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Penny Inc Review

Penny Inc
Our score: 8.0 User satisfaction: 99%

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.

Overview 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 businesses have distinct business-related needs, it is only reasonable they abstain from paying for an all-in-one, “perfect” software system. Still, it would be futile to find such an app even among branded software products. The clever step to undertake would be to narrow down the several main factors which merit research including major features, budget, technical skill aptitude of staff, organizational size, etc. Next, you should do the product research systematically. Have a look at some of these Penny Inc evaluations and check out the other software programs in your list more closely. Such comprehensive research ensures you weed out unsuitable apps and subscribe to the one that delivers all the function you require business requires for optimal results.

Position of Penny Inc in our main categories:

TOP 200

Penny Inc is one of the top 200 Accounting Software products

Penny Inc is also listed in the following subcategories:

It's important to note that hardly any service in the Expenses Management Software category is a perfect solution able to match all the needs of various company types, sizes and industries. It may be a good idea to read a few Penny Inc Expenses Management Software reviews first as certain software may dominate just in a very narrow set of applications or be created with a really specific industry in mind. Others might operate with an idea of being simple and intuitive and consequently lack advanced features needed by more experienced users. You can also come across software that focus on a large group of users and give you a rich feature base, but that frequently comes at a more expensive cost of such a software. Make sure you're aware of your needs so that you purchase a software that offers exactly the elements you look for.

How Much Does Penny Inc Cost?

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 realize that when you make a decision to buy Expenses Management Software it’s important not only to see how experts evaluate it in their reviews, but also to find out if the real people and companies that buy it are actually satisfied with the product. That’s why we’ve created our behavior-based Customer Satisfaction Algorithm™ that gathers customer reviews, comments and Penny Inc reviews across a wide range of social media sites. The data is then presented in an easy to digest form showing how many people had positive and negative experience with Penny Inc. With that information at hand you should be equipped to make an informed buying 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?

  • email
  • phone
  • live support
  • training
  • tickets

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Penny Inc Comparisons

Penny Inc user reviews

Fraud Alert! Keep losing money using Penny cards

Read full review >
Tina Zhang
1/5

Overall impression

1/5

Customer Support

1/5

Value for Money

1/5

Ease of Use

Published on: 26.03.2019 Company Size: More than 100 Employees Industry: Education Management

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.

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 average rating:

Average score
1/5 (1 user reviews)
1/5

Overall impression

1/5

Customer Support

1/5

Value for Money

1/5

Ease of Use

Write your own review of this product

ADD A REVIEW

The most favorable review

Tina Zhang

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.

Reviewed 11 months ago

Read full review >

The least favorable review

Tina Zhang

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.

Reviewed 11 months ago

Read full review >

More reviews from 1 actual users:

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Fraud Alert! Keep losing money using Penny cards

Read full review >
Tina Zhang
1/5

Overall impression

1/5

Customer Support

1/5

Value for Money

1/5

Ease of Use

Published on: 26.03.2019 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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Reviewed By Louie Andre
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