How does it work? | How to choose the best fuel card
Fuel cards are cards which can be used at fuel stations in place of conventional credit card, debit card or cash payment methods. They can be used at a variety of filling stations to purchase petrol, diesel and other types of fuel. Fuel cards are distributed by specific branded sites such as Shell, Texaco or Esso and can be used across the country at the relevant sites. They typically come in two types, either diesel cards or petrol cards.
How does it work?
A fuel card account can hold multiple fuel cards, and a single fuel card can be used to service multiple vehicles. Therefore if you have a business with a large fleet of vehicles, having a fuel card account is an ideal solution. When purchasing fuel cards for a specific branded fuel site such as Shell, Texaco or Esso, you must register a payment option and invoicing address to your account. Once you have activated the card, you can then fill up your vehicle or vehicles with fuel at any of the sites in their network – for instance, if you have a Shell fuel card, you can use it at any Shell station in the country.
To pay, you would present the fuel card to the cashier at the filling station as you would present a credit or debit card. You will then receive an invoice by post, with the invoiced amount debited from the payment option specified. Payment is usually taken by direct debit.
UK diesel cards and UK petrol cards use the same smart chip technology as credit cards, providing a secure and easy-to-monitor system.
How to choose the best fuel card
Each business has different needs and may control different amounts of vehicles, therefore it is important to understand how to choose the type of company fuel cards you require. There are a variety of different fuel cards available to meet the needs of any business fleet. However, there are some fundamental questions you must ask when deciding on the best fuel card:
- What size are your vehicles? The size of your vehicle usually determines your fuel consumption rate and the size of your fuel tank, will help you to understand how much fuel you may require in a given amount of time.
- What distance do the vehicles travel per day? This will also help you to determine fuel consumption rate.
- How much money do you currently spend on fuel? This will help you to understand the financial implications of using fuel cards.
- Do your vehicles run on petrol or diesel? Determining this will help when choosing whether you should opt for diesel fuel cards or petrol fuel cards for your company.
- How many vehicles does your company own? Determining this will help you to assess how much fuel you may require and if you require company fuel cards.
If you own a large fleet of vehicles which go to various locations or have multiple drivers, fuel cards eliminate the need for every driver to carry cash. They also enable accurate monitoring of expenses incurred through itemised invoices. This creates a hassle-free, secure system and prevents any fraudulent transactions from taking place.
If you’re interested in fuel cards, why not contact Companeo for free quotes from the best fuel cards companies in the UK, whether you need for a diesel card or a petrol card!
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