Cash passports simplify spending and save time for employees on the ground and finance teams.
Find the best options and discover better alternatives.
Get your first 3 cards free.
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.
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.
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
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
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.
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
Powerful cash passport solutions allow you to view and control all aspects of spend through expense management software.
IMPORTANT: Make sure your expenses solution allows you to do all of the above, otherwise you’ll end up spending more.
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.
“In the past, expense reimbursement took one and a half days, and now it takes slightly more than half a business day.”
“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.”
“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…”
“We need to have non-nominative cards, in multiple currencies, attached to powerful reporting that integrates with Sage. Soldo ticks all those boxes.”
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.
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
