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Fuel Card Comparison

Find the best fuel payment method for your business

 

A fuelGenie fuel card offers many benefits over the Pay & Reclaim method of purchases. Not only does it provide greater control over spend by locking drivers down to fuel, oil and car wash purchases, it also eliminates the need for fuel expense claims and paper receipts.

Subsequently, management reporting becomes easier, transparent and more efficient. Administrative time and costs are reduced with no manual handling of receipts, a comprehensive breakdown of VAT is shown and drivers are reimbursed instantly.

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Pay & Reclaim vs fuelGenie

 

Compare fuelGenie Pay & reclaim
Control on Spend/Cost
  • Full control
  • Lock down drivers to only spend on fuel, oil or car wash.
  • Control on where they fill up
  • Cards can be assigned to: Individuals, Vehicles, or Company
  • Clarity for drivers
  • Accurate Mileage costs
  • Exact cost per mile
  • Ability to set a spend limit per employee/ card
  • Low control
  • No control over what employees purchase prior to reclaim
  • Employees have no concern as to the cost of fuel where they fill up
Management Reporting
  • Increased transparency of business expenses
  • Accurate spend and usage report
  • Gives a view on fuel efficiency of the fleet
  • No easy simple usage view – more manual.
  • Based on trust, Companies may be paying employees too much
  • Can’t track fuel efficiency
Administration Costs
  • Online reporting reduces any admin time
  • Ability to offer drivers a view of their activity to monitor their own usage – but restrictions to stop any changes or access higher level information.
  • Time spent by both employee and finance collecting, sorting, chasing, and paying claims as well as lost VAT recovery on lost receipts
  • Opportunity cost if drivers spend time on receipts rather than work
Payment
  • Instant payment/ no need to save all your receipts as invoice sent electronically
  • Leaving Employees out of pocket – they have to pay upfront and wait to reclaim/ save receipts
Convenience
  • Over 1,370 easy to find locations
  • As many cards as you like, free.
  • Although drivers may choose to fill up at motorway or service stops, this can be highly costly.
VAT
  • Shows comprehensive VAT breakdown
  • Provides an HMRC approved invoice
  • Expense claims without a receipt means some VAT is unrecoverable
  • Admin time required for VAT reclaim
Compare
fuelGenie
Pay & reclaim
Control on Spend/Cost
Full control
Low control
Lock down drivers to only spend on fuel, oil or car wash.
No control over what employees purchase prior to reclaim
Control on where they fill up
Employees have no concern as to the cost of fuel where they fill up
Cards can be assigned to: Individuals, Vehicles, or Company
Clarity for drivers
Accurate Mileage costs
Exact cost per mile
Ability to set a spend limit per employee/ card
Management Reporting
Increased transparency of business expenses
No easy simple usage view – more manual.
Accurate spend and usage report
Based on trust, Companies may be paying employees too much
Gives a view on fuel efficiency of the fleet
Can’t track fuel efficiency
Administration Costs
Online reporting reduces any admin time.
Time spent by both employee and finance collecting, sorting, chasing, and paying claims as well as lost VAT recovery on lost receipts
Ability to offer drivers a view of their activity to monitor their own usage – but restrictions to stop any changes or access higher level information.
Opportunity cost if drivers spend time on receipts rather than work
Payment
Instant payment/ no need to save all your receipts as invoice sent electronically
Leaving Employees out of pocket – they have to pay upfront and wait to reclaim/ save receipts
Convenience
Over 1,370 easy to find locations
Although drivers may choose to fill up at motorway or service stops, this can be highly costly.
As many cards as you like, free.
VAT
Shows comprehensive VAT breakdown
Expense claims without a receipt means some VAT is unrecoverable
Provides an HMRC approved invoice
Admin time required for VAT reclaim

Credit cards vs fuelGenie

Unlike credit cards, the fuelGenie card benefits from no annual charges, transaction fees, minimum monthly spend or APR rates. Additionally, a competitive credit facility is available.

Cards can be linked to either the driver or the vehicle and there is no limit to the number of cards available.

The fuelGenie fuel card can be used at over 1,370 locations and drivers can take advantage of fuel at 3p per litre lower than the national average. Credit cards can be used at motorway or service stops, but fuel is often much higher here than the national average.

With a fuel card, drivers do not need to keep credit card receipts and expenses are reimbursed instantly.

Businesses will benefit from more control over spend and costs by locking drivers down to purchases only on fuel, oil or car washes. Accurate and individual mileage costs can be made rather than taking national average ppm’s. Real-time spend can be monitored easily and efficiently, unlike credit cards that requires manual processing.

Furthermore, expense claims without a receipt makes some VAT unrecoverable, whereas a fuel card provides an HMRC approved invoice and a comprehensive VAT breakdown.

 

Credit cards vs fuelGenie

Compare
fuelGenie
Credit Cards
Charges
No Annual Charges
Annual fee
No Transaction Fees
APR rates to consider.
No Account Management Fees
Free Cards
No Minimum Monthly Spend
Competitive Payment Terms
Ease of use
Can be linked to either a driver or a vehicle with no limit to the number of cards
Requires individual signature/PIN and unlikely to be issued to each vehicle/employee with a vehicle
Savings
Access to over 1,370 easy to find locations offering fuel 3p per litre* below the national average
Drivers can choose where to fill up with motorway or service stops often very costly with some charging up to 15p per litre more than the national average**
Payment
Instant payment/ no need to save all your receipts as invoice sent electronically
Employees are out of pocket and have to fund the costs until repaid
Need to keep receipts
Control
Lock down drivers to only spend on fuel, oil or car wash and ability to set spend limit per employee/card
Lack of control. Employees can buy anything/ spend more money than necessary and open to spend on anything from chocolate and cigarettes to much larger items of spend
Can be restricted to vehicle registration number or named drivers
Reporting can cover mileage, fuel type, cost per litre and much more
VAT
Provides an HMRC approved invoice and comprehensive VAT breakdown
Expense claims without a receipt means some VAT is unrecoverable
Efficiency
Real-time spend and usage reports with bespoke reporting available
Manual process requiring the collection, sorting, chasing of receipts and lost prevent VAT being reclaimed

** Based on RAC findings as part of http://www.rac.co.uk/drive/advice/fuel-watch/

Compare fuelGenie Pay & reclaim
Control on Spend/Cost
  • Full control
  • Lock down drivers to only spend on fuel, oil or car wash.
  • Control on where they fill up
  • Cards can be assigned to: Individuals, Vehicles, or Company
  • Clarity for drivers
  • Accurate Mileage costs
  • Exact cost per mile
  • Ability to set a spend limit per employee/ card
  • Low control
  • No control over what employees purchase prior to reclaim
  • Employees have no concern as to the cost of fuel where they fill up
Management Reporting
  • Increased transparency of business expenses
  • Accurate spend and usage report
  • Gives a view on fuel efficiency of the fleet
  • No easy simple usage view – more manual.
  • Based on trust, Companies may be paying employees too much
  • Can’t track fuel efficiency
Administration Costs
  • Online reporting reduces any admin time
  • Ability to offer drivers a view of their activity to monitor their own usage – but restrictions to stop any changes or access higher level information.
  • Time spent by both employee and finance collecting, sorting, chasing, and paying claims as well as lost VAT recovery on lost receipts
  • Opportunity cost if drivers spend time on receipts rather than work
Payment
  • Instant payment/ no need to save all your receipts as invoice sent electronically
  • Leaving Employees out of pocket – they have to pay upfront and wait to reclaim/ save receipts
Convenience
  • Over 1,370 easy to find locations
  • As many cards as you like, free.
  • Although drivers may choose to fill up at motorway or service stops, this can be highly costly.
VAT
  • Shows comprehensive VAT breakdown
  • Provides an HMRC approved invoice
  • Expense claims without a receipt means some VAT is unrecoverable
  • Admin time required for VAT reclaim
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