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Corporate Credit Card is a type of credit card that can be issued to selected employees of the organization for their official use. It is aimed to provide an easy way of managing official tours and travel related expenditure by eliminating existing cash advance system.
BENEFITS
Facilitating online purchase of any item
Quick and easy bookings and payments for all travel expenses such as hotel bookings, purchase of air tickets, etc
Providing cashless transactions
24/7 account enquiry and Credit Card activation at your fingertips
Instant email alert service for every transaction
Interest free credit facility for a duration ranging between 15 to 45 days based on the time of transaction
Monitor compliance with spending policies of the organization
Enhance travel security and convenience with potential to control the unnecessary expenditure
Worldwide acceptance
APPLICATION PROCESS
Submit application to Cards Division, Corporate Head Office, Thimphu through any of the Bank of Bhutan Branch Offices
Cards Division shall further submit the application to RMA and seek approval based on the justifications provided in the application
Organizations having FC account, USD/INR can directly fill up the Application Form available on the website and submit it to Cards Division through any of the BoBL Branch offices
ELIGIBILITY
Companies incorporated under the Companies Act
Government agencies and ministries
Organizations with foreign currency account
Any other agency like Hotels and Travel Agents approved by RMA
REQUIRED DOCUMENTS
Certification of incorporation/registration (corporate)
Trade license (Business)
Audited Account Statement (Balance Sheet & P&L)/Companies’ Bank Statement
Identity Card/Passport copy of the applicant(s)
USAGE
Valid in all countries
For official purpose, as decided by organization-POS swipe and online purchases
The Corporate Credit card shall be used exclusively for making payment related to travel (airfare, hotel, meals, etc), and/or for institution sponsored expenses (including for medical), and/or other services (online subscriptions fees), which cannot be made via bank transfer and in no way be allowed to make import payments
PAYMENT
Bill payment has to be made by the organization.
LIMIT
As decided by organization for domestic usage and USD limit approved by RMA for international usage
Equivalent to the balance in Foreign Currency account
Any other entity limit: Up to USD 10,000 per annum
SECURITY
Secured by the latest EMV Standard-Chip and PIN
Bank of Bhutan EMV Credit Card comes with embedded microchip, which provides additional security against counterfeiting/duplication of the card. It also provides an extra layer of security with Personal Identification Number (PIN)
FEES/CHARGES
One-time Joining Fee
2623.95 per card
Yearly Maintenance Fee
1048.95 per card
Replacement Fee/ Renewal Fee
315 per card
Interest
2.5% per month. This is applicable only if not paid on due date.
Late Payment Fees
210 or 0.525% whichever is higher
Forex Transaction Fees
1.58% of txn amount for FX transactions
TERMS & CONDITIONS
The detailed terms and conditions are covered in an agreement, which will be signed by the organizations