1. Does BPI require a minimum number of employees to be issued with BPI Corporate Cards per company?
There is no minimum number. The company can opt to issue just one (1) corporate card.
2. Who assigns credit limit(s) for employee(s)?
It is the company who assigns the credit limit per employee, depending on their individual requirements.
3. How soon can a request for increase in credit limit be implemented?
Same day, as long as the request is received no later than 3pm.
4. How soon can a card cancellation be effected if request is initiated by the company?
Same day, as long as the request is received no later than 3pm. For lost cards, please call our 24-hour Customer Service hotline for immediate blocking.
5. What can the company do to ensure that all expenses made by employee cardholders are for business related activities and not for personal use?
The company should put in place the Policies and Procedures covering its Corporate Card Program. The best practice is to have the cardholder sign an agreement certifying that he/she has read and agrees to comply with the Terms and Conditions governing the use of his/her corporate card.
6. If purchases are made outside the Philippines, in what currency shall the company be billed?
All purchases shall be billed and paid in Philippine Pesos.
7. What are the payment options available for the company? Can the employee pay BPI directly?
The company can pay BPI via any of the following:
a. Auto-debit from the Company account
b. Corporate pay via Express Bills Presentment and Payment facility wherein the company pays online vs. its corporate deposit account the specific amounts for each of the cardholders;
c. Over-the-counter at any of the over 840 BPI or BPI Family Bank branches nationwide
For payments to be made directly to BPI by the employees, the payment options are:
a. Auto-debit from the cardholder's payroll account
b. Online Banking (enrollment required)
c. Phone Banking (enrollment required)
d. Over-the-counter at any of the over 840 BPI or BPI Family Bank branches nationwide
8. Is there any benefit to using corporate cards vs. personal cards?
The Bureau of Internal Revenue (BIR) requires top 20,000 private corporations to withhold and remit taxes on local purchases of goods (1%) and services (2%) made by its employees in the course of doing business. However, the BIR issued a Clarificatory Memo stating that if purchases were made using company-issued credit cards, said purchases would not be subject to any withholding tax. The use of corporate cards therefore allows companies to do away with the administrative difficulties associated with the process of withholding tax.