4 reasons why you should switch to a Yokoy Business Mastercard

A business credit card should be cheap, secure and uncomplicated. The Yokoy Prepaid Mastercard can give you all these benefits and more! The card is 100% integrated into the Yokoy expense tool, which means less effort is needed for accounting and more time for you to do interesting things. Here we show you why a change is worthwhile.

1. The Yokoy card is much cheaper than credit cards of other providers

"With the savings that the Yokoy Card has brought us, we were able to cover the entire expense of the Yokoy Tool."

- Ramon Schalch, Managing Director of ViCAFE

With a Yokoy card, you save on the one hand with card fees, and on the other with FX fees.

We all know how annoying card fees can be: Often it is not quite obvious how much a company actually has to pay for the card. For example, many companies do initially benefit from deals that include a free year. However, as soon as the grace period is over, annual fees that range from CHF 100 to 120 have to be factored in. This is not the case with Yokoy. We don't charge any fees and you can order as many cards as you want.

Similarly with the FX fees, we are absolutely transparent and aim to be as inexpensive as possible: For the exchange rate conversion, we rely on the Interbank Exchange Rate and do not charge anything extra (0%).

We therefore assume that our customers can save CHF 300 to 500 annually with a Yokoy card.

An example: What do you actually save?

For a transaction of 1,000 Euros on January 4, 2021, you would have to pay about CHF 1,112.40 with a conventional credit card (with 2% foreign currency surcharge and 0.5% transaction fee).

With a Yokoy card, this 1'000 Euro will be converted to CHF 1'085.26 at the Mastercard daily exchange rate and you will be charged about CHF 1'090.70. So you save more than CHF 20. That is over 2% on a transaction of 1000 Euros.

2. The Yokoy card is 100% secured

The money that is loaded onto the Yokoy card is deposited in a Swiss bank (Hypothekarbank Lenzburg). This means that the deposits are protected by a government guarantee. If something were to happen at Yokoy or Hypothekarbank Lenzburg, amounts up to CHF 100,000 are protected by the depositor protection. Thus, there is no risk for our customers. We do not charge anything for the account.


3. The digital experience

We don't like manual administrative work. That's why the Yokoy card is completely integrated into the Yokoy tool as well:

  • Want to order or cancel a card? That’s easily done in the Yokoy expense tool.

  • After a transaction you will receive an SMS as confirmation. The transaction data is immediately fed into the Yokoy platform and processed.

The administrative effort is thus much smaller. In addition, you can start the registration process for the card account directly in the Yokoy app. The time-consuming work with forms is therefore reduced to a minimum.

4. Analysis, control and spend management

When managing business credit cards, control is a must. While it is important to know who spends how much, having the flexibility as well is a plus. In the Yokoy app, it is possible to set different limits for different cards. This flexibility is possible because we offer a prepaid card. In contrast, a limit change on a standard credit card typically needs a new credit application, which will take up more of your time and money.

Another advantage of the prepaid card is speed. With the Yokoy card, we can order ten cards today and have them ready tomorrow. Thanks to Revolut and Challenger banks, prepaid has become the new standard and is accepted worldwide just like any other Mastercard

In addition to good spending control, Yokoy makes it very easy to analyze company spending. With our new Analytics feature, deep-diving into cost structures is a breeze.

Conclusion:

Even if switching providers sounds like a big hassle at first, the cost savings, flexibility, and smaller administrative overhead make switching to a Yokoy Businesscard absolutely worth it. Contact our experts for more information or for a demo to experience the Yokoy magic yourself!

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