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Qualify To Reduce Your Business Fuel Costs? Find Out Now.

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Complete our short form. It only takes a minute
Our Partners
  • CommercialExperts.com
  • Greenarc Limited Trading as Greenarc Fuel Cards
  • The Right Fuel Card Company Ltd
  • Wex Europe Services Limited
Our Products
  • Business Accountancy
  • Business Epos Systems
  • Business Telephone Systems
  • Commercial Waste Collection
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Business Fuel Cards: Everything You Need to Know

Read our quick guide to everything you need to know about UK fuel cards, how they can help your business

What Is a Fuel Card?

This is our quick guide to everything you need to know about UK fuel cards, how they can help your business, and how you can compare the best fuel cards for free. A fuel card, or fleet fuel card, is a type of payment card that is used specifically to buy fuel for your business's fleet. 

 

Just think of a fuel card exactly the same as a credit card, but it's restricted to buying fuel for business purposes. If you're thinking Fuel cards for businesses are the smarter way to pay for fuel and keep your fleet on the road, you might be right.

How Do Fuel Cards Work

You fill up your vehicle like normal, then use the fuel card to pay exactly as you would with a credit card. At the end of each billing cycle, which is typically monthly, you pay off the total amount that has been spent. Alternatively, you could also get a prepaid fuel card. This works exactly the same way but is more like a gift card, where you pre-load an amount onto the card before its use. 

 

This can help you control the amount of money being spent on fuel, which is particularly helpful if you're on a tighter budget. You'll typically be charged a monthly card fee by your provider, although this will often only be a few pounds a month. 

 

Keep in mind that some cards will be restricted for use at certain chains of petrol stations. You might incur "out-of-network" fees if you use it at a location that isn't included in this group. Fuel cards are way more than just a fancy way of paying for fuel; they can benefit your business in loads of other areas. 

Benefits of Fuel Cards
  • 1

    Save Money

    Some fuel cards can help your business save up to 10p per litre due to their ability to access fuel at a wholesale rate. 

     

    You can also place limits on how much can be spent and what can be bought. This way you can avoid any overspending or "accidental" purchases of an overpriced petrol station sandwich. 

  • 2

    Increased Security

    PIN numbers can be allocated to cards, and this information can then be shared with specific individuals on a need-to-know basis. 

     

    If cards are lost or stolen, they can easily be frozen. If they fall into the wrong hands, this can be far less damaging to your finances than if a large amount of cash or a regular company credit card is stolen. 

  • 3

    Streamlined Accounts

    Error-filled spreadsheets. Hours of admin time. Underpaying or overpaying fuel reimbursements to your drivers. All of these are now a thing of the past because you are using fuel cards. 



    To make things even better, most will come with easy-to-access, HMRC-approved invoices and templates that can be downloaded and added to your accounting systems. 

  • 4

    24/7 Access to Valuable Data

    Fuel cards produce multiple insightful reports, such as fuel usage and fuel costs, and are able to filter specifics such as driver, vehicle, and location of use.

     

    Transactions can even appear in real-time, so unlike credit or debit cards, you won't have to wait to see this payment clear. 

  • 5

    Reward Schemes

    Some cards will come with reward schemes similar to credit cards that can collect nectar points and earn gift vouchers or rebates which can be put towards further fuel savings. 

FAQs

Your Questions Answered

Often, you will have to pay a monthly card fee, similar to how some credit cards work, but this should only be a few pounds each month. 

 

Cards may come with additional fees, such as "out of service" fees, which you will have to pay if your card is assigned to specific petrol stations and you use it elsewhere, late payment fees, set up fees, and card fees.

Only businesses are eligible to apply for a fuel card; they are not available for personal use. However, your business size doesn't impact your eligibility, and you can even get one if you are self-employed.

Qualify To Reduce Your Business Fuel Costs? Find Out Now.

You could save your business £1000s

Do you already use fuel cards?
Complete our short form. It only takes a minute
Our Partners
  • CommercialExperts.com
  • Greenarc Limited Trading as Greenarc Fuel Cards
  • The Right Fuel Card Company Ltd
  • Wex Europe Services Limited
Our Products
  • Business Accountancy
  • Business Epos Systems
  • Business Telephone Systems
  • Commercial Waste Collection
  • Digital Marketing
  • Fleet Tracking
  • Invoice Finance
  • Merchant Accounts
  • Website Design
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Read more about how to save your business money
How Could a Fuel Card Benefit Your Business?

What is a Fuel Card?A fuel card, sometimes known as a fleet card, is a payment card that allows businesses to manage the fuel expenses associated with the vehicles their business uses. They are mainly used to buy fuel at petrol stations but can also be used to cover the cost of vehicle maintenance.  If you want to know more about the basics of fuel cards, read our other article to find out everything you need to know about fuel cards.  The Benefits of a Fuel CardOne of the main ones is the ability to have more control over your fuel expenses. Fuel cards offer a powerful tool for managing fuel expenses, allowing businesses to control their fuel spend and prevent unauthorised purchases of fuel.  Restricting purchases like this means you and your business can have peace of mind that your money is being used for what it's meant to be used for. Many fuel card providers also offer discounts or rebates on fuel purchases, which can help businesses save money on their overall fuel expenses.Why Does Your Business Need a Fuel Card?The benefits of fuel cards don't stop at simple cost saving, they're a gift that keeps on giving. As well as the cost benefits outlined above, fuel cards can also mean your business can benefit from increased fraud prevention (as the use of the card can be controlled with customised spending and geographic limits), data tracking tools (that can allow your business to access automated reports), and the lack of requirement for your drivers to carry cash with them. Each of these benefits would be useful in its own right, and fuel cards allow your business to benefit from all of them, meaning the overall impact of your business using a fuel card would likely be a positive one for your business as a whole. Choosing the Right Fuel Card for Your BusinessNow you've read about some of the benefits you can enjoy with a fuel card, it's time to see how one could work for your specific business. No business is the same, and the range of fuel cards available reflects this. Different types of fuel cards can be used in different ways, and choosing the one that best suits you is important.  Some of the key things to consider when choosing your fuel card include the type of vehicle in your fleet, their fuel type, and where your business is based.  If your business's fleet includes mainly HGV vehicles, you will want to consider a fuel card provider that specialises in such fleets and, likewise, you will also want to choose a specialised provider if your fleet is made up of smaller vehicles.  The fuel type should be a consideration as, if your vehicles all run on the same type of fuel, you may be able to get a cheaper rate than the one you would pay for a fuel card that allows you to buy a greater range of fuel types.  Where your business is based is also worthy of consideration as it can mean certain providers with certain deals become more viable for your business. If your fleet does lots of driving up and down the country, then a fuel card with good motorway coverage would be the best choice for your business. When deciding which type of fuel card is best for your small business, you have to consider your business's unique needs. Factors to consider include fees, repayment terms, network availability, any rebate programs, and reporting tools, if it sounds a bit complicated don't worry, we can help...