How To Get The Best Fuel Card

For business owners, fuel cards can really help you run your fleet more efficiently and save money. They act like simple payment cards that you and your drivers can use to pay for petrol and diesel, and other products like tolls and car wash, where approved by the card owner.

Fuel cards make it easier for you to manage your fuel spend. Every fuel transaction is recorded so reports can be run to pinpoint any inefficiencies in your fleet’s fuel usage. Using a fuel card scheme reduces your time spent on administrative tasks like recording usage of fuel, gathering fuel receipts or expense forms from staff and comparing them with time sheets.

You can monitor your fuel card transactions, reducing the risk of fuel fraud. Cards are pin protected for more transaction security. They can also be matched to a driver or vehicle registration number. For further security, you can set a cap on daily spend permitted.

There are a number of fuel cards available on the Irish market. Depending on the card and provider, your fuel card can be used at a network of fuel stations in Ireland, the UK and around Europe. When selecting the best fuel card provider for your business, there are a number of factors you should consider. To get the most out of a fuel card, you need to find the card that is best suited to your business. Follow these steps to find the right card for your business!

1. KNOW YOUR FLEET

Consider your fleet size, the region you travel and your average fuel spend.

2. USE A FUEL CARD COMPARISON TOOL

You can use an online fuel card comparison tool like iCompario to research what’s available in Ireland. The site has a handy search facility where you can add details of your business to find the best available card for your usage and fleet.

3. FIND THE BEST COVERAGE FOR YOUR NEEDS

Check the coverage of your fuel card is enough to satisfy your business needs. Find a fuel card with the best coverage and network of sites. For example, do you need a fuel card for the Republic of Ireland only, or do you need coverage in the UK and perhaps pan-European?

4. PAYMENT OPTIONS

There are two main payment options for fuel cards – weekly fixed rate and pump related price – with each bringing their own benefits so choose wisely depending on your business!

The pump price related fuel card means you are simply charged the price displayed on the pump. Depending on your fuel card provider or volume drawn you may be able to get discounts on the pump price. Other providers may include a surcharge on the forecourt price. This price may change from day to day and can also vary depending on where your drivers refuel. The main benefit of a pump price related fuel card for smaller fleets is the extensive network coverage, with more service stations accepting pump price related fuel cards, drivers have greater flexibility for refuelling quickly without any unnecessary detours.

With a fixed price card your fuel rate is determined by the diesel wholesale price and fixed for the week. No matter how much the retail rates shift throughout the next seven days, your rate won’t change. Prices are emailed to you in advance, usually on a Friday for the week ahead. The fixed price fuel cards are particularly suited to hauliers, large fleets and high-volume users. Despite having a slightly smaller network than the pump price cards, the fixed price sites are strategically located along all major transport routes.

5. GET USEFUL ADD-ONS

Many fuel cards now offer online management software so you can log in from anywhere. Choose a fuel card provider which offers the most comprehensive and robust online management tools and service station locators. The best options are those that can be downloaded as an application to smartphones or any internet enabled device. You can manage your fleet and workforce from wherever you are and your drivers can use it to easily find the closest, suitable service station along their route for convenient refuelling. You can monitor transactions by card, vehicle or driver, order additional cards or cancel lost cards quickly and easily, and run reports to monitor the efficiency of your fleet. All done conveniently from desktop, tablet or a smartphone!

Caroline Kidd