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MarginEdge Card - Common Questions

Jenny Vaughn
Updated

What is the MarginEdge Card?

The MarginEdge commercial charge Mastercard® issued by Patriot Bank, N.A, is the corporate card built for restaurants. 

  • Every swipe gets coded and categorized with the upload of a receipt. 

  • No more manual coding or data entry. 

  • Transactions sync straight into MarginEdge eliminating the chance of duplicate entries or mismatched reports.

How does the MarginEdge Card work?

The MarginEdge Card enables you to make important purchases necessary to keep your restaurant running smoothly. Purchases made are immediately available to view in your MarginEdge account. 

  1. Complete the sign-up form (no credit check needed)

  2. Issue cards to authorized users straight from the MarginEdge app

  3. Admins can set daily spend limits  

  4. Your employees will receive their cards within 5-7 business days once requested!

After your employee confirms receipt of their card their card will be available for use. Daily spend limits can be set when issuing the card and modified at any point after receipt of card. 
 

How does billing and payment work for the MarginEdge Card?

Each MarginEdge Card statement period is 7 days. Upon the close of a statement period, an ACH debit will be initiated for your outstanding statement balance. You will see the funds withdrawn from your account 1-2 days after the close of a cycle. Because payments are automatically processed from your account, there’s no APR, no interest and no extra bills to manage.
 

How do I qualify? Will there be a credit check or credit reporting?

This is only for US-based customers and only available to users with MarginEdge Admin privileges. You will need to provide the required business details and a valid bank account, but there is no credit check needed for the MarginEdge Card! 

MarginEdge does not report any payment history to credit bureaus and no bureau-reporting partner programs exist. 
 

What is required to get the MarginEdge Card?

You can sign up for the MarginEdge Card card by logging into your MarginEdge account and navigating to ‘[me] Card’ in the left hand navigation bar. 

To complete the signup you will need to provide some business details and a valid US bank account to process repayments. Cards may only be sent to valid US Addresses (including Puerto Rico). (Here's why.)

These details will include your name, address, date of birth, company EIN / SSN and other information that will allow us to identify you in accordance with federal law. Any Beneficial Owners will also need to submit their information. No credit check is required.

Once the account is approved, any additional individual cards must be associated with an existing MarginEdge user and will need an email address and phone number for signup. 
 

Are there any fees or costs associated with using a MarginEdge Card?

The MarginEdge Card is included for all US based MarginEdge customers as a part of your standard subscription. There are no fees for issuing a card. However, you may incur a $30 fee if MarginEdge is unable to collect the statement balance in full upon the due date.

The MarginEdge card does not offer any rewards or spending points. 
 

Do I have to sign up for an account in each separate store I manage?

You have the option to either sign up each individual unit or all units together in company mode. When managing it at the company level, you can complete the signup from any store in MarginEdge. Once account activation is complete, MarginEdge Admins can then issue cards to any users across their locations.
 

How can I manage individual cards for my employees?

When an employee receives their card, they will need to log in to MarginEdge to verify and activate the new card. There is no limit to the number of cards, and each individual card that is issued can be managed from your dashboard by Admins. You can easily: 

  • See all transactions
  • Upload missing receipts 
  • Set daily spending limits
  • Cancel, pause or reissue a card 

Do I have a personal spending limit?

Businesses signing up for [me] card will be assigned a credit limit that will be viewable from the [me] card dashboard. Card administrators may assign a daily spend limit when issuing a card. 
 

Can I Request a Credit Increase?

MarginEdge Admins + Accounting users can request an increase to the company spend limit. From the Card Dashboard, click "Request Increase". 

Enter the requested spend limit. We encourage you to provide a note to describe the business reason for the increase. Our team will be in touch with a decision! Note that supporting financial documentation may be required as part of the review process.
 

Where can I use my MarginEdge Card?

You can use your MarginEdge Card everywhere Mastercard is accepted in the United States.
 

Is MarginEdge a Bank?

MarginEdge is not a bank.  We work with Patriot Bank, N.A, to offer you the MarginEdge card.
 

Why do I have to provide my personal information (including SSN)?

To help the government fight the funding of terrorism and money laundering activities, federal law requires institutions to obtain, verify and record information that identifies each person who opens an account. What this means for you: when you open an account we will ask for your information about the business and key personnel that will allow us to identify them. We may also ask for identifying documents.

 

Where to Learn More

Financial Services provided by Patriot Bank, N.A, Member FDIC.