Get the best fuel prices from any petrol station with the Soldo universal fuel card.
Unlike other fuel cards, Soldo lets you use any petrol station in the country. Even better, you can use our cards to pay for business travel necessities and other mobility expenses so your staff are never out of pocket.
Related content: What is a fuel card management system?
Travelling staff will need to pay for more than just fuel. That’s why Soldo’s cards are customisable, so you decide who can spend what and where.
Assign fuel cards to individuals or vehicles so you can easily track who’s spending what. Remotely approve or decline requests with our expense management software.
Not only will Soldo’s fuel cards give your drivers flexibility, they’re also part of a comprehensive system that makes light work of expenses across your business.
With an intuitive app that allows you to track transactions as they happen, our system is designed to overcome the hurdles of traditional business payment cards. Get three cards free by signing up to a Soldo plan, and start simplifying your spending.
What is a fuel card?
The use of fuel cards is becoming increasingly popular as businesses recognise the many benefits that they offer.
Instead of paying for the cost of fuel using cash, credit or debit cards, employees can use a fuel card. The cards can be affiliated with a major fuel brand, or operate across specific fuel stations, such as supermarket forecourts.
Some cards only allow drivers to refuel, but other types also cover certain vehicle costs, such as replacement tyres and windscreens, and even tolls on bridges and roads. Firstly, transactions are logged against the car, and businesses will then receive regular invoices in a format that is compliant with HMRC. The use of dedicated cards for fuel frees business managers from the burden of collecting receipts and calculating VAT manually.
How do fuel cards work?
They can be assigned to an individual vehicle or a specific driver. When the vehicle requires refuelling, the driver fills up at the pumps as usual. The card is handed to the cashier who logs the transaction, just as they would with a credit card. The driver then inputs their PIN and sometimes a separate unit number too, as further verification.
The transaction is charged against the account that owns the card. Invoices are issued to the business regularly, usually weekly or monthly, showing each purchase for that specific accounting period.
What are the benefits of fuel cards?
The main benefit of using fuel cards is the opportunity to purchase fuel at a discounted price. There is a wide choice available, and the majority give access to fuel prices that are cheaper than the price advertised at the pump and on the forecourt. The discount may only be a few pence per litre but over a year that can represent huge savings, particularly for companies operating a large fleet.
Employees appreciate them, as they enable them to fill up company vehicles without any need to use their own money. Expense management can be a long-winded and frustrating process, usually involving bundles of damaged receipts which tend to go astray. Lost receipts might leave your employees out of pocket, which in the long run could cause resentment. Learn more about how the Soldo mobile app helps with receipt capture.
Unlike credit cards, which can pay for various business expenses, fuel cards tend to be exclusively for fuel and motoring expenses, so there’s no confusion as to the amounts spent and where. Invoices contain all the information that a business needs to complete its accounts, making light work of administrative tasks.
The majority of fuel cards come with controls that fleet managers can tailor according to the needs of the business. For example, it’s possible to set specific spending limits on each card issued, which significantly limits any potential for fraudulent use.
Additionally, the information displayed on the invoices allows business managers to assess the mileage and running costs of their vehicles with high accuracy, which can speed up your mileage claim processes. It’s also possible to identify drivers who could benefit from further training to encourage more efficient fuel consumption.
Where can fuel cards be used?
There are a variety of cards available, some affiliated with particular fuel brands such as Shell and Esso and some giving access to supermarket forecourts, for example. The cards can also be associated with specific types of fuel. Businesses can choose diesel cards, petrol cards, or combination cards which allow access to all fuel types.
Businesses that own several vehicles may find that a dedicated card for fuel can help to save time and money. In addition to providing businesses with HMRC-approved invoices, the data collected allows business managers to keep a close eye on the activities of their vehicles and their drivers to ensure optimum efficiency.
“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.”
“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.”
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.
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.
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