Bank Sohar’s Excel Corporate Credit Card is a first-of-its-kind facility to be introduced in Oman and across the GCC. It is a complete finance solution for businesses, supported by Visa’s unparalleled IntelliLink Spend Management System.
Unlike a personal credit card which is typically used for personal expenses only, a Corporate Credit Card serves as an extension of a corporate finance facility provided to a company by its Bank. Depending upon the approved credit card limit allocated to it, the company may apply for credit cards to be issued to its designated employees. Usage however is strictly limited to corporate related expenses only.
Bank Sohar’s Excel Corporate Credit Card outperforms all other corporate credit cards in that it is a universal payment solution to help businesses make and manage a range of corporate expenditure. A flexible, efficient and innovative reporting system ensures that customers receive comprehensive card statements. Moreover, a sophisticated Spend Management web-based solution allows cardholders to access all the necessary information and tools to make better and more efficient business related decisions.
Based on Visa’s global network, the Excel Corporate Credit Card is accepted at more than 26 million locations including over one million ATMs worldwide. It covers purchases made over the counter, through ATMs, and online, if required.
Bank Sohar's Excel Corporate Credit Card offers the following unbeatable advantages:
- Businesses can allocate individual spending limits aligned to your employee's corporate spending requirements.
- Customers can improve cash flow by minimizing the need for cash advances to employees, thereby eliminating the burden of tracking and reconciling cash flows.
- Users can improve their administrative efficiency by having just one single payment instrument, thus reducing the paperwork involved in processing multiple payments to vendors. A single consolidated invoice also does away with complicated processes related to reconciliations and settlement of expenses.
- All transactions are supported by SMS alerts while advanced chip technology ensures peace of mind against fraud.
- Unique solutions for central and individual statements allows employees to review their statements online along with the assigned central contact person and provide feedback to him/her prior to the central settlement of the corporate account.
- The card comes with the most comprehensive insurance cover, which includes free travel accident insurance and emergency medical assistance of up to US$2 million. The cardholder will also enjoy free zero lost card liability cover, free purchase protection cover, and free corporate liability waiver. The corporate liability waiver program protects corporate customers against losses that might be incurred through card misuse by their employees.
- With the sophisticated Spend Management system, users have the option to integrate their existing accounting system for better expense reporting and account reconciliation.
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