Giving your employees a credit or debit card can be quite a responsibility for them and requires you to trust them. With a prepaid business expense card, it is not as daunting as they can only spend the amount of money that you have loaded onto the card so you don’t have to worry about overspending.
Prepaid cards can also help you to manage your business expenses better with online management software to monitor spending and run reports, tag purchases and attach receipts. These are some of the prepaid business expense cards available.
Companies are ranked in no particular order.
|Monthly price per card
|Tide Expense Cards**
|Card One Money*
|Included in the current account fee
|Visa or Mastercard
|Included in the current account fee
|£50 annual platform fee
Soldo offers businesses the following features:
- Offers 3 prepaid card plans
- Provides a free plan for a single card and paid plans from £6 per card per month
- Individual cards connected to a shared account
- Intuitive integrated app
- Enables you to manage spending and expenses better
- Offers physical and virtual cards
- Fee applies per card
- The Premium account provides advanced controls and reporting
- No monthly fee on your 1st virtual card for 12 months
- Capture receipts on the mobile app
- Choose between individual or company, virtual or plastic cards Tooltip
- On-the-spot receipt capture
- Xero, Sage, Exact Online and QuickBooks integrations, plus accountant access for reporting
- Allocate dedicated funds to users and set spending limits Tooltip
- Virtual cards for ad hoc purchases and recurring payments Tooltip
- Google Pay and Apple Pay
- Standard approval workflows
- Advanced card rules to control spend
- Review and approve expenses Tooltip
- Multi-currency: GBP, USD, and EUR
- Customisable roles and permissions Tooltip
- Auto classify transactions Tooltip
- Custom multi-level approval workflows Tooltip
- Organise your company in teams or departments using groups Tooltip
- Advanced reporting Tooltip
- Out-of-pocket expenses Tooltip
- Set up spending policy limits Tooltip
- Dedicated account manager and customer success manager
- Custom onboarding and training
- Dedicated support for custom integrations using APIs
Review: Soldo Review
Pleo offers businesses the following features:
- Prepaid Mastercard
- Free for up to 5 users, paid plan starts at £10 per person per month
- Issue card with individual limits with a click
- Automate expenses
- Overview of company expenses
- Track purchases in real-time
- Manage cards allowing you to disable and enable cards instantly
- Capture and match receipts
- Automatic categorisation of purchases
- Integrates with accounting tools
- Pleo employee cards (plastic/virtual)
- Real-time expense tracking
- Automated expense reports
- Manage & pay invoices
- Xero and more accounting system integrations
- Apple Pay & Google Pay
- 1 % cashback (for eligible customers)
- Spending limits per user or purchase
- Spend analytics dashboard
- Review spend per team
- Reimburse employees with or without Pleo cards
- Reimburse cash expenses and mileage
- Track subscriptions and other recurring payments
- Live chat support
- Control recurring payments with Vendor cards
- Open API access
- Single sign-on with SAML
- Chat, email and phone support
- Assisted onboarding session
- Dedicated Customer Success Manager
Payhawk offers businesses the following features:
- Provides smart Visa company cards
- Physical and virtual credit and debit cards
- Suitable for teams or individuals
- Allows you to manage spending limits
- You can set approval flows and agree fund requests through the app
- Offers account automation
- Allows you to see outstanding expenses
- Can make international payments
- Monitor spend in real-time
- Offers a demo of their expense software
- One-click card issuance and card freezing
- Up to 6x better exchange rates than banks
- EUR and GBP accounts
- Apple Pay
- Google Pay
- Local invoice payments and reimbursements
- Pre-accounting OCR in 60+ languages
- Free transfers within SEPA and the UK
- Smart inbox for receipts attachment
- Bulk payments with ‘four eyes’ approval
- Supplier management
- Out-of-pocket cash management for employees without cards
- International invoice payments and reimbursements
- Group spend dashboard and workflows
- ERP integration to NetSuite, and Microsoft Dynamics
- Single sign-on with SAML
- Customer Success Specialist
- Online onboarding session
- Success-based onboarding flow
Klippa offers businesses the following features:
- Submit through app, website and e-mail
- The best OCR technology of Europe
- Storage in the cloud
- Use of categories, cost centers, cost units & projects
- Reimburse travel expenses with the Google Maps integration
- Approvals on web & app through digital workflows – From €50 per month
- Implementation of expense policy via advanced business rules
- Personal support via chat, e-mail and phone
- Integration with standard bookkeeping system – From €50 per month
- Automatic fraud detection
- Dedicated account manager
- Automatic VAT reclaim
- Match credit card statements automatically
- Custom connections and access to the Klippa API
- User sync, Single sign-on and/or 2FA
- In-app company logo
- Custom SLA
Website: Klippa Expense Cards
5. Wallester Business
Wallester Business offers businesses the following features:
- 300 virtual cards for FREE
- Top up with zero commission
- Instant issuance of an unlimited amount of cards
- No card issuance fee, no card service fee
- European BINs works perfectly with facebook, google, etc.
- User-friendly app that allows you to monitor expenses, approve transactions and generate reports on the go.
- Provides an API
- Possibility to purchase a personal BIN
- Fast registration and standard KYC, approval within 24h
- Detailed reporting and analytics to track all transactions
- Customer Success manager
- Onboarding assistance
- Custom contracts and better rates
- 24/7 priority support
- Dedicated account manager
- Open developer APIs
Website: Wallester Business
Tide Expense Cards offers businesses the following features:
- Requires a free Tide Business account
- Just £5+VAT per card per month
- Ability to get free cards depending on banking plan
- Your team can scan and upload multiple receipts at once
- Ability to set individual spend limits per card to help control costs
- See all transactions itemised by both person and spend category
- App lets you freeze and cancel cards
- Auto-match receipts to transactions
- Easily Sync with your accounting software
- Transfers in & out – Unlimited
- ATM withdrawals
- Read access for team members
- Scheduled payments
- Accounting integrations – Quickbooks, Xero, Sage and more
- Multi-business – hold up to 5 business accounts
- Create and send invoices for free
- Priority in-app support
- Phone support
- 24/7 legal helpline
- Exclusive member perks
- Support with trademark filing and disputes
- Dedicated team of account managers
- 0.5% cashback with your Tide card
7. Card One Money
Card One Money Expense Card offers businesses the following features:
- Current account with a prepaid business card with a monthly fee of £12.50
- Can add up to 4 additional cards at £5 per person
- No purchase transaction charges
- Online account management
- Accepted in over 35 million worldwide locations
- Cards can be used abroad but transaction charges apply
- ATM cash withdrawal charges at £1.50
- No overdraft facility
- Apply online in less than 10 minutes
- No credit checks
- Four additional cards for business use
- Online and mobile account with 24/7 access
- Manage Direct Debits and standing orders
- Instant domestic payments
- Manage and pay bills, invoices, wages and more
- International payments in a range of currencies
- Full control over permissions, balances and cards
- Export statements for your accounting software
- Receive free text alerts whenever bills are paid
- Load cards directly online or through the app
- View statements and monitor business spending
- Use fast balance to quickly check your account
- Pay cheques in at any Barclays branch
- Prepaid cards that can pull from your balance
- Your own dedicated account manager
- Send payments in bulk
- Set up multi-level approvals for payments
- Open banking API integration
- Multi-account view for all your brands
Expend offers businesses the following features:
- First 30 days free
- Free Expend Mastercard (optional) with budget controls
- Intuitive mobile app with instant notifications
- Manage petty cash, out-of-pocket expense claims and third party cards
- Mileage tracking with automatic VAT calculation
- Expend Extract – instant data extraction from receipts
- Organise employees into Teams for easier expense approvals
- ‘Approve on the Move’ reviewing employee expenses in the mobile app
- Auto-chase missing expense receipts
- Invoice management with automated document collection
- Real-time insight and analytics of company wide spending
- Invite your accountant to view company wide spending for reporting purposes
- Securely sync expense data to your accounting software
- Live chat, email and phone support
- No credit checks
- Unlimited users
- 0% FX for Expend card users
- Dedicated Account Manager and Customer Success Manager
- Personalised on-boarding sessions and 121 training available
Website: Expend Website
Juni offers businesses the following features:
- Offers business expense cards for ecommerce
- Gives 1% cashback
- Provides physical and virtual cards
- Offers cards in GBP, USD and EUR
- Free ATM withdrawals on Visa cards
- Integrates with global banks and payment gateways
- FX fees capped at 0.25%
- Offers credit limit up to £2 million with up to 60 day payment terms
- Track all your funds through the integrated platform
- Custom terms on cashback and capital
- Custom number of cards, accounts and users
- Dedicated account managers
- Multi-entity management (coming soon)
Amaiz offers businesses the following features:
- Business current account with a prepaid card
- Hassle-free setup
- Manage your card in the app
- Single card included as standard with the account with a monthly fee starting at £4.99
- Corporate accounts allow up to 3 cards
- ATM cash withdrawal fee of 2%
- Provides live customer support
- Includes receipt management
- Apply online
11. B4B Payments
B4B Payments offers businesses the following features:
- Prepaid Mastercard
- Offers branded cards
- Allows real-time monitoring of spend
- Simplify and streamline expense management processes
- Access to a digital management platform
- Detailed reporting
- Track all expenditure
- Set spending parameters
- Integration with Sage, Concur and Xero
- Doesn’t state the cost of the card
Cashplus offers businesses the following features:
- Offers business expense cards
- Quick and simple to set up
- One annual fee for all cards (not stated)
- Individual limits on each card
- Track spending in real-time
- Offers up to 20 additional cards
- Deposit money through electronic transfer
- Allows better expense reporting
- Integrates with accountancy software
- Currently offer free additional cards
- Card issuing fee-Contactless Mastercard
- Payments & transfers-Sending money
- Payments & transfers-Receiving money
- Cash deposits-At any UK Post Office*
- UK ATM withdrawals-Terms apply*
- ATM withdrawals abroad-Terms apply*
- Additional cards-Up to 20 cards
- Cashback-On your card spend**
- Creditbuilder-Improve your credit score
- Accounting integrations-Inc. Xero, Quickbooks & Sage
- Create invoices-To make payments easier
- Spending reports-Categorise spending automatically
- Export statements-PDF or CSV format
- UK phone support-Liverpool based
Caxton offers businesses the following features:
- Two prepaid Mastercards
- Card fees of £0 or £4 per month
- Offers 3 month free trial
- Track spending in real-time
- Set individual limits
- Choice of Sterling or Global cards
- Manage cards on the app including block cards, approve expenses and top-up cards
- Automatic top-ups
- Integrates with accounting systems
- Automation of expense reports
EasyFX offers businesses the following features:
- Corporate prepaid currency card
- Offers zero fees on purchases, ATM withdrawals and transfers
- Stores multiple currencies on one card
- Manage funds in real-time
- Access software from any device
- Unlimited number of cards
- Reduce spending abroad using a foreign currency card
- Easy management including the ability to block cards
- Can be used at over 35 million locations and 2 million ATMs
- No pricing information is available
Equals Expense Card offers businesses the following features:
- International prepaid expense card that can be used in 190 countries
- Low rates for international transactions
- Track and control spending
- Single annual platform fee of £50
- Customise access permissions for users
- Manage cards including top ups, add users and block withdrawals
- Produce expense reports
- Integrate with accounting tools
- Expert account manager
- Earn at least 3.5% cashback at some high street brands
WeSwap Expense Card offers businesses the following features:
- Expense card designed for use abroad
- No card fees, 2.49% fee for currency swaps
- Avoid expensive fees and commission
- Contactless Mastercard
- Works in over 180 countries
- Store money in 33 currencies in digital wallets
- Easy to load from your bank account
- Tag expenses in the app
- Free cash withdrawals under £200 per month, then a 2% fee
- Send money to colleagues through the WeSwap account
Yordex offers businesses the following features:
- Prepaid Visa card
- Physical and virtual cards are available
- Branded cards available
- Prices start at £3 per card per month
- Offers tailored solutions
- Full control and visibility
- Automatically chase cardholders for receipts
- Available in GBP, EUR and USD
- Cards are delivered within 5 working days
- Offers a trial period followed by 12 month contract
Airwallex offers businesses the following features:
- Offers virtual employee and expense cards
- Multi-currency cards
- Create cards for each expense category or subscription
- Can be created in minutes
- Track spend in real-time
- Zero international card transaction fees
- Get better FX rates
- Hold multi-currency wallets
- Auto-convert at best FX rates to save money
- Reduce administration from chasing receipts
Spendesk offers businesses the following features:
- Provides smart company cards
- Offers physical and virtual cards
- Connects with smart, trackable software
- Adjustable budgets
- Built-in spending rules
- Combines with a mobile app
- Offers subscription cards to manage recurring spend
- Collect and submit receipts automatically through the app
- Track spend in real-time
- Offers a demo of their software
Jeeves offers businesses the following features:
- Offers an all-in-one expense management platform
- Corporate cards that earn 4% cashback
- Can provide currency of your choice within 24 hours
- No FX fees
- Free unlimited cards
- Offer higher limits
- Suitable for international travel and businesses with international locations
- Provides flexible financing
- Allows you to track spend and gain insight
- Provides 24/7 premium support
Silverbird offers businesses the following features:
- Offers a global account with local details
- Supports over 30 currencies
- Enables easy payments all over the world
- Hold, send and receive multi-currencies
- Open your account online
- Manage your account online
- Transparent FX rates
- Suitable for small to large businesses
- Provides specialist international trade support
- Support by chatbot and virtual assistants
Website Silverbird Business Bank Account
Intergiro offers businesses the following features:
- Offers online business banking
- Multi-currency IBANs
- Hold and receive funds in eight currencies
- Provides live FX conversion rates
- Offers SWIFT and local payment networks
- Save money when sending money abroad
- Can open an account in seconds online
- Transparent transaction costs
- Suitable for small and scaling businesses
- Also offers payment management, cards and merchant services
Website Intergiro Business Bank Account
GoSolo offers businesses the following features:
- Provides online business bank accounts
- Designed for small businesses
- Includes a Mastercard debit
- Manage online and on mobile app
- Track spending
- Save for taxes
- Receive payments faster through FPS
- App available on iOS and Android
- Apply online within minutes
- Not all bank account features are currently available, check for the latest features
- GBP Business Account (Sort Code & Account Number)
- Physical MasterCard Debit Card
- Payments in and out in GBP
- Multi Business – Add multiple companies
- Multi User – Add users with read only access
- 24/7 Access via Web & Mobile apps
- Model Articles of Association
- Model Shareholders Agreement
- UK Registered Company Address (for official use)
- UK Virtual office location – for trade and business post
- Mail Scanning
- Online portal to manage mail and address
- Partner Perks and Offers worth over £ 20 000
- 1 on 1 Personalised Advice
- UK issued proof of personal address (Utility Bill, Bank Account Statement, Council Tax)
Website GoSolo Business Bank Account
24. 3S Money
3S Money offers businesses the following features:
- Offers a multi-currency business bank account
- Works in over 190 countries
- Transacts in over 40 currencies
- Caters for businesses of all sizes and structures
- Provides local IBANs for certain countries
- Pay between multiple local and international accounts
- Intuitive interface
- Available to non-residents
- Provides you with your own Client Manager
- Onboarding fees apply
Website 3S Money Business Bank Account
* Please note we have affiliate arrangements with Soldo, Pleo, Payhawk, Klippa, Tide, Wallester, Card One Money Expend and Juni.
Other Expense Card Platforms
- Zoho Expense
- Mobile Expense
- Expense On Demand
- Capture Expense
What are the types and benefits of business expense cards?
Business expense cards, often referred to as corporate cards or company cards, are payment cards issued to employees to pay for authorized business expenses.
These cards are tools designed to simplify the management of company expenditures, streamline the process of purchasing goods and services for business purposes, and enhance the efficiency of expense reporting and reimbursement.
Here are key features and benefits associated with business expense cards:
Types of Business Expense Cards
Credit Cards: Operate on a credit basis, with expenses charged to the card needing to be paid off in subsequent billing cycles.
Debit Cards: Linked directly to a company’s bank account, with transactions immediately deducted from the account’s balance.
Prepaid Cards: Loaded with a set amount of funds in advance. Employees can only spend what is on the card, offering tighter control over expenditures.
Charge Cards: Require the balance to be paid in full at the end of each billing cycle, but often do not have a pre-set spending limit.
Pre-set Spending Limits: Employers can set limits on the amount that can be spent, as well as restrict the types of merchants or categories where the card can be used.
Real-time Tracking and Reporting: Many business expense card programs come with software or online platforms that allow for real-time tracking of expenses, categorization of spending, and generation of reports.
Integration with Accounting Software: Transactions can often be automatically imported into a company’s accounting software, simplifying the reconciliation process and reducing manual entry.
Policy Compliance: Cards can be configured to enforce company spending policies automatically, reducing the risk of unauthorized or fraudulent transactions.
Simplified Expense Management: Reduces the need for employees to use personal funds for business expenses and submit reimbursement claims.
Enhanced Control Over Spending: Gives companies more direct control over how, when, and where employees can spend company money.
Improved Visibility and Accountability: Provides detailed insights into spending patterns, helping businesses to budget more effectively and identify potential savings.
Increased Efficiency: Streamlines the process of expense approval, reporting, and reconciliation, saving time and administrative costs.
When implementing business expense cards, companies should consider the following:
Policy Development: It’s important to establish clear guidelines and policies regarding the use of expense cards, including allowable expenses, spending limits, and the process for reviewing transactions.
Employee Training: Employees should be trained on how to use the cards responsibly and in accordance with company policies.
Security Measures: Companies should ensure that appropriate security measures are in place to protect against misuse or fraud, including the ability to quickly freeze or cancel cards that are lost, stolen, or being misused.
How do prepaid business expense credit cards work?
Prepaid business expense credit cards are a spending solution that allows you to provide your employees with a card for making purchases without worrying about how much they spend as they can only spend what you have loaded onto the card.
You can allocate a prepaid card to an individual or team/department and load the card with the amount of money you are comfortable them having on the card and then you can generally monitor the card online or through an app.
You can easily top up the card by transferring funds onto the card instantly when needed.
Many prepaid cards also provide online software that allows you to export data or run reports, tag purchases and add receipts to make expenses easier to manage and can help you to save time on expense management.
How much money can I put on them?
The majority of prepaid card providers don’t state a limit on the amount you can load onto an individual card but as you can load funds at any time this shouldn’t restrict your spending as long as you monitor the balance and top it up.
How much will a prepaid business expense card cost?
The cost of prepaid cards varies depending on the provider and the number of cards you have. There are several business current accounts that offer a prepaid card as part of their account at no extra fee.
Other providers offer the prepaid card for free for a single card or a small number of users. Another charge for platform access rather than a card fee.
It is also worth bearing in mind how you are going to use your card as there may be additional fees for some transactions such as cash withdrawals or international purchases which vary depending on the provider.
How to apply for a prepaid business expense card?
Most prepaid card providers allow you to apply online for a business prepaid card account and you can often easily add further cards through your online account.
As the card is a prepayment card and not a credit card, there aren’t as many checks that need to take place to approve your account so it can be set up more quickly as well.
What are the differences between prepaid expense cards and expense management software?
Prepaid expense cards and expense management software each serve a distinct role in the financial management of a company, and they can be used independently or together to enhance financial control and efficiency.
Here are the key differences between them:
Prepaid Expense Cards
Definition: Prepaid expense cards are physical or virtual payment cards that are preloaded with funds by the employer. Employees can use these cards to make authorized business purchases.
Control Over Spending: Employers can control spending by setting limits on the amount that can be spent, the types of merchants where the card can be used, and even the time when purchases can be made.
Immediate Expense Loading: Funds can be added to the cards in real time, allowing for immediate access to money when necessary.
Reduces Need for Reimbursements: Since the expenses are made directly from the funds provided by the employer, the need for employees to outlay personal funds and then seek reimbursements is reduced.
Expense Management Software
Definition: Expense management software is a digital platform that helps businesses track, approve, and process employee expenses. It can be used to manage receipts, generate expense reports, and ensure compliance with company policies.
Comprehensive Financial Management: This software offers a broad range of features beyond just handling expenses, including budgeting, analytics, and integration with accounting software.
Policy Enforcement: The software can automatically enforce company expense policies by validating expense submissions against set rules and alerting managers to any violations.
Streamlines Reimbursement Process: For expenses not made on prepaid cards, the software can streamline the reimbursement process by automating approval workflows and integrating with payroll systems to expedite payments.
Integration and Synergy
Combined Use for Enhanced Management: Many businesses use both prepaid expense cards and expense management software in tandem. The expense cards provide a way to control spending at the point of sale, while the software offers a back-end solution for tracking, analyzing, and reporting expenses.
Data Integration: Expense transactions from prepaid cards can often be automatically imported into expense management software, reducing manual data entry and improving accuracy.
Prepaid expense cards offer a direct way to control and manage employee spending in real-time, while expense management software provides a comprehensive platform for tracking, analysing, and processing all employee expenses.
Depending on a company’s specific needs, using both in conjunction can offer a robust solution for expense management.
Can I use my personal card for business expenses?
In the UK, as in many other countries, you can use your personal credit or debit card for business expenses, but it’s important to understand the implications and best practices when doing so.
Here are several key points to consider:
Separation of Expenses: HM Revenue & Customs (HMRC) requires a clear separation between personal and business expenses for tax purposes. Using a personal card for business expenses means you must be diligent about keeping detailed records to distinguish between personal and business spending.
Claimable Expenses: Business expenses charged to a personal card can still be claimed as deductions against your business income, provided they are wholly and exclusively for the purposes of the business.
Detailed Records: It’s essential to keep detailed records of all business transactions, including receipts and invoices, to support your expense claims. This documentation is necessary for both tax filing and in case of an HMRC audit.
Reimbursement Process: If you’re an employee using a personal card for business expenses, ensure there’s a clear reimbursement process in place with your employer to recover your funds in a timely manner.
Cash Flow Management: Using a personal card for business expenses might affect your personal cash flow, especially if reimbursements from your business or employer are delayed.
Credit Implications: Business expenses on a personal card can also impact your credit utilization ratio, which may affect your personal credit score.
Business Credit Cards: Consider obtaining a business credit card. This helps separate personal and business finances, simplifies record-keeping, and may offer additional benefits like cash back or travel rewards on business spending.
Expense Management Tools: Utilizing expense management tools or software can help track and categorize expenses more efficiently, whether they’re from personal or business cards.
Policy Guidelines: If you’re an employee, check your company’s expense policy to ensure that using your personal card for business expenses is allowed and understand the process for submitting and reimbursing these expenses.
Consult a Professional: It might be beneficial to consult with an accountant or financial advisor to understand the full implications of using a personal card for business expenses, especially regarding tax liabilities and deductions.
While you can use your personal card for business expenses in the UK, it’s important to manage this approach carefully to ensure compliance with tax laws, maintain clear financial records, and manage personal and business finances effectively.