Cape (Cape PTY LTD, an Austrac registered entity) is a new expense management platform issuing smart business charge cards that provide SMEs with full visibility and control over their cash flow to cut wasteful spending and the time taken on financial administration work. At Cape, our customers get pre-approved for a credit facility ahead of usage, which allows businesses to provide their teams with the funds they require to do their job, whilst also simplifying expense reporting. We’re setting out to identify and remove the frustrations between banking and accounting.
Cape was founded in September 2020 by Fintech veteran Ryan Edwards-Pritchard, with the mission to help businesses achieve ‘Complete Expense Nirvana’ so that they can strengthen their cash flow by stopping wasteful spending ever occurring and automate the time taken on unnecessary manual financial administration work.
Work can be hard. Paying for things at work shouldn’t be.
We’re the smart way to pay for stuff. With no reimbursements. No paperwork. No faff.
With Cape, we’ve been able to start from a fresh sheet of paper, with this vision that if we can help finance teams provide all employees with access to company money without jeopardising the capacity of the business to control the cost and the time associated to manage that process.
Right now the core differentiators to other platforms are our incredible FX rate, ensuring you can save in some cases over 5% versus alternative incumbent banks and fintechs. In addition, it’s hard to find a business overdraft, business credit card, revolving credit facility or business charge card without the punitive APR, monthly membership or annual fees.
Get in touch with our team and we’ll give you a hand. Give us a call on 1300 062 273 or check out our Contact page for details.
No. Nope. Negative.
We only underwrite the business, this may include getting the directorship information such as other directorships, previous bankruptcies and director credit scores.
For complex entity structures we may need to take a Parent Company Guarantee, but we would never ask for a director to guarantee a business loan for a limited company.
We would never ask an employee to guarantee a business loan, that doesn't make sense (looking at you traditional banking industry).
An employee using a Cape card has no personal liability and as such there is no credit check on the individual and no reflection on their personal credit report.
Due to KYC (Know Your Customer) requirements we need to identify any users that come on to the platform along with the directors, so an employee will be asked to upload a photo ID (generally a drivers licence) when creating their login.
Yes, it is a credit agreement.
But you can also repay the credit at any time. So if you need board approval up to a certain limit, we can set you up under that limit in the interim while you get the sign off from the board for the full facility.
It’s possible that the email has ended up in your junk folder. Either way, the quickest thing to do is give us a call so we can get things sorted for you!
To get started you need to click on the email then the following will happen:
• You’ll be asked to accept the limit and agree to the Terms and Conditions as well as the Facility Offer which details out your credit limit
• Once accepted you’ll be able to set-up your login details
• After that you’ll be able to login:
> Immediately after you login you’ll be asked to set up a bank account and a Direct Debit Mandate so we can take care of your monthly repayments for you
> And lastly, once thats all set-up you’ll be able to order your first card
Please give us a call on 1300 062 273
The credit limits we provide are aimed to support your cash flow whilst ensuring we inform our decision based upon risk and credit assessments we’re optimising. As we’re just launching our BETA we’ve started pragmatically which may mean the limits are not exactly what you’re after. As we continue to build out our platform and automated learning approach, we will continually evaluate limits and align them to your needs and funding capabilities.
Single Sign on is commonly used as an alternative by users as they find it easier to keep their password centralised. This allows clients to have a seamless journey when logging on without compromising on security.
If you don’t use Google or simply prefer not to use it, we offer the ability to set up a password directly with us for login.
In our BETA clients can skip the Direct Debit Mandate as the start of login, however it is your responsibility to always have a Mandate set up on the account to ensure we can collect funds on your behalf. Our systems monitor Direct Debit Mandate status to ensure a smooth experience for all, and where they detect a mandate is not in place we’ll be in touch to help you set one up.
A direct debit mandate is an authorisation by your company for Cape to take account repayments at the end of your statement period. This helps us to ensure a smooth onboarding experience and balance settlement process so that you and your employees always have access to funds to successfully make payments.
It usually takes between 5 to 7 working days for your personalised Cape card to arrive in the post. We have seen slightly quicker and longer turnaround times, so we’ll continue to refine this to make it as clear for you as possible.
If you are concerned that your card hasn’t arrived, please let us know and we can follow this up for you.
Activating your card is simple. When you login to Cape’s platform an activate card button is shown directly beneath the image of your card. Simply:
• Select the activate card button
• Have your card to hand
• Enter the 9 digit token on the back of your card
• Select continue and your card will be activated within a few seconds
You can get your PIN at any time through the My cards navigation within the Cape Platform. After visiting the page, choose PIN reminder from the options. You’ll need to enter your 9 digit token on the back of your card (even if you’ve just used it for your PIN) and then click ‘Continue’ to reveal your PIN.
It’s important not to write it down and to keep your PIN safe.
Unfortunately there is no way to personalise your PIN right now, but we’re working on it!
Your transactions are shown both on the Dashboard and on the transactions screen.
Here you can see:
• The merchant name.
• The card ending (in case you have a replacement card, and in future to see your Team’s spend).
• The Status or type, so you can differentiate between a pending transactions and an approved one, as well as a decline.
• We’ll also show you the amount of the transactions and keep a running balance for you.
• If your spend is in a foreign currency, simply select the transaction to reveal the foreign exchange rate as well as the value of the transaction in the foreign currency.
You can export your transactions to a csv file in order to upload them into your preferred accounting programme. We’ve got some tips to help with the best way to do this, so contact our support team to walk you through this when you’re ready. We’re currently working on our accounting integrations and hope to have that launched soon.
Lost your card? You may want to Freeze it to check if it’s still in your bag or pocket from last week’s trip. Just head to my cards in Cape’s platform and select the Freeze Card option. And once you’ve found it, you can unfreeze it in the same way in seconds.
Due to our compliance requirements (Know your customer (KYC)), updates can be made to only a few details on your account.
Check out your profile page via the button, and if you need to edit something which isn’t unavailable online then just give us a call, we’ll help you get that done.
All statements will be provided in the notifications centre within your account. Cape charge cards are due to be repaid in full the day after the statement end date, so you can keep track of your spending throughout the month and running balance outstanding on the Dashboard and Transaction pages.
You'll first need to make a one-off repayment to pay down your balance. This can be easily done via the 'Make a Repayment' button found on the dashboard. Note: payments take 3 days to reach us, so make sure you do this as soon as possible if you’re running out of available funds. If you’re stuck, give us a call!
You can find your statement closing date on the Dashboard. Your repayment date is the day after your statement closing date. As long as you have an active Direct Debit mandate set up, we’ll take the money from your bank account the next business day after your statement closing date. Don’t worry, we’ll send you a repayment reminder notification before the repayment is made.
This takes between 2 to 3 days (with day 1 being the day after the repayment was taken from your account). It varies depending on how early the money is taken from your account to meet our partners cut-off timings.
You can find your credit limit on the Dashboard within the Cape Platform.
Cape is a charge card. Charge cards are intended to help manage cash flow as they allow the user to spend all month and repay the balance in full each month so they’re not getting into debt.
From a spending/using the card perspective, there is no difference between a charge and a credit card. However a charge card needs to be re-repaid in full at the end of the statement period. A credit card allows a balance to be carried forward and will charge interest if a partial repayment has been made.
Cape issues Mastercard branded cards. Mastercard is accepted at most terminals that accept card payment around the world.
Yes, Cape cards can be used online and over the phone as well as in store.
Currently the limit is set at $200. This limit was set during the pandemic to reduce physical contact with terminals. Contactless limits can be changed without prior warning.
Although there are other limits on your account, none of these should impact you and are in place for your security. If you experience any issues using your card, please contact us and we’ll ensure we resolve the matter.
Rest assured you’re money is safe and you have the following options available:
- Use your Cape card as you would normally. The credit will be applied against future expenses, eventually, you're no longer in credit balance territory.
- Ask for a refund, contact us at email@example.com and we’ll organise the refund payment.
Yes. We’re constantly improving our security to reflect the ever changing security landscape. We’ll continue to prioritise you and your data.
Cape cards use Mastercard chip technology, which has a microchip embedded in the card that provides increased protection against fraud using proven technology that is already in use around the world. We also have automated monitoring complimented by human interaction to mitigate and manage possible fraud.
You should always be cautious when contacted by someone claiming to be from Cape. If you have any concerns you should hand up and contact Cape using the number in the back of your card or via our website, www.getcape.io.
Phishing and other threats remain high, so please be vigilant.
You can report this yourself in the Cape platform or simply give us a call and we’ll review your account as well as order you a new card.
Please give us a call if you need help unblocking your PIN.
Please contact us immediately if you identify a transaction that doesn’t belong to you. It may be a case of mistaken identity, but better safe than sorry. We’re working with a partner to change the way we present merchant data to you, to help simplify the merchant names and make it easier for you to understand who the payment was made to.
We recommend trying to resolve the issue directly with the vendor or merchant first.
If you have been unable to resolve the issue directly with the vendor/merchant, you can dispute the transaction by contacting us at firstname.lastname@example.org with the transaction details. We will act on your behalf and conduct the chargeback.
We aim to provide the very best service for our customers. But sometimes things can go wrong. In the event that you are unhappy regarding any part of our service, our dispute and complaints process provides that your complaint will be handled efficiently, honestly and fairly. If you are unsatisfied with any product or service provided by Cape, please contact us via:
Phone: 1300 062 273
Mail: PO Box 775, Manly, NSW 1655
The complaint need not be in writing and may be presented by any reasonable means, for example letter, telephone, email or in person. Please ensure you give us full particulars of your complaint.
If a complainant is not satisfied with the response to their complaint, they may contact the Australian Financial Complaints Authority (AFCA) (of which we are members) on:
Phone: 1800 931 678
Mail: GPO Box 3, Melbourne City, VIC 3001
The AFCA is a free service established to provide you with an independent mechanism to resolve specific complaints about your financial service provider.
Please give us a call so that we can sort that for you.