Cash passports simplify spending and save time for employees on the ground and finance teams. Find the best options and discover better alternatives.
Empower employees to spend what they need with their own prepaid Mastercard, while you stay in control of the funds
Complete visibility, ring-fenced budgets and custom limits mean there’s no risk of overspending
Save hours on admin and skip month-end surprises with automated spend tracking and reporting
Access lower fees while saving time spent on accounting by joining Soldo today.
Manage spending on prepaid cards
Empower employees to spend responsibly; define budgets and track spending in real time, from anywhere.
Automate your expense admin
Stream transactions, receipts, and other data right into your accounting software through smart integrations.
Effortless bookkeeping
Track in real time on desktop and mobile; flow data into accounting systems automatically.
Even the best-planned business trips can become a tangled maze of spending.
As well as the more predictable stuff – accommodation, transport and food – there are also plenty of unforeseen expenses. A last-minute dash for a new laptop charging cable or even a bit of spontaneous client entertainment to toast a new deal can make tracking tricky.
Asking staff to cover these costs with their own money can land them in personal financial trouble and isn’t good for morale. If they’re worried about money while on a trip, your staff may be more likely to take risks or skip essential spending that might put your business relationships in jeopardy.
You want your people prepared and empowered with the resources they need to do good business on their trips away. In these situations, a prepaid cash passport comes in handy.
Recreational travellers have been using cash passport cards for years to simplify their spending – after all, who wants to worry about exchange rates and bank fees while on holiday?
You want your people prepared and empowered with the resources they need to do good business on their trips away.
Multi-currency means they work across multiple currencies (generally with additional fees).
They work by enabling you to give each staff member access to their own spending account and card that they can use while they are away on business.
That means that your team can manage their own spending while increasing their accountability, saving you time and giving you complete control.
Until recently, these cash passports haven’t had the features that businesses need to make it worth their while when it’s time to do the expenses reports.
Now, many UK businesses are using cash passports to make company spend much easier while travelling.
The most popular cash passport for business is the Mastercard Corporate Cash Passport, but you might find that there’s another option that better integrates with your existing expenses process.
A few new challengers are giving businesses the perfect balance: the freedom to spend, and powerful tracking and reporting features.
Assigning each team member their own prepaid card is a whole lot easier than reimbursing employees when they get back. It saves them keeping receipts, and it saves you processing them.
Traditional credit cards may make you go through a lengthy process each time you want a new card or bring someone new into the team. With a prepaid cash passport for business, you’re the boss: delegate cards at your discretion.
Choosing the best prepaid travel card for your company usually comes down to two factors: functionality and price. With Soldo, you get advanced features such as accountancy integrations and granular spending controls – and we have plans to suit businesses of any size. Sign up with Soldo today for a prepaid travel card that gives you complete control over business trip spending, great FX rates and much more.
Your card can be in your hands in less than five working days. Get a ‘virtual card’ for purchases that just can’t wait in less than one working day (and generate one instantly if you already have a Soldo account).
Since you’re specifying exactly how much money is on the card at any time, you eliminate shocking incidents of fraud or overspend. If a team member leaves their card on the train, just freeze it or transfer the money elsewhere in an instant. It’s also much lower-risk than loading up your teams with petty cash.
No having to wait for monthly statements (and no more relying on cash). Some, like Soldo, let you integrate seamlessly with Xero, QuickBooks and NetSuite, and export data into any accounting system.
Most multi-currency cash passports will charge foreign exchange fees. Check the fine print on your cash passport to make sure you’re paying a competitive rate.
For example, here’s what Soldo charges for currency exchange services:
Card Foreign Exchange transaction Fee
EUR, GBP, USD
Soldo Pro and Premium 1.00%
1.00% above the latest available interbank rate
Click here for more information on Soldo’s fees >
Powerful cash passport solutions allow you to view and control all aspects of spend through expense management software.
IMPORTANT: Make sure your expenses solution allows you to do all of the above, otherwise you’ll end up spending more.
“Petty cash and reconciling credit cards took a total of 6 days a month. Now it takes me half a day. It’s saving us time! It’s got great flexibility and it makes my life a lot easier”
“When we switched to Soldo, it became obvious that it was quicker and more efficient. There’s a greater feeling of security; we have more confidence in Soldo than the traditional corporate credit cards.”
Choose a plan that fits the way your company spends. Apply in minutes, get going in as little as one working day, and cancel anytime.
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