Fuel Cards

Businesses and corporations know how expensive fuel prices are in today’s economy. In order for businesses and corporations to cut costs, fuel for their fleets would be one avenue. Businesses that have a fleet of cars, company vans and or company trucks on the road every day can be a costly venture. A good way to cut business expenditures is through the use of a fleet fuel card, such as those available from www.fuel-card.co.uk.

A fuel card will help the business to manage their fuel cost and purchases. Fuel cards can also track repairs to any of their vehicles. By setting monthly spending limits on the fuel cards, it allows the business more control over their fleet expenditures. The driver can save on the advertised pump prices for fuel fill ups. There are several criteria that fuel cards take into consideration in order to pass on these savings to the business owner.

Businesses can go through any number of fuel card companies. These companies can help the business to calculate a limit of fuel spending according to what their needs are. They will have to tell the fuel card company how many running vehicles are in their fleet. In order to fit into a company budget, they must take a quick look at their expenses’, one being employee expense. Some helpful information is to know how often vehicles need fill ups.
Some drivers may be more often, so in order to get a good idea; they will have to figure out on an average, how many fuel fill-ups are needed per week. The company should research how many gallons of fuel the drivers need on average per week and then calculate their fuel cost. The business will tell the fuel card company how much they can spend for fuel fill-ups, repairs and other related purchases and essentials. All of this vital information is calculated for the business in order to help them cut their fuel cost.

By Barry Summers

The very fact that you are reading this report right now would suggest that you are either looking at how a Fuel Card can help your business or would like to know more about what options there are available to you.

It could be that you’ve used a Fuel Card in the past but are not doing so right now, are considering one for the very first time or maybe you even have one in place already…whatever your situation, for a Fuel Card to work effectively it is essential that it is the right product for YOU!

Factors to consider when deciding which product (and indeed which supplier) is best go far beyond the price of fuel itself…can the site network meet all your operational requirements, are there any set up/card fees involved, what fuel management & security features are you being offered, do the credit terms fit in with the cash flow of your business? – these are just some of the questions to ask if you want to achieve the complete refuelling solution.

Having encountered just about every conceivable scenario that a transport manager or owner operator could ever come across when looking at the best way to purchase their diesel and petrol, I decided to write this report in order to help the reader cut through the potential minefield of options and information available to them and choose the right Fuel Card for their business from day one.

Fuel costs are more often than not, the first thing that’s raised when discussing the various Fuel Card options with a new prospect so it seems like a logical place to start!

There are a number of Fuel Card products that offer the user a fixed, weekly rate for their diesel. Some of these products are “commercial” Fuel Cards which offer predominantly diesel (although there is one product which offers unleaded petrol) at wholesale rates often linked to the Platt’s pricing mechanism. These cards usually offer the best solution for those looking to save money off pump prices, with savings occasionally as high as ten pence a litre in extreme cases but usually closer to two to three pence below the UK national average pump price.

However, many suppliers have been known to offer artificially low rates in the first instance to gain interest from their prospects and then slowly but surely increase rates over time, often leading to the customer consistently paying rates higher than pump price! One of the key factors you should look out for when opening a commercial Fuel card account is to request a price notification from your chosen supplier. This is normally sent in advance either by email, SMS text or fax, whichever is most convenient. Receiving a price notification allows you to monitor the price movement from week to week and also means you can compare it with national average or individual pump prices at the stations you normally use to ensure you’re continuing to receive a competitive rate.

If a Fuel Card supplier refuses or is unable to send you a price notification, this should set alarm bells ringing, as it probably means they’re reluctant to be up front about their pricing!!

In other instances, fuel may be supplied at a national average rate based on the card suppliers network of sites. This can offer savings for some or result in paying a higher rate for others, it all depends on how keen the pump prices are at the particular outlets the end user draws from. Once again, a price notification in advance ought to be requested to ensure you’re paying a fair rate.

Finally, there’s a number of Fuel Cards that simply offer fuel pricing at the prevailing pump price at the time of the transaction which of course means no savings are made but equally importantly, you’re not charged more than pump price either!

To discover six further tips on choosing the right Fuel Card for your business including information on site networks, online account management, cost centre reporting, security, set up fees and payment terms, please visit the link shown in the resource box below.

I hope that this guide to choosing the right Fuel Card has been of help and made the numerous choices available to you and your business a little easier to set apart from one another!

Nick Staples is the Managing Director for Forecourt Fuels. You can read his full report at Fuel Cards

Fuel Cards are a great way for businesses to purchase fuel for their vehicles, they work in a comparable way to a normal one.

Often you can get a discount on the fuel you buy; the fuel card can be used to gain a discount on the fuel price, especially if it is being used by a large haulage company. You can also obtain fuel at a price that is fixed weekly (very useful at the moment with prices changing so rapidly) which is useful to budget ahead for expenditure.

The Administration advantages include fleet reporting which will outline how many miles your vehicles have travelled and the miles per gallon you fleet has obtained. The VAT system is much simplified which makes claiming back so much easier and whether you own a small business or own a large haulage firm you’ll quickly find that keeping the receipts and filling out expense accounts takes a large amount of time and effort. By using a fuel card system and utilising the computer reports you receive you can cut down your administration overheads and keep a good track of your fleet of cars, vans, lorries or trucks.

Finding the right card for your business is key as some fuel cards are specific to individual fuel brands, e.g. Shell or BP. This is where it is important to take advice and ensure that your vehicles don’t have to go out of their way to fill up, costing you time and money. Dependant on the type of vehicles you run you may wish a petrol card or a diesel card so contact a fuel card expert who will point you in the right direction.

Carl Liver
Fuel card specialists
http://www.fuel-card.co.uk

Fuel cards are available for the purchase of petrol and other fuels at filling stations across the country. They work by the owner holding an account that has to be paid either weekly or monthly. This then allows them to have credit to spend on fuel, which many people and companies prefer because it removes the need for using cash at stations and is far more secure.

So why would you want to use fuel cards? There are many benefits to them, starting with the discounts you can receive. If you own a company that uses a lot of petrol then an account like this will save you money in the long run. With the rising prices in petrol within this country then this really is a massive benefit for those that use a lot of fuel regularly. Another money saving incentive from fuel cards is that they allow the user to choose from all the different fuels, such as Shell, Esso, Texaco and Keyfuels. This also offers better pricing down to the competition in the fuel industry.

As mentioned previously, the security that comes with fuel cards is another massive selling point. This means company drivers eliminate the need to carry cash with them-which is often a security issue. Also this service also stops fraud, which is another attraction to companies that spend a lot of money on fuels. Other benefits include invoicing which will allow companies to keep up to date with their spending as well as being able to recover VAT Tax. Not only are fuel cards available in the UK but they can also be purchased for international use-which can be very useful when there is a language barrier.

So overall there are many reasons why your company may want to look into purchasing fuel cards, mainly for the financial benefits as well as providing security to your drivers. Finally, should you decide to get a fuel card make sure that you purchase one from a reputable seller, who will be able to offer you lots of information about your card and the terms and conditions. Most companies will be really helpful and able to answer any questions or concerns you may have about this way of buying fuel. Each month there is no limit to how much you spend on fuel although most companies recommend that you have an expenditure of around two hundred pounds a month.

Dom Donaldson is a fuel expert.
Find out more about Fuel Cards and the services offered from Forecourt Fuels.

Fuel cards also referred to as fleet cards are a payment method used to settle fuel payments. They operates pretty much like a credit card in that you present it at the point of payment at fueling stations to settle your fuel charges. Fueling cards remove the need for cash when paying for fuel and therefore increasing security.

Though the fuel cards looks very similar to a credit card, there are many differences in their administration and usage.

No Rolling Balances

Unlike credit cards, they do not have a minimum balance payment and a roll over. You are expected to settle the outstanding credit at the end of every period. This enables credit management as you are only able to consume fuel for an agreed period before payments. Therefore, they are not associated with credit crisis. If a client is not able to meet their monthly obligation, the service is immediately terminated.

Interest Free

Unlike credit cards that carry an interest charge, fleet cards are interest free. You only pay for what you have consumed at the end of the agreed period. However, some companies charge a nominal fee every month. Being interest free protects clients from high interest rates associated.

Restricted to Purchase of Fuel and Other Fuel Related Products

The card limit you to the purchase of only fuel. Some may allow you to purchase automobile products such as lubrication and car service. This restriction enables easier administration and better management of the fuel costs.

Payment Term is Shorter

In many cases, payment period is weekly. Some will request a fortnight or monthly payment of the fuel.

Can Customize For Daily Fuel Limits and Fueling Station Restrictions

Their fuel systems allows for company administrators to apply various customized fueling restrictions. The administrator can apply a daily maximum fuel limit for each car depending on the need. You can also restrict the fueling stations that a car can fuel from or even the region where the services can be used.

Fraud Liability is Usually with Client

In most cases, the liability associated with fuel cards is bore by the client. This is different from the credit cards where the default liability of a fraud is the issuing company. However, since they are restricted to fueling only, and you can determine maximum usage per day or per week, the fraud risks associated is much less.

Cancellation and Activation is not Instant

One of the major limitations currently faced by fuel cards companies especially in the UK is that activation and cancellation of the service takes some time. Unlike credit cards that activation is instant, it at time takes a few days before getting accepted in all related fuel stations. This also applies to cancellation. However, some companies are starting online activation and cancellation to speed up process.

Price and administration benefits

A major advantage of fleet cards is that you purchase fuel at a discount usually at the wholesale price. The fuel cards also have a royalty points scheme to reward client loyalty. Besides the cost savings, the fleet cards company provide systems and data that enable administration of the fuel expense to work better. They also provide statistics that are important for decision making especially for fleet related companies. Another advantage for companies is that the invoice provided to the company clearly indicates the VAT costs and thereby easing the process of tax recovery.

Fuel Cards is the leading Fleet Cards company in the UK. Our services cover a wide network of fuel stations across the EU region. Our payment system provides advanced reporting and customization features that greatly improve your fuel expense information, controls and reporting.

If you have a mobile workforce or logistics company, you know the hassle of keeping a record of expenses on fuel. Whether it is about a few company cars or a fleet of trucks, it becomes so difficult to check if the driver is not cheating on you or track the monthly consumption of fuel of your vehicles. Well, there is a solution for every problem. You can have fuel cards for your vehicles so that you may keep a record without any problem. There are various types of fuel cards available for this purpose and these can be used at all the major fuel stations for refilling of fuel in the vehicle. Now, there is no need to carry cash for petrol or diesel any more. Also, the fuel card will be protected with PIN and so there is no chance of misuse.

Some of the major fuel cards are -

Shell euroShell cards – This fuel card can be used at 2000 sites which makes it highly accessible and convenient. With 15 days credit and 30 days interest free repayment, you will surely find it a good saving. Wholesale prices will be applicable for diesel while using this card.

Texaco fuel card – This card is valid for 1500 sites all around UK. With this card, you can buy diesel, petrol or lubricants on 15 days credit without paying any interest for 30 days. The best benefit of this fuel card is that you can buy diesel at weekly wholesale prices, which is definitely a lucrative offer. The 24×7 accessible accounts can help you in checking the usage of the card anytime and anywhere. You can avail this card for free of cost and no fees will be charged for the usage as well.

With this card, you can only access through 1500 sites which is less in comparison to the Shell euroShell card.

UK fuel card – This card can be used at 800 sites for your convenience. The weekly wholesale prices for diesels will be applicable with this card. You can also know about the current or wholesale prices which can be emailed to you. This fuel card is valid for the purchase of diesel and lubricants only. The most attractive benefit with this card is that you can get an invoice for the total consumption along with all the details like, mileage record, time, date, registration, site used and quantity refilled. So, you do not have to keep a separate record for all these factors. The records can be tracked at any time through internet. Also, PIN protection for this card will be provided at the time of purchase.

There are few drawbacks for this type of card in comparison to the Shell euroShell card and Texaco card. You cannot buy petrol with this UK card. Also, the accessible sites are 800 and you might find some problem in finding them.

Carl Liver

For petrol cards and fuel cards visit Cambrian fuel cards