Are There Downsides to Using Fleet Cards?

While fuel cards have many benefits, there are a few downsides. These can include potential restrictions on where the card can be used, limited fuel station options, transaction fees or card issuance fees, the requirement to maintain minimum fuel volumes, and potential challenges in reconciling fuel receipts with the card statement. Additionally, some businesses may find that the administrative burden of managing fuel cards outweighs the benefits for their specific needs.

The primary downside to using fuel cards is that it will likely require more admin work, mainly when used by drivers. Drivers must manually capture vehicle registration and mileage information, but implementing a reliable mileage tracker can easily solve this issue.

Another issue is that fuel card companies can restrict the network of gas stations that accept their cards. This can be a hassle for fleets that need to travel across the country and use a variety of gas station networks.

However, fuel cards have significant advantages compared to traditional methods of purchasing diesel for your trucks. They provide more detailed information about gas purchases, saving time and money when calculating taxes. They also make it easier to control fuel costs, and most cards clearly understand fees. This makes them a good choice for small businesses looking to streamline their fleet management processes.

What Do Fuel Cards Cost?

The cost of fuel cards can vary depending on the provider and the specific features offered. Generally, fuel cards may have a nominal annual fee per card or account, transaction fees for each fuel purchase, and potential fees for additional services such as reporting or card replacement. It’s advisable to compare different fuel card providers to understand the associated costs and choose a card that aligns with the business’s fuel consumption and requirements.

It’s important to note that these are general cost considerations, and actual prices may vary depending on the specific fuel card provider and the terms of the agreement. It is advisable to request quotes from multiple providers, compare their offerings, and consider factors such as the fuel station network, customer support, additional services, and any restrictions or limitations associated with the fuel card program.

Furthermore, the potential cost savings and benefits of using company fuel cards should be evaluated in conjunction with your business’s fuel consumption patterns, the convenience and control offered by the fuel card program, and any potential administrative efficiencies gained.

In addition to providing significant savings on fuel, a high-quality business fuel card can transform vehicle expense reporting from a cumbersome manual process to a robust management and control tool. It can limit what types of road expenses are allowed, help prevent real-time cost risks like fuel theft and car wash fraud, and provide much more granular data than a regular business credit card does.

Choosing the right card for your fleet involves weighing many factors, including region, discounts, fees, and controls. While the best cards offer a variety of benefits, they may require a one-time account setup fee or monthly administrative fees. These fees are often assessed per gallon or in the form of a percentage of the total cost of each purchase.

Some cards are explicitly designed for owner-operators and provide retail-minus pricing at 95% of UK petrol stations and truck stops. This card can help you save on diesel fuel, maintenance and truck supplies. It also offers an optional rewards program that allows you to earn points on fuel purchases to redeem for food, drink, truck accessories, and other items.

Who are the Main Providers of Payroll Services in the UK?

Who are BP Fuel Cards

BP Fuel Cards are payment cards specifically designed for businesses and fleet operators to manage their fuel expenses. These cards allow users to purchase fuel and related services at BP fuel stations and other selected partner sites across the UK and internationally.

Fuel cards offer businesses greater control over fuel spending. They provide detailed transaction reports, allowing businesses to track and monitor fuel usage, expenses, and driver behaviour. This data can be valuable for budgeting, cost analysis, and optimising fuel efficiency.

BP Fuel Cards typically come with online account management tools. These platforms enable businesses to access real-time information, manage card limits, set spending restrictions, and generate reports, providing enhanced control and visibility over their fuel management.

It’s important to note that specific features and benefits of BP Fuel Cards may vary depending on the card type and the agreement with the provider. Businesses should carefully consider their requirements and compare offerings from different providers to choose the most suitable fuel card solution for their needs.

Features of BP Fuel Cards

• Innovative – they provide innovative energy and fleet mobility solutions for fleets of all shapes and sizes.
• Flexible – tailored pricing models
• Protection – comprehensive fraud protection
• Easy to use – oversee your whole fleet from a single dashboard and control your costs
• Small businesses – enjoy less paperwork

Esso Fuel Cards

Who are Esso

Esso Fuel Cards are payment cards specifically designed for businesses and fleet operators to manage their fuel expenses. These cards allow users to purchase fuel and related services at Esso fuel stations and selected partner sites across the UK and internationally.

Esso Fuel Cards often come with competitive fuel pricing, discounts, or special offers, which can help businesses save on their fuel expenses. These cost-saving features can contribute to better budget management and overall operational savings.

Esso Fuel Cards typically come with online account management tools, allowing businesses to conveniently monitor and manage their fuel card accounts. Users can access real-time information, track transactions, and generate customised reports for better financial control.

Esso Fuel Cards provide access to a network of Esso fuel stations, offering a wide coverage across the UK. Additionally, some Esso fuel cards may also be accepted at partner stations, allowing users to refuel at a broader range of locations.

Features of Esso

• Nectar points – Earn points at Esso branded service stations across the UK.
• Online account management – Using WEX Velocity. you can order and block cards, monitor usage and driver performance as well as find your closest fuel station – saving you time and money spent driving around to find an accepted site.
• UK wide coverage – the Esso card is accepted at a widespread network of fuel stations across the UK – including motorway sites, and Esso, BP and Shell – so you’re never far from a fill-up.
• Quality – when tested on everyday cars, Esso Synergy Diesel helped improve fuel economy by an average of 1.8%**.
• Compliant – invoices are HMRC compliant, making administration and accounting much simpler.
• Improved cash flow – Instead of paying for fuel using cash and keeping receipts, you will receive a weekly invoice and pay via direct regular debit.

Soldo Fuel Cards

Who are Soldo

Soldo is a financial technology company that offers expense management solutions for businesses. They provide prepaid corporate cards and a comprehensive expense management platform to help businesses streamline their expense processes, gain control over spending, and simplify financial management.

Soldo allows businesses to set customised spending controls and policies for each card. This ensures that employees adhere to spending limits and comply with company expense policies, reducing the risk of overspending or unauthorised expenses.

Soldo provides real-time visibility into spending activities through its reporting and analytics tools. Businesses can access detailed reports, analyse spending patterns, and gain insights to make informed financial decisions.

Features of Soldo

• Reliable – 30,000+ businesses trust Europe’s leading fuel cards platform Soldo
• Complete oversight – Soldo company cards allow you to control who spends company money, how much, on what, and which budget they use.
• Save time – No out-of-pocket spending means no more reimbursements – saving finance teams hours on expense processing.
• Expense management – the expense management platform and mobile app are user-friendly and intuitive.
• Easy integration – Soldo connects with your accounting software so you can track, manage, and report on employee expenses and company spending

Fuel Card Services Fuel Cards

Who are Fuel Card Services

Fuel Card Services is a UK-based company that specialises in providing fuel card solutions for businesses and fleet operators. They offer a range of fuel cards that provide access to fuel stations across the country, helping businesses effectively manage their fuel expenses.

Fuel Card Services offers a variety of fuel cards from different providers, including major fuel brands like BP, Shell, Esso, Texaco, and more. They work with multiple card providers to ensure businesses have access to a wide network of fuel stations.

Fuel Card Services negotiates competitive fuel pricing and discounts with their network of fuel stations. This allows businesses to benefit from cost savings on fuel expenses, helping them better manage their fuel budgets and optimise their operational costs.

In addition, Fuel Card Services has a team of dedicated account managers who provide support and assistance to businesses using their fuel card services. They offer guidance on selecting the right fuel card options, resolving issues, and ensuring smooth account management.

Features of Fuel Card Services

• Service – Detailed and flexible fuel analysis reports available online 24 hours a day
• Convenient –  Accepted at around 3,500 sites including a selection of BP, Shell, Esso, Texaco, and select supermarkets
• Coverage – discount diesel also available from Moto motorway service stations
• Savings – Very competitive fixed weekly prices on diesel available at over 3,000 sites across the UK, with up to 10p per litre saving on diesel available at participating motorway sites
• Security –  Fuel card use restricted to fuel, lubricants and Adblue