How do you top up a prepaid credit card?
The precise process to add money to a prepaid credit card depends on your provider. With Soldo, you make a bank transfer to add funds to your Company Wallet. Then, you can send that money to any individual account via our web payment console. You can make top-ups at any time, and the payment will process instantly. Learn more about prepaid cards here.
Can you top up a prepaid card with a credit card?
The short answer is no. You’re given the details necessary to transfer money by IBAN (for GBP, EUR, or USD), or by Faster Payment (for GBP only), so you can make a deposit to your company wallet in your Soldo account.
Once the transfer has gone through, you’ll be able to transfer money from the company wallet down to the cards themselves.
How to buy a prepaid credit card
You can buy prepaid cards for your business from a provider such as Soldo. All you need to do to get started is pick a plan, fill out a few details and decide how many cards you need. Then once we’ve approved your application, we’ll send you cards to top up with funds.
Is a prepaid Mastercard a credit card?
No. Prepaid cards are different from credit cards. Technically, the term ‘prepaid credit card’ is incorrect, since prepaid cards don’t require credit checks or offer any kind of credit facility. In order to use a prepaid card, you need to load money onto it in advance, and you can spend only the amount you have on it.
When you use a prepaid card, you’re spending your own money, not a bank’s. You can use prepaid cards to make payments, online or in-shop, on things such as travel, fuel, groceries, and office supplies. You can also withdraw money from cash machines as you would with a debit or credit card.
And because prepaid cards aren’t linked to your bank account, you’re less vulnerable to hacking, and it’s far safer than carrying around cash. If stolen, you can simply freeze your cards, and your assets are protected.
Is Soldo a business bank account?
No. Soldo provides additional spend management features that work alongside your business bank account, instead of replacing it. You can use your Soldo cards to separate staff spending from your main company funds, as well as accessing powerful new features that aren’t available with any banking provider.
