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Mastercard Business Credit Card
Making your employee business expenses more manageable
I&M Business Credit Mastercard
With the I&M Bank Mastercard Business Credit Card, you will enjoy financial control with multiple business solutions in one card for business-related travel, entertainment, and other expenses while your employees experience unrivaled financial and lifestyle benefits like purchase of travel tickets, hotel stays, and entertainment.
Benefits to your Organisation:
Accountability
Better way to manage business-related spending incurred by your employees and greater visibility on individual employee expenses.
Convenience
Save time by eliminating the hassle of managing petty cash, advance requests and cash reconciliation.
Control
Set limits on each transaction type (e.g travel spend) at any time as well as the overall credit card limit as desired.
Benefits
Accountability - The card provides expense management tools that allow Businesses to manage costs with simplified bookkeeping and petty cash management tools, allowing businesses more cashflow.
Tailored Spending Limits - Customize spending limits for employees based on their roles and responsibilities.
Expense Tracking - Receive monthly statements in addition to online expense management tools and transaction alerts.
Merchant Offers - Make the most of international offers on MyUS Shipping.com, Mastercard hotel booking, Mastercard Priceless offers like Rentalcars.com, Budget, Intercontinental Hotel Group, Shopify, ZOHO, Adobe, Strong Box IT, Edureka, Meta and more.
Travel Benefits - Benefit from comprehensive travel insurance, purchase protection and airport lounge access.
Concierge Services - Make the most of tailor-made concierge services for assisted travel bookings, restaurant reservations and other business-related activities.
Card Safety - We offer you card safety controls on the I&m On The Go and Web - PIN management with a card lock/unlock facility.
Visit Priceless for a full list of offers locally and internationally.
Visit I&M Gank Group to view the full list of benefits.
Credit Card Payment
A. OTG Mobile Banking App
B. Cheque Deposit: At any I&M Bank Branch countrywide
C. Cash Deposit:
D. At any I&M Bank Branch counter
I&M Business Credit Mastercard Charges
Joining Fee
Kes 4,000
Principal Annual Fees
Kes 5,000
Revolving Credit Interest -% per month on the actual daily outstanding balance
3.5%
Cash Advance Fees
7.5% of cash advanced
Overlimit Charge
Kes 2,500
Late Payment penalty Rate -% of outstanding amount
6%
Minimum Payment Rate
5%
Card Replacement Fees
Kes 1,000
Cash Advance % of credit Limit
40%
Roll Over Amount
95%
Credit Period
Up to 50 days
Unpaid Instruments Handling Fees
Kes 2,500
SMS Alert Fees
NIL
Min Credit Limit Allowed
Kes 50,000
Max Credit Limit Allowed
Kes 3,000,000
Product Billing Cycle Date
10th day of every month
Payment Due date
19 days from statement date
Requirements
Board resolution authorizing the issue of the cards to the person mentioned herein and undertaking liability thereon for the specific employees.
Recent coloured passport-size photographs of card applicants
Copy of National ID/Passports of the card applicants
* Depending on the business's existing relationship with the Bank, more supporting Information/Documents may be requested
Certified copies of six months' bank statements of all company bank accounts
Certified copies of the company Audited Accounts for the last 2 years
Certified copies of Memorandum & Articles of Association of the company
Copy of Certificate of Incorporation
KRA PIN Certificate of the company
Company CR-12 form
Copies of returns filled with the Registrar Office - annual returns and a receipt from the Registrar of Companies
Board resolution authorizing the issue of the cards to the person mentioned herein and undertaking liability thereon for the specific employees
Recent coloured passport-size photographs of card applicants
Copy of National ID/Passports of the card applicants
Want to apply for Mastercard Business Credit Card?
Download the below form and submit it to the nearest branch with the required documentation