Managing your businesses staff expenses can be complicated and onerous which is why a prepaid company expense card could help. Expense cards can be issued to individuals and some allow them to be used abroad.
Many providers offer the facility to track expenditure in real-time, automatically load funds and allow you to export data or they connect to your accounting software. This increased visibility and accountability can help businesses to better control expenses. There are several prepaid expense card providers which we have explored below.
The table below gives a quick price comparison of the top UK providers for prepaid company expense cards.
|Company||Monthly Price per card per month||Card Type|
|EasyFX||Not stated||Not stated|
|WeSwap||Charges start at 1%||Mastercard|
|B4B Payments||Not stated||Mastercard|
* The facts and figures included here come from each company’s website and were accurate at the time of writing (April 2020) but may have since changed. Also, please keep in mind these may not be apples to apples comparisons as each provider offers different solutions. This guide should be used as a starting off point for more research on your part.
Below we profile each of the companies’ services and features in a bit more detail.
Note companies are ranked in no particular order and this no way indicates one solution is better than another.
Some of the features and benefits of Soldo’s prepaid company expense cards.
- Prepaid Mastercard
- Helps you with managing expenses
- Allows you to control spending
- Automatically send funds to cards
- Empower employees
- Real-time tracking
- Simplified reporting
- Export to any accounting system
- Employee mobile app
- Employer web console
Soldo is a specialist provider of pre-paid business expense cards which are Mastercard. They have designed their cards to simplify reporting, provide real-time tracking and manage staff expenses effectively through recording all purchases and allowing you to export the information directly into any accounting system.
Soldo offers three types of products – Pro which offers the core card features, Premium which provides advanced controls, functionality and reporting, and Enterprise which is designed for those requiring more than 30 cards and it offers more advance integrations and dedicated support. They provide employers with a web console and employees a mobile app to help everyone to keep track of transactions and balances.
Some of the features and benefits of Pleo’s prepaid company expense cards.
- Offers smart company credit cards
- Automated expense reports
- Simplifies company spending
- Set limits for each staff member
- Import receipts on their app
- Real-time visibility and notifications
- Integrates with accounting tools
- Instantly disable and enable cards
- Automatically categorise purchases
- Offers three plans
Pleo is a specialist company credit card provider that enables businesses to manage and track expenses more successfully. They offer Mastercards that allow employees to make purchases without having to spend their own money and it gives employers control and visibility of expenditure.
Pleo offers three plans – Essential providing the core features, Pro which is for growing teams and enhanced product features, and Premium which is designed for larger teams and offers a dedicated account manager. Their cards allow you to set individual limits per employee and their app allows employees to import receipts on the go. It integrates with accounting tools to allow you to export data.
Some of the features and benefits of Cashplus’ prepaid company expense cards.
- Offers a low-cost alternative to company credit cards
- Helps manage expenses
- Provides free additional cards
- Set individual limits for each card
- Quick to set up
- Track expenditure in real-time
- Integrates with accountancy software
- No monthly card fees
- Pay in money through a bank transfer
- Charges a single annual fee on the primary account
Cashplus is a business current account provider that offers customers a low-cost alternative to company credit cards which are prepaid Expense Cards that are Mastercards that can be used for staff expenses. They allow you to have up to 20 cards per account and provides additional cards for free.
Cashplus’ Expense Cards don’t have an individual card fee but have a single annual fee that is applied to the primary account. Their cards offer an individual limit and money can be paid onto the card simply through a bank transfer. You can easily manage the cards, track real-time expenditure 24/7 and it can integrate with your accountancy software.
Some of the features and benefits of EasyFX’s prepaid company expense cards.
- Business expense cards designed to be used overseas
- Prepaid currency card
- Zero fees on purchases, withdrawals and transfers
- Store multiple currencies on a single card
- Unlimited number of cards
- Monitor expenditure in real-time
- Manage from any device
- Free international transfers
- Easy to manage controls
- Flexible card that can be used in millions of locations worldwide
EasyFX is a specialist pre-paid travel card provider that offers cards to businesses for international expenses to make purchases easier and more traceable. They offer a pre-paid card that can be loaded with multiple currencies on a single card. Their cards are accepted in millions of locations around the world.
EasyFX’s cards do not charge fees on purchases, withdrawals or transfers, however, some card fees apply including charges on dormant cards, cash withdrawn over the counter, replacement and additional cards. They allow you to have as many cards as you need, and you can manage the cards from any device with easy to use controls and real-time monitoring.
Some of the features and benefits of WeSwap’s prepaid company expense cards.
- Expense card designed for overseas travel
- Helps to avoid expensive fees and commission
- Offers an app to help manage expenses
- Send money easily
- Allows you to send money to other colleagues
- Provides low fee charges
- Can be used for a wide variety of purchases
- Tag and export data for your expenses
- Fees for exchanging currencies
- Withdrawal fees apply on some transactions
WeSwap offers travel money products which include business expense cards for use overseas. Their cards offer businesses low fee charges to help them avoid expensive fees and commission on exchanging money for overseas trips.
WeSwap cards can be used for a wide range of purchases which includes flights, hotels and refreshments. You can make cash withdrawals although fees are charged for transactions under £200. The fees vary depending on how many days’ notice you give for exchanges but they range from 1-2%. They help you manage expenses and have visibility through their app which allows you to tag and export data about your transactions.
Some of the features and benefits of CaxtonFX’s prepaid company expense cards.
- Prepaid cards to simplify your expenses
- Provides a finance dashboard
- Has a smart expenses app
- Set automatic top-ups
- Seamlessly integrates with all major accountancy packages
- Simple reconciliation and reporting
- Offers as many cards as needed
- Real-time tracking
- Capture and categorise receipts through their app
- Dedicated account manager
Caxton FX is an online payment and currency card provider whose range includes prepaid corporate cards which are Mastercard cards which are widely accepted around the world. Their cards are designed to help control your business’ expenses as they provide an easy to use finance dashboard and smart expenses app to track your purchases in real-time.
CaxtonFX offers two types of prepaid business cards one offers free use and a simple monthly card fee and the other has no account fee but applies fees on transactions. Their smart app allows staff to load receipts and categorise them. You can set reminders and it integrates with all major accountancy packages.
Some of the features and benefits of Equals’ prepaid company expense cards.
- Prepaid Mastercard cards
- Multi-currency payment card
- Can load and transfer funds between cards easily
- Helps control spending
- Real-time tracking
- Upload receipts and tag transactions
- Integrates with accounting tools
- Provides an easy to use mobile app
- Allows staff to monitor their purchases
- Dedicated UK based support
Equals is a payment provider that enables individuals and businesses to transfer money, make payments, currency exchange, expenses cards and travel cards. They provide transparent pricing on prepaid cards with a simple annual card fee, card issue fee, ATM withdrawal charges and out-of-currency fee.
Equals’ expense cards are Mastercard cards which can be used internationally and can be used by staff based abroad. It offers businesses control with the ability to transfer funds easily, track expenses in real-time, upload receipts and tag transactions, block ATM use, provides a mobile app for cardholders and administrators, and it integrates with accounting tools to assist in reducing administration.
Some of the features and benefits of Yordex’s prepaid company expense cards.
- Offers dedicated expense cards
- Pre-paid and virtual cards
- Simplify processes
- Allows multiple cards
- Offers real-time control and visibility
- Integrate with smart spend software
- Manage all expenses
- Eliminate petty cash
- No chasing receipts
- No hidden fees
Yordex is an account and purchasing software and expense card provider that offers smart solutions to help businesses to manage their transactions and finances. Their expense cards are dedicated cards that can be assigned to each employee, supplier or beneficiary to assist tracking. Their cards can be either physical or virtual cards.
Yordex has designed their expense cards to help simplify your processes and they integrate with their smart spend software. Their software gives you real-time control and visibility of your card transactions. Using their cards can eliminate the need for petty cash and prevent you from chasing receipts.
9. B4B Payments
Some of the features and benefits of B4B Payments’ prepaid company expense cards.
- Offers branded and prepaid company cards
- A simple and flexible way to track expenses
- Streamline expenses onto a single platform
- Create efficiency through analysing spend
- Detailed reporting
- Real-time transaction monitoring
- Set your own spending parameters
- Contactless payments
- Secure platform
- Integrates with Sage, Concur and Xero
B4B Payments is a payment provider that offers expense management, payroll and payouts, employee incentives and perks. They offer corporate expense management that includes prepaid company cards which provides a simple and flexible way to manage and track expenses.
B4B Payments allow you to streamline your expenses by processing all your employee expenses and giving you a real-time view of their transactions with detailed reporting which can help you to analyse your spending and create efficiencies. They allow you to set your own card parameters on how and what the cards can be used for. It is a secure platform that can be integrated with Sage, Concur and Xero.
* Please note if you sign up for the Soldo, Pleo or CashPlus cards via our link we may receive a fee but this comes at no expense to you.