The Venn Corporate Card is a corporate prepaid card that lets you make purchases directly from your Venn bank accounts. This simple and effective card offers 1% cash back everywhere and is included with Venn banking plans at no extra cost.

And its receipt upload feature simplifies your business expense tracking.

Venn banking plans

Before getting a Venn Corporate Card, you need to have a plan with Venn. Venn has 3 plans for businesses to choose from. Here are the basic details of each plan as they pertain to the Venn Corporate Card.

Pros to the Venn Corporate Card

There is plenty to like about the Venn Corporate Card.

1. Cash back on purchases

By using the Venn Corporate Card, you'll earn cash back on your business purchases. The Venn Corporate Card keeps it simple – you'll earn up to 1% cash back on your purchases. How much you can spend before you won't earn cash back anymore depends on your tier.

2. Low foreign exchange fee

For any purchases that aren't in Canadian dollars, you'll pay a very low foreign exchange fee of 0.25 to 0.45%, much lower than the typical 2.5%.

And there's an added bonus. If your purchase is in USD, GBP, or Euros, and you have a Venn bank account in the same currency with sufficient funds, Venn will automatically make the payment from this account, completely eliminating foreign exchange fees.

3. Easy expense tracking

Venn makes expense tracking easy for organizations with multiple employee cards. Rather than keeping track of physical receipts, employees can upload them by text or email.

4. No annual fee

This unique package has no annual fee. A little extra savings you can keep for the business.

Cons to the Venn Corporate Card

While the Venn Corporate Card offers helpful, straightforward benefits, it also has a few small drawbacks.

1. Fee for additional physical cards

When it comes to virtual cards, they don't cost you anything. But if you want extra physical cards, each one is going to cost you $10.

2. No insurance included

Beyond the basics offered by Mastercard (like zero liability), Venn does not include any credit card insurance, so you won’t get benefits like extended warranty or purchase protection.

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FAQ

What is the Venn Corporate Card?

The Venn Corporate Card is a prepaid corporate card, designed to make expense tracking simple.

What does the Venn Corporate Card offer?

The Venn Corporate Card offers 1% cash back on purchases, unlimited virtual cards, and low foreign exchange fees.

What are the requirements to get the Venn Corporate Card?

To get a Venn account, you need to be a company director with an email address and registered corporation.