How does Soldo work?
Soldo is a multi-user expense account that helps you control business spending and, thanks to the integration with your accounting software, makes it easy and quick to manage and reconcile all company expenses. Soldo is not a business account and we’re not trying to replace yours. We’re here to complement the traditional business account offering with more advanced and innovative financial services.
You can give Soldo cards to some or every employee, to entire teams or even contractors, deciding who can access company money and the rules they need to follow to spend it. With intuitive tools like the mobile app and web console, you’ll be able to track spending real-time, instantly transfer funds to all card holders (for free), establish budgets and rules, and much more. Click here to explore Soldo features in depth.
Who is behind Soldo?
Soldo Financial Services Ltd is an electronic money institution, authorised and regulated by the Financial Conduct Authority under the Electronic Money Regulations 2011 (ref: 900459).
Soldo was founded in 2015 with the objective of creating the world’s first multi-user spend control solution, and to help businesses of all sizes manage company spending in a smarter, more efficient way. With our headquarters in London, the Soldo team also works across offices in Dublin, Milan and Rome. Read more about us here.
Does Soldo integrate with my accounting system?
Yes, Soldo integrates with all major accounting systems. Soldo has the world’s most complete API connection to Xero, sending transactions daily via an automatic bank feed. It’s also easy to share enriched transaction data including receipts, categories, notes and much more – in just one click.
If you’re using another accounting platform – like QuickBooks, Sage or many others – Soldo makes it easy to export transaction data in a variety of formats, in two clicks. Transaction data can be exported in PDF, XLSX, CSV, QIF, OFX and ZIP formats, making your data compatible with all major accounting software solutions.
What size company is Soldo suitable for?
Soldo isn’t just for small business, it’s for all business. Soldo scales from one card to any number, matching the structure of your organisation with sub-accounts for departments or individuals, which fund cards for teams, employees or contractors.
Though our software is intuitive and easy to use, powerful reporting is made possible by smart filters and granular transaction data. So, whether your business has two employees or 20,000, Soldo can help you gain visibility and control over spending, while simplifying expenses.
If your company has more than 100 employees, discover our tailored offer for enterprises on the dedicated website.
What if I want to leave Soldo?
We’re sure you’ll be happy with our service, joining thousands of satisfied businesses. But if you ever want to leave, you can close your Soldo account at any time and all the funds available on your account will be transferred back to the account from which they were initially deposited.
Security and Privacy
How secure is Soldo? What guarantees do I have?
Soldo Financial Services Ltd is an electronic money institution, authorised and regulated by the Financial Conduct Authority under the Electronic Money Regulations 2011: this means we have to follow strict compliance processes. We don’t lend or take risks with customer money, we access it solely to execute the customer’s transactions. Client funds are always protected, as they are completely independent of Soldo’s business accounts and assets. The funds are safeguarded under UK Electronic Money Regulations 2017 and cannot be claimed by Soldo creditors.
Where is my money held?
We don’t lend or take risks with our customers’ money, we access it solely to execute the customer’s transactions. Client funds are always protected, as they are completely independent of Soldo’s business bank accounts and assets. Client money is kept in a protected, ring-fenced account in leading banks in each market. The funds are safeguarded under UK Electronic Money Regulations 2017 and cannot be claimed by Soldo creditors. Funds held by Soldo are not covered by the Financial Services Compensation Scheme.
Are my data safe with Soldo?
How do I top up my Soldo account?
You can choose between a bank transfer, which can take up to 24-48 hours for GBP and EUR transfers (up to 5 working days for USD transfers) to appear in Soldo, or Faster Payments (BACS) where money is typically transferred immediately. Once a deposit is accredited, you can transfer funds to your employees’ wallets instantly and completely free of charge.
What is a wallet?
On your web console, you’ll find your company wallet – a sub-account where you deposit your company funds. You can then transfer funds (instantly and for free) to your employees’ wallets, which is where you can track all the expenses made with a Soldo card by the user associated with that wallet.
Is it possible to create group cards?
Soldo Premium offers the ability to create non-nominal ‘Expense Centre’ cards. How you use these cards is up to you, for instance you can create cards for departments, teams, one-off events, ongoing subscriptions and more.
What support does Soldo offer?
Plans and fees
What’s included with all Soldo plans?
- Soldo Mastercard® cards: as many as you need for your team
- Soldo app: to keep track of each payment
- Soldo web console: to manage company expenses and reports with ease
- Basic reporting
- Free and instant transfers to employee cards
What’s the right plan for my business?
From micro businesses to large corporates (and everything in between), we have a plan that’s perfect for you.
Soldo Start is a basic solution featuring an automatic daily bank feed into Xero. This plan doesn’t include receipt capture or the complete integration with Xero.
Soldo Pro features a complete expense and automatic bank feed integration with Xero. This plan also includes receipt and enriched data capture, which is why we think it offers the best value for small and growing teams.
Premium is the most complete plan, which comes with all the features of Soldo Pro but also advanced reporting and permission/roles and the possibility to create non-nominative cards for company expenses.
How much does Soldo cost?
We are transparent about our prices. On our pricing page, you’ll find all the information about Soldo each plan’s price and any associated fees.
Are there limits or other fees?
You can discover all Soldo fees here.