How prepaid debit cards can simplify business spending

Debit cards will revolutionise the way you manage business spend and give you and your employees peace of mind.

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Traditional methods of managing business spending come with considerable downsides. If employees are paying with their own money and getting reimbursed later, you’ll have heaps of expense claims to sort through and your staff could be left out of pocket.

Alternatively, if you’re using business credit or debit cards, spending can easily spiral as a lack of versatility and visibility makes these cards unfit for purpose.

Prepaid debit cards are a more secure and simple way of managing your expenses. And although they aren’t debit cards in a technical sense because they’re not directly connected to a bank account, they act in a very similar way.

Unlike other payment options, prepaid debit cards offer total visibility and control when it comes to spending, making it impossible to go over budget.

Assign cards and set limits

Imagine being able to know how much your business expenses are going to cost during the course of a month before a penny has been spent. That’s exactly what prepaid debit cards let you do.

Once you’ve created an account, you can issue cards to employees, teams, or departments, and then set up bespoke rules and limits for each card. This can be a rolling budget or simply a fixed amount.

It’s not just budgets either, you can disable certain spend categories on your cards or make it so they can only be used in certain locations. It’s completely up to you.

And because budgets and categories have been preloaded onto the cards, employees can spend without going through an approvals process, whilst you’re safe in the knowledge that no-one will overspend.

Then, with the Soldo web console or mobile app, you can see every transaction as it happens, so you always know where the money is.

Perfect processes

Soldo’s prepaid debit cards can speed up multiple processes within your company. For example, transferring additional funds is easy, as you can top up any card from the Soldo console. This means if your employees have maxed out their budget but there’s another necessary expense coming up, you can send the money remotely.

On top of this, Soldo automates the expense reporting process. Rather than spending hours manually inputting data into spreadsheets, reconciliation is made easy with reports that are automatically generated when employees upload photos of their receipts to Soldo.

And when it’s time for bookkeeping, all your spend data is easily exported with accounting software integrations. We support direct transfers to QuickBooks, Xero, and NetSuite, but it’s no problem if you use any other software as you can easily download your data.

Secure spending with prepaid cards

Lost or stolen cards can often lead to messy cancellation processes and slow reimbursements. But with Soldo, you can turn cards off in a click from the mobile app or desktop console.

On top of this, Soldo puts a stop to overspending. You establish budgets and rules for every card, and there’s no connection to the business bank account, so it’s impossible for employees to breach those limits.

And our cards don’t even need to be physical; you can issue virtual cards and eliminate the possibility of loss or theft. These digital cards can even be one-use, so they expire after a single purchase.

Whether it’s physical or virtual, a prepaid card will bring you peace of mind.

Freedom for employees

Traditional payment methods like petty cash, reimbursements, and business credit cards aren’t fit for purpose. Cash is insecure and isn’t accepted everywhere these days. A reimbursement system can leave your team out of pocket. Credit cards are inflexible and prone to overspending.

Overall, these methods suffer from slow data processing, lack of accessibility, and insufficient security.

Prepaid cards, however, give your team the freedom to make spending decisions without going over budget. Because you’ve already established limits, employees know they can pay for expenses without waiting for approvals.

Keep costs low

Small expenses have a habit of building up, and they can take a real chunk out of your profits. By using Soldo’s cards and expense management software, you can decide how much will be spent in a certain period before any purchases have been made.

And with granular spend analysis, you can see where any problem areas are, and make data-led spending decisions that help keep your financial plan on track.

The first step to cutting outgoings is to know how much you’re spending, and this is where Soldo can help your business.

And there’s no need for tedious manual data entry either, as Soldo offers automated expense reporting. Employees just need to snap a photo of their receipt at the point of purchase. It’s as easy as that.

Streamline spending with Soldo

Whilst solid expense policies and careful bookkeeping are useful for managing expenses, a technological partner like Soldo can make things infinitely easier.

Ultimately, Soldo’s prepaid cards are designed with businesses in mind. We know what the hurdles are with traditional payment methods, and our system is made to overcome them.

Our prepaid system offers control for you, autonomy for employees, and complete financial visibility. Even better, our accounts software integrations mean you can make quick work of reconciliation when the time comes.

Switch to smarter spending by choosing a Soldo plan that’s right for you.

Make light work of spend management with prepaid cards

Soldo’s smart prepaid system allows you to stay in control whilst offering freedom to employees

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Track spending from anywhere

With the Soldo dashboard you can see every transaction as it happens

Limitless cards

Order as many cards as you need and assign them to individuals, teams, or whole departments

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Money management

Always know where the cash is and, more importantly, know where it’s going before it’s been spent

All Soldo plans include

Soldo Mastercard® cards

Get as many cards as you need for employees and departments. Our contactless cards are accepted by millions of merchants worldwide.

Web-Konsole und mobile App

Web console and mobile app

See spending in real time on the web console. View balances, capture receipts and manage cards on the employee app.

Accounting integration

Export transaction data to every major accounting software, in two clicks. Connect expenses to Xero and QuickBooks.

Kostenlose und unbegrenzte Transaktionen

Free & unlimited transactions

Soldo Mastercard® cards have no fees for domestic transactions and our foreign exchange fee is fixed at just 1%.

No charge for deposits

It’s free to add funds, and money is available to spend instantly. Allocate funds to cards when your team needs it.

Individuelle Unterstützung

Dedicated support

Need a hand? Our friendly customer success team is at your service, providing support whenever you need it.

“Since we started using Soldo, it’s been such a relief not to have to regularly email or phone the banks to ask for our credit card limits to be raised. I love Soldo’s flexibility – it’s so easy to maintain and everything is in real-time.”

Dennis Koehler
Head of Payments and Fraud at GetYourGuide

“We’re a caring company and always look after each other. With Soldo, I know I’ve always got my drivers’ backs and the best bit is that I don’t need to do loads of work (or miss out on VAT claims) at the end of the month.”

Karen Green
Operations Manager at Titans Group

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