Getting Started
There are three reasons why you might not have received your Penny Card/s yet:The address you provided is incorrect.You were not successfully verified during the application process.You have not yet linked your bank account information to your card. Contact Customer Service at 415 871 0896 - 24 hours a day/ 7 days a week, excluding Federal holidays or via email support@thepennyinc.com if you requested your card more than 10 business days ago and still have not received it.
The Penny Inc desktop application, cardholder mobile app, MasterCard debit cards and Virtual cards are all free. There are; No monthly subscription fees No transaction fees No fund transfer fees No annual fees No cancellation fees Foreign currency attract a third party fee of 3%. Some other third party fees may apply.
When you sign up your business for Penny, you will be able to order cards for yourself and your employees. All cardholders must be at least 18 years of age (or older if residing in a state where the majority age is older).
You will need to enter basic business details and upload copies of the following documents:ID of account holder (Government issued ID document containing your photograph, i.e. passport or driving license).Proof of address (Utility bill or bank statement containing your company name and address). Certificate of incorporation (Government issued document containing the details of your incorporated business). Acceptable document formats include: bmp, gif, jpg, jpeg, png, tiff, doc, docx, rar, zip, pdf There is also an E-Communications Disclosure, Cardholder Agreement and Privacy Statement for you to read and agree to. To load funds into your Penny Administration Account, you will need to enter your bank routing and account numbers.
Please make sure the registration information you provided is correct and resubmit your information. If you continue to have issues signing up for Penny, please contact Customer via email support@thepennyinc.com for assistance.
The online registration takes just a few minutes to complete. Just be sure to have your basic business documents ready to be uploaded.We will then verify your company information (in many cases this is instant), and provided we have all the information we require, your cards will be delivered within 10 business days.Contact Customer Support at 415 871 0896 or via email support@thepennyinc.com if you requested your cards more than 10 business days ago and still have not received them.
No, there is no credit check. Penny Cards are Prepaid Debit MasterCards.The credit rating of your employees will not have any impact on using the prepaid debit card you allocate to them.
You must verify your business bank account information before you can load funds or use your card. You will need your bank routing and account numbers located at the bottom of your check. Within 2-3 days we will deposit two small amounts that are less than $1.00 each into your bank account. We will withdraw the combined deposit amounts from your bank account immediately to net zero. Once you see these deposits in your bank account, you must log into the Penny Central Administration Account and enter these amounts. This will verify your bank account and you can then load funds from your business bank account into your Penny Administration Account. It may take up to 3 business days for amounts debited from your bank account to be added to your Penny Administration Account.You can also set up “auto-reload” to automatically load funds to your Penny Administration Account, from your business bank account, with a preset amount when it reaches a specified low balance.
Penny is currently only available to business and their employees within the U.S. We do not offer Penny to business and residents of Puerto Rico, Guam, the U.S. Virgin Islands, American Samoa, or other U.S. territories.
To register your business and order cards for yourself and your employees go to www.thepennyinc.com and select free sign up. You will need to enter and upload some simple information about your business so we can verify you.Once verified (in many cases this is instant), your cards will be delivered to you within 10 business days.
Registered Office: 297 Kingsbury Grade, Suite 100, Lake Tahoe Nevada 89449-4470 Head Office: 600 California Street San Francisco CA 94108
Penny is a reloadable prepaid Debit Corporate MasterCard, integrated with an expense management app (mobile and desktop). Businesses sign up to Penny and order Penny Cards for their employees to use for business related expenses.
Phone App
You can reset your password by clicking “Forgot Password?” at the login screen and following the instructions.
You can change your password once you are logged into the app, within the profile section.
A password helps protect your account security when you log into your account.
Card Basics
For questions in regards to your account, card, or program specific questions contact Customer Service by phone at 415 871 0896 - 24 hours a day/ 7 days a week, excluding Federal holidays. You may also contact Customer Service via email at support@thepennyinc.com.
Virtual cards can be used for online payments or recurring payments. Virtual cards can be set up for one-time payment when purchasing online, as well as the application of merchant and spend restrictions. This is designed to protect the cardholder from becoming a victim of online card fraud.
A virtual card is an online card that is not physically issued by the card provider. A virtual Penny card is the same as a normal Penny prepaid debit MasterCard, but you don’t receive the physical plastic. It is designed to be used for online purchases to provide an additional level of security. It cannot be used for in-person point of sale transactions. Virtual cards can be ordered, assigned, activated and deleted through the Penny Central Administration site on the Cards tab. Restrictions can be applied to the Virtual cards to limit the merchant, and spend limits within a specified time frame.
You can order more Penny Cards via your Penny Administration account by selecting “order new cards” from the Cards tab. Alternatively, contact Customer Support at 415 871 0896 hours a day/ 7 days a week, excluding Federal holidays or via email support@thepennyinc.com for assistance.
No, it’s a prepaid, reloadable debit card.Businesses sign up to Penny and order the desired number of Cards to allocate to their employees. To load the Cards with money, the business transfers funds from their business bank account into a Penny Administration Account. Funds can then be allocated from the Administration Account onto that business’s prepaid cards.There are no lines of credit or finance charges associated with Penny Card. No credit checks are required.
Limitations and restrictions can be placed on the card by the administrator of your company’s Penny account. The settings are managed within the Penny Central Administration site.
You use “CREDIT” to process your transactions. If you are prompted for a PIN number, you press “OK” to bypass this step.
No, it’s a prepaid, reloadable debit card.Businesses sign up to Penny and order the desired number of Cards to allocate to their employees. To load the Cards with money, the business transfers funds from their business bank account into a Penny Administration Account. Funds can then be allocated from the Administration Account onto that business’s prepaid cards.There are no lines of credit or finance charges associated with Penny Card. No credit checks are required.
A reloadable Prepaid Debit Corporate Mastercard, integrated with an expense management app (mobile and desktop). Businesses sign up to Penny and order Penny Cards for their employees to use for business related expenses.
Activation + Loading
Five. If you have specific business requirements for more accounts, please contact us by phone at 415 871 0896 - 24 hours a day/ 7 days a week, excluding Federal holidays. Or send us an email at support@thepennyinc.com.
Allow at least two business days for the money to be transferred from your business bank account to your Penny Central Account.Once visible in your Penny Central Account, money can be instantly loaded onto your Penny Cards and used to make payments immediately.
No, the account must be linked to your business bank account.
When auto reload is ON, you set a specified amount of money to be automatically transferred from your linked business bank account to your Penny Central Administration Account when the balance drops below the specified amount you set. The person in your business with Administration access can set auto reload ON and OFF from the Penny Central Administration Account.
You must first link your bank account information to your Penny Central Administration Account. You will need your bank routing and account numbers located at the bottom of your check. You must verify your bank account information before you can load funds. Within 2-3 days we will deposit two small amounts that are less than $1.00 each into your bank account. We will withdraw the combined deposit amounts from your bank account immediately to net zero. Once you see these deposits in your bank account, you log in to the Penny Central Administration Account and enter these amounts. This will verify your bank account and you can then load funds into your Penny Account. It may take up to three business days for amounts debited from your bank account to be added to your Penny Account.You can also set up “auto reload” to automatically load funds to your Penny Central Administration Account, from your business bank account, with a preset amount when it reaches a specified low balance.
Once you receive your card you can activate it through the Penny App. The app can be downloaded from both the Apple App Store and Google Play. Alternatively, you can activate by the automated customer service line 24 hours a day at 415 871 0896
Using the Card
For business owners, there is no minimum amount of funds that you are required to load into the Penny Administration Account. The maximum amount of funds that may be loaded to your card is $5k per load or reload.
Your business’s Penny Administrator could have put restrictions on your card, for example daily spend limits or blocked merchants. Please check with your business’s Administrator to see if there are any restrictions on your card.
If you suspect an error or want to dispute a transaction, contact us as soon as possible either by phone at 415 871 0896 or at support@thepennyinc.com.
Firstly, use the Penny App to deactivate your card. Then hand your card back to your employer’s Penny Administrator. They will then remove you as the card’s owner. You can also ask your business’s Penny Administrator to deactivate the card on your behalf.If you change your mind and want to reactivate your Penny Card you can do so via the Penny app.
If a merchant gives you a credit for merchandise returns or adjustments, the merchant may do so by processing a credit adjustment, which will be credited to the available funds on your Penny Card.Penny Inc are not responsible for the delivery, quality, safety, legality, or any other aspects of goods and services that you purchase with your Card.
You can request more funds to be loaded onto your Penny Card via the app. The request will be sent immediately to your business’s Penny Administrator. Fund loads to your card from the Penny Central Administration Account are instantaneous.If you do not have sufficient funds available on your Penny card to process a transaction, you can request that the merchant charge a part of the purchase to your card and pay the remaining amount with cash or another card. These are called “split transactions.” Some merchants do not allow cardholders to conduct split transactions.If an authorization request for more than the available balance on your card is received, it will be declined.
A purchase transaction may read as “pending” until the merchant sends the final transaction amount. Pending funds are not available.
No, the Penny Card cannot be used at an ATM or for cash back transactions.
You may view your transaction history by logging into your Penny app.
The Penny card is designed for business related expenses only. The funds loaded on the Penny prepaid debit Master card are funds from the business's bank account.
You may be prompted to enter a ZIP code when using your card. The ZIP code of your Penny card will be the ZIP code of your registered company address.
No, you cannot get cash back with the Penny Card or use it at an ATM.
Yes. Please be aware that when the total amount due is unknown (for example when checking in to a hotel), merchants have the right to pre-authorize the purchase, which puts a hold on the funds. A restaurant, for example, might hold up to 20% or more to cover whatever you tip. To avoid any problems, we recommend that you call hotels and rental car companies first to inquire about their prepaid card policy, and ensure you have sufficient money loaded onto you Penny Card.
When purchasing gas we strongly recommend paying inside at the cashier. If you choose to pay at the gas pump terminal outside (pay at the pump) you must have at least a $100 balance to cover the merchant holding a pre-authorization amount on the card. If you don’t have at least a $100 balance your purchase may be declined.
Yes, you can use your card to shop and pay bills on any website that accepts MasterCard. You cannot use your Penny Card for online gambling or illegal transactions.Your business’s Penny Administrator could have also added additional restrictions to where and how your card can be used, e.g. daily spend limits, blocked merchants, no online purchases. Please check with your business’s Administrator to see if there are any additional restrictions on your card.
Once you activate your card and load it with money, you can use it everywhere worldwide, where MasterCard is accepted.Your business’s Penny Administrator could have also added additional restrictions to where and how your card can be used, e.g. daily spend limits or blocked merchants. Please check with your business’s Administrator to see if there are any additional restrictions on your card.You may not use your Penny Card for cash withdrawal or cash back transactions, online gambling or illegal transactions.