Soldo is better than a company credit card

Company credit cards are old news. Find out how Soldo will make managing your expenses easy.

  • Never have to share card details again.
  • Granular budget control with individual spending limits on each prepaid card.
  • Simplified month end reconciliation with digitised expense reports linked to each card.
  • Seamless integration with Xero, Sage and Quickbooks.

Start for free

Soldo company cards are trusted by more than 30,000 leading companies.

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Company credit cards are status quo, but they don’t have to be

If you’re using company credit cards to manage employee spending, the following problems might sound familiar:

  • Someone (not sure who) has spent £1000 on the director’s company card and it’s not the director.
  • Your purchasing team couldn’t get the inventory order through because there was no one available to approve the purchase on the company credit card.
  • Your finance team just sent a company-wide email asking for the VAT receipt for {insert random company expense} to be sent to them by 5 pm today because they need to finish reconciling transactions on the card

It’s an unavoidable reality of doing business, isn’t it? Not with Soldo.

Soldo is a prepaid card and expense management platform designed to optimise your cash flow. As you know, time is money, and Soldo will save you both.

Learn More: How prepaid cards work | What is a prepaid credit card?

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payment receipt in GBP captured using Soldo's mobile expense management app
payment receipt in GBP captured using Soldo's mobile expense management app
prepaid card set up with rules and spend limits for employees

Company credit cards pose unnecessary risks

Company credit cards have long reigned supreme when it comes to a company’s expense management, but they come with risks businesses often assume are unavoidable.

Spending can easily spiral, as finance teams don’t even see what’s being spent by who until statements come through at the end of the month.

The lack of customisable expense management software tools that plague many business credit card systems means it can be difficult to stay within set budgets, even if you can keep track of expenditure in the first place.

With prepaid cards, this isn’t a problem. Because these cards are pre-loaded with a certain amount, there’s no way for employees to go over budget. The cards act as a fund, and because there’s no connection to a bank account or a line of credit, you aren’t exposed to the risks associated with giving out multiple cards to your employees.

Find out: How 30,000 businesses manage their expenses

prepaid card set up with rules and spend limits for employees

Company credit card approval chains

To counter the security issues associated with company credit cards, businesses often limit spending privileges to directors or senior management. Fraud and the risk of theft are reduced since there are only a few people accountable for the cards.

Although these safeguards make for secure spending, they certainly don’t speed up the process. In fact, they can make managing employee expenses inefficient:

  • Employees have to seek approval from the designated manager to use the card.
  • Then, either borrow the business card or complete the purchase with a personal credit card which adds a reimbursement task to the process.
  • After that, each employee who has used the card needs to retain and correctly store the receipts for account reconciliation.

With company credit cards, a simple purchase can produce a lot of painful processes.

Using soldo prepaid cards. observe team spend management from Soldo expense management software
Using soldo prepaid cards. observe team spend management from Soldo expense management software
Soldo prepaid card and expense management system with mobile and desktop software

The logistical nightmare of sharing company cards

Ultimately, there are two systems you could end up using when it comes to company credit cards.

The first involves a select few members of management approving every single purchase, leading to extremely slow expense processing.

The second, multiple employees sharing one or two cards. Leading to a logistical challenge as finance teams try to reconcile the spending puzzle of who spent what. Learn more about employee expense reporting.

Card sharing also poses a security risk as details are re-shared over the internet between teams. A risk more likely now with remote working and cyber security vulnerabilities.

Finally, using a company credit card to manage your expenses requires a successful credit check, which isn’t always straightforward, especially if you run a start-up or small business.

Mobile transactions homepage from Soldo prepaid system

Upgrade to the solution that’s better than a company credit card

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Prepaid Company Cards

Give all staff smart company cards with built-in budgets and rules.

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Employee Expenses App

Capture receipts, VAT, expense categories and more on the spot.

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Management Platform

Control costs and delegate payments; track all spending as it happens.

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Accounting Integrations

Export accurate data to any accounting system in a couple of clicks.

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Soldo isn’t just easier to set up; it’s a complete spending solution that allows you to track and manage every aspect of your company’s finances.

Simplify expenses with a comprehensive platform

Get control back with secure spending

This level of control isn’t just good for logistics, it’s good for security, too. As you decide the spending limits of each prepaid card, you always know exactly how much is being spent. This is much more secure than company credit cards, which tend to be far more rigid and difficult to track.

With Soldo’s prepaid business cards, you’ll never have to share card details. Every employee or team can have their own dedicated payment card with its own separate fund. And if a card ever gets misplaced or stolen, you can turn it off remotely in just a click.

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soldo prepaid card system, card and mobile app
soldo prepaid card system, card and mobile app
Soldo prepaid card and expense management system with mobile and desktop software

Streamline your month end admin and reconciliation

Our automated expense reports mean that an employee simply has to snap a photo of their receipt once they’ve carried out a card payment, and all that spend data will be compiled in the Soldo console. No more sifting through piles of receipts, these digital expense reports will be a blessing for your finance team.

And when it’s time for the bookkeeping, Soldo’s seamless integrations with accounts software like QuickBooks and Xero mean you can transfer data across in seconds. And if you use any other software, these expense reports can be downloaded and exported to your preferred program.

Stop dreading the end of the month, and get started with Soldo to streamline your spend management.

Mobile transactions homepage from Soldo prepaid system

“When we switched to Soldo, it became obvious that it was quicker and more efficient. There’s a greater feeling of security; we have more confidence in Soldo than the traditional corporate credit cards.”

Mark Taylor
Director of Finance at Plymouth College of Art

“Petty cash and reconciling credit cards took a total of 6 days a month. Now it takes me half a day. It’s saving us time! It’s got great flexibility and it makes my life a lot easier”

Sandra Curran
Purchase Ledger Coordinator at Making Space

Apply online in minutes and start spending in as little as one working day.

No credit checks, no hidden fees, no fixed contracts. Cancel anytime.

1. Complete registration

We need to confirm your identity and address. Upload a few documents and you’ll be done.

2. Add funds

Load money to your account to order your Soldo card. Receive it in 2 working days.

3. Start spending

Shop online or instore safely with your contactless card.

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Let’s find the right Soldo plan for you

Choose a plan that fits the way your company spends. Apply in minutes, get going in as little as one working day, and cancel anytime.

Lock Bank-level security – FCA regulated & PCI compliant
 
Start
A basic plan giving you a taste of the Soldo platform.
£0per user/month
Up to 3 users and cards
Sign up now

Features include:

What’s included?

 
Pro
Get added flexibility to control funds and manage company spending.
£6per user/month
Minimum of 3 users
Sign up now

All of Start, plus:

What’s included?

Best for growing businesses
Premium
Get increased visibility, control and support for multiple currencies.
£10per user/month
Minimum of 3 users
Sign up now

Every feature from Pro, plus:

What’s included?

 
Enterprise
For medium and larger businesses, that need customisation, flexibility and dedicated support.
Custom pricing Unlimited users and cards
Book a demo

All the benefits of Premium, plus:

What’s included?

These prices exclude VAT. The Soldo software platform is operated by Soldo Software Ltd. The emoney business account and payment services are provided by Soldo Financial Services Ltd and are subject to additional fees such as, card issuance, cash withdrawals and others. See all the financial services fees here, and the typical limits here.

See all features

Frequently asked questions

What Is a Business Credit Card?

You can get a credit card for your business, but it will still need to be associated with the name of someone who works for the company. However, with prepaid cards like Soldo, you can assign cards to as many people as you need.

Can you get a credit card in a business name?

You can get a credit card for your business, but it will still need to be associated with the name of someone who works for the company. However, with prepaid cards like Soldo, you can assign cards to as many people as you need.

How can I get a business credit card without personal credit

If you have poor personal credit then it can be tricky to get a business credit card. There are providers out there who will offer you one, but they may not have the benefits you were looking for. Alternatively, you could try out one of Soldo’s prepaid card plans, which have no credit score requirements.

How long does it take to get a business credit card?

There’s no precise amount of time it takes to get approved, and the process varies between providers, but you’re likely to get your decision within 5-10 days. After approval, it can take up to ten days for your card to arrive. For faster approvals, why not try Soldo, and you could be up and running the very next day.

How is business credit card limit determined?

Your credit limit will depend on your application, including your personal and business profile. Higher limits may be offered if you have better business or personal credit. You can read more on business credit limits here.

How can I get a higher business credit limit?

You can contact your card issuer to request a higher credit limit, but this may not be accepted, depending on your credit history. With Soldo, however, the only limits are those set by you.

Are there costs associated with credit cards for business?

Yes. Cards can come with a number of charges, including an annual rate, cash withdrawal fee, and interest. Although these vary depending on the provider, there’ll probably be at least one fee or another, so it’s worth researching before you commit to any one card issuer.

How to find the best company credit card for your business?

The ‘best’ credit card will depend on what your business needs. Each provider will offer charges and benefits that are more favourable to some businesses than others. They will also have differing eligibility criteria. Read our guide here for a comprehensive rundown of the best business credit cards.

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Soldo® 2022 All rights reserved
The financial services provided to customers resident in or with registered office in an EEA country are provided by Soldo Financial Services Ireland DAC, a company incorporated in Ireland with company number 610705, and registered office at 33 Sir John Rogerson’s Quay, Dublin 2, Ireland, authorised as an Electronic Money Institution by the Central Bank of Ireland (firm registration number C179925). Mastercard is a registered trademark, and the circles design is a trademark of Mastercard International Incorporated. The card is issued by Soldo Financial Services Ireland DAC pursuant to a licence issued by Mastercard International Inc. Soldo Financial Services Ireland DAC complies with all applicable data protection and privacy legislation in force from time to time in Ireland, including the EU General Data Protection Regulation (EU 2016/679) and the Data Protection Acts 1988 - 2018. All communications related to financial services provided by Soldo Financial Services Ireland DAC shall be sent to Soldo Financial Services Ireland DAC, 33 Sir John Rogerson’s Quay, Dublin 2, Ireland.

The financial services provided to customers resident in or with registered office in the UK are provided by Soldo Financial Services Ltd., a company incorporated in the UK with company number 09495650, whose registered office is 119 Marylebone Road, London, NW15PU, United Kingdom, authorised as an Electronic Money Institution by the Financial Conduct Authority (firm registration number 900459). Mastercard is a registered trademark, and the circles design is a trademark of Mastercard International Incorporated. The card is issued by Soldo Financial Services Ltd pursuant to a licence issued by Mastercard International Inc. Soldo Financial Services Ltd. (data protection number: ZA147304) complies with all applicable data protection and privacy legislation in force from time to time in the UK and the EU including the General Data Protection Regulation ((EU) 2016/679) and the Data Protection Act 2018. All communications related to financial services provided by Soldo Financial Services Ltd shall be sent to Soldo Financial Services Ltd., 119 Marylebone Road, London, NW15PU, United Kingdom.

The software services and the website are provided by Soldo Software Ltd., a company incorporated in the UK with company number 09233754 and VAT: GB204213566, whose registered office is 119 Marylebone Road, London, NW15PU, United Kingdom. Soldo Software Ltd. (data protection number: ZA 092035) complies with all applicable data protection and privacy legislation in force from time to time in the UK and the EU including the General Data Protection Regulation ((EU) 2016/679) and the Data Protection Act 2018. All communications related to the website, the software and related services shall be sent to Soldo Software Ltd., 119 Marylebone Road, London, NW15PU, United Kingdom.