We break down all you need to know about fuel cards, the handy method to pay for petrol/diesel…
How Does a Company Fuel Card Work?
How do fuel cards work? — FAQs
What are fuel cards?
To pay for petrol or diesel using a fuel card, one just fills up their vehicle and then proceeds to the payment kiosk, where their card is scanned by the cashier or entered into the chip and pin machine.
Allstar and UK Fuels are two of the most well-known fuel card providers; BP and other petrol station networks also offer their own cards, which may sometimes be used at competitors’ stations.
Who should use a fuel card?
Companies often provide petrol vouchers to workers who log a lot of miles while on the clock. Employees that operate construction vehicles, such as vans, pickup trucks, and even heavy machinery, may be issued fuel cards by their employers. Fuel cards are used by the emergency services as well.
How do fuel cards work?
Physically, fuel cards are similar to debit or credit cards in operation. Your employer will get frequent invoices from the fuel card business, who will then electronically pay the gas station on your behalf.
When paying for petrol using a fuel card, you’ll usually also need to provide your vehicle registration. When you swipe your card at the pump, the attendant enters this information into the register and may double-check that the vehicle you filled up matches the registration you gave. The vehicle’s mileage will also be requested. In this way, your company can make sure the cards are only being used for their intended purposes.
Is it advantageous to have a fuel card?
Using fuel cards eliminates the need for your company’s accounting team to process employees’ receipts, claims, and credit/debit card bills. As an added bonus, they help prevent the kind of fraud that may occur if staff were given many credit cards. There are gasoline cards that will save you up to 10 pence per gallon.
However, there are certain drawbacks, including the fact that not all gas stations accept all fuel cards. There is a yearly service fee of £10-£20 attached to certain gasoline cards.
Do fuel cards have any other uses?
It all comes down to the account’s configuration at your firm. There are fuel cards that simply work for petrol, and others that also let you buy oil and AdBlue for your vehicle, as well as use them at car washes. It is possible to pay for electric vehicle charging using certain fuel cards.
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