If you are new to fuel cards, or you’re just looking for a refresher, this is the right place to start. Here you will find essential information to help you kick start your fuel card search.
What is a fuel card?
Fuel cards are one of best way to pay for your business fuel. They look like credit cards and work in a similar way, allowing you to buy fuel and charge it in a settled account, however all purchases are interest-free.
Fuel cards offer different pricing solutions, depending on what you require. Some fuel cards let you pay a fixed price which is calculated weekly, while others charge you the price displayed on the pump.
How can a fuel card help my business?
If you operate a fleet, you’ll be familiar with the impact that fuel management have on operating costs. Payment methods such as credit cards and petty cash are commonly used to buy business fuel, but they often come with endless administration and can only provide limited information about your fuel usage.
The main benefits of fuel cards are:
Online reports for every fuel card, with information about date, time and place of each purchase. Increase control and reduce admin time.
HMRC pre-approved single invoices. Claim back VAT easily and wave goodbye to the worry of lost receipts.
Minimise fraud risk with chip & PIN protected payments.
Fixed weekly pricing on certain products, allows you to know exactly what you’ll pay, regardless of what the pump price displays. Fixed prices are closely linked to the wholesale fuel market, which means it often leads to a saving versus the pump price.
How do I find the right fuel card for me?
There is no a “one size fits all” solution when it comes to fuel cards, it really depends on what your needs and priorities are. To help our customers find the right solution, we look at:
Location: It’s important to know what sites are located in your proximity, especially if your vehicles stick to the same routes or only use a handful of sites in scheduled locations.
Route: If your vehicles travel long distances or change route frequently, the last thing you want is driving out of your way to find sites that accept your fuel card. If so, a multi-branded network will give you the freedom of filling up at a greater number of sites around the UK.
Vehicles: The type and number of vehicles means different requirements for your fleets. For instance, HGVs can only access certain filling site that have truck friendly facilities (such as higher canopies and dedicated parking). If you run a HGVs fleet, it’s important that these filling sites are included in your network. Fleets running on diesel can also take advantage of competitive weekly fixed prices based on wholesale rates.
Pricing: Some fuel cards let you pay a fixed weekly price to purchase diesel, which is usually cheaper than pump prices. Fixed price fuel cards can be a cost-effective solution especially if you buy high amount of fuel and you’re looking to reduce your expenses. Pump price fuel cards are hassle-free and very easy to use, giving you excellent network coverage.