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What is a fuel card and how does it work? | TrendingResults.com

What is a fuel card and how does it work?

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Fuel cards are electronic payment instruments that can be used to refuel and pay for petrol, diesel or other vehicle fuels. Fuel cards allow you to avoid paying in cash and thus have full traceability of all purchases made on your journeys. The fuel card is usually a prepaid card that is provided by the company to the employee to pay for diesel or petrol during business trips.

Why have a fuel card?

For those with a company fleet, the fuel card is now a valuable and indispensable tool for controlling fuel expenditure, replacing the traditional, and now inefficient, payment methods (cash, credit cards, employee reimbursement).

Only with the fuel card can you get a precise picture of your expenses and know how your company’s vehicles are being used, identifying any inefficiencies that need to be addressed, such as better vehicle maintenance or more driver training. The fuel card is therefore more than just a payment method: it is the solution that will make it easier to manage company costs in total security.

Saving time and money

Invest your time in other activities. The fuel card takes care of the administration!

It will no longer be necessary to keep receipts, fill in fuel cards, organise VAT recovery. By receiving regular invoices with details of all purchases made, administration will become simpler and more accurate, minimising the risk of errors or inaccuracies. By using a fuel card, all transactions will be recorded, allowing detailed monitoring of expenditure. Any inefficiency of a driver would be immediately identified and could be corrected.

Protection and safety

In addition to efficiency and savings, the fuel card offers major advantages in terms of security:

  1. eliminates the risk of improper purchases by employees as all uses are recorded
  2. employees will no longer have to travel with cash in their pockets, thus avoiding the risk of unpleasant situations.
  3. the secret PIN code protects the card by preventing an outsider from making payments
  4. the spending limits of the cards help you to stay within your spending budget and avoid receiving invoices for too high amounts
  5. with the possibility of choosing the purchase category to be set on each individual card, you will always know what will be purchased and then paid for with company money
Published: 11/26/2021From: Redazione

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