Visa Business Prepaid Card Review for 2023

The PEX Visa Business Prepaid Card is best for business owners who want real-time visibility into what the business and its employees are spending. Issued by Fifth Third Bank, NA or The Bancorp Bank, FDIC insured, it offers expense management features and four monthly subscriptions, ranging from $0 to $300. There are no fees for the first 60 days and there is a load limit of $25,000 per card.

PEX Prepaid Business Card Example

  • Base: None (Up to 5 cards)
  • Center: $75 per month (Up to 20 cards)
  • Pro: $200 per month (Up to 100 cards)
  • Infinite: $300 per month (Up to 150 cards)
  • $25,000 maximum per PEX card
  • No information provided

When evaluating business prepaid cards, like the Visa PEX Business Prepaid Card, we first look at the features included in their expense management systems, then we look at their fees and rewards.


Who is the PEX Visa Business Prepaid Card best for?

  • Those who want to customize purchasing and spending rules: The card offers full access to the PEX Application Programming Interface (API), allowing you to create and enforce bulk spending rules, operate across multiple cards, and define spending rules for specific transactions.

If this isn’t what your business needs, check out our recommended alternatives below.

PEX Visa Business Prepaid Card Fees

There are no monthly fees for the first 60 days. After that, you have to choose from the following plans.

did you know There are special rates if you have a non-profit organization. Learn more by clicking here.

There are additional charges for special services:

  • Request transfer returned: $25
  • Card issue (up to four business days): $45
  • Card rush (up to three business days): $55
  • Automated Clearing House (ACH) transfer from a PEX account to your business checking account: $5
  • International Service Assessment (per transaction): Up to 1.5% of the transaction value.
  • Foreign transaction: 0.8% to 1.5% of the value of each transaction, depending on the country where the transaction was made.

PEX Visa Business Prepaid Card Rewards

There are no rewards for new or existing users.

How to transfer funds on the PEX Visa Business Prepaid Card

You can deposit funds into your PEX account by transferring funds directly from your bank, credit union, or other financial institution via electronic funds transfer (EFT), ACH credit, or outgoing ACH transfer. Please note that the transfer of funds may take one to two business days.

Features of the PEX Visa Business Prepaid Card

All plans come with real-time transaction data, exports to QuickBooks and Xero, automated spending and financing rules, 24-hour customer support, and more. To learn more about the different features of the plans, click here.

cards

You can create physical cards for employees and virtual cards for subscriptions, travel and recurring expenses. This allows you to structure your corporate card program in the way that works best for you.

Money

The maximum balance for any individual PEX card is $25,000. When there are unused funds on an individual PEX card, transfer them back to the main PEX account where they can be redistributed to other employees’ cards. This can be done via an ACH transfer from your PEX account to your business checking account for a fee of $5.

Expense management system

PEX Spend & Expense Management allows you to set approved categories and spending limits. Report transactions in real time as cardholders submit receipts and accounting codes in the mobile app. PEX API can also be integrated into your system, allowing you to have a comprehensive and innovative way to manage employee expenses and company payments.

PEX is available for PC (Windows and Mac), iOS and Android. The mobile app has a rating of 4.2 out of 5 on the App Store and a rating of 4.4 out of 5 on Google Play. Some users said they had difficulty uploading receipts and the app crashed when trying to upload them. Other reviewers mentioned how simple and easy it is to use when tracking expenses.

PEX Visa Business Prepaid Card Pros and Cons

Alternatives to the PEX Visa Business Prepaid Card

If you want to compare one card with another, click on add to compare to see details in a side-by-side comparison.

Business Bento Visa® Debit Card

  • Start: $29 per month; up to 10 cards
  • Equipment: $69 per month; up to 25 cards
  • Professional: $149 per month; up to 100 cards
  • Business: If you need more than 100 cards, please contact Bento at (866) 200-8455 or support@bentoforbusiness.com
  • 60 day free trial
  • No setup fees
  • No debit fees
  • No interest charges (not a credit card)
  • No domestic transaction fees
  • No international transaction fees
  • No decline or overdraft fees
  • Deposits through Bento Transfer are limited to a maximum of $10,000 per day
  • card purchases: maximum of $25,000 per day, although the account holder can reduce the limit on individual cards or set spending restrictions by category
  • ATM withdrawal: $500 per day (only the account owner has access)
  • Cashback at point of sale (POS): $500 per day (only the account owner has access)

  • The Bento for Business Visa® Debit Card is our premier business prepaid card
  • Allows you to deposit via Bento Transfer, with a maximum of $10,000 per day
  • Allows you to make a maximum card purchase of $25,000 per day, though the account owner can lower the limit on individual cards or set spending restrictions by category
  • Allows you to withdraw $500 per day at an ATM, and only the account owner has access to it
  • Charges based on the number of cards needed to issue

Citi Purchasing Card

  • No annual fee
  • The costs are customized for each company; contact a Citi representative for details.
  • Balance must be paid in full each month
  • Most legal and verifiable companies are eligible to apply

  • Citi® Purchasing Card is our leading purchasing card
  • No annual fees and costs can be customized to your business needs
  • Requires you to pay the balance in full each month
  • Offers robust spend controls and streamlined purchasing and payment processes

Bank of America® Business Advantage Unlimited Cash Rewards Secured Credit Card

Business Advantage Unlimited Cash Rewards Secured Credit Card

Those who cannot qualify for unsecured business credit cards

apply now

on the secure Business Advantage Unlimited Cash Rewards Secured Credit Card website.

  • Get unlimited 1.5% cash back on all purchases
advantage
  • No annual fee
  • unlimited rewards
  • Build business credit
cons
  • security deposit required
  • no sign up bonus
  • No 0% introductory APR
  • Cash Flow Management Tools
  • Travel and emergency services
  • Online and mobile access
  • Balance Connect™ for Overdraft Protection
  • Zero Liability Protection
  • Get unlimited 1.5% cash back on all purchases
advantage
  • No annual fee
  • unlimited rewards
  • Build business credit
cons
  • security deposit required
  • no sign up bonus
  • No 0% introductory APR
  • Cash Flow Management Tools
  • Travel and emergency services
  • Online and mobile access
  • Balance Connect™ for Overdraft Protection
  • Zero Liability Protection

Bottom line

The PEX Visa Business Prepaid Card is a great option if you want to customize your purchasing and spending rules and don’t need rewards. It allows business owners to plan ahead by setting spending controls on physical and virtual cards. It’s free for 60 days and offers a free plan for those who need up to five cards, but charges international transaction fees.

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