Prepaid Accounts

Prepaid accounts operate in the same way as a standard UK bank account, allowing you to do the following:

• Withdraw cash from an ATM
• Make regular payments
• Pay vendors
• Receive regular statements

Note: Prepaid card accounts do not have an accessible overdraft facility

Commercial Procurement Cards

Commercial procurement cards operate in a similar way to a credit card. They provide contracting authorities with an electronic method to purchase goods or services.

Prepaid Accounts

For contracting authorities:

• Reduced costs and risks compared to traditional cash disbursement methods with full audit capabilities.
• Streamlined operations and resources – less staff resources needed to make payments and monitor data with no major IT upgrade required to make the change.
• Cards can be issued quickly without onerous paperwork.
• Improved customer service – NEPO’s suppliers will proactively advise contracting authorities on how to receive funds quicker via automated transfers and gain better control over how funds are spent.

For cardholders:

• Greater convenience and choice, with access to Mastercard/Visa networks.
• Chip and pin/contactless functionality providing a safer alternative to carrying cash.
• Ability to make online transactions and manage bill payments independently.

Commerical Procurement Cards

• Commercial procurement card payments facilitate multiple transactions using contactless, online and phone, and offer a faster and more effective payment mechanism than traditional methods.
• Cards can be embedded centrally with the contracting authorities’ frequent suppliers to allow for payment automation.
• The cards eliminate purchase order/invoice processing and automated reconciliation, and reporting reduces cost and error whilst freeing up resources.
• Robust framework terms and conditions which have been agreed and verified by external legal experts in the Financial Services sector.

Fully compliant

All frameworks are compliant with UK procurement regulations, making the process stress-free and efficient, ensuring you have peace of mind.

Trusted suppliers

Customer satisfaction, finances, social values and much more are checked prior to awarding service providers a position on our frameworks.