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.
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..
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.
Our one card strategy gives you the convenience of making a variety of purchases from general procurement and purchasing for travel and entertainment.
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.
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.
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.
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 to card accounts can be made via BPAY®, or over the counter at Bank of Melbourne or BankSA branches.
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.
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 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.
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.
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.
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 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.
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.
Liability (unauthorised use) and transit insurance covers1 are provided at no extra cost. The complimentary Liability (unauthorised use) Insurance cover protects account holders against unauthorised transactions processed to the account as outlined in the policy. The cover is limited in any twelve months to $20,000 per individual cardholder up to a maximum of $150,000 per overall facility. Transit Accident cover provides certain accidental death and injury cover for cardholders who are injured while travelling as a passenger on a licensed plane, tourist bus, train or ferry when the ticket is purchased on their Corporate Mastercard as outlined in the policy.
QBE Insurance (Australia) Limited ABN 78 003 191 035 AFSL 239545 has issued an insurance group policy to Westpac Banking Corporation ABN 33 007 457 141 which allows eligible Bank of Melbourne account holders and cardholders to claim under it as third party beneficiaries. The terms, conditions, limits and exclusions, of the group policy, are set out in the Corporate Mastercard Principal Terms, which may be amended from time to time. Westpac does not guarantee the insurance. You can get a copy of the policy booklet by calling 13 82 66 or download the Corporate Mastercard Principal Terms (for claim events prior to 1 October 2017).
Effective 1 October 2017: AWP Australia Pty Ltd, ABN 52 097 227 177, AFSL 245631, of 74 High Street, Toowong, QLD 4066 (trading as Allianz Global Assistance) under a binder from the underwriter, Allianz Australia Insurance Limited ABN 15 000 122 850, AFSL 234708, has issued an insurance group policy to Westpac Banking Corporation ABN 33 007 457 141 AFSL and Australian credit licence 233714 (Westpac), of 275 Kent Street, Sydney, NSW 2000 which allows eligible Bank of Melbourne account holders and cardholders to claim under it as third party beneficiaries. The terms, conditions, limits and exclusions of the group policy are set out in the Corporate Mastercard Principal Terms which may be amended from time to time. Westpac does not guarantee the insurance. You can get a copy of the policy booklet by downloading the Corporate Mastercard Principal Terms (effective 1 October 2017).
Need More Information?
If you would like to find out more about our Bank of Melbourne Mastercard Smart Data Online, please e-mail us at SDGEN2@bankofmelbourne.com.au
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