Features
The business holds the liability
The Purchasing and Corporate cards are corporate liability products. This means the cardholder's organisation is liable for the credit extended to it by Westpac under the card facility. Under these arrangements, the cardholders are not individually assessed for credit or liable to all the charges incurred on the card.
We do not offer commercial cards under any other liability types e.g. joint and several or individual liabilities.
Design your own card
Your company has the ability to use the generic Westpac card design or to design your own card to differentiate your own brand name or logo. A minimum of 1,000 cards will be manufactured.
A unique card does not need to have the Westpac logo on the front of the card. “Westpac” will be displayed on the reverse side of the card with our Commercial Card Contact Centre number to call for enquiries.
Flexible reporting options
We are able to provide you with monthly paper statements and reports but also offer a broad range of electronic reporting management solutions customised to meet your needs.
Electronic Reporting
Our card enables you to build automating workflows and business rules, with management delegations, controls to minimise the effort in processing procurement, travel and entertainment requests, and expense claims.
We provide detailed electronic data in MasterCard or Visa formats via direct feeds (into your own expense management system) or via an internet-based portal such as MasterCard’s SDOL or Visa’s VIS. This will include:
- Faster reconciliation through optional automated account coding
- Daily transmission of transaction data available
- Cardholder and supervisor approval of transactions
- Customised reporting.
Alternatively, we can put you in contact with a third party expense management provider of your choice.
Billing accounts greatly simplify monthly settlements and program reconciliation processes
The advantages of a billing account are:
- Each cardholder has the full credit limit at the start of each billing cycle, even before the settlement takes place
- Convenience of reconciliation - all fees and charges are swept across to one single account instead of thousands
- There is no additional cost to use our billing accounts.
Billing accounts are non-plastic card accounts or "suspense" accounts used for the purpose of rolling-up individual cardholder balances (debits and credits) and effectively clearing the balances from the cards at the end of the billing cycle. At the end of each billing cycle, all outstanding credit and debit balances from each cardholder account are swept from the cards and transferred to the billing account. Billing accounts are available at all levels within the organisation's hierarchy. These balances remain on the billing account until the end of the settlement period, implying all cardholders having a zero balance and full use of their credit limit.
Other features of a billing account include:
- The card holder statement continues to list all transactions but reflects a zero closing balance
- The company and sub-levels continue to reflect the balance owing and list the billing account attached to them
- Individual billing account statements are issued to the relevant company sub-levels
- Cards with credit balances at statement date will be reverted to a zero balance
- Government charges, annual card fees and cash advance interest are all transacted directly against the billing account.
Westpac's Added Online Security
Get extra security when you shop at participating online retailers by registering with MasterCard ® SecureCode ™ or Verified by Visa ®, through Westpac Added Online Security service.
Control functionalities to manage spending restrictions
There is extensive control functionality available on our commercial cards. This can assist you to influence the purchasing patterns of your cardholders. This functionality includes:
|
Control |
Description |
|---|---|
|
Individual transaction limit - by value
|
Applying limits at cardholder level and establishing at or across reporting levels, e.g. no purchases over $5,000. |
|
Individual transaction limit - by frequency |
Applying limits at cardholder level and establishing at or across reporting levels, e.g. no more than 5 purchases each day, week or month |
|
Merchant purchase restrictions |
Blocking or restricting a card or group of cards from a merchant category code, or restrictions at a primary category group level (i.e. a group of MCCs) - including overseas transactions Use of non-preferred suppliers can also be traced and tracked, e.g. spending is blocked at Woolworths or at any petrol stations. |
|
Cash access |
Restricting the use of cash access or limiting the amount of cash access for individual cardholders or across the facility, e.g. no more than $500 cash per month |
|
Geographical restrictions |
Limiting card use by country, e.g . a cardholder can only spend in Japan or only in Australia |
|
Time restrictions |
Confining the use of cards to the hours and days of the day on individual cardholders, e.g. 8am to 2pm and 2pm to 5pm, Mondays to Fridays only |
|
Cardholder credit limit |
As nominated by the company. The aggregate total of all cardholder's credit limits must not exceed the overall facility limit |
