Corporate Card (Charge Card) — First BanCorp

The First BanCorp Corporate Card (Charge Card) is a premium payment solution designed for modern organizations that require rigorous control, streamlined expense processing, and flexible credit terms. Built to support businesses of all sizes — from dynamic startups to established enterprises — this card empowers finance teams, managers, and employees to transact efficiently while keeping company spending transparent and secure.

Key Benefits

• Centralized expense management: Aggregate spending onto one charge account, simplify reconciliation, and reduce administrative overhead through consolidated monthly statements.
• Enhanced control and policy enforcement: Configure spending limits, merchant categories, and approval workflows to ensure purchases comply with corporate policies.
• Improved cash flow visibility: Access detailed transaction reporting to monitor cash commitments and project-level spending in near real time.
• Corporate-level credit terms: Benefit from a revolving charge facility tailored to your organization’s cash cycle, with transparent billing and predictable payment terms.
• Security and fraud protection: Advanced security features and proactive monitoring protect your corporate funds and reduce exposure to unauthorized transactions.

Who Should Use This Card

The Corporate Card (Charge Card) is ideal for organizations that need centralized purchasing with strict oversight. It is particularly valuable for:

• Finance teams seeking consolidated billing and simplified reconciliation.
• Procurement departments managing vendor relationships and bulk purchases.
• Sales and operations teams that require authorized travel and client entertainment budgets.
• Legal and professional services that manage project-based expenses across multiple clients.
• Companies that prefer a charge model to traditional corporate credit cards for tighter control over payment timing.

Core Features

First BanCorp equips the Corporate Card with a robust set of features that balance convenience with compliance:

• Single monthly statement: Consolidated billing makes accounting straightforward and reduces time spent on manual reconciliation.
• Customizable user limits: Assign spending thresholds per employee, department, or project to align with internal policies.
• Virtual and physical cards: Issue physical cards for on-site purchases and virtual card numbers for secure online or subscription-based payments.
• Detailed transaction data: Receive itemized transaction descriptors and merchant codes to accelerate expense coding and auditing.
• Integration-ready reporting: Export transaction data in multiple formats for seamless integration with accounting and ERP systems.
• Admin portal and mobile access: Centralized dashboards allow administrators to manage cards, review activity, and approve exceptions from desktop or mobile devices.

Security and Compliance

Security is embedded across the Corporate Card lifecycle. First BanCorp leverages industry-leading fraud detection systems, tokenization for virtual card numbers, and optional two-factor authentication for sensitive approvals. Administrative controls and audit trails support regulatory compliance and internal governance, making it easier for organizations to meet external reporting requirements and internal audit standards.

Expense Control and Policy Tools

The Corporate Card includes policy tools designed to prevent misuse and simplify oversight:

• Merchant category restrictions: Block or limit purchases in specific merchant types to enforce intended use.
• Pre-authorization and approvals: Route transactions above predefined thresholds for manager or finance approval before settlement.
• Real-time alerts: Notify cardholders and administrators of unusual activity or policy breaches via email or mobile push.
• Spend analytics: Visualize spend trends by department, project, merchant, or employee to identify savings opportunities and budget variances.

Implementation and Support

First BanCorp provides a dedicated onboarding process to configure the Corporate Card for your organization’s structure and controls. Implementation includes policy setup, card issuance, integration assistance with accounting systems, and administrator training. Ongoing support is available through expert relationship managers and a responsive client service team to address queries, escalate issues, and recommend optimizations to your card program.

Why Choose First BanCorp Corporate Card

Choosing the First BanCorp Corporate Card means partnering with an institution committed to client-centric service and practical payment innovation. The product is tailored to reduce administrative burden, tighten financial controls, and deliver actionable insights into corporate spending — enabling better decisions and freeing teams to focus on strategic priorities rather than routine expense management.

Getting Started

Establishing a Corporate Card program with First BanCorp is straightforward. The onboarding process is designed to accommodate your company’s operational needs, whether you require a simple charge facility or a sophisticated expense governance model with full reporting integration. The program scales with your business and supports progressive enhancements as your needs evolve.

With the First BanCorp Corporate Card, organizations gain a dependable, secure, and controllable way to manage business spending — combining centralized billing, flexible controls, and robust reporting to streamline operations and strengthen financial oversight.

Address Bank: San Juan, Puerto Rico
Bank: First BanCorp
Headquarters: San Juan, Puerto Rico
Products: Cards
Type: Corporate Card (Charge Card)