What is a reloadable prepaid card?
A reloadable prepaid card is a type of business debit card you load money onto before making purchases. The amount available for your employees to spend is limited to the funds you load onto the card, which prevents overspending.
You can easily add more money when funds are low using in-built request and approval workflows. Alternatively, you can set up automatic top-ups to ensure your employees always have the funds they need.
What’s the difference between a reloadable prepaid card and a credit?
Reloadable prepaid cards are different to business credit cards in that there’s no credit involved.
Credit cards allow you to make purchases using credit. Spending limits are typically high and there is limited flexibility to change them. You must repay the amount your employees spend within an agreed timeframe. Late repayments accumulate interest charges, potentially creating debt.
With a reloadable prepaid card, you can load the precise amount of money your business can afford to spend. Employees can’t spend more than this amount, eliminating the threats of overspending or debt for your business.
What types of business are reloadable prepaid cards suitable for?
Soldo reloadable prepaid cards are suitable for businesses of all sizes and structures that are incorporated entities. Your plan includes as many cards as you need and you can set up wallets to allocate funds across different departments, teams, projects and individuals. Our easy-to-use software gives you complete visibility and control over spending, no matter how many employees you have.
How secure are reloadable prepaid cards?
What countries are Soldo reloadable business cards available in?
Soldo is available in all European Union (EU) and European Economic Area (EEA) member states and you can use our cards in more than 210 countries and territories.
How do I get Soldo reloadable debit cards for my business?
All you need to do is make a simple online application. Our eligibility criteria are more relaxed than credit cards and doesn’t involve any credit checks. Apply today and your prepaid reloadable cards could be up and running tomorrow.
How long does it take to receive reloadable business cards?
We send your cards via standard post, which can take 5-7 business days to arrive. We can also ship them via DHL Express at an additional cost.
However, you don’t need to wait for them to deliver to start making purchases. Spend instantly using Apple Pay or Google Pay online or by entering your card details for an online payment.
How do I add money to reloadable prepaid cards?
To add money to Soldo reloadable business cards, you first need to make a deposit into your company wallet. There are three ways you can do this:
- Bank transfer, which can take up to 48 hours for GBP/EUR and up to 5 working days for USD
- Faster Payments (BACS), which typically appears in the wallet immediately
- PayPal, which can take up to 30 minutes for instant transfers or up to 5 working days for standard transfers
Once the deposit to the company wallet is accredited, you can instantly transfer funds to your employee’s wallets. You can also ensure your team always have access to funds by setting up automatic top-ups.
How do I check the balance on reloadable business cards?
You can check the real-time balance of your account or each card and wallet via the Soldo website or app. Alternatively, you can check your balance by text or at an ATM.
What if a reloadable prepaid card is lost, stolen or broken?
You can report a lost, stolen or broken card in the web console or the mobile app, as well as reactivate or replace it. You can also lock a card through the mobile app to instantly prevent spending.
These features and Soldo’s real-time balances and spending notifications help protect you from fraud and theft. If you suspect one of your reloadable business cards has been used fraudulently, though, we’ll investigate and work with you to resolve the situation swiftly.
What if I want to stop using prepaid reloadable cards?
You’re free to close your Soldo account at any time, though we’re confident you’ll love our service.
If you do decide to leave, you can do so by contacting the support team via live chat or via email. We’ll cancel your account, block reloadable business cards and transfer all the funds back to the bank account from which you originally deposited them.