Credit Cards
Expense Cards
Fuel CardsNone
Tide Banking
Expense Card
Tide Banking
Expense Card
Airwallex
Borderless Card
Airwallex
Borderless Card
Monthly Fee
None
Transaction Fee
None
UK ATM Fee
Not Allowed
International ATM Fee
Not Allowed
Company and employees can be issued cards physically and virtually
All expense on the cards are integrated to the Airwallex expense management.
*10% cashback on the first $1000 international card spend. TCs apply
Equals Money
Equals Money Account
Equals Money
Equals Money Account
Our comparison service features a selection of providers from whom we receive commission. This table is ordered according to our commercial arrangements.
What are Business Expense Cards?
In a fast-paced business environment, managing expenses can be a daunting task. Keeping track of receipts and reconciling expenses can be time-consuming and cumbersome, but expense cards offer a valuable solution to these challenges.
Business expense cards work similarly to business credit cards. They allow employees to make purchases on behalf of your company while making it easier to track and manage expenses. They're typically accepted by any merchant that accepts credit cards, meaning employees can use them in many locations.
Business Credit Cards Versus Business Expense Cards
Business credit cards and expense cards are both valuable tools for managing business expenses, but they have some key differences:
Business Credit Cards
Credit cards typically offer higher credit limits than expense cards and rewards programs, making them a good option if your business processes significant expenses.
Business Expense Cards
Although they seem similar to credit cards, expense cards are designed specifically for tracking and managing employee expenses. Because of these features, they offer more control and customisation options than business credit cards.
Choosing between these two payment card types depends on your business's needs and spending habits. A credit card may be best if you require a higher credit limit. If you want increased employee expense management, expense cards are likely a better choice.
Should You Apply for Business Expense Cards
If you want to improve your expense management processes, consider applying for Business Expense Cards. Expense cards offer many benefits, including a streamlined way to manage expenses, increased transparency, cost savings, and enhanced security.
But which expense card is best for your business? At BusinessComparison, we make it easier to find and apply for the best finance options available to your business, making it easier to compare and decide.
Business Expense Cards FAQs
An expense card is a payment method that employees can use to pay for company expenses. They also help you monitor and control company spending. Expense cards typically include the following features:
Real-time spending notifications
Online account management
The ability to set spending limits
Rewards programs
Cashback offers
Expense cards can be used by businesses of all sizes, from small startups to large corporations, to streamline expense management processes and reduce the administrative burden of tracking and reconciling expenses.
Put simply, expense cards streamline your business expense management. Here are some important things to know about how they work:
You can issue expense cards to as few or as many of your employees as you want.
Employees can use expense cards to make purchases.
Merchants that accept debit and credit card payments should also accept expense cards.
Transactions made with expense cards are typically automatically logged and categorised in an expense tracking system.
You can implement spending limits and other controls to help manage costs and prevent fraud.
Some expense cards feature rewards schemes and cash back for qualifying purchases.
The eligibility criteria for an expense card vary depending on the status of your business, including the following criteria:
The size of your business
How long your organisation has traded for
The credit status of your business
Depending on the expense card provider, it's likely that you'll encounter other eligibility criteria. However, if your business has yet to have issues with finance applications, you'll unlikely experience issues applying for expense cards.
Expense cards offer businesses many benefits, including the following:
Improved expense tracking and management
Manage all of your business expenses in one place, making it easier to keep track of spending and manage business finances.
Increased employee spending control
Set spending limits and restrictions, ensuring employees only spend money on approved expenses.
Reduced paperwork and administrative tasks
Eliminate the need for employees to submit expense reports and for your finance team to process and reimburse expenses.
Access to rewards and discounts
Many expense card providers offer rewards programs and discounts on business purchases, providing potential savings for the company.
Enhanced security
Expense cards typically have built-in fraud detection and protection features, reducing the risk of unauthorised charges or fraudulent activity.
Managing and tracking expenses is a crucial part of maintaining the financial stability of your business. Expense cards help you easily track expenses and create a budget for your business. The following tips demonstrate how you can use expense cards to manage business expenses:
Set a budget
Decide how much your business can afford to spend on expenses and set limits using expense cards to avoid exceeding your budget.
Expense categories
Putting expenses into categories such as food, entertainment, and transportation helps you track spending and identify areas for improvement.
Expense management automation
Automation tools help you manage your expenses by automatically categorising expenses.
Check spending activity
Regularly checking spending activity on expense cards can reduce the volume of unauthorised charges or errors before too many occur.
Spending review
Whether you wait until the end of each month or choose more frequent intervals, you should review company spending and adjust as needed to avoid going over budget.
These tips should help you manage and track your expenses using an expense card.
