What account type should I sign up for?
At CardUp, we offer two distinct products: the CardUp Personal Account and the CardUp Business Account. The choice between these two account types largely depends on the nature of the payments you intend to make.
- If you are looking to settle personal expenses: such as rental payments, personal insurance premiums, income tax, mortgages, you should opt for the CardUp Personal Account.
- Conversely, if your focus is on settling business expenses: including payroll, supplier invoices, company insurance, and office rent, the CardUp Business Account would be the appropriate choice.
How do you determine if a payment is for personal or business use?
Determining the appropriate account type for your payments is straightforward. If the invoice is issued in a personal name (e.g., Mary Tan), you should register for a Personal Account to facilitate those payments. On the other hand, if the invoice is issued to a business entity (e.g., ABC Pte Ltd), you would need to sign up for a Business Account.
Can I pay on behalf of the company if I am a director?
Unfortunately, no. The CardUp Personal and CardUp Business accounts must remain separate and cannot be intermixed. Each account type is designed to cater to its specific purpose, ensuring compliance and clarity in financial transactions.