Cashplus Business Account Review [Complete Guide]

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Cash is a division of Cashplus Ltd, registered in England and Wales. Cash Corporation Limited was founded in 2009. Cash Corporation Limited by Noel Joseph and Jace Christopher McGrath.

Cash Plus began operating as a company on the 12th March 2010 with six employees, Cash Plus provides over 100,000s people with instant access to their funds.

Cashplus is largely considered a prepaid card provider. Cash Cards are accepted at over 50,000 retailer outlets such as Argos, M&S, and Tesco as well as online retailers such as Amazon and Play.com.

The Cashplus Business Account

The Cashplus Business Account offers an alternative to traditional business banking. A cashless business account cuts out the bureaucracy associated with business banking, while still giving tools to help your company grow.

Cashplus is different from traditional banks in that it does not offer overdrafts or long-term loans. Cashplus operates on a prepaid basis so you only pay for what you use and when you need it. Cash Cards work as Cashplus Business Account Cards and Cash Mastercards.

To use Cashplus’ business account you will need to apply for a Cash Card through the website, over the phone, or at a Cashplus branch. You can set up direct debits with suppliers and customers using these cards.

Each time you load money on your card from your Cashplus Business Plus account you will receive a statement of your transactions on your business Cash Plus statement. These are paid monthly.

The annual management fee for a business account is £20.00 per month, if the average monthly balance is above £100,000 then the annual management fee is waived. The fees for using the card are very competitive with both standard credit cards and debit cards which makes them attractive for small businesses on a budget.

What are the features of the Cashplus Business Account?

Cashplus Business Account offers a prepaid account, Cash Cards work as Cashplus Business Account Cards and Cash Mastercards. The Cashplus feature allows you to manage your company’s spending and cash flow by allowing you to carry out the below features:

  • Cash Plus allows both online and mobile banking through their website using all major browsers (Internet Explorer, Mozilla Firefox, and Google Chrome).
  • Cashplus also offers the Cashplus Cash App for iOS and Android devices.
  • You can use Cashplus’ business account to set up direct debits with suppliers and customers using Cash Cards.
  • Cashplus is a UK-based company that has been in operation since 2010. Cash Plus provides over 100,000 people with instant access to their funds. Cashplus is largely considered a prepaid card provider. Cash Cards are accepted at over 50,000 retailer outlets such as Argos, M&S, and Tesco as well as online retailers such as Amazon and Play.com

What are the advantages of a Cashplus Business Account?

Good for small businesses

The fees for using the card are very competitive with both standard credit cards and debit cards which makes them attractive for small businesses.

Expands into worldwide markets

Has international money transfer services. This makes it possible to receive funds from overseas customers without high transaction fees.

Retail Acceptance

The cash cards accepted at retailers and online are a plus. This can be extremely useful for small businesses that rely on recurring purchases to keep their business going.

Easy to Use

Cash Plus Business Account is a prepaid card provider which makes it easy for customers to pay on the go and in person using their smartphones.

Secure

The company is backed by a highly respected parent company which can make your business feel more secure.

What Are The Disadvantages Of A Cashplus Business Account?

Low customer service reputation

Cashplus has received negative reviews in regards to its customer service. Cashplus App would help to improve their international relations by having better customer support.

Cashplus App could make Cash Plus more appealing to customers across different regions, especially since they already serve the UK market well with good retailer acceptance and competitive fees.

No cash back options

Cashplus App does not provide any cashback options.

No reward system

Cashplus does not have any kind of loyalty program. Cashplus App could provide their customers with better incentives if they created a rewards system. Cashplus App would be more competitive against other prepaid card providers, such as Monzo or Starling, who both offer reward programs to their customers.

No web interface

Cashplus does not provide a web interface that can be used by business account holders. This would be a good option that could help business account holders to control their spending and keep a check on their balances through an online platform.

No Foreign Currency Support

Cashplus Business Account does not provide customers with support for foreign Currencies. Cash Plus uses the GBP for all transactions, so you cannot use your card if you are in a different currency.

This is not a good feature for businesses that operate in more than one currency and could be improved upon by Cashplus Wallet App.

How to open a Cashplus business account?

Cashplus Business Account is a prepaid card account that can be opened very easily. Cash Plus requires you to have at least one business name, address, and two signatories.

Cashplus allows you to open an account online or in-person with another Cashplus customer. Cashplus’ Corporate Credit Cards are issued under the MasterCard brand. Cashplus has both a Cash Card and Cashcard Cash App.

Cash cards can be used just like a standard debit card and can be used to withdraw cash from ATMs as well as buy goods online and in-store. Cash Cards also allow you to transfer money either on the go or at an ATM. Cash Cards come with daily, monthly, and Cashplus App limits.

Is Cashplus Business Account safe?

Cashplus Business Accounts are as safe as you would expect from a Cashplus Wallet Cash Card. Cash plus has their Cash Cards underwritten by Mastercard who have been issuing cards for many years. Cash Plus is considered to be one of the safer prepaid card providers currently available in the UK.

Who Can Open Cashplus Business Account?

Cashplus Business Account is available to any business that conducts its finances legitimately. Cash Plus will check your credit rating to ensure that you can open an account before they process your application.

Cash Plus has the right to reject applications if there are any concerns about your business. Cashplus requires that at least two signatories be present for cash plus business card. Cashplus requires two signatories for all Cash Plus business accounts.

Cash Cashcard can be used in your Cashplus Wallet app on mobile and Cash Plus App and online and in-store. Cash Cashcard can be used as a standard prepaid card for purchases and ATM cash withdrawals.

Cash cards also allow you to transfer money either on the go or at an ATM. Cash cards come with daily, monthly, and Cashplus Wallet limits.

FAQs On Cashplus Business Account

What is Cash Cashcard?

Cash cards are Cashplus Business Account prepaid cards that can be used for purchases both online and in-store. Cash cards also allow you to transfer money either on the go or at an ATM. Cash cards come with daily, monthly, and Cashplus Wallet limits.

Where can I use Cash Cashcard?

Cash cards can be used both in-store and online. Cash cards are like most prepaid cards, so you can make most purchases with your Cash Cashcard. There are some exclusions to where you cannot use your Cash Card.

How long does it take for my Cash Cashcard to arrive?

Cash cards take 2-3 working days to arrive. Cash cards can be used straight away when they arrive, so you will not have to wait long before you can start using your Cashcard. Cash cards can be activated and funded at any Cashplus Customer Service Point or online.

What is the Cashplus Wallet app?

Cashplus Wallet app is a free Cashplus Business Account mobile app that can be used to make purchases, transfer money both on the go and at Cashplus ATMs, and log in to Cash Cashcard or Cashplus Business Account.

Conclusion

Cashplus is Ireland’s Largest Instalment Loan Provider, with over 10 million customers. Its Business Account is tailored to the needs of small businesses providing discounts on overdrafts and credit card rates.

You’ll get your account set up in five minutes. It has numerous benefits of the product: “Low-cost introductory offer for new business- members will get €5 free when they open an account thanks to CashPlus Visa + MasterCard.

And also what makes them unique is that they are the only company that lets their borrowers know exactly how much money they owe each month by showing them their net borrowing value at all times.

Cashplus Business Account lets you deposit receipts, payments, and invoices on your terms with a focus on cash flow. Cash flow can make or break a business.

Cashcard is a Cashplus Business Account prepaid card that can be used for purchases both online and in-store. Cash cards also allow you to transfer money either on the go or at an ATM.

Cash cards come with daily, monthly, and Cashplus Wallet limits. Cash Plus gives you a business account tailored to your needs as a small business.

I lead product content strategy for SaltMoney. Additionally, I’m helping our broader team of 4 evolve into a mature content strategy practice with the right documentation and processes to deliver quality work. Prior to Instacart, I was a content strategy lead at Uber Eats and Facebook. Before that, I was a content strategist at SapientNitro, helping major Fortune 500 brands create better, more useful digital content.

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