If you’re running a small business with a fleet, then you’ll be looking to make savings and efficiencies wherever possible. Fuel cards are just one tool you can use to do this, from making it easier for your drivers to purchase fuel to giving you complete visibility over your purchasing and helping you reclaim your fuel VAT more easily.
So what exactly are fuel cards and how can small businesses with fleets take advantage of their benefits?
Fuel cards are designed to be used by a range of businesses, whatever their sector or size. Individual cards can be purchased for each driver, which means they can use them to buy petrol, diesel or maintenance essentials like car wash and oil without having to rely on a personal credit or debit card.
By allocating a card to each driver and charging all the fuel to a designated account, small businesses can keep track of their spending more easily and have complete visibility and security over their purchases. All small businesses need to do is purchase fuel cards that best suit their needs and allocate them to individual drivers to use.
By helping businesses keep track of their fuel purchases without making it any less convenient for drivers, small fleets can save money easily.
Choosing a fuel card that aligns with your objectives and meets the requirements of your fleet is key to feeling their full advantages. To select the right card, you need to consider a few important factors.
Drivers want to be able to purchase fuel whenever they need it. So choosing a fuel card that can be used at petrol stations along your drivers’ major routes is key. For example, there’s no use buying a Northern Ireland-only fuel card if your employees buy fuel in England. Checking which networks your fuel card is valid for is essential to making sure your drivers don’t get caught out when they try to fill up.
Each driver in your fleet can have their own individual fuel card, this means they can operate freely while charging all their purchases to the same account. This isn’t just more convenient for drivers but means businesses and fleet managers can keep an eye on the fuel spend per card, individual driver or vehicle. This helps them to track their spending and make efficiencies, with each individual transaction being consolidated into a single system and invoice.
Some fuel card providers charge for transactions or adding extra cards to an account. Looking out for network service and annual card charges are some of the potential fees providers could hide or add to your account, so you need to check terms and conditions to ensure your provider is completely transparent. Some fuel cards may offer great introductory discounts but put the weekly price up over time, so keep an eye out in the T&Cs for this.
Plus, seeing if your fuel card provider can offer any savings from drivers consistently shopping at supermarket petrol stations is also worthwhile. For example, with some card providers drivers can save up to 3p per litre, so ensure you’re choosing the most cost-effective option possible before you buy.
Getting a fuel card is straightforward for businesses of any size or sector, particularly with fuelGenie. Having details such as your company bank details, registered address, director or partner details, registration number (if you’re a limited company) and estimated monthly fuel spend handy will be useful for your application.
If you want to apply for a fuelGenie fuel card, then there are no minimal requirements or applications fees, just a few steps that you need to follow via our secure online application form. Once you’ve filled out your details, your application will be reviewed by our team. If approved, you’ll then receive the number of fuel cards you’ve applied for and be able to log into your online management account.
From here, you can monitor your transactions, access HMRC-approved invoices and breakdown details about each card and what’s been spent by date, time, location and value. Businesses can also set up credit limits which will apply to cards across the whole account and make sure you don’t get any unexpected payments. In short, with fuelGenie fuel cards, your small business can monitor and optimise your fleet’s spending while purchasing your fuel flexibly and cost-effectively.