Top 10 Prepaid Business Expense Cards in the UK

Prepaid cards can be an excellent option for businesses striving for better expense control and flexibility. With this type of card, you can manage your expenses more efficiently. A prepaid business card is also a go-to choice for a business with a low or no credit score to open a business bank account.

Discover the best prepaid business cards for your company from the top prepaid card and expense management providers.

Top 10 Prepaid Business Cards in the UK: Overview

Below, you can find information about prepaid business card solutions, their features, pros, and cons: 

1. Wallester Business Expense Card

Overview:

The Wallester prepaid card is an innovative payment solution best suited for large international businesses. Small and mid-sized companies would also appreciate its flexibility, expense control level, and efficiency. Wallester offers an unlimited number of physical cards, which is an excellent option for growing businesses. The issuance of up to 15,000 virtual cards enables secure digital payments, providing additional protection by using different card numbers for each transaction.

Partnering with Visa allows customers to benefit from payment security efficiency and profitable offers.

You are not just owning a prepaid card. You are harnessing the mechanism of business expense control. Wallester provides business expense tracking, ensures the security of multi-currency transactions, and offers various analytical tools that bring insights for making informed business decisions.

Features:

• Registration, standard KYC and approval within 24 hours
• Instant issuance of unlimited card amount
• 300 virtual and unlimited number of physical cards are free of charge
• You can purchase a personal BIN
• No fees for card issuance and card service
• 24/7 support
• Onboarding assistance, customer success and dedicated account managers
• Provides open developer APIs
• Topping up with zero commission
• Detailed analytics and reporting to control all transactions in real-time

Card type: VISA

Costs:

Card fee: £0

Monthly fee: £0

Transaction fee: £0

ATM fee: 2%

Pros:

• Physical card numbers are unlimited, and up to 15,000 virtual cards
• Cost-effective solution – no commission fees, no fees for card issuance and card service
• Free plan available
• 24/7 assistance
• Supports multi-currency transactions
• Seamless integration with accounting software
• Complete control over spending with extensive reporting features at any stage

Cons:

• Not always relevant for small businesses

Visit: Wallester Business Expense Cards

2. Soldo Prepaid Company Card

Overview:

The Soldo company cards allow you to control your business transactions. You can set individual spending limits for each employee who uses a Soldo prepaid card. This practice eliminates risks of overspending and misuse.

You can track spending in real-time and categorise expenses in your app or a web browser. The application embedded with cards can automatically categorise costs according to specific patterns. Analytics and reporting provide insights about each employee’s spending.

Soldo also offers instant issuance of virtual cards, which can be assigned to each vendor. You can also set limitations on virtual card usage in time to improve card management and security. 

Features:

• Offers physical and virtual cards for individual and business use
• Fees apply per card
• Integrates with Sage, Xero, QuickBooks and Exact Online
• Expense management with the ability to set spending limits for each user
• Automatic categorisation of expenses
• Custom onboarding and training
• Dedicated customer success and account managers
• Real-time reporting
• Digital storage of receipts

Card type: MasterCard

Costs:

Card fee: £0

Monthly fee: £6

Transaction fee: £0

ATM fee: 1%

Pros:

• 30-day trial
• Automates expense management
• Fast account opening
• Easy cancellation
• Up to 30 users and 40 active cards

Cons:

• A separate business bank account is needed
• Currency conversion rates are less profitable than those of competitors
• Soldo company cards don’t have a team travel planner feature
• Extra foreign transaction fees for purchases in currencies other than account currency.

Visit the Soldo Prepaid Business Expense Card website.

3. Tide

Overview:

Tide expense card is an excellent choice for small and medium-sized businesses. Opening a Tide account provides you with numerous expense management capabilities. This user-friendly option allows you to issue up to 50 cards per account and seamlessly integrate them with the Tide app.

Tide expense cards have enough functionality to track, manage, and account for companies’ expenses. They also automate receipt capturing. Using your Tide app, you can set individual spending limits and freeze and unfreeze cards in real-time. 

Features:

• Automatch of receipts to payments
• Spending limits settings per card
• Requires a free Tide business expense account
• Enables integrations with accounting software, including Sage and QuickBooks
• Automatic categorisation
• 0.5% cashback is available
• Up to five business accounts to open
• Dedicated support

Card type: MasterCard

Costs:

Card fee: £5

Monthly fee: £0

Transaction fee: £0

ATM fee: £1

Pros:

• Free account available
• Provides cashback and bonuses
• Up to 50 cards per business account
• Cost-efficient

Cons:

• You must have a Tide account to start
• The support is not available 24/7.

Visit the website Tide Expense Cards.

4. Pleo

Overview:

Pleo cards are an optimal solution for expense management. Companies can use Pleo business expense cards for financial and other transactions and money spending control. You can seamlessly integrate the Pleo app with your accounting and business software. Such integration streamlines existing workflow and minimises administrative burden on employees. 

You can set a spending limit for each Pleo card to control your budget better. Employees can capture receipts, which will be automatically matched and categorised. This capability automates expense management, saving their time for more critical tasks.

The pleo online platform enables instant notification about processed transactions. Real-time dashboards provide a wealth of information for company money management. 

Features:

• It is free for up to five users
• Paid software subscriptions start at £10 per person per month
• Card management allows individual limits, enabling and disabling cards
• Real-time expense tracking
• Automatic receipt matching and categorisation
• Integrates with accounting applications, including Xero, Sage, QuickBooks and other tools
• Informative expense reports
• 1% cash back for annually billed plans
• Foreign exchange fees start at 2.49%, while the advanced plan allows 1.99%
• Real-time dashboards and reporting tools
• Chat, email, and phone support, including live chat support
• Dedicated customer management
• Reimbursement of cash expenses and mileage
• Access to open API

Card type: MasterCard

Costs:

Card fee: £0

Monthly fee: £6

Transaction fee: £0

ATM fee: £4

Pros:

• User-friendly platform
• Easily integrated with accounting software
• A free trial is available
• Saves time on expense tracking
• 1% cashback on annual billed plans
• Facilitates informed business decisions

Cons:

• Too expensive for small businesses
• Upload and card issues

Visit the website Pleo Business Expense Card.

5. Payhawk

Overview:

Payhawk offers intelligent Visa company cards. A provider supports the issuance of physical and virtual cards. Using the app, your team can gain better control over spending with fund requests. You can issue or freeze a card with a single click. Payhawk supports overseas transactions, reimbursements, and free transfers within SEPA in the UK. Foreign exchange rates are much better than those in banks — up to 6x.

Businesses can integrate the Payhawk app with ERP systems like Netsuite and Microsoft Dynamics. You can monitor spending requests and approve them in real-time.

Features:

• EUR and GBP, USD accounts
• Unlimited virtual and physical credit and debit cards
• Offers approval system
• Allows to manage spending limits and monitor purchases in real-time
• Intelligent inbox for receipts attachment
• International payments with up to 6x better exchange rates than banks
• Provides OCR in 60+ languages
• Free transfers within SEPA and the UK
• Allows bulk payments, supplier management, and reimbursement
• Integrations with ERP systems such as Netsuite and Microsoft Dynamics
• Provides customers success manager and online onboarding
• Convenient reporting and dashboard

Card type: VISA

Costs:

Card fee: £1

Monthly fee: £8

Transaction fee: N/A

ATM fee: N/A

Pros:

• Cost-effective for the UK market
• Unlimited number of physical and virtual cards
• Saves time with bulk payments and supplier management
• Provides reimbursements
• Simplifies international payments

Cons:

• Integrations with Exact Online are not smooth
• Each expense is separate, which confuses users
• No actual monthly expense reports per employee

Visit the website Payhawk Business Expense Card.

6. Klippa

Overview:

Klippa offers an expense management system that simplifies expense control. Businesses can set digital workflows that allow approvals on the web and in-app and establish expense policies. Employees can submit receipts through an app, email, or a website. They can use categories, cost units, cost centres, and projects. Managers approve spending requests via the online platform or app.

Klippa declares it has the best OCR technology in Europe, providing up to 99% of extraction accuracy. Employees can store receipts in the cloud. The Klippa system automates fraud detection, credit card statement matching, VAT reclaim and other expense management processes. 

You can also seamlessly integrate the Klippa app with your accounting software. 

Features:

• Reimbursement of travel expenses with Google Maps integration
• Provides automatic VAT reclaim
• Allows automatic fraud detection
• Custom SLA
• Automatic credit card statements matching
• Integrations with standard accounting systems
• Dedicated account manager
• Support is available via chat, email, and phone
• Klippa provides access to custom integrations with the Klippa API

Card type: VISA / MasterCard

Costs:

Card fee: £0

Monthly fee: 5 euros. The approval system and integration monthly fees start at €50 per month.

Transaction fee: £0

ATM fee: £0

Pros:

• Low fees
• Advanced OCR technology
• Enhanced security
• Saves time on VAT expense claims and reimbursements
• Efficient expense management

Cons:

• The app is limited to invoices and accounts payables
• Less flexible application to suit individual customers
• Difficulties with API documentation

Visit the website Klippa Expense Cards.

7. Card One Money

Overview:

Card One Money is a fast option for businesses. You can apply online to start using the service within 10 minutes. No credit checks applied with prepaid debit MasterCard. Card One Money states that its cards are accepted in over 35 million locations worldwide. There are two pricing options for businesses. When you have less than £2 million, a subscription will cost you £12.50 per month and a one-off £55 application fee. Custom pricing is applicable when your turnover is higher than £2 million.

You can set multi-level approvals and multi-account views for all your brands within the app. The solution allows you to control permissions and card balances. The company spend money, manages direct debits and standing orders, and pays bills, invoices, and wages. With Card One Money prepaid expense cards, you can quickly process international payments in different currencies. 

Features:

• Employee expense cards with no purchase transaction charges
• Paying cheques in at any Barclays branch
• No overdraft facility (so, if your company spend more than the balance, you won’t be able to get an overdraft)
• No credit check
• Free notifications after bills are paid
• Provides four additional cards for business use
• International payments support
• You can export statements to your accounting software
• Online account management
• Dedicated manager
• Bulk payments
• Multi-level approvement settings
• Open banking API integration

Card type: MasterCard

Costs:

Card fee: £5

Monthly fee: £12.50

Transaction fee: £0

ATM fee: £1.50

Pros:

• Fast application within 10 minutes
• Significant amount of cashback – up to 3.5% at selected retailers
• Saving time on bulk payments
• No credit checks

Cons:

• Limited number of cards to add – only 4
• No overdraft facility
• The solution is not suitable for mid-sized and large businesses

Visit the website Card One Money Prepaid Expense Cards.

8. Equals Money Prepaid Business Cards

Overview:

Equals Money business expense cards are designed for businesses participating in international trade. With solid coverage across 190 countries and 38 currencies, Equals becomes a go-to choice for companies performing multiple overseas transactions.

Cardholders can load the card at any time without limiting the amount. An Equals Money prepaid business card allows transaction tracking, manages and controls budgets, and spots unusual or fraudulent operations. 24/7 support works despite geographical time zone differences. 

Features:

• Prepaid cards for national and international transactions
• Virtual cards are unlimited and free
• 38 currencies support
• Cards are accepted in over 190 countries
• Control over user permissions, card freezing, and spending limits, adhering to employee roles
• Dedicated account manager
• 20 major currencies are free of charge, but a 1.5% fee is charged for the other 18 currencies

Card type: MasterCard

Costs:

Card fee: £10

Monthly fee: £0

Transaction fee: £0

ATM fee: £1.5

Pros:

• Unlimited number of free virtual cards
• A vast coverage – you can use cards in more than 190 countries
• Significant cashback – up to 3.5% on top brands
• Dedicated account manager and 24/7 customer support

Cons:

• It is not the best option for the small businesses
• Additional costs on cards – £10 plus VAT for each card

Visit the website Equals Money Prepaid Business Cards.

9. Wise

Overview:

Wise is the best low-cost option for international payments. It supports over 50 currencies, and its fees are lower than traditional banks can offer. Wise doesn’t have any hidden costs like international transaction fees. Companies can work with multiple cards, global clients, and partners. Wise applies the actual mid-market exchange rate for currency conversions to ensure business-friendly FX rates. 

Wise’s online platform and app have user-friendly interfaces, which users appreciate for convenience. Payment processing time is significantly reduced with Wise. 

International businesses, large and small, see Wise as a must-have option for reducing their costs for overseas transactions.

Features:

• 50 currency support
• 1% cash back on eligible transactions
• 6x cheaper actual exchange rates in 80 countries
• Expense reconciliation and accounting integrations
• Withdraw £200 per month for free, charging 50p after

Card type: VISA / MasterCard

Costs:

Card fee: £7

Monthly fee: £0

Transaction fee: £0

ATM fee: 1.75%

Pros:

• Unlimited number of users with only £3 per individual
• Multi-currency support with 50 currencies available
• International operations are 6x cheaper than most international banks
• 1% cash back on eligible transactions

Cons:

• There are specific limitations or conditions for users from different countries
• It might not be a good option for those companies that are not involved in the international trade

Visit the website: Wise.

10. Spendesk

Overview:

Spendesk offers company physical and virtual cards and an intelligent expense management platform with built-in spending rules. You can adjust budgets and set your policies. Employees can automatically submit receipts via the app. Finance teams can control spending in real-time.

You can apply for a demo of Spendesk’s software. Your businesses can seamlessly integrate this app into their accounting applications, such as Xero, Sage, and QuickBooks.

Features:

• Physical and virtual cards
• Automatic receipts collection and submission through the app
• Connections with accounting software
• Built-in spending rules
• Real-time tracking of spending
• Software demo is available
• Ability to manage budgets and spending policies

Card type: VISA / Mastercard 

Costs:

Card fee: custom pricing

Monthly fee: custom pricing

Transaction fee: custom pricing

ATM fee: custom pricing

Pros:

• Seamless integration with accounting software like QuickBooks, Xero, and Sage
• Saves time on receipt capturing and expense tracking
• A flexible option that allows rules-changing

Cons:

• Custom pricing

Visit the website Spendesk Prepaid Business Expense Card.

11. Airwallex

Overview:

Airwallex offers a cost-efficient solution with zero international card transaction fees. Companies can also use expense management platforms for free. You can open an account and utilise the first five corporate cards for free. 

This option applies to those who work with multiple currencies. Airwallex provides competitive FX rates, which is beneficial for businesses. It offers multi-currency wallets with auto-conversion functions.

You can also track spending in real-time and apply for virtual and corporate expense cards, which can be opened in minutes.

Features:

• Multi-currency employee cards for £5 per user per month
• Support multi-currency cards
• Real-time tracking of spending
• No account and no international card transaction fees
• The first five cards are free
• 10% cash back on the first $1,000 of international transactions
• Integrations with accounting software such as Xero

Card type: VISA / MasterCard

Costs:

Card fee: £0

Monthly fee: £5

Transaction fee: £0

ATM fee: £0

Pros:

• Cost-efficient expense management – the first five cards are for free, no account fee and no transaction fees
• A considerable cashback – 10% on the first $1,000 of international transactions (T&C Is applied)
• Fast money transfers
• Profitable foreign exchange rates
• Advanced coverage in over 40 countries

Cons:

• Limited abilities for expense management

Visit the website Airwallex Business Expense Card.

What is a Prepaid Business Card?

A prepaid business card, or corporate expense card, is a type of card companies use for specific business expenses. A business loads a prepaid business card with a predetermined amount for a dedicated team member during a particular period. When the whole sum is used, the manager decides whether to add more money, freeze or discard a prepaid debit card during the next period.

Prepaid cards are accepted for buying goods and services in brick-and-mortar stores and on the web. Businesses have more control over purchases, establishing specific rules and custom limits for the company’s spending. They can track payments to be informed about spending patterns for accounting, audit and tax preparation purposes.

How do Prepaid Business Expense Cards Benefit Businesses?

The core benefits of prepaid business expense cards for companies include:

1. Simplified expense tracking: With analytics, businesses can monitor spending in real-time, identify trends, and make necessary changes. Employees, in turn, instantly collect and upload receipts to expense management platforms.
2. Provides more flexibility: Prepaid business expense cards can be used and easily topped up anywhere and anytime, similar to credit cards. This is beneficial for covering unexpected and easy expenses.
3. Streamlined reimbursement process: Unlike traditional reimbursement methods, where employees must wait weeks to reimburse their costs, prepaid business cards are another story. Managers can approve and reimburse expenses instantly, improving staff members’ morale and efficiency.
4. Improved expense control: Companies can set custom limits for employees or finance teams. Businesses can also prevent misuse or overspending by restricting card usage to particular transactions, such as accommodation or travel.
5. Enhancedcash flowmanagement: The preloading nature of prepaid business expenses allows better management of costs and prevents unnecessary spending. Ultimately, this results in a more predictable cash flow, vital for business growth and development.
6. Better accountability and transparency: Real-time spending provides a wealth of information for company money management. A transparent company’s spending helps identify potential issues and ways to improve them.
7. Offers more security: Prepaid cards are not connected to the central business accounts, significantly reducing the risk of severe fraud. The absence of a credit limit and a preloaded balance prevent considerable losses in case the card is stolen or lost.
8. Ensures insightful reporting and compliance: Prepaid business expense cards provide detailed transaction data, which eases compliance with tax regulations. You can streamline financial report preparation and accurately organise information for smooth audits.

Is a prepaid card the same as a business credit card?

The nature of prepaid business cards and business credit cards look similar because they can be used for business-related purposes only. Nevertheless, they are working differently. A prepaid business card has a predetermined amount on the balance, not allowing you to spend more of this amount. With a business credit card, you can use a credit line, borrowing money up to a specific limit.

Business expense cards don’t require any credit score or credit history. Business credit card providers require specific credit ratings to use them. A business credit card is costlier for businesses because of higher rates. Those cards can bog you down in considerable debt if you do not control spending properly.

What are Alternatives to Prepaid Business Cards?

Here are the most popular alternative options to business expense cards: 

• Business credit cards: These corporate cards allow you to borrow money to a specific limit using a credit line.
• Charge cards: They work as credit cards, but you must pay the total balance at the end of each billing cycle. This type of card can help eliminate interest charges and debt increases.
• Business debit cards: Similar to prepaid business cards, they do not allow you to spend more than you can have in your account. The main difference is that those cards are directly connected to a business bank account, and all transactions are automatically deducted from this particular account.
• Expense managementsystem: Expense management software helps you to track and control your expenses, providing insightful analytics for decision-making.

Prepaid Business Expense Cards With Wallester’s Expense Management Solution

The Wallester prepaid card represents a groundbreaking payment option particularly beneficial for large global enterprises. Smaller and medium-sized businesses would also value its adaptability, level of expense data oversight, and efficiency. Wallester grants unlimited physical cards, making it an ideal choice for expanding organisations. The availability of up to 15,000 virtual cards facilitates secure online transactions, enhancing safety by utilising unique card numbers for every purchase.

Collaborating with Visa enables clients to use enhanced payment security and rewarding offers.

You are not merely holding a prepaid card but leveraging a system for managing business expenses. Wallester offers operating expense monitoring, secures multi-currency transactions, and provides various analytical tools that offer insights to make well-informed business choices.

Our business expense monitoring tool includes all the essential expense tracking and reporting features. The app allows invoice uploads, budget oversight, comprehensive reporting, and a payment approval process that streamlines your operating expense supervision. Custom integrations via REST API with various software make your accounting and expense management more manageable.

The issuance of physical and virtual cards, whether corporate, prepaid, debit, or credit cards, is free. Easy expenditure management with personalised spending caps helps you control your finances.

Choose our prepaid business expense cards for free: