Prepaid Company Cards

Whatever your team does, help them do it with Soldo. Get prepaid company cards for the whole team without the risk of overspending or the need for reimbursements.

Take the pain out of payments

Don’t make your team chase the credit card around the office. Smooth out the payment process by giving everyone in your business their own company card for controlled access to company funds. They’ll love the autonomy, you’ll love the accountability.

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Today, a surprising amount of businesses still expect employees to cover business expenses with their own money. As a result, employees must keep track of receipts and wait for reimbursements, putting unfair stress on their personal finances, while creating a pile of extra work for the accounts team. 

Smart company cards for your whole team

Issuing company credit cards or relying on employees to pay out-of-pocket have been the traditional solutions, but both come with their own downsides. With company credit cards, there is no way to proactively prevent overspending they’re treated with suspicion by finance teams and normally only given to senior management. With out-of-pocket expenses, employees are put in unfair positions financially while waiting for reimbursement, and there’s a lot of extra admin work created for finance teams.

Soldo’s prepaid business cards offer a smart solution. Thanks to their easily managed transaction limits, your employees’ spending is put back in your control. Large or small amounts of money can be loaded remotely at any time from Soldo’s admin console. The cards can, therefore, be entrusted to all staff, regardless of seniority, safe in the knowledge that they can’t overspend. 

Automated expense tracking

When spending with Soldo, payments can be fed into your business accounts through csv imports, or for Xero users, automatically through an integration. 

Your team no longer needs to manually log each purchase, chase receipts or authorise repayments one-by-one. Instead, you’ll receive instant updates in your console without having to wait for each expense claim.

Prepaid cards you can use anywhere

Soldo’s prepaid cards are issued by Mastercard and can be used anywhere that accepts credit cards. They can be used for purchases in person or online, ideal for travelling or business subscriptions, along with ATM withdrawals. When individual card accounts get low, additional funds can be instantly transferred via Soldo’s admin console. 

It’s also very cost-effective to use prepaid company cards abroad. Whether travelling for or conference, the card can be used at any of the 30 million Mastercard outlets worldwide with only a 1% foreign exchange fee.

Features

Budgets and rules

Define who can spend what, where, and when. Manage spending before it happens with customisable budgets and rules for each card. 

Accounting integration

Export transaction and expense data to every major accounting software, in two clicks. Get an automatic bank feed to Xero. Pro and Premium: Automate expense data exports to Xero.

Dedicated support

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

How prepaid cards work

Unlike many providers of prepaid business cards, Soldo can issue a separate card per employee with its own unique card number. The transactions run through Soldo, instantly importing into the admin console so you can see the spending. 

Within the admin console, you get a summary of each employee’s card, complete with their transactions and limits, so that you can update their budget or card rules as needed.

You can compliment your prepaid cards with Soldo’s virtual cards as part of your plan. These are popular for enabling online spending or recurring costs such as ordering supplies or funding advertising spends.

 

Transparent, scalable pricing plans

With Soldo, you’ll get transparent pricing with no hidden costs. Fees include:

✓ Either a free basic account, or fixed cost premium accounts

✓ A small fee each time a new card is issued

✓ No setup or cancellation fees

Soldo uses a simple monthly pricing structure, with the ability to switch tiers or add cards at any point. If you need additional cards you can issue more from within your admin console. There are no credit checks to fill out and wait for, so a new employee and card can be set up in minutes.

For a comprehensive breakdown, see our fees page.

Order Soldo prepaid company cards today

Choose the plan that best suits your business, and take the hassle out of your expenses.

“I’ve been using it for contractors, too. Found that the list of expenses shrinks when they’re not using their own cards. Coincidence?”

Gabrielle

“With Soldo, we’ve cut spending in half. We can control what people spend – and they actually like it. We’ll never go back to the old credit card!”

Polly

FAQs

  • Prepaid business cards are a convenient way to manage your spending.

    • Limited access to funds: Your employees can only spend as much money as they have access to, and it’s up to you how much that is.
    • No credit check: If you’re a new business that hasn’t built up a credit history – or an existing business with a rocky one – you’ll still be eligible for a prepaid business card.
    • No maximum circulation: You can have as many prepaid cards in circulation as you feel comfortable with.

    But when you use Soldo’s prepaid business cards, there are a number of additional benefits:

    • No risk of overspending: You can not only decide how much they have on their cards, but also when and where they’re allowed to spend their balance.
    • Real-time transaction data: You can see everyone’s purchases as they happen from Soldo’sweb console, and get notified the moment there’s an unusual purchase.
    • Simpler expense reconciliation: Every transaction is matched to a cardholder, who can upload a picture of their receipt at the point of purchase via our app.
    • Simpler accounting: You can upload transaction data straight into your accounting software, and seamlessly integrate your console with Xero and its bank feed.
    • Good for morale: Your employees won’t need to spend their own money and wait until the end of the month to be repaid.
  • There are a variety of alternatives to prepaid business cards.

    Ask your team to pay: You could ask staff to cover their own expenses and then reclaim what they’re owed at the end of the month. But this can be a drain on morale, and may make things tough for those who don’t have the money to spare. Plus, they’ll need to devote a certain amount of time each month to filling in expense claims and tracking down old receipts.

    Use petty cash: Petty cash is a traditional way of paying for small-ticket items, but it isn’t appropriate for big purchases, or those that need to be made online. It can be easy to lose track of, too, and you might not know who’s spending it and where.

    Use credit and debit cards: Credit and debit cards provide the flexibility and independence of business expense cards. But there are no rules or adjustable limits to choose from, or real-time tracking, which means you’re likely to lose money to misuse.

  • Whether your business is made up of five people or five hundred, Soldo prepaid cards could be a great option for you.

    They’re particularly useful for startups and SMEs because there’s no need to build a strong credit score before you apply. And they’re particularly useful for large businesses because you can confidently allocate as many as you like across the entire business.

  • It depends on the prepaid business card you choose. You’ll likely need to pay for continued use of the console and the cards, but these costs are much smaller than fees incurred by credit cards – and you’ll never have to pay interest on the balance.

    You can find out more about Soldo’s pricing here.

  • All prepaid cards have the same basic functionality, but only a few have the data management capabilities needed to integrate with popular accounting software.

    Those that do, like Soldo, can export and import transaction data to Quickbooks and other accounting apps. Soldo’s payment console also seamlessly integrates with Xero, including its automatic bank feed and accounting APIs.

    This is particularly useful for accountants, as they’ll be able to get a closer insight into how and where your money is being spent and offer answers for how to make things run a little more smoothly.