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?
How do small fleets use fuel cards?
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.
What are the benefits of fuel cards to small business fleets?
- Managing high levels of spending: particularly in logistics or distribution businesses, fuel costs can be a major expense. By getting your drivers or employees to purchase their business fuel through a single account, you can easily keep track of and manage your fuel spending. It also means you can identify areas for optimisation when needed.
- Take the hassle out of fuel admin: no more collecting paper receipts or relying on employees to fill out their expenses forms accurately. Simply log onto your account and you’ll be able to see all your transactions and VAT receipts in one place.
- Make fuel purchasing easier: some providers allow you to have an unlimited number of cards without any extra charges. Plus, drivers with these cards will be able to buy fuel from any of the stations in their network, making purchasing convenient and straightforward without employees having to use cash, personal cards or calculate their expenses.
By helping businesses keep track of their fuel purchases without making it any less convenient for drivers, small fleets can save money easily.
How can small businesses find the right fuel card?
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.
Works at the right petrol stations
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.
Helps you manage your fleet
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.
Doesn’t have hidden charges
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.
How can small businesses get a fuel card?
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.
