The Cash Passport Card Alternative

Cash passports simplify spending and save time for employees on the ground and finance teams.

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What are multi-currency cash passports and how do they work?

Cash passports is another term for prepaid travel cards. Multi-currency means they work across multiple currencies (generally with additional fees).

They work by enabling you to give each staff member access to their own spending account and card that they can use while they are away on business.

That means that your team can manage their own spending while increasing their accountability, saving you time and giving you complete control.

cash passport budgets
cash passport budgets
cash passports travelling

Even the best-planned business trips can become a tangled maze of spending.

As well as the more predictable stuff – accommodation, transport and food – there are also plenty of unforeseen expenses. A last-minute dash for a new laptop charging cable or even a bit of spontaneous client entertainment to toast a new deal can make tracking tricky.

Asking staff to cover these costs with their own money can land them in personal financial trouble and isn’t good for morale. If they’re worried about money while on a trip, your staff may be more likely to take risks or skip essential spending that might put your business relationships in jeopardy.

You want your people prepared and empowered with the resources they need to do good business on their trips away. In these situations, a prepaid cash passport comes in handy.

Recreational travellers have been using cash passport cards for years to simplify their spending – after all, who wants to worry about exchange rates and bank fees while on holiday?

You want your team prepared and empowered with the resources they need to do good business on their trips away.

cash passports travelling

Are there cash passports for business travel?

Until recently, these cash passports haven’t had the features that businesses need to make it worth their while when it’s time to do the expenses reports.

Now, many UK businesses are using cash passports to make company spend much easier while travelling.

The most popular cash passport for business is the Mastercard Corporate Cash Passport, but you might find that there’s another option that better integrates with your existing expenses process.

A few new challengers are giving businesses the perfect balance: the freedom to spend, and powerful tracking and reporting features.

The top business alternatives to Mastercard cash passport

  • Soldo business prepaid cards
  • Travelex Money Card
  • Eurochange Multi-Currency Cash Passport
individual cash passports
individual cash passports
cash passport invoicing

Benefits of a cash passport for business travel

Much more efficient
Assigning each team member their own prepaid card is a whole lot easier than reimbursing employees when they get back. It saves them keeping receipts, and it saves you processing them.

No credit or background checks
Traditional credit cards may make you go through a lengthy process each time you want a new card or bring someone new into the team. With a prepaid cash passport for business, you’re the boss: delegate cards at your discretion

cash passport invoicing

Soldo: Better than a cash passport for business

Choosing the best prepaid travel card for your company usually comes down to two factors: functionality and price.

With Soldo, you get advanced features such as accountancy integrations and granular spending controls – and we have plans to suit businesses of any size. Sign up with Soldo today for a prepaid travel card that gives you complete control over business trip spending, great FX rates and much more.

Start spending quick
Your card can be in your hands in less than five working days. Get a ‘virtual card’ for purchases that just can’t wait in less than one working day (and generate one instantly if you already have a Soldo account).

Drastically reduced liability
Since you’re specifying exactly how much money is on the card at any time, you eliminate shocking incidents of fraud or overspend. If a team member leaves their card on the train, just freeze it or transfer the money elsewhere in an instant. It’s also much lower-risk than loading up your teams with petty cash.

Real-time transaction information
No having to wait for monthly statements (and no more relying on cash). Some, like Soldo, let you integrate seamlessly with Xero, QuickBooks and NetSuite, and export data into any accounting system.

train travel with cash passports
train travel with cash passports
prepaid travel card payments

Better FX rates with Soldo

Most multi-currency cash passports will charge foreign exchange fees. Check the fine print on your cash passport to make sure you’re paying a competitive rate.

For example, here’s what Soldo charges for currency exchange services:

Card Foreign Exchange transaction Fee
EUR, GBP, USD

Soldo Pro and Premium 1.00%
1.00% above the latest available interbank rate

Click here for more information on Soldo’s fees >

prepaid travel card payments

Complete control over spending

Powerful cash passport solutions allow you to view and control all aspects of spend through expense management software.

  • What money is spent
    Set daily, weekly or monthly budgets or set a limit for one-off transactions.
  • How money is spent
    See precisely how much has been spent online, in-store or withdrawn from cash machines
  • Where money is spent
    Not just which merchant, but which branch along with category information
  • Why money is spent
    Lock/unlock cards, get full visibility of every transaction and real-time alerts for users to upload receipts and information according to expense policies

IMPORTANT: Make sure your expenses solution allows you to do all of the above, otherwise you’ll end up spending more.

cash passport tracking
cash passport tracking

Level up your business with Soldo

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

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The best ratings across the web

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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.

What our clients think about us

“In the past, expense reimbursement took one and a half days, and now it takes slightly more than half a business day.”

Marco Valerio Izzo, Buzzoole
Finance Manager

“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, Get Your Guide
Head of Payments and Fraud

“Soldo has enabled us to close our old corporate credit card scheme, remove petty cash from our business and reduce the number of expense claims we process. This has reduced the administrative burden, replacing separate…”

Lee Jaques, Bruntwood
Finance Project Manager

“We need to have non-nominative cards, in multiple currencies, attached to powerful reporting that integrates with Sage. Soldo ticks all those boxes.”

Paraag Amin, DotDigital
Former CFO

All Soldo plans include

Everything you need to get started

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 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.

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.

Dedicated support

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

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

  Regulated by the Financial Conduct Authority
  Works with any business bank account
  Rated “Excellent” on Trustpilot
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