Do More With Your Online Business Banking

You can use Soldo to enhance your existing online bank account with new functionality, more control and better visibility.

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Supercharge your online business bank account

Soldo works alongside your company account to give you much more control and oversight over day-to-day spending. Using Soldo’s prepaid cards, integrated apps and web payments console, you can manage expenses with ease.

Easy application
You can apply online, and get started the same day.

Silo staff spending
With Soldo prepaid cards, employees get their own separate spending accounts – that you control.

Simplify expenses
Online bank accounts can reduce admin in lots of ways, but expense management is still an arduous process. With Soldo, it’s entirely automated.

With online business banking, you’re able to:

  • Digitally pay invoices and accept payments
  • Easily keep company costs separate from personal ones
  • Identify deductible expenses and file taxes more easily

You can also order business credit cards or debit cards and allocate them to members of staff or individual departments. This does mean, however, that they’ll have direct access to your bank account – so you’ll need to think carefully before you decide who you want to share cards with.

While a useful upgrade from traditional business banking, online bank accounts do come with significant limitations. You won’t be able to review transactions in real time, for example, or identify which card was used to make a payment. And your employees will need to hang onto their receipts so you can reconcile their expenses at the end of the month.

Prepaid company cards solve all these issues. You can give employees the flexibility to buy what they need, without risking your primary funds. And unlike credit and debit cards, they’re linked to a separate expense account, which means the cardholders only have access to as much money as you give them.

You’ll get complete visibility over who’s spending what, and the entire expense process is fully automated.

Basic questions about online business bank accounts.

What is online business banking?

Online business banking is a type of company account that you manage via the internet. Online banking providers offer many of the same services as traditional company banking, but with no branches. You can track transactions and make payments using your web browser or a mobile business banking app instead.

This brings several benefits over traditional providers – including increased transparency and flexibility. But online business accounts still come with some notable limitations, which is why more and more companies are using prepaid providers such as Soldo to enhance their functionality.

Which online business bank account is the best?

When trying to find the best online business banking account for your needs, you’ll want to pay attention to which fees and charges you might have to pay, which perks you can get and whether there’s a free introductory period. Most providers offer similar functionality.

Soldo brings extra functionality to your online business bank account that enables you to do more: including real-time tracking, automated expenses and siloed spending.

Is Soldo an online business bank account?

Soldo provides online expense accounts that sit alongside your business bank account, instead of replacing it. You can use your Soldo cards to silo staff spending from your main company funds, as well as accessing powerful new features that aren’t available with any banking provider.

Who can apply for an online business bank account?

Any company can apply for an online business bank account. You’ll probably need to provide documents such as ID and proof of address for every company director, your Companies House number and possibly proof of your financial situation. If your account includes a credit facility then you may have to pass a credit check.

How do I switch online business bank accounts?

You’ll need to apply with a new provider and let them know that you’re moving from an existing business account. Your new and old providers should then communicate and let you choose your switchover date.

If you’re moving because you’re frustrated with your current provider, then you may want to consider enhancing your account with Soldo instead. Learn more about how we can help improve your business banking.

Supercharge your business bank account

Control spend on prepaid cards

Empower employees to spend; set budgets and track spending in real time, from anywhere.

Automate all expense admin

Send transactions, receipts, and other data to accounting software through smart integrations.

Capture receipts and VAT fast

Prompt employees to photograph receipts, add VAT and categories on the Soldo mobile app.

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