Completing the set up for your Penny account is easy. The first step is to register your company, which will include details about the business ownership, and about the person who will be responsible for loading the funds.
Once the information is submitted an automatic "Know Your Customer" (KYC) check is conducted instantly approving your company, in the off chance your company is not approved you will be asked to upload some proof documents and a manual check will be performed by a Penny Inc compliance team member.
When the company has been approved, you will receive an email with instructions on how to get started.
The next step is to order your cards and load some funds.
Staff members who are allocated cards simply need to download the phone app and register their card. Once they request funds to be loaded, the cards can be used for purchases anywhere that accepts MasterCard, including online transactions.
Administrators can manage all aspects of the account online, including viewing all transactions on and off the cards, customizing transaction data fields, deactivating cards, and requesting additional funds from your bank.