Corporate Mastercard
The Corporate Mastercard brings a new level of efficiency to corporate card use and reporting. Assisted by Internet technology, you are able to monitor card usage and expenditure.
When it comes to business purchasing, travel and entertainment, choosing the right card and expense management system, to control and manage your organisation's expenditure is essential. That is why the Corporate Mastercard has been developed to provide much more than simply the purchasing efficiency and global acceptance you would expect from a corporate card.
By linking your Corporate Mastercard Facility to Mastercard Smart Data Online, a complete online expense management system, you can access up to 20 reports, giving you greater visibility of card use and expenditure. Take a look at our demonstration to see how Mastercard Smart Data Online can help make your credit card management easier.
Convenience
Mastercard acceptance
To meet the needs of our Corporate & Business Bank customers, Bank of Melbourne Corporate Mastercard gives you worldwide acceptance for purchases, cash advances and ATM withdrawals wherever Mastercard is accepted..
MIS Reporting via Mastercard Smart Data Online
Mastercard Smart Data Online can help make credit card management easier. This internet-based management system provides sophisticated reporting and management options featuring details of all card expenditure and transactions.
Online reporting makes expense reconciliation, monitoring and auditing easier than ever before. Up to 20 different reporting functions are available, delivering a new level of control over card use and management.
Mastercard Smart Data Online helps beat the paper chase for you and your staff. Key functions and features include GST management capabilities, individual cardholder access for transaction authorisation and reconciliation, and the ability to download data and interface with compatible financial systems.
Mastercard Smart Data Online allows you to engage with travel agencies to provide specific travel data. This enhanced information enables you to negotiate supplier pricing and identify cost saving opportunities. An example of these travel partners include Qantas Business Travel, Amex Travel Management and Avis Car Rental.
Take a look at our demonstration to see how Mastercard Smart Data Online can help make your credit card management easier.
One card convenience
Our one card strategy gives you the convenience of making a variety of purchases from general procurement and purchasing for travel and entertainment.
No limit to the number of cards
There is no limit to the number of cards available to be issued to employees within your organisation provided the total of all individual card credit limits does not exceed the facility limit.
Up to 35 days interest free on purchases
Your suppliers enjoy almost instant payment while you can benefit from an interest free period of up to 35 days on purchases when you pay your closing balance in full by the statement due date.
Automatic payment from any bank account
Save time and effort on paperwork with the convenience of automatic monthly payments. At the end of every month Bank of Melbourne automatically debits the total debit balance of all cards to your nominated account.
Purchases up to the cardholder available balance
Cardholders will be able to obtain cash advances and make purchases up to the available balance on their card. We provide you with the flexibility to set for each card the credit limit and daily ATM cash withdrawal limit.
Additional deposits
Additional deposits to card accounts can be made via BPAY®, or over the counter at Bank of Melbourne or BankSA branches.
Interface with Financial Management systems
You won't need special software to integrate Mastercard Smart Data Online into your existing accounting system. It lets you or your staff transfer data electronically, which could save hours of administrative time each month. If required, all transactions can be allocated a general ledger code and/or a project code. For maximum efficiency, reports and data can even be downloaded, if required, into your organisation's own financial management system.
Control
Individual card credit limits
We provide you with the flexibility to allocate cards to selected employees and set their individual credit limits (between $500 and $250,000).
ATM cash withdrawal limits
ATM cash access is available throughout the world with each cardholder using their own Personal Identification Number (PIN). Daily ATM cash withdrawal limits can be specified for each cardholder between $0 and $2,000.
Hierarchy management control
Mastercard Smart Data Online uses a hierarchical reporting structure. The hierarchy groups cardholders, departments, or divisions for the purpose of running reports, exporting transaction data and reviewing transactions. The administrator will have the highest level in the hierarchy and will have access to all levels, including supervisors and accounts.
Control on cardholder spend
You have the ability to control cardholder spend by monitoring cardholder expenditures, reviewing reports that summarise all card transactions, purchases at specific merchant types, and so on. Reports can be scheduled to run at whatever frequency you require - e.g. daily, monthly, weekly, quarterly etc.
Card activity monitoring can be available up to 48 hours after the actual transaction.
Authorise transactions online
Cardholders can check and authorise transactions via Mastercard Smart Data Online as frequently as required. They can split transactions online if they are for multiple purposes (e.g. lunch bill - part FBT and part not) or for general ledger allocation across multiple cost centres.
A foreign transaction fee
A 3% Foreign transaction fee is payable as a percentage of the Australian dollar value of any Foreign transaction.
Foreign transaction is any transaction made using a Card:
- in a currency other than Australian dollars; or
- in Australian dollars or any other currency with a merchant located outside Australia; or
- in Australian dollars or any other currency that is processed by an entity located outside Australia.
Note: It may not always be clear to you that the Merchant or entity processing the transaction is located outside Australia.
Security
Secure access to Mastercard Smart Data Online
You have the ability to create a secure access hierarchy, so that transaction and account data can be shared throughout your organisation with appropriate levels of security access.
Complimentary Unauthorised Transaction Insurance and Transit Accident Insurance covers
Transit Accident insurance covers against specified accidental death or injury while riding, boarding or alighting as a passenger in a plane,sightseeing bus, train or shorthaul ferry when you have purchased the tickets for the entire trip using your Credit Card before you leave (terms, conditions, exclusions and eligibility criteria apply).1
1. Complimentary Insurance covers: AWP Australia Pty Ltd ABN 52 097 227 177 AFSL 245631, trading as Allianz Global Assistance (AGA), under a binder from the insurer, Allianz Australia Insurance Limited ABN 15 000 122 850 AFSL 234708 (Allianz), has issued an insurance group policy to Westpac Banking Corporation ABN 33 007 457 141 AFSL and Australian credit licence 233714 (Westpac) which allows eligible persons to claim under it as third party beneficiaries. Access to the benefit of cover under the Credit Card Complimentary Insurance is provided to eligible Bank of Melbourne cardholders by operation of s48 of the Insurance Contracts Act 1984 (Cth). If an eligible persons wishes to claim any of these benefits, they will be bound by the eligibility criteria, terms, conditions, limits and exclusions contained in the Complimentary Insurance Policy Information booklet which may be amended from time to time. This insurance is underwritten by Allianz. Westpac does not guarantee this insurance. This information does not take your personal objectives, circumstances or needs into account. Consider its appropriateness to these factors before acting on it.
Mastercard® is a registered trademark, and Mastercard ID CheckTM is a trademark of Mastercard International Incorporated.
BPAY® Registered to BPAY Pty Ltd ABN 60 079 137 518