Receipt Bank offer a branded Mastercard. You can use this to make purchases with any merchant who accepts Mastercard, to make withdrawals from cash machines, or to record your transactions directly to your Xero account.
The Receipt Bank Mastercard is provided through our partners Capital on Tap. Capital on Tap are responsible for all card operations, including the application, processing of cards and repayments. Contact them to apply for the Receipt Bank Mastercard, or to ask any questions which aren't covered in this FAQ.
Capital on Tap:
Phone: 020 8962 7401
Online web support and FAQs: https://www.capitalontap.com/en/faq
Xero integration Support articles: https://support.capitalontap.com/en/support/solutions/folders/26000056347
- Who is this card for?
The card is available for any business registered in the UK, where all business owners are UK residents. Limited companies and Limited Partnerships registered with Companies House and sole traders and partnerships can be eligible to receive the card.
The initial application for the card must be made by a director of the business. Consumers and individuals cannot apply. Due to possible risks of fraud, charities and trusts cannot apply.
- Do I need a Receipt Bank account to apply?
No, any business can apply for this card
- How much does it cost to sign-up?
There are no activation, monthly or yearly fees attached to your Capital on Tap account. You can choose to upgrade to a Premium account which offers 0.5% cashback on all card purchases. This is free for the first year, and then costs £79 for each year after.
Note: 0.5% cashback only applies to Credit accounts.
- Are there any other types of cards available?
Yes, both a credit card and a prepaid card are available. If you wish to apply for a prepaid put £1 as your desired credit limit. This will be the indicator for your pre-paid application.
- Where can I use my card?
You can use your card to make purchases at any merchant worldwide that accepts Mastercard. You can also use your card to make withdrawals from cash machines (subject to a maximum of £400 every 24 hours).
- Can I have multiple cards on my account?
As a Receipt Bank customer you can have an unlimited amount of cards.
Each card does not have it’s own credit limit: all cards are subject to the total credit limit on the account. For example; if you have £4000 credit limit and spend £500 on one card, there will only be £3500 available for use by the other cards.
Note: Additional cardholders can be added after the initial application has been completed by a director.
- What features does this card have?
Use your Capital on Tap portal to set limits on each of your cards, or to freeze/unfreeze individual cards. Read below to find out more about the Receipt Bank Mastercard / Xero integration.
- How can I link my card to Xero?
Log on to your Capital on Tap portal and follow these steps:
- Log into your online portal
- Go to the ‘Connections’ tab
- Click on ‘connect’ next to the Xero icon
- You will be redirected to login to your Xero account
- Select the business you wish to connect to
You will be redirected back to the ‘Connections’ page which will now show Xero as ‘Connected’
If connecting from your Xero account you can search for the Capital on Tap bank feed and set it up that way.
- How often will Capital on Tap post my transactions to Xero?
Once your connection is set up, Capital on Tap will post all of your completed financial activity in Xero every 6 hours. This will include all financial activity (i.e. bank withdrawals, ATM withdrawals, interest charges, card payments, chargebacks, refunds and reward redemptions).
- What are the costs for the Xero integration?
There are no charges for this integration. Please note the card holder needs to have an active account with Xero.
- Does Capital on Tap integrate with other General Ledgers?
No, at the moment Capital on Tap only integrates with Xero.
If you have a question that's not addressed in this FAQ or would like more details, please contact email@example.com