Compare The Best Prepaid Business Cards

Compare the fees, rewards and eligibility requirements of the best prepaid expense cards for UK businesses

Written by
Prepaid Business Cards Harry Jones

Prepaid business expense cards are reloadable prepaid cards that help organisations budget, monitor transactions and set employee spending limits. They also have benefits for employees such as removing the need for them to use their own money for company expenses and having to submit expense claims and wait for a reimbursement.   

This guide aims to compare the 13 leading prepaid business expense cards available to UK businesses so can help you find the right prepaid card for your business’ needs. 

Best UK Prepaid Business Expense Cards

Jump to:

Tide Company Card

  • Card Type: Mastercard
  • Eligibility: UK-registered business
  • Software Integrations: Xero, Clear Books, FreeAgent, Sage , QuickBooks and more
  • Additional cards per month: £5
  • ATM Fee: £1
  • Non-Sterling (Card Payments): Mastercard’s FX Rate

Pros:

Cons:

Tide Expense Card Pricing Plans

Pricing PlansFreeProPlusCashback
Monthly FeesFree£9.99£19.99£49.99
Cards included 123
Additional cards per month£5£5£5£5
Bank Transfers20p20 a month freeFreeFree

Tide offers competitively and transparently priced prepaid business expense cards as part of their business bank account. They offer four pricing plans from free to £49.99 per month.

Fees for Bank transfers and ATM withdrawals (£1) additional cards (£5) are a standard price across all plans and similar to most of their competitors. 

The Tide business expense cards give you Financial Services Compensation Scheme (FSCS) protection, which many other non-bank providers do not, and the software makes it simple to integrate with the most popular software accountancy platforms such Clear Books, FreeAgent, KashFlow, QuickBooks, Reckon One, Sage, Xero. 

Equals Money Prepaid Expense Card

  • Card Type: Mastercard

Pros:

Cons:

Equals Money Pricing Plans

Pricing PlansCharity and Non ProfitBusinessBusiness Plus
Subscription Fees£0 per year£50 per yearCustom
Additional Cards / Users (Excl VAT)

£10 per physical card

Free virtual cards

Unlimited free users

£10 per physical card

Free virtual cards

Unlimited free users

Custom card pricing

Free virtual cards

Unlimited free users

ATM Fee£1.50£1.50 
Non-Sterling Rates (Card Payments)

Free in 20 major currencies, 1.50% thereafter

Free in 20 major currencies, 1.50% thereafter

Free in 20 major currencies, 1.50% thereafter

For £50 per year, Equals Money has a prepaid business card with zero FX fees in most major currencies, along with free virtual cards, unlimited users, and no additional monthly fees for physical cards. This makes them a cheaper choice than Juni, who specialise in virtual cards only. 

With 4.8 stars on Trustpilot, Equals Money has one of the best online reputations on the market.

Equals Money is arguably the best provider for non-profits, too. It’s worth considering Equals Money’s other solutions as part of a broader all-in-one custom package. This can gain you access to sophisticated solutions like hedging and an API for bulk payments, along with a multi-currency IBAN.

  • Card Type: Mastercard
  • Eligibility: Revenue over £2m and 10+ employees

Pros:

Cons:

Moss does not publish their fees and offers bespoke prices on application. 

  • Subscription Fees: Custom
  • Additional Cards / Users: Custom
  • Bank Transfers: Free
  • ATM Fee: Card can’t be used at ATMS
  • Non-Sterling Rates (Card Payments): 2%
  • Rewards: Custom cashback for customers with high monthly spending

Moss is primarily aimed towards larger companies looking for a more comprehensive solution. Whilst the software is highly capable and customisable, the spending card itself lacks the simple feature of withdrawing from an ATM. This could lead to disturbances down the line when it comes to financial reporting if you rely on a different card for withdrawals.

It’s not just the pricing that lacks transparency with Moss, but the potential for cashback too. These custom prices, along with its unlimited cards and great development potential, mean it’s mostly suited to companies looking for enterprise implementation.

Solodo Company Card

  • Card Type: Mastercard
  • Eligibility: ID documentation, director proof of address, and Companies House number.
  • Credit check: None

Pros:

Cons:

Soldo is a relatively expensive option due to its monthly fee structure, charging both a subscription fee starting at £21, as well as £7-£11 per month per additional employee after the first 3 on the Standard and Plus plans respectively. Soldo may suit international firms who pay extra for Plus or Enterprise plans to gain multi-currency support but their FX fees are relatively high.

With strong Trustpilot reviews and subpar App Store reviews, this indicates that the service itself is good, along with customer support, but the mobile experience is lacking.

Cashplus

  • Card Type: Mastercard
  • Monthly Fee: Free or £9 per month
  • Eligibility: UK-based, both sole traders and limited companies accepted
  • Rewards: 0.5% cashback on the paid plan
  • Non-Sterling Rates (Card Payments): Free on the paid plan

Pros:

Cons:

Cashplus Pricing Plans

Pricing PlansGoExtra
Subscription Fees£0£9 per month
Additional Cards / Users (Excl VAT)

£9.95 card issuing for account holder

£5.95 additional cards (up to 20)

Free card for account holder

£5.95 additional cards (up to 20)

Spending Limits

£500k account balance limit

£500 daily ATM limit

£25,000 single outbound transfer limit

£500k account balance limit

£500 daily ATM limit

£100,000 single outbound transfer limit

Bank Transfers3 transfers for free per month, 30p thereafter20 transfers for free per month, 30p thereafter
ATM Fee

£2 (UK)

£3 (Overseas)

Free
Non-Sterling Rates (Card Payments)2.99%Free
RewardsNone0.5% Cashback on the first £100k card purchases each month
Intro OfferFree additional cardsFree additional cards

Whilst Cashplus offer a free plan (Go), it makes little sense to opt for it given what their paid plan (Extra) offers. For £9 per month, you will have more free bank transfers a month, 0.5% cashback (high limits), free FX and ATM withdrawals, and in-app support

While additional cards come at a fee for both plans (outside of the introductory offer), it’s a one-off fee unlike many competitors, making the Cashplus Extra plan one of the most compelling on the market.

Wallester Corporate Cards

  • Card Type: Visa
  • Eligibility: A legal entity represented by an authorised person who is over 18 years old.
  • ATM Fee: 2.00% in Europe (min £2.00) and £2.00 + 2.00% outside Europe
  •  Non-Sterling Rates (Card Payments): 2.00% (min £2.00)

Pros:

Cons:

Wallester Price Plans

Pricing PlansFreePremiumPlatinumEnterprise
Subscription FeesFree£169.95£859.95Custom
What’s Included

Up to 300 virtual cards included

Unlimited physical cards

Up to 3,000 virtual cards included

Unlimited number of physical cards

Up to 15,000 virtual cards included

9p per month per additional 

Unlimited number of physical cards

All platinum plus Dedicated Account Manager 

Custom contracts and better rates

Additional Cards / Users (Excl VAT)

£5 per physical card

30p per month per additional virtual card

£5 per physical card

18p per month per additional virtual card

£5 per physical card

9p per month per additional virtual card

 

Wallester claims their Premium card to be the most popular plan, but unless you need more than 300 virtual cards, there are no additional benefits to paying the £169.95/month besides access to “email reminders for missing documents”.

The free package comes with good features (API access and unlimited users), but it’s clear that the remaining packages are centred around the number of cards you need. Overall, Wallester has a unique offering which is worth considering, but it requires a custom quote for the additional card pricing.

Pleo Business Expense Card

  • Card Type: Mastercard
  • Eligibility: Not stated but they say they work with “with companies of all sizes, across every industry”
  • Additional cards per month: £5
  • Spending Limits: £12,000 daily limit for topping up
  • ATM Fee: Free – £5
  • Non-Sterling Rates (Card Payments): 1.99% – 2.49%

Pros:

Cons:

Pleo Pricing Plans

Pricing PlansStarterEssentialAdvanced
Subscription FeesFree up to 3 users£39 per month with 3 users included£79 per month with 3 users included
Additional Cards / Users (Excl VAT) 

£12 per user per month

£5 card replacement

£12 per user per month

£5 card replacement

Spending Limits£12,000 daily limit for topping up£12,000 daily limit for topping up£12,000 daily limit for topping up
Bank Transfers   
ATM Fee£5FreeFree
Non-Sterling Rates (Card Payments)2.49%1.99%1.99%
RewardsNone0.5% cashback (for eligible customers). Capped at the cost of subscription1% cashback (for eligible customers). Capped at the cost of subscription

Pleo has three plans to choose from, and each comes with clear pricing and rewards. This makes it suitable for businesses of all sizes, as well as when scaling up, as firms can grow into new tiers. The Starter package is free (3 cards maximum) and you can access Pleo’s software, but in a limited capacity.

It’s important to consider that a core feature — setting spending limits — isn’t available on the Starter package, which will be a deal-breaker for many. Consider how much cashback you will generate, as this could help pay for a better package.

Payhawk

  • Card Type: Visa
  • Eligibility: Registered in UK or EEA and have a minimum of €250,000 in one or more European bank accounts
  • Cashback: Yes but varies
  • ATM Fee: 0.5% (min £2) for debit cards, 2.99% + £5 for credit cards
  • Chargeback fee: £25
  • Non-Sterling Rates (Card Payments): 1.99%

Pros:

Cons:

Payhawk has 3 pricing plans – Premium Cards, All-in-One Spend and Enterprise – but their fees are not disclosed. They do offer cashback on a case by case basis and state that 25% of their customers gets Payhawk for free due to the cashback earned. 

All plans offering a dedicated bank account in EUR, USD, BGN, and GBP, the Payhawk corporate cards are suited to international businesses that have one eye on ESG compliance.  They also offer access up to £500k on credit cards and 38 days interest free. 

Payhawk has very positive reviews on both TrustPilot and the Google Play Store, but its custom pricing means each company needs to weigh it up on a case-by-case basis. The additional costs, however, are competitively priced, and the across-the-board cashback rewards are compelling.

  • Card Type: Visa
  • Eligibility: UK-registered businesses, Prime only available to businesses with £3M+ annual revenue
  • Additional cards per month: Custom
  • Rewards: 0.5% – 1% cashback
  • Non-Sterling Rates (Card Payments): 1.50%

Pros:

Cons:

With no physical card options available, Juni has a unique but limited solution. Before considering the other fees and features, this can only be suitable for some workforces, such as WFH or overseas, where spending is online only.

Considering that virtual cards are often the cheapest part of the service (among its competitors), it’s surprising to see such a high fee that quickly gets out of control with additional users. However, Juni is one of very few business expense card providers to offer uncapped cashback, which may attract high-spending companies, even if they’re not international.

At the core of what Juni is offering is to have multi-currency accounts with reasonable FX fees and an impressive cashback offer. 

Juni offers up to £200K credit for the Scale plans (up to 38 days interest-free) and up to £200M for Prime (up to 60 days interest-free).

Airwallex

  • Card Type: Visa
  • Eligibility: Sole traders and Limited companies registered in the UK.
  • Additional cards per month: £5 per cardholder per month (first 5 come free), £0 for multi-currency virtual cards.
  • Spending limits: $50,000 or equivalent default transaction limit.
  • Bank transfers: Free local transfers, Free direct debits, £10-20 SWIFT transfers.
  • Non-Sterling Rates (Card Payments): 0.5% above interchange FX rates for 11 major currencies including GBP, EUR and USD. 1% above interchange FX rates other currencies.
  • Rewards: None

Pros:

Cons:

Airwallex offers a lot of features for no subscription fee. The corporate card is incorporated into a broader business account, meaning you can also accept international payments. The pricing structure is ideal for small or growing companies, as it’s mostly pay-as-you-go. However, this may be needlessly overwhelming for those looking for just a prepaid spending card.

Subpar mobile app reviews (3.3 stars on the Google Play Store) and no rewards may deter some businesses.

Wise Business Expense Card

  • Card Type: Debit card
  • Eligibility: UK businesses
  • Subscription Fees: £45 per account application
  • Additional Physical Cards / Users (Excl VAT): £3 (unlimited users)
  • Spending Limits: £45,000 per month and £4,000 ATM withdrawals per month
  • Bank Transfers: From 0.43% (sending) and 2% when topping up e-wallets & some external accounts
  • ATM Fee: Free for withdrawals under £200 per month and 1.75% + 50p on withdrawals over £200
  • Non-Sterling Rates (Card Payments): From 0.43% FX fee
  • Rewards: 0.5% Cashback

Pros:

Cons:

Wise offers a strong debit card (not a prepaid card) that excels when spending overseas. The biggest advantage that Wise has, unlike Pleo, Soldo, and many others, is its lack of monthly fees – everything is one-off. 

Wise is often applauded for being transparent, but some fees are varied and information about the service is spread across many different blog articles, as opposed to a single page.

There’s no limit to users, and 10 currency bank account details can be generated. With the 0.5% cashback, Wise puts forward a strong case for smaller international businesses that need a simple solution.

Card One Money Business

  • Card Type: Mastercard
  • Eligibility: Business registered in the UK (non-UK registered businesses can be considered)
  • Additional cards per month: 4 Additional cards per account (5 total)
  • Rewards: Earn up to 3.5% cashback at top UK retailers
  • Non-Sterling Rates (Card Payments): 1.50%

Pros:

Cons:

Card One Money Pricing Plans

Pricing PlansBusinessCorporate
Subscription Fees

£55 Application Fee

£12.50 per month

Custom
Additional Cards / Users (Excl VAT)£5 per month for additional cards
(maximum of four)
£5 per month for additional cards
(maximum of four)
Spending Limits£5,000 card balance limitUnlimited
Bank Transfers

30p next-day online & direct debit

£7.50 same-day online

£30 international payment

Custom
ATM Fee

£1.50 (UK)

£3 + 2.75% (Outside UK)

£1.50 (UK)

£3 + 2.75% (Outside UK)

Non-Sterling Rates (Card Payments)2.75%Custom

 

Although there are fees for this account, this product is available to individuals with no credit checks (all Card One Money needs to do is verify the applicant’s identity and residency).

This is useful for customers who may not be eligible for traditional bank accounts due to poor or no credit history. It’s also available for newly established businesses yet-to-trade, and non-UK registered companies can also be considered

RBS onecard

  • Card Type: Not stated
  • Eligibility: RBS Business current account and turnover above £2 million
  • Annual fee per cardholder: £45
  • Non-Sterling transaction fee: 2.95% of transaction value
  • Cash advance fee: 2.95% of the transaction amount (minimum £2.95)

Pros:

Cons:

The RBS onecard is slightly different to its competitors in that, whilst it is a charge card, it can go into debt, which incurs 1.60% monthly interest if the balance isn’t fully cleared. This introduces as many challenges as it does opportunities, as it erodes the purpose of a prepaid card. 

When it comes to features, it’s a safe, middle-of-the-road option. RBS uses the ClearSpend software, much like the RBS credit card. There are some other benefits like the insurance and VAT simplicity, but they come at a relatively high and sunken annual cost. When staff turnover is high, the annual fee structure could become a problem.

What is a prepaid card for business?

A prepaid card is a card that is loaded with funds, similar to a personal debit card. A key difference is that it can be issued to various employees to use for business expenses. While there are some similarities to a joint personal account, business prepaid cards have a clear divide in access and authority; the account owner can set limits and rules that employees cannot alter. Business prepaid cards must be used for business expenses only.

Benefits of Businesses Expense Cards

Improved expense tracking

A competent prepaid card provider will allow for real-time monitoring of spending, meaning you can always access this information from your phone or laptop. This means you can check what merchants you paid, how much, and when. Some companies may categorise this spending automatically, providing more insight into your business spending.

Greater control over expenses

Companies can set limits on each employee’s card, restricting them from overspending. It’s often possible to limit certain categories of spending or outright block some merchants. An advanced feature to consider is requiring pre-authorisation over certain expenses.

Easier Cash flow management

Expense cards do not allow personal spending, meaning you can analyse your outgoings more immediately. Both the tracking and control benefits lead to better cash flow management.

Reduced fraud risk

Most prepaid cards have advanced security features and fraud protection technology. However, even some of the softer features like the ability to freeze cards and real-time alerts can drastically contain the threat of fraud.

Simplified reimbursement process

Reimbursing employees for business expenses can be an administrative burden for both the employee and business. Prepaid cards eliminate the need for employees to use their own money — it reduces the resources required to submit, read, count, and verify those expenses. 

Reporting and compliance

Prepaid cards help maintain compliance and high reporting standards. The software used can often automate the categorisation process, helping create accurate and timely financial reporting.

More transparency and accountability

Providing employees with their own dedicated card can help create a culture of accountability. Features like real-time notifications of employee spending and the sharing of data can boost transparency.

Greater flexibility

Prepaid cards are generally quite flexible, meaning they can accommodate different budgets and types of spending, as well as being suitable for both employee expenses and core business overheads.

Pros and cons of a prepaid card

Pros:

Cons:

How are prepaid business cards typically used?

While in theory prepaid cards could be used for business overheads, its most common use is for smaller purchases such as travel, fuel, supplies, petty cash, corporate entertainment, and online purchases. This consolidates all expenses into a single account which can be overseen, categorised, and reported on efficiently.

How to compare business prepaid cards

It is worth comparing the following when comparing the best business expense cards:

  • Eligibility (some providers and/or pricing tiers have minimum turnover requirements). 
  • Fixed monthly fees for each pricing plan (and number of users included in each plan)
  • Fees for additional physical and virtual cards (above those included in pricing tier)
  • Foreign exchange fee added on to non-sterling transactions
  • Foreign exchange rates 
  • Card balance limits
  • Spending limits per day, month or year
  • Flexibility and control
  • Rewards (cashback and partner rewards)
  • Reporting and expense management functionality expense management and accounting)
  • Integrations possible with expense management and accounting software

What is the maximum balance?

The maximum balance limit differs widely between business expense card providers. For example, Card One has a maximum card balance of £5,000, while Cash Plus has a maximum of £500,000. Generally, it is often companies that offer business expense cards as part of a broader suite of business finance solutions, like payment processing and multi-currency accounts, that often have higher limits. 

It’s important to consider that many prepaid business card providers are not banks, and FSCS deposit protection is not guaranteed.

How do business prepaid cards work?

After being approved, you and your chosen employees receive individual cards, and you assign roles and limitations to them. Some companies lack these features, but the core use case for a prepaid card is to deposit funds, place limitations on each card, and begin using them for business expenses.

How to choose the best prepaid business expense card

The best prepaid card will depend on your business profile and activity. The primary consideration is the number of employees you want to issue cards to, as this is where some services can become very expensive.

Do not rule out any options at this stage, as some expensive options may have generous cashback rewards that can recoup the entire subscription cost (or more). It’s important to consider whether you will be frequently spending money online, using ATMs, or paying internationally, as these additional costs can vary.

If you frequently receive money internationally, it may be worth considering a card option that is part of a broader FX payment solution, such as Wise and Equals Money. A good multi-currency account that cuts down on FX fees may be more important than deciding solely on the spending card attributes.

Alternatives to prepaid business card

FAQs

No, prepaid cards cannot access credit as they require a balance to be deposited. This further improves the business’s control over spending

They can typically be used to pay for goods and services in shops, online, and withdraw cash. Occasionally, a provider will not allow ATM withdrawals, and some, like Juni, only offer virtual cards, limiting spending to online and over the phone.

Yes, there are a few different fees to consider. The issuing of a card itself may cost, and some providers may charge a subscription fee. ATM withdrawals, FX exchanges, and bank transfers sometimes incur a fee too.

Prepaid cards are generally considered to be secure as they follow basic fraud protection, PIN security, and card-freezing protocols. The level of security can depend on the provider and in the worst-case scenario, potential losses are limited to the balance on the card as there is no credit.

Most commonly you apply through the provider’s website and provide them with business details and evidence of your identity. Some providers will require a phone call.

Most providers allow international spending, but many will charge a fee for non-sterling transfers or purchases.

Yes, a key benefit of prepaid cards is that most providers can issue many cards to employees, each with their own limits and budgets.

While there are some exceptions, you can usually withdraw cash from a prepaid card in a similar way to a personal debit card. The provider may or may not charge a fee, and it’s also important to check if the ATM provider charges a fee.

Typically yes, most providers allow international spending, but most will charge a fee for it.

Prepaid cards are usually designed so that users can only spend what is on the balance so they can not go overdrawn. Some do offer credit and charge fees or a monthly interest rate if the credit is not repaid in full within the agreed timeframe. 

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