How to Get a Fuel Card

In today’s dynamic business world, managing fuel expenses efficiently is crucial for companies of all sizes. Business fuel cards offer a smart solution to this challenge, providing businesses with better control over their fuel spending and valuable insights into their fleet operations. In this guide, we’ll explain how to get a fuel card, who’s eligible, and why it might be the right choice for your business.

Who Can Get a Fuel Card?

The good news is that fuel cards are accessible to a wide range of businesses. Typically, any VAT-registered company can apply for and get a fuel card. This includes:

• Small businesses with just a few vehicles
• Large corporations with extensive fleets
• Self-employed individuals who use vehicles for work
• Logistics and delivery companies
• Construction firms
• Service-based businesses with mobile technicians

It’s worth noting that fuel cards are designed primarily for business use. Their benefits are particularly significant for companies that have regular fuel expenses and want to streamline their fuel management process.

Can You Get a Fuel Card Without a Business?

While fuel cards offer numerous advantages, they are generally not suitable for personal use. Most fuel card providers, including WEX, require applicants to have a registered business. This is because fuel cards are designed to meet the specific needs of businesses, offering features like:

• Detailed reporting for tax and accounting purposes
• Ability to set spending limits for different drivers or vehicles
• Integration with fleet management software
• Potential for discounted fuel rates

If you’re not a business owner but are looking for ways to save on fuel, you might consider loyalty programmes offered by specific fuel retailers or credit cards that offer cashback on fuel purchases.

What is the Process of Applying for a Fuel Card?

Getting a fuel card for your business is a straightforward process. Here’s a step-by-step guide on how to apply for a fuel card:

1. Assess Your Business Needs

Before you begin the application process, take some time to evaluate your fuel requirements. Consider factors such as:

• The size of your fleet
• Your average monthly fuel spend
• The geographical areas where your vehicles operate
• Any specific features you need, such as the ability to purchase non-fuel items

2. Research Fuel Card Providers

Research different business fuel card providers, prioritising your needs. Look for ones that offer coverage in the areas where your vehicles operate and provide the features you need. WEX offers a range of fuel card solutions suitable for businesses of various sizes and industries.

3. Check Your Credit Rating

Most fuel card providers will perform a credit check as part of the application process. It’s a good idea to review your business credit rating beforehand to ensure there are no surprises.

4. Gather Necessary Documents

To apply for a business fuel card, you’ll typically need to provide:

• Your company registration details
• VAT number
• Bank account information
• Details about your fleet size and fuel consumption

5. Submit Your Application

Once you’ve chosen a provider, you can usually apply online. For WEX, the process is quick and easy. Simply visit our application page, fill in the required information, and submit your application.

6. Wait for Approval

After submitting your application, the fuel card provider will review it and perform necessary checks. This process usually takes a few business days.

7. Receive and Activate Your Cards

If your application is approved, you’ll receive your fuel cards in the mail. Follow the provider’s instructions to activate the cards and set up your online account to manage your fuel expenses.

At WEX, we strive to make the application process as smooth as possible. Our team is always ready to assist you with any questions you might have about how to get a fuel card, or which solution might be best for your business.

The Benefits of Fuel Cards for UK Businesses

Fuel cards are understandably becoming increasingly popular among UK businesses. According to recent data, companies using fuel cards can save an average of 3p per litre compared to pump prices. For a business with a fleet of vehicles, these savings can add up significantly over time.

But the benefits go beyond just cost savings. Fuel cards offer:

• Simplified expense management: No need to collect and process individual receipts
• Enhanced security: PIN protection and the ability to set spending limits reduce the risk of fraud
• Detailed reporting: Get insights into your fuel spending patterns and driver behaviour
• Time savings: Drivers can focus on their jobs instead of managing fuel expenses
• VAT reclaim: Easier VAT reclaim process with comprehensive, HMRC-compliant invoices

Conclusion: Fueling Your Business Success

Getting a fuel card is a smart move for businesses looking to optimise their fuel management and reduce costs. By following the steps outlined in this guide, you can easily navigate the process of applying for a fuel card and reap the benefits for your business.

Remember, the right business fuel card solution can do more than just save you money on fuel – it can provide valuable insights into your fleet operations, simplify your accounting processes, and give you more control over your fuel expenses.At WEX, we’re committed to helping businesses of all sizes manage their fuel expenses more effectively. Whether you’re a small business owner or managing a large fleet, we have a fuel card solution to meet your needs. Apply for a WEX fuel card today and take the first step towards smarter fuel management.