This article is for: admins and finance teams.
Factorial cards spend only the money in a cards account: a separate balance for each legal entity that you fill by bank transfer. Open it, add funds (top up) when it runs low and keep it verified, so payments aren't declined.
Open the cards account
Overview
To open a cards account for Expenses, you need Can manage cards and Expenses in your company. One person who can represent the company must fill in the whole form: with several people, verification usually fails or is delayed. Have the documents ready (FAQ 1). Verification usually takes up to a week.
How to use
- Go to Treasury > Accounts and click Connect account.
- Choose the Legal entity, and Expenses as the account's purpose. Follow the steps to our card partner's secure form.
- Fill it in, upload the documents and submit. The account then shows In review.
- Once it's verified, it's Active. If it shows Finish account setup, click it and confirm the details.
Creating a card for a legal entity with no cards account? In Spending > Employee expenses > New card, when you choose that Legal entity, Factorial shows "No cards account for … yet". Click Create account in that message to open one from there.
Check the balance and add funds
Overview
Cards spend only what's in the account, so add funds before the first payment. The Add funds window says a transfer may take up to 2 business days; instant transfers aren't supported.
How to use
- Go to Treasury > Accounts and open the cards account. Its Balance is at the top.
- Click Add funds.
- Copy the Beneficiary name and Account number shown. They aren't your company's own details.
- Make a bank transfer to them from your company's bank. It appears as Funds added in the account.
Keep the account verified
Overview
Our card partner sometimes asks companies to review their details again. The account then shows Missing info in Treasury > Accounts, and Treasury > Cards shows Review your account with a deadline. Update it before that date to keep using your cards.
How to use
- In Treasury > Accounts, click Continue setup on the account showing Missing info (or Go to account settings in Treasury > Cards).
- Add or correct what the form asks and submit. The account goes to In review, then Active.
Tips and Best Practices
- Each legal entity has its own cards account. Opening one takes about 5 minutes of your time.
- Use documents that match official records exactly: same company name, same address.
- Check Treasury > Accounts every few months: Missing info means something is needed.
- You can also ask One to help you with your cards.
- Related: What are Factorial cards, and why use them for company spending? · How do I create or request a virtual, physical or single-use card? · Factorial cards: common questions and quick fixes
Troubleshooting and FAQ
Troubleshooting
- My cards account disappeared from Treasury. Check in this order. First, look under In review in Treasury > Accounts: an account that isn't verified yet is listed there, not under Active. Second, clear the Legal entity filter. Third, check that you have the permission See banking transactions and, if the account is limited to chosen members, that you're one of them. Treasury > Cards needs Can manage cards.
- I don't see Treasury > Accounts, or I can't open the account. You need the permission See banking transactions. Ask an admin to add it to your permission group.
- I don't see Connect account in Treasury > Accounts. It doesn't show for every company. Go to Spending > Employee expenses > New card, choose the Legal entity and click Create account in the "No cards account for … yet" message instead.
- I can't see a cards account that exists. A cards account can be limited to chosen members, and then only they can see it. Ask your admin to add you as a member of the account.
- I can't start the account. You need Can manage cards (it includes Manage bank accounts), and your company needs Expenses. Opening a cards account also isn't available during a free trial. If the legal entity already has one, the option shows Legal entity already has an Expenses account.
- The account shows Upload document or Complete identification instead of Continue setup. Click it and follow the steps: the card partner needs that item.
- The account still shows Missing info after I submitted everything. The card partner couldn't match what you sent against the company register, or a document isn't accepted. Click Continue setup again and check what's still requested. If nothing is, contact our support team.
- The account shows Rejected. The account was rejected and can't be reopened from Factorial. Contact our support team.
- Card payments are declined for insufficient funds. Add funds to the cards account. A transfer may take up to 2 business days.
FAQ
1. What do I need to open a Factorial cards account?
One person who can represent the company, with: the company's name, address, phone, tax ID, executives and owners; their own name, address, date of birth, email, phone, role and an ID scan (passport, driving licence, national ID front and back, or foreigner ID card); and a proof of address that matches the one you enter (utility bill, bank statement or phone bill, government letter, or residence certificate).
2. How do I see the balance of my cards account?
Go to Treasury > Accounts and open the cards account: Balance is at the top. Each active account in the list also shows its balance. When the balance is zero, Treasury > Cards shows a message with Add funds.
3. How do I top up (add money to) my cards account?
Open the account in Treasury > Accounts, click Add funds, and make a bank transfer to the Beneficiary name and Account number shown. The top-up appears as Funds added.
4. How do I move money from the cards account back to our bank account?
Factorial has no button for this. The account's Details show an External Account, which the product says is "used in case of fund withdrawal". If you need money back, contact our support team.
5. Is the "Active" figure in Treasury > Accounts my balance?
No. Active is the heading of the group of accounts whose setup is finished; accounts still being verified are under In review. The amount shown on each account is its balance.
6. How long does a top-up take? Can I use an instant transfer?
The Add funds window says a transfer may take up to 2 business days and that instant transfers aren't supported.
7. My bank says the BIC doesn't match the IBAN. What do I do?
Make the transfer with the IBAN only. For a SEPA transfer the BIC isn't needed.
8. Who is told when the cards account balance is low?
People with Can manage cards get a notification when the balance falls below 1,000 in the account's currency. Top up from Treasury > Accounts > Add funds.
9. Can I download the movements of the cards account?
Open the account in Treasury > Accounts and click Export transactions.
10. Is a Factorial card linked to our company bank account?
No. A card spends only the balance of the cards account. You move money into it by bank transfer.
11. The card partner says my account will be "Restricted soon". What do I do?
Open Treasury > Accounts, find the account with Missing info, click Continue setup and add what's asked. Do it before the deadline shown in Review your account, so you can keep using your cards.
12. My information was declined after I submitted it. What now?
Check that the names, address and documents match the official company register, and submit again from Continue setup. If it's still declined, contact our support team: your account is managed through Factorial.
13. The verification code goes to a phone number we no longer use. How do we change it?
Contact our support team. They'll help you update the phone number linked to your cards account.
14. How long does verification take?
Usually up to a week, as long as everything you sent is correct and your business isn't in a category the card partner doesn't support.
15. Do I need a cards account to use Expenses?
No. You can manage expenses without cards. The account is only needed to issue Factorial cards.