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16 April 2009
Butterfield Launches Business Debit Card

Butterfield today announced the launch of Bermuda’s first business debit card – the Butterfield Business Debit MasterCard®.


The Butterfield Business Debit MasterCard offers a range of benefits and services designed to meet the specific needs of local businesses. This unique Business Debit card helps businesses keep track of revenue streams and obtain authorisation for immediate shipment of any mail, phone, or Internet orders.  The card also gives you access to cash while providing increased daily limits for merchant purchases.


The Butterfield Business Debit MasterCard is available as an addition to Butterfield’s current suite of offerings for business clientele.  Managed by Taiwo Ogunyemi, Vice President, and Lucy Mello, Assistant Vice President, the Business Banking team works closely with their customers to help them achieve their business objectives, whether it’s start-up capital for a new venture or additional funding for ongoing business development.  Business Banking handles requests for loans, mortgages, overdraft facilities, credit cards and other lending options to help businesses meet their financial needs. 


Mr. Taiwo Ogunyemi, Vice President and Head of Business Banking said, “The Butterfield Business Debit MasterCard fills a need among local business owners who want the convenience of using a card for purchases, but who do not want to incur the fees and interest charges that can be associated with business credit cards.  The features of the Business Debit card are designed specifically to help business owners keep track of spending and help them manage cash flows.”


In addition, business owners can request extra cards with pre-set spending limits for employees. This helps keep business transactions under control and helps prevent unauthorised spending. There is no annual fee, and the Business Debit MasterCard is accepted at over 24 million merchants and over one million ATMs worldwide.


Delight Morris, Assistant Vice President and Manager of Cash Management Products said, “The Butterfield Business Debit Card provides an attractive and convenient option for our business customers to make payments electronically and track their expenditures.  This is a further demonstration of our commitment to offer our customers new, value-added products and services at a low cost.”


For more information on how Butterfield can help meet the needs of local businesses, or learn more about the Business Debit MasterCard and the full suite of Butterfield products, readers should contact Butterfield on (441) 295 1111.




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