When it comes to managing the expenses and security of fleet vehicles, fleet cards offer distinct advantages over other payment options. While they are known for helping save money at the pump, fuel cards are much more than a convenient way to fill up at gas stations.

Traditionally, companies have relied on cash and credit cards yet, these methods have their limitations as they can be cumbersome, prone to theft and challenging to track. A fleet fuel card is a powerful alternative to credit cards and cash. Designed specifically for businesses operating fleets of vehicles, fleet cards offer a variety of features that help manage fuel expenses, control company spending and save money through:

  • Enhanced security
  • Customizable purchase limits
  • Automated expense tracking and reporting

Fleet cards are the ideal payment solution for businesses that rely on cars and trucks to keep things running.

Enhanced Security Features

Fleet Cards for Reduced Fraud Risks

Most fleet cards are equipped with robust security features that help with fraud prevention. Unlike cash or credit cards, fleet cards can be customized to only authorize specific purchases, such as fuel or maintenance services. This level of control deters unauthorized spending and reduces opportunities for fraud.

Additionally, many fleet card providers offer real-time transaction alerts, enabling businesses to promptly detect and respond to suspicious activity. These alerts are often customizable, so you get alerted about what you want to know when you want to know.

PIN Protection with Fleet Fuel Cards

Many fleet fuel cards use Personal Identification Numbers (PINs) to bolster security. These unique PINs can be assigned to a card or individual driver. The additional verification must be entered before a transaction can be completed, ensuring only authorized personnel can use the card. Personal Identification Numbers reduce the risk of unauthorized access or theft.

Using cash for fueling means you lack any form of protection, and credit cards often require only a signature, which can be easily forged.

Increased Control Over Expenses

Customizable Spending Limits with Fleet Fuel Cards

Fleet cards help businesses establish and enforce strict spending limits on a per-driver or per-vehicle basis. These limits can be adjusted in real time, allowing greater control and flexibility. Common purchase controls with a fleet fuel card include:

  • Fuel-only setting: Only allow fuel purchases.
  • Fuel and related expenses: Including maintenance and service-related expenses.
  • Transaction limit: Control how many times a card can be used in a given timeframe (by day, week or month).
  • Limit by purchase amount: A set dollar amount per transaction, per day, week or month.
  • Volume amount: A set gallon amount per transaction and per day, week or month.
  • Card usage limits: Set time of day or days of week a card can be used.
  • Location limits: Only approve certain fueling brands or certain geolocations.

In contrast, credit cards often have predetermined spending limits and no customizable spending controls. With a credit card, cash transactions are nearly impossible to monitor and cannot be regulated in real time.

Restricted Merchant Categories

Fleet cards can be configured to allow purchases only at select merchants or within specific categories. This prevents drivers from using the cards for personal expenses or at unauthorized vendors, ensuring that a business’ funds are spent solely on approved purchases.

Comprehensive and Automated Expense Tracking and Reporting

Streamlined Expense Management with Fleet Cards

Fleet cards automate the expense tracking process, meaning your business can access detailed reports on fuel consumption, maintenance costs and other vehicle-related expenses. All this information is tracked in real time and housed in your business fleet card (fuel card) dashboard.

This data can be used to identify inefficiencies, optimize routes and make informed decisions about fleet management. Credit cards and cash transactions, on the other hand, require manual record-keeping, are prone to human error and require hours of accounting time.

Data-Driven Insights from Fuel Cards

With all your data housed in your dashboard, you have access to a wealth of data. The information generated by fleet cards can be harnessed to uncover valuable insights about driver behavior and vehicle performance. Using this information, fleet managers can implement targeted cost-saving measures, such as:

  • Identifying underperforming vehicles
  • Addressing fuel inefficiencies
  • Improving driver performance

Customized Reporting with Fleet Cards

In addition to the automated expense reporting and real-time data, fleet cards give you access to a host of both standard and customizable reports. This means your fleet managers can track exactly what they want to with the detail needed to understand every aspect of fuel spend. Common fleet card reports include:

  • Monthly expense summary
  • Fuel usage
  • Tax reports
  • Detail reports for drivers, vehicles, date window and more
  • Fuel economy
  • Mileage
  • Customized reports for specific employees or vehicles

Additional Benefits of Fleet Cards

While fleet cards are safer and offer more control over fuel spending than other forms of payment, they also provide additional benefits.

Improved Cash Flow Management

Consolidating your vehicle-related expenses into a single account simplifies cash-flow management. Some fleet cards offer flexible payment terms allowing for better financial planning. In comparison, cash transactions are difficult to track and reconcile, and credit cards often come with higher rates and fees.

Fleet Card Tax Compliance and Reporting

Fleet cards facilitate compliance with tax regulations by providing detailed, itemized reports with relevant tax information. These reports are easily exported and integrated into accounting software, streamlining the tax filing process. Cash, however, can be challenging to document and verify, and credit card statements often lack the necessary level of detail for tax purposes.

For drivers, fleet cards offer a seamless experience — these cards can be used at a wide range of fuel locations and maintenance shops. Fleet cards eliminate the need for drivers to carry cash or submit expense reports, reducing administrative burdens. In contrast, cash transactions require drivers to collect receipts and submit expense reports, while credit cards may not be accepted at all locations.

Fleet Cards Offer Access to Discounts and Rewards

Many fleet card providers offer exclusive discounts and rewards in addition to fuel rebates. These incentives can help companies save on fuel and maintenance costs, further increasing the value of fleet cards. While some credit cards offer rewards, they are typically not tailored to the unique needs of fleet-based businesses, and cash transactions do not provide any additional benefits.

Environmental Benefits of a Fleet Card Program

By promoting better fuel efficiency and reducing paper waste associated with cash transactions and expense reports, fleet cards contribute to a more sustainable and eco-friendly fleet management approach. This not only benefits the environment but also helps businesses improve their corporate social responsibility and enhance their brand image.

Fleet Cards are a Better Way to Pay for Fuel

Fleet cards offer various benefits that make them a superior choice for businesses operating fleets of vehicles. From enhanced security features and increased control over expenses to comprehensive expense tracking and reporting, fleet cards give companies the tools necessary to optimize fleet management.

In comparison, credit cards and cash transactions fall short in several areas, including security, control and convenience. By using fleet cards, businesses can unlock potential savings, streamline operations and enjoy a more efficient and effective fleet management experience.

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