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Frequently Asked Questions

Q. How much does it cost to start using Budgetly?

Our subscriptions starts at $89 per month, including our white glove onboarding. See our plans and pricing.

Q. Do I pay $10 AUD per card or per user?

Budgetly charges only $10 AUD per card. You can have as many users as you like in your account, so it's free for your accountant.

Q. Does your pricing include GST for subscribers in Australia?

If you are an Australian business like us, we will add GST to your invoice. All prices listed are exclusive of goods and services tax.

Q. Are there any hidden fees that I should be aware of?

In the fine print written in our product disclosure statement, we outline all additional costs:

  • Certain merchants may charge an additional fee if the card is used to purchase their goods or services. This fee is solely determined and charged by the merchant.
  • When your employees attempt to make a payment without allocated funds, the transaction is declined by Visa and Budgetly is charged a fee. We add a $1 declined transaction fee to your monthly invoice. 
  • In the rare case where the Visa card is not accepted by a merchant, it might be convenient to allow your employees to use an ATM. In such scenarios, ATM operator fees may be charged. This fee is solely determined and charged by the ATM operator. Example of ATM fees are: ATM Fee (Domestic) $3.00 / ATM Fee (International) $5.00 / ATM Inquiry Fee $0.50.
  • If you make a transaction in a currency other than AUD, the transaction will be made at the applicable exchange rate + 2.99% fee. It’s standard in the industry.
  • Fraudulent Chargebacks of $50.00 is a standard fee in the industry.
  • Our Physical and Virtual cards are $10+GST per month plus an initial issuing fee:
    - Virtual cards - $3 issuing fee
    - Physical cards - $7 issuing fee

Q. What is the type of card that will be given to me?

You will be given a fully functional Visa corporate card.

Q. How soon will the card be issued to me?

The virtual cards are issued out instantly as soon as your account is activated. Physical cards will be mailed out to you within 3 business days.

Q. Can I withdraw cash with my physical card?

Yes, you certainly can or you can block withdrawals. Your physical card functions exactly like any bank’s debit card. This means that you’ll be able to withdraw from any bank or ATM of your choice. Budgetly does not charge any transaction fee, but you might incur a withdrawal fee from the bank’s ATM.

$500 USD limit per withdrawal in Australia or internationally. No limit number of withdrawals.

Q. Can I block any cash withdrawals on the virtual and physical cards?

Yes definitely! You have total control on card restrictions.

Q. Is there a limit on how many payments I can make per month?

No. Our system does not limit the number of payments you can make per month. We do not believe in penalising our customers for making payments. We offer unlimited payments.

Q. Are there limits to transaction amounts?

The daily and per transaction limit is $25,000 AUD. There are no limits to number of transactions per day.

This is reduced to $500 AUD per transaction for payments made with Apple Pay or Google Pay.

Q. Do the cards have to be issued in someone's name?

Because of banking regulations, all cards must be issued to an individual's name.

Q. Can one user have multiple cards in their name?

A user can have as many cards to their name as they wish. Currently, there are no limits to the number of virtual and physical cards that a person can own.

Q. How long am I stuck in a contract?

Our service is free of obligations. You pay by the month and can cancel whenever you want. To close your account, simply contact your Account Manager or create a ticket here.

Once all your transactions have settled, we’ll transfer your balance back to your nominated corporate bank account. Your finance team will also retain access to all your statements and we will ask for your feedback to improve our service.

Q. Do I need to set up a business bank account to use Budgetly?

We’re all about making things easy, so we’ll open your new bank account through our partner Nium with NAB (National Australia Bank).

Q. Are my funds secure?

Yes. When you deposit funds into your Budgetly account, they are held with an Authorised Deposit-Taking Institution (ADI),  and the Australian Government guarantees deposits up to $250,000. Budgetly is a well-funded software company, and we technically and legally can’t use your funds for our own cash flow.

Q. Is Budgetly software secure?

Without a doubt. The simple answer is that we take every step to protect any personal information transmitted via our online products and services, including payment information. The technical answer is that all information is secured by 256 bit SSL encryption to encode the data we transmit, keeping it confidential. Our servers are deployed to Amazon Web Services (AWS), a PCI DSS Level 1 compliant provider.

Q. Tell me more about your anti-fraud detection system?

All payments on the card we provide are monitored by Visa Advanced Authorisation. With over 150 billion transactions per year, Visa AI is the world's best fraud prevention system and a premium service that you can access thanks to our card issuing partner Nium.

Q. Where can I find your legal documents?

Upon registration, we will ask you to review the terms & conditions, service agreement, product disclosure statement, and financial service guide. All documents are available online in our legal hub.

Q. How do I deposit funds into the Budgetly account?

You can use your existing business bank account to deposit funds into your Budgetly account. Deposit instructions can be found inside Budgetly.

Q. How long does it take to transfer funds?

The first deposit would take 24 to 48 hours to appear on your Budgetly account. The next deposits are reconciled to your Budgetly account in real-time. Your funds are available instantly on the cards upon arrival to your account. 

Q. Can I edit and adjust my company budgets as needed?

If you’re the assigned administrator for your company’s account under Budgetly, you will be able to control and edit budgets easily whenever you want. 

Q. Can I see my team’s transactions in real-time?

Yes certainly. You’d be able to see all your updates under the ‘Action Logs’ column in the Budgetly app. Whether it’s transactions, adding users, or editing budgets, you’ll have full visibility into every single action that’s taking place in real-time.

Q. Will there be a tracking number for all my company transactions?

Yes, you will be able to see a tracking number for each company transaction on the Budgetly app or desktop. If you are using Xero tracking numbers, we have it too.

Q. Can I add notes when making a transaction?

Each transaction is built with a ‘note’ section which you can provide an explanation of your expenditure. Your note will be visible to the budget administrator for your company.

Q. What happens if a receipt isn’t uploaded to the Budgetly app or desktop?

If you're unable to attain a receipt for any reason, you’d still be able to push transactions through to your company’s accounting software.

Q. What if I don't use Xero as my accounting software?

Our system is compatible with all accounting software. You can download the CSV file and upload it to any businesses accounting software of your choice.

Q. Is there a minimum system requirement to use Budgetly?

You need a smartphone with an Android or iOS operating system that has access to Google Play or the Apple App Store.
  • iPhone: Minimum requirement is iOS v13.4
  • Android: Minimum requirement is Android 5.0

On a desktop, Budgetly suits most devices with an updated browser. We recommend Google Chrome, but we are also compatible with the latest versions of Firefox, Safari or Edge. You can check your browser here, if you’re unsure of your browser version.

Q. What’s a Target Market Determination?

A Target Market Determination is a document which describes who a product is appropriate for (target market), and any conditions around how the product can be distributed to customers.

It also describes the events or circumstances where we may need to review the Target Market Determination for a financial product. Download a copy of the Budgetly Visa Prepaid Card TMD.

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