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A smarter fuel card alternative
Traditional fuel cards only solve one specific issue brought about by company credit cards – the inability to silo fuel spending. And in doing so, they bring several problems of their own. Moving to a prepaid solution gives you a new level of control, flexibility and oversight, while saving you and your team time.
Fuel card services and more
Soldo’s prepaid accounts enable you to do almost everything a fuel card can do, plus a lot more – including real-time spending tracking plus predefined budgets, rules and limits.
Giving a team member a personal fuel card means giving yourself another bank statement to reconcile each month. With prepaid company cards, you can manage everything in a single place.
Free up the fuel card
Traditional fuel cards are limited to specific petrol stations – prepaid accounts can be used anywhere.
Pay for the whole trip
Petrol is rarely the only expense incurred by staff on the road. Instead of handing out a card for each situation, give them a single prepaid account that works for everything.
What are company fuel cards?
Company fuel cards are accounts that your team can use to pay for the petrol they use on business-related car journeys. Some of them also allow team members to pay for oil and maintenance costs – but nothing else.
In the UK, the use of company fuel cards is limited to their network of participating petrol stations, which vary between providers. These might include major chains, supermarket fuel stops or a combination of the two.
Traditionally, the best business fuel cards have been an effective way to organise petrol spending. But they’re a rigid solution to a very specific problem – and the rise of prepaid options such as Soldo has made them entirely redundant.
Using Soldo negates the need for separate petrol cards, entertainment cards and expense cards. You can track every transaction for easy VAT registration and processing, while also setting spending limits and empowering your staff to manage their business trip expenses themselves.
Learn more about Soldo
Soldo: a cut above the best fuel cards
5 stars – 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.– Karen Green, Operation Manager, Titans
Soldo is a complete spending solution, with advanced features to help you manage and track each account. Once your team has experienced our flexible prepaid business cards and integrated apps, they’ll never want to go back to outdated company fuel cards.
Set spend limits by journey
Get complete control over your company fuel spend: with individual budgets set by length or frequency of trip. Turn off cards at the click of a button when staff aren’t on the road, and add new users in seconds.
That level of control extends beyond petrol, too. You can define budgets that match your employee expense policy for food, entertainment and more. So staff get a single card for every expense, and you can rest easy knowing that they can’t overspend.
An integrated system
Soldo integrates with accounting software – including Xero, Sage and Quickbooks – enabling you to quickly and easily assess your overall outgoings, rather than dumping all your fuel purchases into a single card statement.
With Soldo’s auto-tracking feature, you can collate and organise company-wide expense data by department, category or any other criteria you wish. Depending on how you report, you can choose whether to combine or separate petrol expenses from the rest of your budget.
Make your teams’ lives easier
While some traditional business fuel cards log the point of sale information, many still rely on individual employees retaining and presenting receipts to the finance team.
Soldo’s system is completely paperless. The app automates the expense process, saving time and removing unnecessary hassle. All staff have to do is snap a picture of their receipt at purchase. Plus, it lets your employees know how much they’re spending, and how much they have left in each budget.
Plus, Soldo’s Mastercard® cards can be used anywhere. So staff can fill up and get back on the road quickly and easily, instead of needing to trawl through the sat-nav for a participating station.
Soldo’s web console keeps you up to date with all spending – including fuel – as and when each transaction happens. So you don’t have to wait for each statement to arrive to find out what your expense costs are.
If there’s a transaction that looks out of place, then you’ll get notified immediately, reducing the risk of fraud or misuse.
You can even use Soldo’s advanced reporting tools to take a deep dive into your business spending. With all your spending in one place, creating new reports takes seconds. And filters enable you to drill down to the areas that matter.
Is Soldo a fuel card?
Soldo isn’t a traditional fuel card – but it features all the functionality of a fuel card, plus a lot more. You can use Soldo as a prepaid fuel card, FX card, general expenses account and more. Using our web console, you can set specific rules and budgets for each account, giving you total control over every card.
What does a fuel card do?
A fuel card lets employees pay for petrol using a ring fenced account, instead of having to pay out of their own pocket then file an expense claim or using the business bank account. In recent years, the rise of prepaid solutions such as Soldo has enabled businesses to move beyond fuel cards to integrated spending systems that cover everything.
Can anyone get a fuel card?
There aren’t usually too many restrictions on getting a fuel card, so almost any business can apply for them. It’s equally easy to sign up with a prepaid card provider such as Soldo, with no credit checks required – making it a great fuel card alternative.
Do fuel cards save my business money?
It depends on your current expense management plan, and whether that approach is costing you too much money. Most fuel cards won’t save you money on petrol, though – they just make it easier for your team to pay for business travel expenses.
How do I get a fuel card?
You’ll need to apply for a fuel card with a provider. Each provider has its own network of participating petrol stations, so it’s worth researching where staff will be refilling so they don’t have to make unnecessary detours.
You can apply for a Soldo card entirely online, and get up and running within a single day. Because Soldo cards work at any petrol station, there’s no need to worry about inconveniencing staff.
Get a complete business spending solution
Join Soldo today for paperwork-free prepaid cards that work for fuel, travel, FX and more.