Who are fuel cards for? Could you make savings with a fuel card account?
Written by: Simon Pavey, Last updated:8th February 2022
Fuel cards can be a great way for businesses and individuals alike to take the hassle out of filling up their vehicles. However, we often get asked the question, is a fuel card really right for me?
The simple answer is that fuel cards are for everyone. They’re a flexible way to save money on the cost of petrol and diesel, and they offer a hassle-free, quick and easy way to manage your fleet. There are a versatile mix of products on the market that means there’s always an option to meet your needs.
Here we examine some of the typical benefits of fuel cards for different groups. We also consider the questions each should be asking to determine the product that is right for them.
Fuel cards for small businesses
When considering the best fuel cards for business purposes, there are a number of aspects to consider. The first, and perhaps most obvious, is cost. Whether you have a fleet of a single vehicle or dozens, saving up to 10p per litre on the price of refuelling can have a dramatic impact on a firm’s bottom line.
Another consideration for anyone considering what is the best fuel card for a small business is how prices are set. Some cards will have a fixed price per litre for all transactions. Meanwhile, others will be a set price off the cost at the pump. Knowing which will likely give you the best savings overall is therefore crucial.
Finally, small businesses should give thought to the way in which they handle their expenses. With a fuel card account, there’s no longer a need to reconcile receipts for fuel. As such, you should consider your current cost of admin around managing your expenses. Choose a fuel card product that makes this process more straightforward.
Fuel cards for self-employed professionals
Moving away from the corporate world, self-employed professionals can also enjoy the many benefits of fuel cards. Similar to small businesses, self-employed people need to get the most bang for their buck when it comes to handling their expenses.
Even small savings can make a big difference. The discounts offered on a fuel card account can have a massive impact on profits. There’s also the administrative benefits: fuel cards can go a long way to helping take the hassle out of fuel expenses for this group.
By having all your fuel expenses stored in one place (via online invoices that are fully HMRC-approved), there’s no need to reconcile receipts for VAT reclaim. As a result, the whole process of managing your expenses can be much more straightforward.
Fuel cards for individuals
While businesses are often associated with fuel card usage, there are a number of products that support individuals as well. It’s less common for individuals to use fuel cards, but they do offer some important benefits to bear in mind.
For example, the best fuel cards for individuals will offer a pre-pay service that allows you to top up your account at a fixed price and then draw fuel at a set cost. This means you don’t have to carry cash or other charge cards when you want to fill up. You can also potentially benefit from considerable savings.
Fuel cards for truckers
One of the most common groups to make use of fuel cards is truckers. Lorry drivers spend a lot of time on the roads and they understandably need to fill up their vehicles often. Having access to a fuel card helps to make this whole process much safer and easier.
A fuel card replaces the need for drivers to carry large amounts of cash or credit cards, which can present a risk in terms of being highly valuable and a target for thieves. Instead, having a fuel card with PIN is a key safeguard that helps to reduce risk.
Meanwhile, having access to a nationwide network of filling stations at which to refuel your vehicles helps to ensure journeys can be planned more efficiently. You’ll know in advance where the best places to fill up are located. A key question when choosing the right product should therefore be the breadth of coverage the network provides.
Fuel cards for taxi drivers
Taxi drivers, similar to truckers, spend a lot of time driving and will cover considerable distances every day. This means they need to be sure they aren’t spending excessive amounts on fuel. As a result, a fuel card that offers great discounts should be a key consideration for this group.
Not only that, but the volume of filling stations that now accept fuel cards in the UK means it is easier than ever for account holders to find a place to fill up. However, making sure you have a card that works in the areas you travel most should be a top priority.
Fuel cards for owner-operators
Similar to small businesses, owner-operators need to have a good handle on costs. As a result, choosing a fuel card that delivers excellent savings and is accepted at a wide range of locations should be a high priority for this group.
The same benefits of reduced administration, improved driver security and more effective financial planning all also apply. It’s also easy to add additional vehicles or cards to your fuel card account. This can be crucial should you have plans to grow and expand your fleet.
So, who are fuel cards for?
As we hope we’ve shown, there’s plenty of reasons to sign up to a fuel card account. It helps to take the hassle out of managing your fleet and fuel needs. They’re a versatile product that’s suitable for everyone and mean you can benefit from key savings, no matter your circumstances.
Get in touch with Fuel Card Services and we can match your requirements to the most suitable fuel card products on the market – we have all the biggest names available (BP, Esso, Shell and many more). Contact us today for further details on how to get started.back