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
Since companies have special business-related needs, it is reasonable they steer clear of subscribing to an all-encompassing, ”best” software. Having said that, it is hard to pinpoint such application even among branded software solutions. The practicable thing to do would be to list the different significant aspects which require deliberation like essential features, price terms, technical skill capability of staff, business size, etc. Next, you must conduct your product research exhaustively. Read some Penny Inc evaluations and scrutinize each of the applications in your shortlist more closely. Such well-rounded product research guarantee you keep away from mismatched apps and subscribe to the system that has all the function your business requires for success.
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 solution can be perfect in such a situation. It is pointless to try to find an ideal off-the-shelf software system that meets all your business needs. The wise thing to do would be to modify the application for your special requirements, worker skill levels, finances, and other factors. For these reasons, do not rush and invest in well-publicized leading solutions. Though these may be widely used, they may not be the perfect fit for your specific requirements. Do your research, investigate each short-listed application in detail, read a few Penny Inc Expense Management Software reviews, speak to the maker for explanations, and finally select the application that presents what you want.
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 know that when you make a decision to purchase a Expense Management Software it’s crucial not only to learn how experts rank it in their reviews, but also to find out whether the real clients and companies that purchased this software are actually content with the product. That’s why we’ve devised our behavior-based Customer Satisfaction Algorithm™ that gathers customer reviews, comments and Penny Inc reviews across a wide array of social media sites. The data is then presented in a simple to understand format indicating how many customers had positive and negative experience with Penny Inc. With that information at your disposal you should be prepared to make an informed purchasing decision 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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