What is the benefit of a fuel card?
What is the benefit of a fuel card?
So what are the benefits of fuel cards?
- A quick and convenient way to pay for fuel.
- Increased security and a safer alternative to carrying cash.
- Tighter control of business expenses.
- Streamline mundane admin processes.
- Increased flexibility for refuelling across a huge network.
Is fuel cheaper with a fuel card?
Using a fuel card is a great way to save some money, both by getting the fuel at a discounted rate and also by being able to better manage and track the way the vehicle is driven.
How much do you save with a fuel card?
Fuel cards generally offer savings of around two to three pence per litre on the national average pump price which, when multiplied across a fleet of company cars and vans, or a HGV haulier, could amount to significant savings every year. However, they do often restrict where your drivers can fill up with fuel.
Is it worth me having a company fuel card?
The biggest benefit of having a company fuel card are the savings that your business gets at the pumps when filling up. Many fuel card providers will notify you a week in advance about the fixed national cost per litre of fuel. This tends to be around 2-3p less than the standard asking price.
How do fuel cards work for employees?
No costs upfront – a fuel card eliminates the need for employees to spend their own money on fuel expenses and then claim it back. Instead, your company is charged directly, which means they’re never out of pocket.
How do fuel cards make money?
The first primary source of how fuel card companies make money is merchant rebates. This pushes fuel card customers to the gas station owner which helps the gas station sell more fuel and c-store items. In return the fuel card company makes 3¢ to 8¢ per gallon on the transaction.
Who uses fuel cards?
fuelGenie cardholders can use their fuel card at Tesco, Morrisons and Sainsbury’s forecourts across the UK. These supermarket petrol filling stations charge an average of over 3 pence per litre less than others, saving the business money and keeping costs down.
Which fuel card is best in UK?
The top 5 fuel cards for your small business in the UK
| Fuel card | Best for… | Network |
|---|---|---|
| BP Supercharge | Best for larger fleets | 7,600+ |
| UK Fuels Fleetone | Best for fleet management add-ons | 3,300+ |
| Texaco Fastfuel | Best for fuel budgeting | 2,900+ |
| The Fuel Store Card | Best for small businesses | 3,000+ |
How do fuel cards save money?
Fuel cards offer savings on fuel in a number of different ways. Some fuel card providers fix the price of fuel to below that at the pump while others pass on saving made by sourcing their fuel from competitively priced suppliers.
What is the taxable benefit of a fuel card?
The use of company fuel cards for personal travel, including journeys to and from work, is effectively using company funds to pay for personal expenses. This is classed as a taxable benefit. The business must then pay National Insurance contributions (at 13.8%) on the value of the fuel being used for personal use.
Can you claim 45p per mile with car allowance?
You can claim over 45p tax-free as a business mileage allowance if you use your own car for a business journey. If your employer pays you back, but will only reimburse you at 35p per mile then you can claim the additional amount as a deduction from your taxable income from HMRC through your tax return.
How does fuel card work?
Fuel cards work by allowing company individuals to fill up at petrol stations within our network. Instead of paying with cash or credit/debit cards, the company employee simply presents the card to the cashier. The company is billed directly and the employee can collect a receipt as proof of purchase.
Why choose fuelfuel card services?
Fuel Card Services is working with Cool Earth to mitigate global carbon emissions by preserving the most threatened rainforests Save even more with our range of fleet products: Vehicle and asset tracking Improve safety for your drivers, security for your vehicles and reduce costs across your fleet by integrating your fuel data.
What are the benefits of a Shell fuel card?
Each of our Shell fuel cards has its own features and benefits, ensuring you have the right fuel card for your business. With one of the largest refuelling networks, savings of up to 4ppl locally and up to 10ppl on motorways, plus Shell Go+ Rewards, you really can find a fuel card to suit you
How does the harvest energy fuel card benefit my business?
With this in mind, the Harvest Energy Fuel Card was introduced to benefit our commercial customers. Harvest Energy’s trusted fuel card solutions operate on a strict “no hidden fees” policy, complete with transparent pricing – where customers only pay for what is drawn at the pump, with zero card charges.
Are there any transaction fees with the UK Fuels card?
There are no transaction fees and you get the same fixed weekly price wherever you fill up at Texaco sites. The UK Fuels card offers a diesel network of nearly 3,000 sites nationwide, including selected BP, Shell and Texaco sites as well at all Tesco, Sainsbury’s and Morrisons supermarkets.