Penny Inc Review
What is Penny Inc?
Penny Inc is an expense management system created for small and medium businesses. Penny Inc integrates a reloadable prepaid debit MasterCard with an expense management app (mobile and desktop), enabling you to automate, control and monitor your business and travel expenses.
Penny Inc provides business owners with real-time insight into employee spend, capturing the transaction detail and storing the receipt at the time of purchase.
Funds can be transferred instantly to employee cards, anytime and from anywhere. Individual employee cards can be restricted to the merchant category where spend is allowed, eliminating any spend leakage. You can also apply maximum spend limits to ensure employees do not go over budget.
Through the free card holder app, your employees can request funds on-the-go, and apply a project code or cost center to the transaction. To ensure you are never missing a receipt, a prompt to photograph the receipt is generated after the purchase is made.
Penny Inc integrates with most major cloud accounting systems, providing you with seamless account reconciliation.
Show MoreOverview of Penny Inc Benefits
Reduced business expenses:
- Penny Inc is free. There are no monthly subscription fees, and no cost for your prepaid debit MasterCard’s (some third-party fees may apply).
- Reduce spend leakage.
- Eliminate reimbursement disputes from employees using their own credit card.
Save time through automation:
- Eliminate manual data entry, and time-consuming reimbursement spreadsheets and processes.
- Employees are prompted to photograph their receipt at the time of purchase.
- No more lost receipts. Receipts are automatically attached to the transaction.
- Integration with most major cloud accounting software (see the partners page on our website for further details).
Increased employee spend compliance:
- View all transactions in real-time, as they occur.
- Apply merchant restrictions and spend limits to individual cards.
- Control spend leakage.
Increased security:
- No credit risk. The cards are pre-paid debit cards, and you control the amount available on the card.
- Virtual cards can be used for online or overseas transactions for increased security.
- Reduced risk of fraudulent or unauthorized spend.
Overview of Penny Inc Features
- Free desktop and mobile app
- Fast and secure registration
- Prepaid debit MasterCard’s
- Virtual Cards and single use cards
- Interactive dashboard
- Receipt capture and unlimited storage
- Approve, partially approve or decline fund requests
- Instant funds transfer from your Penny Inc account to employee cards
- Order, suspend or cancel cards at the touch of a button
- Apply customized cost center or project codes to transactions
- Apply merchant restrictions
- Apply maximum spend limits
- Integration with most major cloud accounting software
- Reporting – search and export transaction detail
Penny Inc Position In Our Categories
Because companies have distinctive business demands, it is only logical that they abstain from adopting an all-in-one, ”best” system. Nonetheless, it is difficult to try to stumble on such an app even among popular software solutions. The rational thing to undertake can be to write the several main aspects that necessitate careful thought including major features, price plans, skill ability of staff, organizational size, etc. Thereafter, you should conduct your product research through and through. Go over some Penny Inc evaluations and look into each of the software products in your list more closely. Such comprehensive product investigation guarantee you drop unfit apps and select the system which provides all the features your company requires.
Position of Penny Inc in our main categories:
TOP
500
Penny Inc is one of the top 500 Accounting Software products
Companies have diverse wants and requirements and no software application can be perfect in such a scenario. It is pointless to try to find a perfect off-the-shelf software system that fulfills all your business needs. The intelligent thing to do would be to modify the application for your unique requirements, worker skill levels, finances, and other elements. For these reasons, do not hasten and subscribe to well-publicized popular systems. Though these may be widely used, they may not be the best fit for your unique needs. Do your groundwork, investigate each short-listed application in detail, read a few Penny Inc Expense Management Software reviews, call the maker for explanations, and finally settle for the app that presents what you need.
How Much Does Penny Inc Cost?
Penny Inc Pricing Plans:
Free Trial
Penny Inc
Free
What are Penny Inc pricing details?
Penny Inc Pricing Plans:
Free Trial
Penny Inc
Free
With Penny Inc, there are:
- No monthly subscription fees
- No transfer fees
- No transaction fees
- No annual fees
- No cancellation fees
The Penny Inc desktop application, cardholder mobile app, and your prepaid debit Mastercard’s are all free.
Some third-party fees may apply.
User Satisfaction
Positive Social Media Mentions
89
Negative Social Media Mentions
1
We are aware that when you choose to buy a Expense Management Software it’s important not only to learn how professionals score it in their reviews, but also to check if the actual clients and businesses that use this software are indeed happy with the service. That’s why we’ve devised our behavior-based Customer Satisfaction Algorithm™ that gathers customer reviews, comments and Penny Inc reviews across a broad range of social media sites. The information is then displayed in an easy to understand way showing how many clients had positive and negative experience with Penny Inc. With that information at hand you will be equipped to make an informed business choice that you won’t regret.
Video
Technical details
Devices Supported
- Windows
- iPhone/iPad
- Mac
- Web-based
Deployment
- Cloud Hosted
Language Support
- English
Pricing Model
- Free
Customer Types
- Small Business
- Medium Business
What Support Does This Vendor Offer?
- phone
- live support
- training
- tickets
What integrations are available for Penny Inc?
Penny Inc. integrates with the following business systems and applications:
- QuickBooks
- Sage
- Freshbooks
- Xero
- NetSuite
- Microsoft Dynamics
- Intacct
Penny Inc User Reviews
Penny Inc average rating:
4/5
Overall impression
4/5
Customer Support
3/5
Value for Money
3/5
Ease of Use
Write your own review of this product
ADD A REVIEWThe most favorable review
PROS: We\\\'ve managed a wide range of contractor payments via the VCC system Penny Inc have created. It lets our accounts team generate instant cards for new team members. We used to spend hours trying to chase receipts and had a couple of cases of theft/ fraud that would have been avoided if we had this system from the start.
CONS: Not aware of any.
The least favorable review
PROS: We have lost hundreds of dollars using Penny cards because the fund kept missing without being spent by the cardholders. The online system is a mess and wouldn't deliver the correct statement or balances. What's worse, you can not withdraw fund back to your bank account. No timely customer service or live support whatsoever; you never get a person over the phone. Emails to support are not responded. This is a serious warning to everyone who try to use their service. I consider this company as a fraud. DO NOT USE
CONS: We have lost hundreds of dollars using Penny cards because the fund kept missing without being spent by the cardholders. The online system is a mess and wouldn't deliver the correct statement or balances. What's worse, you can not withdraw fund back to your bank account. No timely customer service or live support whatsoever; you never get a person over the phone. Emails to support are not responded. This is a serious warning to everyone who try to use their service. I consider this company as a fraud.
More reviews from 3 actual users:
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- Latest
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Penny Virtual Credit card are very convenient for my business
Read full review >
5/5
Overall impression
4/5
Customer Support
3/5
Value for Money
4/5
Ease of Use
Published on: 07.09.2021
Company Size: 51-100 Employees
Industry: Business Supplies and Equipment
PROS: I had the opportunity to get Penny Virtual Credit card. They are very convenient for our business because we can now issue out cards without stressing on security with can preset limits. And no fee so even better. Thanks to Penny Inc. we love it
CONS: From my side there is issue. Anyone can try.
The Best Virtual Credit Card Mastercard we\’ve found
Read full review >
5/5
Overall impression
5/5
Customer Support
5/5
Value for Money
5/5
Ease of Use
Published on: 25.08.2021
Company Size: 1-10 Employees
Industry: Accounting
PROS: We\\\'ve managed a wide range of contractor payments via the VCC system Penny Inc have created. It lets our accounts team generate instant cards for new team members. We used to spend hours trying to chase receipts and had a couple of cases of theft/ fraud that would have been avoided if we had this system from the start.
CONS: Not aware of any.
Fraud Alert! Keep losing money using Penny cards
Read full review >
1/5
Overall impression
1/5
Customer Support
1/5
Value for Money
1/5
Ease of Use
Published on: 18.06.2021
Company Size: More than 100 Employees
Industry: Education Management
PROS: We have lost hundreds of dollars using Penny cards because the fund kept missing without being spent by the cardholders. The online system is a mess and wouldn't deliver the correct statement or balances. What's worse, you can not withdraw fund back to your bank account. No timely customer service or live support whatsoever; you never get a person over the phone. Emails to support are not responded. This is a serious warning to everyone who try to use their service. I consider this company as a fraud. DO NOT USE
CONS: We have lost hundreds of dollars using Penny cards because the fund kept missing without being spent by the cardholders. The online system is a mess and wouldn't deliver the correct statement or balances. What's worse, you can not withdraw fund back to your bank account. No timely customer service or live support whatsoever; you never get a person over the phone. Emails to support are not responded. This is a serious warning to everyone who try to use their service. I consider this company as a fraud.
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Penny Inc user reviews
Penny Virtual Credit card are very convenient for my business
Read full review >
5/5
Overall impression
4/5
Customer Support
3/5
Value for Money
4/5
Ease of Use
Published on: 07.09.2021
Company Size: 51-100 Employees
Industry: Business Supplies and Equipment
The Best Virtual Credit Card Mastercard we\’ve found
Read full review >
5/5
Overall impression
5/5
Customer Support
5/5
Value for Money
5/5
Ease of Use
Published on: 25.08.2021
Company Size: 1-10 Employees
Industry: Accounting
Fraud Alert! Keep losing money using Penny cards
Read full review >
1/5
Overall impression
1/5
Customer Support
1/5
Value for Money
1/5
Ease of Use
Published on: 18.06.2021
Company Size: More than 100 Employees
Industry: Education Management
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