With a number of different fuel cards available to businesses in the UK, it’s very important to make the right choice for your company.
- Comparing fuel cards for UK businesses
- What to consider when comparing fuel cards
- More about choosing fuel cards
Comparing fuel cards for UK businesses
You might think that all fuel cards are much of a muchness, but in fact the very opposite is true. The various options available are suited to different businesses, fleet sizes, vehicle types and fuel considerations.
What to consider when comparing fuel cards
When looking at different fuel cards, there are a number of key factors to investigate:
- Costs of fuel
- Fuel card fees
- Administration and management
- Financial reporting
- Credit period
Costs of fuel
Supermarket petrol stations are on average over 3 pence per litre cheaper than the national average, which is why the fuelGenie fuel card focuses exclusively on these. By consistently directing drivers to lower cost petrol stations, businesses using fuelGenie can benefit from the lower pump price and keep fuel expenditure down.
Other cards may focus on a particular brand or chain of fuelling stations. The amount spent on fuel will vary, being dependent on the rises and falls in pricing at these different companies. Fuel prices also vary by region and location – motorway service stations tend to charge higher rates than in towns and cities.
Fuel card fees
Many UK fuel cards charge a fee to companies for using them. These charges are on top of the costs of the fuel itself, which naturally varies depending on the companies and forecourts where the fuel cards can be used.
Additional fees charged by fuel card companies can include:
- Annual card charge
- Network service fee
- Replacement card charge
- Convenience charge
- Change of details fee
- Invoicing fee
- Direct debit administration fee
- Risk-based fee
For more details on these fees, visit fuel cards with no fees.
Unlike many UK fuel cards, fuelGenie charges no annual membership fee, no network service fee and no replacement card charge. In fact, the fuelGenie card is completely free to own and use normally, regardless of how many drivers and cards are required.
Administration and management
One of the key benefits of using a good fuel card is that it should make the process of administering and managing expenditure simple. fuelGenie includes a 24/7 online dashboard for keeping track of expenses, setting credit limits and viewing invoices.
Even in a fleet of only one driver, it can be tricky to keep hold of every single receipt and get it to finance on time, every time, for reporting and accounts. As the number of drivers, trips and refuelling stops grows, relying on paper receipts becomes impractical and a real drag on business efficiency.
Businesses using the fuelGenie fuel card benefit from automatically generated, HMRC-approved invoices with a comprehensive VAT breakdown, all accessible online.
Fuel cards vary in the length of time allowed for businesses to repay the fuel charges built up by using the card. Some may offer a credit period of 30 days or even shorter. fuelGenie allows up to 45 days, offering cash flow benefits.
Choose fuelGenie for your UK fuel cards
fuelGenie is designed to help UK businesses manage their fuel expenditure both efficiently and cost-effectively. The low-cost fuel, lack of fees and long credit period make it economical and cash-flow friendly. Meanwhile, the online dashboard and HMRC-approved invoices make administration and operations a piece of cake.