Soldo Prepaid Business Card

ATM Fee

£0

Card Fee

£0

Monthly Fee

From £5

Transaction Fee

£0

Soldo Mastercard® cards have no fees for domestic transactions and our foreign exchange fee is fixed at just 1%. It's free to add funds, and money is available to spend instantly. Allocate funds to cards when your team needs it.

Pleo Prepaid Business Card

ATM Fee

£4

Card Fee

Free

Monthly Fee

From £6

Transaction Fee

Free

Quick onboarding - Use your current bank and get going in a matter of minutes. Load your Pleo wallet and Pleo cards fast, with no fees.

Equals Money Prepaid Business Card

ATM Fee

£1.50

Card Fee

£10

Monthly Fee

£0 (£50 annual fee)

Transaction Fee

Free

Order unlimited prepaid cards for your team to use in over 190 countries. Add new users in a few clicks and get your cards delivered within 5 working days. Customise access permissions for individual users depending on their role and responsibilities.

Annual platform fee and other fees apply.

Card One Money Business Account

ATM Fee

£1.50 per withdrawal

Card Fee

£5 for additional cards

Monthly Fee

£12.50 (3 months free with Finance.co.uk). £55 application fee.

Transaction Fee

Free

No monthly fee for the first three months when you apply through Finance.co.uk. Application Fee £55 (refundable if we can't approve you for any reason. Terms apply). Cashback rewards. Earn cash rewards of up to 8% at more than 35 major retailers.

Open your business account within 4 hours. No credit checks. Online account. UK registered business only. Primary account holder must be at least 18 years of age. Business owner/ UK residents only.

Acorn Account Small Business Account

ATM Fee

£1.50

Card Fee

Free

Monthly Fee

£12.50

Transaction Fee

Free

There is an application fee of £60, which includes your first Giro book.

There is a minimum monthly fee of £12.50 which is debited from your account on the 1st of every month. Other charges apply. You can add up to 4 additional people to the account at any time for free.

Reveal the next 5 top deals

You put lots of effort into planning your budget carefully to ensure your business is never starved of cashflow. Yet somehow, you’re still running into cash crunches every now and then. This might be a high time to sign up for a pre-paid business card.

What are Pre Paid Business Expense Cards?

A prepaid business card can be described as a credit card that only lets you spend money you currently have. You typically load it up with a pre-determined account according to your budget, although some cards draw funds from a checking account. Either way, you use the card to pay for purchases as you would with standard credit cards. You can also access your cash at ATMS.

Ultimate Control Over Business Finance

With a prepaid business card, you’re able to fulfill all your obligations without running the risk of ruining your finances. You allocate budgets and monitor every payment your employees make, ensuring every expense goes into profiting the company. And because you’re not running up any debt, your credit score doesn’t suffer at all.

Free Business Banking

Some prepaid card platforms offer banking services as part of the package. On that note, it’s time to look at the best prepaid cards available today.

Why Would You Want a Prepaid Business Card?

Besides control over your finances, there are other good reasons to get a prepaid card:

– Most platforms don’t require credit checks, which means you can apply even if you have a less-than-stellar history.

– Moreover, some cards offer a credit rebuild program. This helps you better your scores over time, thus opening up an opportunity for a wider range of financial products in future.

– Cards bundled with expense management tools allow for easier accounting.

Why Would You Want a Prepaid Business Card?

Besides control over your finances, there are other good reasons to get a prepaid card:

– Most platforms don’t require credit checks, which means you can apply even if you have a less-than-stellar history.

– Moreover, some cards offer a credit rebuild program. This helps you better your scores over time, thus opening up an opportunity for a wider range of financial products in future.

– Cards bundled with expense management tools allow for easier accounting.

Are Prepaid Cards Expensive?

No, far from it. The costs of operating your card should be fairly reasonable — as long as you compare fees carefully when choosing your provider. Pay attention to all the fees levied (setup, transactions, withdrawal, debit). Also note that some platforms charge inactivity fees if your card goes dormant for too long.

Do Prepaid Cards Provide Loans?

No. As highlighted before, a prepaid cards allows you to spend only as much as you load up. You cannot borrow in any way (no overdrafts, and certainly no business loan).

Should You Maintain Your Business Bank Accounts After Getting a Prepaid Card?

Of course. You’ll still want the full range of services that traditional banks provide.

What Else Do You Need to Keep in Mind?

Every prepaid card platform we’ve covered utilizes the latest security measures, but you still have a responsibility here as the cardholder. Ensure each card is accessible only to authorized individuals. Lost cards must be brought to the attention of the provider as soon as possible.

No, far from it. The costs of operating your card should be fairly reasonable — as long as you compare fees carefully when choosing your provider. Pay attention to all the fees levied (setup, transactions, withdrawal, debit). Also note that some platforms charge inactivity fees if your card goes dormant for too long.

Do Prepaid Cards Provide Loans?

No. As highlighted before, a prepaid cards allows you to spend only as much as you load up. You cannot borrow in any way (no overdrafts, and certainly no business loan).

Should You Maintain Your Business Bank Accounts After Getting a Prepaid Card?

Of course. You’ll still want the full range of services that traditional business bank accounts provide.

What Else Do You Need to Keep in Mind?

Every prepaid card platform we’ve covered utilizes the latest security measures, but you still have a responsibility here as the cardholder. Ensure each card is accessible only to authorized individuals. Lost cards must be brought to the attention of the provider as soon as possible.

Brands Of Pre Paid Business Cards

Equals Spend Card

Fees: £10 setup fee per card; 1.5% charge on some foreign-currency transactions; £1.50 international ATM charge

Equals Spend takes away the stress of allocating your budget by providing prepaid Mastercards to your entire team. You can set spending limits for everyone, although there’s an option to transfer funds across cards if necessary. Receipts can be uploaded via the mobile app to eliminate any concerns over accountability.

Soldo

Fees: £5 and £9 per card every month on Soldo Pro/Premium respectively; £1 for every local ATM withdrawal and £2 for international withdrawals; £6 for European funds transfers and £16 elsewhere

Soldo’s platform lets you provide pre paid business cards to any individual/department that needs them. You set limits for every card, along with rules on how the money should be spent. Meanwhile, a shared expense platform coupled with intuitive apps let you keep track of your business expenses from one central hub. You can also generate custom reports and statements to see how much has been spent during any particular time frame.

Expend.io

Fees: £5 setup and delivery charge; £5 replacement fee if card is lost.

Part of an integrated expense management platform, Expend’s prepaid Mastercard will give you ultimate flexibility and control over your finances. It lets you assign virtual cards to your staff and set budgets for everyone. With a multi-user web dashboard and mobile app, you’re able to maintain accountability without having to track every expense.

Highlights

– No credit checks

– Free unlimited transactions

Cashplus Prepaid Business MasterCard

Fees: £69 annual charge; £2/3 for local/international ATM withdrawals respectively; 2.99% foreign transaction fee. Everything else is free.

No need to worry about your credit rating with Cashplus’s Prepaid Mastercard — it’s available for any business with a verifiable name and address. You just need to open a Cashplus Business Current Account to qualify. The card keeps you in control of your expenditure by limiting your spend to what you debit. You can also manage your cards and reconcile your expenses at any time using the mobile app or website.

Caxton FX Prepaid Corporate Card

Fees: £1.50 per point-of-sale transaction, ditto for local ATM withdrawals. No card issue fee or annual charge.

If you have a globetrotting workforce, Caxton’s Prepaid Corporate Card should come in handy. It lets you hold monies in different currencies on the same card, eliminating any worries about local exchange rates when spending abroad. There’s an expense management dashboard along with a mobile app to set budgets and approve spending on an individual basis.

FairFX Everywhere Prepaid Card

Fees: £9.95 card issue fee (free if you debit £50 immediately); 1.4% charge for withdrawals and purchases. No ongoing monthly fee.

Enjoy hassle-free transactions with FairFX’s Everywhere Prepaid Card. It lets you make payments to suppliers, employees and contractors both locally and abroad. You can manage the card via the mobile app or website, allocating budgets and setting spending limits on either platform. FairFX also provide the ability to limit the spending period for better control over your cashflow.

Suits Me

Fees: £59.64 Annual charge; £9.97 for first debit

Twenty minutes is all you need to set up your Suits Me contactless Visa card. Load it up via bank transfer or at any PayPoint outlet. Earn cashbacks from Suits Me’s partners whenever you use your card. A mobile app coupled with text and email alerts will let you keep track of everything.

Other Highlights:

– No credit check required

– Free setup and unlimited local transactions

CardOne Money

Fees: Free application and local transactions; £5 for every additional card; £1.50 per local ATM withdrawal; £150 annual administration fee.

CardOne Money’s Prepaid Corporate Mastercard is available for all Business Account holders. Tailored specifically for small entities, it lets you manage your funds from whenever using your phone (app and text alerts) or the web. Debits can be made via a bank transfer or from any post office. Other benefits include the ability to set up standing orders, and order up to 4 additional cards.

Revolut Business

Fees: Free setup (excluding delivery); Free ATM withdrawals for up to £200 locally (2% charge for international withdrawals). No ongoing administration

Open a Revolut Business Account and apply for as many cards as your team needs. You’re allowed up to two corporate cards per user, but you can issue virtual cards using your account as well. Mobile apps are available for all major platforms to let you review expenses with ease. Balances can be transferred across 29 currencies at a flat rate — a boon if you handle lots of international transactions.

 

More Business Options

We compare a range of business products to help you find the right business bank accounts, expense account, prepaid business card or bridging loan for your company.