Do you constantly find yourself chasing after your club members for reimbursement receipts? Or discovering that your social chair went way over budget for party supplies? Read on to learn how you can get rid of reimbursements so that you can stop searching after lost receipts and start focusing on why you joined your club in the first place.
If you’re a club treasurer, we’re guessing you’ve had to deal with a situation where you get a reimbursement request that is way over budget or has no accompanying receipt. From there, the hunt begins.
Dealing with reimbursements can become taxing and lead to serious budgeting problems for your chapter, not to mention complicated end-of-year reporting.
The good news is that there is a better way to manage your club expenses and avoid reimbursements altogether that doesn’t involve having everyone pass along the club debit card.
This is where we come into the picture.
Our mobile-friendly banking and financial management app was created specifically for clubs, groups, and other nonprofit membership clubs.
As part of our banking features, your club treasurer can issue club members a virtual Visa® debit card and allocate a specific amount of club money to that card for any type of club expense.
Crowded’s Virtual Visa® debit cards can be accessed via the Apple or Google wallet and members can only spend on cards once the club treasurer has put money on them.
All transactions made on virtual cards show up in the Crowded mobile app where your club treasurer can easily track all club expenses. In other words, this feature is a game changer for any club looking to save time, resources, and money, as well as completely avoid having to deal with reimbursements.
Members also love this method because it means they don’t have to pay out of pocket or remember to submit receipts. Plus, members know in advance how much they can spend, and then there aren’t any awkward surprises.
Your club can already get started using our Visa® digital debit card feature by creating a free Crowded bank account. The good news? There are no signup costs, no minimum balances, and no everyday account fees.
Ready to get rid of reimbursements and start using Crowded’s virtual Visa® debit cards instead?
Want to learn more? Click here!
Originally published at https://www.bankingcrowded.com on May 10, 2022.
