Table of Contents
The three most important points at a glance:
A clear usage agreement for corporate credit cards helps prevent misuse and ensures legal security.
Companies should provide their employees with guidelines for credit card usage.
Suitable templates simplify the creation process.
Corporate credit card usage agreement: How to protect your business!
Whether for booking travel, covering entertainment expenses, or purchasing business supplies – corporate credit cards are an integral part of modern working life.
But before entrusting such a card to your employees, you should definitely create a usage agreement!
Well-thought-out rules protect both the company and employees from misunderstandings and potential misuse.
But what exactly should be included in such an agreement, and why is it so important?
Why you should definitely use a credit card for employees
From better control over business expenses to simplified accounting processes – a credit card for employees saves time and effort. However, the use by colleagues often leads to uncertainties and conflicts when there are no clear guidelines.
Before we dive into the specific points of the corporate credit card usage agreement, let's take a quick look at the advantages of such cards:
- Liquidity: Companies don't need to make immediate payments, allowing for better liquidity management.
- Simplified expense accounting: All expenses are automatically recorded and listed for clarity, making accounting easier. Many providers also offer additional accounting tools and DATEV integration with their credit cards.
- Transparency: You have a better overview of your employees' expenses.
But how can you ensure that your employees use the card responsibly? This is where the corporate credit card usage agreement comes into play!
Key components of a corporate credit card usage agreement
A well-thought-out corporate credit card usage agreement provides clarity and specifies which expenses are covered by the card, who is responsible, and how to handle misconduct.
Below, we discuss the key points that should be included in such an agreement:
- Purpose of the Credit Card
Clearly define what the corporate credit card may be used for. Typical uses include: - Usage Restrictions
Set spending limits and restrictions to ensure that the corporate credit card is not used for personal purposes. - Responsibility and Liability
You should also indicate whether the employee is liable in case of misuse or loss of the card and what the consequences of not adhering to the rules will be. - Billing Deadlines and Receipts
The agreement should also specify who is responsible for the expense accounting. Employees must submit receipts for all expenses to the designated person. Set clear deadlines to keep internal accounting up to date. - Data Protection and Security
Ensure that the corporate credit card information is protected. Sensitive information should not be disclosed to unauthorized third parties. This should be covered in a separate section. - Card Return
It's also worth specifying when the employee must return the corporate credit card, whether when leaving the company, returning from a business trip, or for other reasons. Deadlines are also useful here. - Employee Consent
Make sure to state that the employee should read this agreement carefully and sign to agree to the terms. The text should include signature and date fields.
Templates for corporate credit card usage agreements
Templates for such usage agreements can be found online, for example, on juristischemuster.com or juraforum.de.
Why clear structure is important
A usage agreement ensures that all employees use the credit card in the best interests of the company. It provides transparency and helps prevent misuse. Additionally, it gives you as an employer legal recourse if problems arise.
On the other hand, it gives your employees clear guidelines and protects them from unintentional violations.
Corporate credit card comparison
If you're not yet sure which corporate credit card is right for you, here are four examples from our comparison site that are particularly suitable for companies:
| Corporate Credit Card | Benefits | Costs | Special Features |
|---|---|---|---|
| American Express Business | High spending limits, comprehensive insurance in all areas, rewards program | €700 per year | Ideal for larger companies and frequent travelers |
| Pliant Firmenkreditkarte | Flexible usage, automatic expense management, high security, cashback | From €0 per card (if no more than 40 cards) | Very suitable for small and medium-sized businesses |
| Commerzbank Business Card | Worldwide acceptance, no minimum spend, individual card limits, numerous insurance benefits | €34.90 per year | Good for companies with highly variable expenses and frequent international travel |
| Qonto One Kreditkarte | Intuitive management tools, individual limits for employees, virtual cards available, no SCHUFA check | The card itself is free (but there are various subscription plans) | Particularly suitable for startups and medium-sized businesses |
If you want to choose the right credit card for your company, be sure to check out more of our corporate credit card tests!
Tips for properly using employee credit cards
Here are some additional tips on how you and your employees can use the corporate credit card optimally:
- Regular Training: Inform your employees about the proper usage and potential risks.
- Control and Monitoring: Implement a system for regularly reviewing credit card usage.
- Additional Security Measures: Use limits and alert functions to detect unauthorized transactions immediately.
With these tips and a clear usage agreement for employees, you create a secure and transparent environment in which your colleagues can use the corporate credit card in the best interest of the company.
If you need help drafting such an agreement, you can rely on templates available online.
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