A business fuel card can be a valuable asset. From discounted petrol to supermarket rewards, they can bring a host of benefits.
If you’re considering getting a fuel card for your UK business, use our online quote service today. Or, for a little more information about fuel cards for businesses, read on.
What types of businesses can get fuel cards?
Any business can get a fuel card — and they’re not restricted to big companies with large fleets. If you’re self-employed or a sole trader, you’re still eligible for a fuel card. They can be helpful if you frequently drive for work and get through a lot of fuel — you could save 3p per litre. It’s important to note that you can only use your fuel card for work purposes, not personal journeys.
When looking for the best fuel card for your business, you’ll see that some types may be more suited for large fleets while others can greatly benefit smaller teams and sole traders.
How does a company fuel card work?
First, the employer will choose the type of fuel card they want to use in their business. After ordering their cards, they can then assign each card to a driver in their fleet. Each driver will be able to use their individual fuel card whenever they fill up for work.
As an employer, you’ll benefit from savings made across your fleet. You’ll also be able to control your company accounts with our online management tool.
The cost of getting your fuel cards will be based on a few factors, including your fleet size and the types of vehicles used by your team. Some cards include an annual fee, while others are free to order. With Interfuels, all information will be clear from the outset, so you can make the most of your fuel card savings without any hidden fees. To discover which fuel card is most suited to your needs, request a free fuel card quote.
What are the main fuel card payment tariffs?
There are two main tariff options to be aware of — pump prices and fixed prices. With pump prices, you pay for the amount shown on the pump (which can fluctuate day to day). With your fuel card, there might be certain discounts available to you at different fuel stations. Fixed pieces are set prices that you’ll get with your fuel card, these are fixed weekly and locked in for this amount of time — making it easy to plan your costs.
Why do UK businesses need a fuel card?
If you’re a UK business, looking to maximise your daily savings, and have a fleet of vehicles, then getting your drivers fuel cards is a wise move. They’re an easy way to make consistent savings on your fuel costs and manage your fuel spend.
How can a fuel card benefit your business?
Utilising fuel cards can benefit your business in a number of ways, such as:
Cheaper fuel
The main reason that businesses use fuel cards is to benefit from discounted prices at the pump. With a fuel card, you can expect your rate to be around 3p cheaper than the national average at that time. If all drivers within a fleet use a fuel card, the savings can quickly add up.
Greater control over fuel spend
Your fuel card will come with online management tools, so you’ll know where your drivers are filling up and more. This will help you to encourage divers to refuel at a low-cost network.
Plus, you’ll be able to limit how your fuel cards are being used. This should give you peace of mind that your money isn't disappearing on non-fuel-related purchases. By seeing where your finances are going, you can also budget and forecast more effectively.
Add spend caps
Moreover, you can add spend caps to your fuel cards, helping you control your cash flow, clamp down on driver fraud, and confidently claim back VAT.
Savings on admin costs
With fuel cards, your drivers no longer need to keep receipts, you no longer have to match spending to mileage, and every fuel purchase is collated into a single HMRC-compliant invoice. They will streamline your expenses and VAT claims, speed up the process, and reduce the need for additional admin staff.
Rewards and loyalty points
Depending on the fuel card you choose, you may be able to collect loyalty points and rewards. These can range from points towards vehicle services to supermarket rewards.
Find the best fuel cards for your UK business with Interfuels
Whether you’re a sole trader, part of a small team, or the owner of a large business, if you’re looking for the ideal fuel card to support your business, we can help. At Interfuels, we compare fuel cards from the UK’s most trusted providers to ensure you get the best savings possible.
Get in touch with the Intefuels team if you have any questions, or go ahead and arrange your free fuel card quote today.