Managing business expenses shouldn’t feel like herding receipts, chasing approvals, or worrying about card misuse. Yet for many UK businesses, that’s still the reality, especially for growing teams and remote-first operations. Traditional corporate cards and outdated processes leave too much room for overspending, poor visibility, and hours lost to manual admin.
That’s where virtual expense cards come in.
These smart, digital-first cards offer real-time control, built-in spending limits, and instant issuance, giving finance teams the transparency they need and employees the flexibility they want. Whether you’re trying to track marketing spend across multiple channels, manage recurring software subscriptions, or empower staff to buy what they need without delay, a virtual card can simplify everything.
This guide will walk you through the best virtual expense card providers for UK businesses in 2025. We’ve compared platforms on key features like spend controls, integrations, ease of use, and fees, so you can find the right fit for your business, without the guesswork.
What are the Best Virtual Expense Cards for Businesses?
Revolut, Soldo, Pleo, and Payhawk stand out as leading providers of virtual expense cards in the UK. Each is tailored to meet different business requirements.
Revolut is particularly effective for startups and SMEs seeking a holistic tool with robust integrations. Its seamless compatibility with accounting and HR systems significantly simplifies expense management. Businesses focused on operational efficiency will find the platform’s real-time notifications and intuitive interface extremely advantageous.
Soldo excels in serving larger enterprises and finance teams requiring granular spending control. It supports setting precise spending limits and streamlined approval processes, which are crucial for maintaining budget compliance. A key benefit for active finance teams is their capability to eliminate the need for manual reimbursements.
Pleo best suits companies that value transparency and wish to empower their employees. It allows staff to handle their expenses autonomously while maintaining managerial oversight through features like automated receipt capture and instant analytics. The platform is user-friendly and offers cashback incentives, enhancing its appeal.
Payhawk offers significant advantages for businesses with international operations. It supports transactions in multiple currencies and boasts extensive global coverage, making it a flexible option for worldwide dealings. Businesses can also benefit from its strong focus on security and automated reconciliation processes, which are essential for managing complex financial activities.
Virtual Expense Cards for Businesses Compared
| Provider | Best For | Standout Features | Pricing Tiers | Learn More |
|---|---|---|---|---|
| Revolut | Ideal for startups and SMEs needing robust expense tools | Real-time spend tracking, HR integrations | From £10/month | Visit Revolut |
| Wallester | Perfect for media buying and international teams | Instant card issuance, no commission on EUR payments | Free plan available | Visit Wallester |
| Soldo | Best for finance teams needing detailed oversight | Spend controls, real-time visibility | From £21/month | Visit Soldo |
| Pleo | Suitable for businesses focusing on employee empowerment | Cashback rewards, automated receipt capture | From £9.50/month | Visit Pleo |
| Payhawk | Great for large enterprises with complex needs | Multi-currency support, automated reconciliation | Custom pricing | Visit Payhawk |
| Equals Money | Ideal for small to medium businesses managing budgets | Prepaid cards with custom limits, Xero integration | From £250/yearly | Visit Equals Money |
| Wise | Best for businesses with frequent overseas expenses | No foreign transaction fees, multi-currency management | £45 one-off registration fee | Visit Wise |
| Airwallex | Suited for fast-growing international businesses | Zero international fees, real-time tracking | From £19/month or free subject to conditions | Visit Airwallex |
| ANNA | Perfect for UK startups needing quick setup | Instant account setup, free expense cards | Free plan available | Visit ANNA |
| Payoneer | Best for freelancers and businesses dealing in multiple currencies | High spending limits, cashback rewards | Free account setup unless you have a low annual deposit amount | Visit Payoneer |
| Moss | Ideal for finance teams needing custom expense solutions | Customisable workflows, automated receipt collection | Custom pricing | Visit Moss |
Virtual Expense Cards for Businesses, Reviewed
Revolut
Why We Picked It
Revolut Business is a top choice for UK businesses that frequently engage in international transactions. This platform supports multiple currencies and offers seamless global transfers, making it highly suitable for startups and SMEs focused on optimising their financial operations. Its key strengths lie in automation and providing real-time financial insights, which are essential for businesses that need to maintain strict control over their expenses.
Key Features
Pros & Cons
- Low Fees: Competitive pricing makes Revolut an economical option for small businesses.
- Comprehensive Integrations: Offers smooth integration with leading accounting software such as Xero, simplifying financial management.
- Global Reach: Enables easy international payments and transfers, perfect for businesses operating globally.
- Limited HR Integrations on Basic Plans: More advanced HR features are only available on higher-tier plans, which may not be suitable for smaller teams.
- Additional Costs for Expense Management Features: Some expense management tools have extra charges, which could add up for larger teams.
Pricing
Revolut Business provides a range of pricing tiers designed to meet different business requirements:
- Basic Plan (£10/month): Covers essential features like local and global account details, along with the ability to send, receive, and exchange currencies.
- Grow Plan (£30/month): This plan adds benefits such as no-fee transfer allowances and daily interest on savings.
- Scale Plan (£90/month): Offers increased exchange allowances and more no-fee transfers.
- Enterprise Plan (Custom Pricing): Tailors solutions with the highest savings interest rates and specialised account management.
Each pricing plan includes unlimited team members and provides both physical and virtual cards. Adding expense management features costs an additional £5 per team member monthly.
Wallester
Why We Picked It
Wallester Business stands out with its customisable, branded card solutions that blend flexibility with control, making it an excellent choice for businesses aiming to tailor their financial tools. The immediate availability of virtual cards and mobile app management is especially beneficial for companies engaged in online media buying or frequent international transactions. Moreover, the express delivery option for physical cards ensures your operations remain seamless and efficient.
Key Features
Pros & Cons
- Customisable Spending Controls: Tailor spending limits and rules to meet your business needs, improving financial management.
- Global Acceptance: These cards are accepted internationally, simplifying international business dealings.
- No Commission Fees: Enjoy commission-free transactions in EUR, which benefits businesses operating within the Eurozone.
- Limited Currency Options: Transactions in currencies other than EUR might attract fees.
- Potential Over-Reliance on Digital Platforms: Businesses new to digital financial tools might find transitioning to this system somewhat challenging.
Pricing
Wallester offers a free plan that includes 300 virtual cards with no monthly fee. The Premium Plan provides 3,000 virtual cards for businesses requiring more cards at approximately 20p per monthly card. The Platinum Plan offers 18,000 virtual cards at about 10p per monthly card. Both paid plans include unlimited issuance of physical cards, offering a cost-effective option for companies needing a large volume of cards.
Soldo
Why We Picked It
Soldo stands out in expense management for businesses with its comprehensive suite of tools designed to significantly reduce the administrative load on finance teams. Key advantages include real-time visibility of spending and the ability to set adjustable spending limits, which help businesses easily enforce strict financial controls.
Key Features
Pros & Cons
- Enhanced Control: Customisable limits and rules empower businesses to tailor card usage to their unique needs, reducing financial risks.
- Time Efficiency: Automation drastically reduces the time needed for manual expense management and reconciliation processes.
- User-Friendly Interface: Soldo’s platforms, both web and mobile, are designed to be intuitive and easily navigable, accommodating users with varying levels of tech-savviness.
- Cost Consideration: Although Soldo offers a wide range of features, its pricing might be higher than simpler alternatives.
- Integration Limitations: While Soldo integrates effectively with major accounting systems, it may encounter compatibility issues with less common software.
Pricing
Soldo provides a variety of pricing plans to suit different business sizes and needs:
- Standard Plan (£21/month + VAT): This plan includes 3 users/approvers, 20 physical or virtual cards, and standard receipt capture.
- Plus Plan (£33/month + VAT): Adds OCR receipt capture, multi-currency support, and advanced reporting tools.
- Unlimited Plan (Custom Pricing): This plan offers unlimited users/approvers and cards, along with enterprise workflows and dedicated support.
Each pricing tier is designed to be scalable, allowing for adjustments as your business grows. Please note that additional fees may apply for extra users or specific integrations.
Pleo
Why We Picked It
Pleo stands out in the competitive market of virtual expense cards, offering a seamless user experience and comprehensive control features. Its user-friendly interface is tailored to streamline expense management for small businesses and larger organisations. The advanced expense claims system significantly reduces administrative tasks, making Pleo an ideal choice for companies aiming to minimise time spent on financial management.
Key Features
Pros & Cons
- Ease of Use: Pleo’s intuitive platform simplifies navigation for users at all levels, minimising the learning curve.
- Real-Time Tracking: Offers immediate insights into spending patterns, helping businesses maintain financial control.
- Integration Capabilities: Seamlessly integrates with popular accounting software like Xero and QuickBooks, streamlining financial management.
- Costly for Larger Teams: The cost increases significantly with the number of users, making it less economical for larger teams.
- Limited Features on Basic Plan: Access to some advanced features requires higher-tier plans, which may stretch smaller budgets.
Pricing
Pleo offers a structured pricing model to accommodate various business sizes:
- Starter Plan: £9.50 per month (billed annually), covers basic expense management features.
- Essential Plan: £39 per month (billed annually), includes reimbursements, mileage tracking, and vendor cards.
- Advanced Plan: £89 per month (billed annually), features multi-entity management and advanced card controls.
- Beyond Plan: £179 per month (billed annually), provides the most extensive features, including premium support and insights.
Each plan includes a set number of free users, with additional users incurring further charges. While Pleo’s pricing reflects its extensive features, budget-conscious businesses should carefully consider their options.
Payhawk
Why We Picked It
Payhawk stands out due to its robust security features and seamless integrations, making it an excellent choice for CFOs and financial controllers. The platform offers a comprehensive suite of tools that enhance financial governance for various business entities. Its ability to sync seamlessly with existing ERP systems facilitates smooth data flow, reduces manual entries, and minimises the risk of errors. With a strong focus on compliance and control, Payhawk equips businesses to manage their expenses confidently.
Key Features
Pros & Cons
- Enhanced Compliance: Payhawk’s stringent spend controls aid in maintaining compliance across all transactions.
- Scalable Solution: Adaptable for businesses of varying sizes, from fledgling startups to expansive enterprises.
- Global Reach: Facilitates multi-currency transactions, making it ideal for businesses operating on an international scale.
- Complex Setup: The initial setup process can be lengthy, particularly for smaller businesses lacking IT support.
- Cost Considerations: While offering a wealth of features, the costs may be prohibitive for very small businesses or those operating under strict budget constraints.
Pricing
Payhawk provides a flexible pricing structure to suit businesses of all sizes. Businesses can choose from:
- Individual plans to address specific needs, like Cards & Expenses or Bill Payments
- The Payhawk Complete plan, an all-in-one platform package that gives you access to all features.
All plan pricing is available upon request. Additional charges may apply for premium services like enhanced support or additional integrations.
Equals Money
Why We Picked It
Equals Money stands out as a top choice for UK businesses engaged in international trade, offering robust foreign exchange solutions. It supports transactions in 21 major currencies, enabling smooth cross-border payments and minimising conversion costs. This stability is vital for businesses dealing with overseas suppliers or customers. Additionally, the platform’s seamless integration with Xero boosts the efficiency of financial management.
Key Features
Pros & Cons
- Competitive FX Rates: Provides competitive foreign exchange rates, significantly reducing transaction costs.
- Unlimited Platform Users: Supports adding unlimited users at no additional cost, enhancing team collaboration.
- Real-Time Financial Control: Offers instant visibility into expenditures, essential for effective budget management.
- Physical Card Fee: Charges a £10 fee for each physical card, which can accumulate for businesses requiring multiple cards.
- Limited Free Cash Withdrawals: There is a £1.50 fee for each cash withdrawal, which could be limiting for cash-reliant businesses.
Pricing
Equals Money offers tiered pricing based on the number of cards used:
- Business Tier (1-20 cards): £300 annually (£250 if paid yearly), includes up to 200 virtual cards at no additional cost.
- Business Plus Tier (21-50 cards): £420 annually (£350 if paid yearly), also includes 200 virtual cards for free.
- Enterprise Tier (51+ cards): Provides custom pricing tailored to business requirements.
All plans feature free transactions in 21 major currencies, with a nominal 1.5% fee for other currencies. This flexible pricing structure allows businesses to select a plan that suits their size and transactional needs.
Wise
Why We Picked It
Wise is renowned for its efficiency in global money transfers and multi-currency management, making it an outstanding choice for businesses with international operations. Its capability to handle over 40 currencies at the real exchange rate delivers considerable advantages for companies engaged in frequent international transactions. This platform especially benefits startups and SMEs aiming to streamline their cross-border financial activities while minimising hefty fees.
Key Features
Pros & Cons
- Minimal FX Fees: By conducting transactions at the real exchange rate, businesses can achieve significant savings on foreign exchange costs.
- Global Reach: The ability to handle transactions in over 40 currencies positions Wise as a highly effective tool for internationally operating businesses.
- User-Friendly Interface: The platform’s intuitive design ensures ease of use, even for those new to financial software.
- Limited Advanced Expense Features: While basic expense management tools are provided, more advanced features, such as detailed reporting and analytics, are less developed.
- No Credit Options: Operating on a prepaid basis, Wise may not meet the needs of businesses that require credit facilities.
Pricing
Setting up a Wise Business account involves a one-time setup fee of £45, with no monthly subscription fees. Transaction fees are competitively priced, starting at 0.33% for currency conversions. This transparent pricing structure is advantageous for small businesses focused on effectively managing costs while pursuing global expansion.
Airwallex
Why We Picked It
Airwallex stands out due to its competitive exchange rates and robust API integrations, positioning it as an excellent choice for businesses involved in international transactions. It offers interbank FX rates and a transparent fee structure with no hidden charges, facilitating effective currency management and expense tracking. The platform’s advanced API capabilities allow seamless integration with existing business systems, proving invaluable for tech-savvy companies looking to streamline their financial operations.
Key Features
Pros & Cons
- Borderless Banking: Removes foreign transaction fees, enabling businesses to allocate more funds towards growth.
- Comprehensive Control: Provides extensive spend controls and customisable approval workflows, ensuring tight management of financial resources.
- Instant Card Issuance: Facilitates the rapid issuance of virtual cards for immediate use, catering to the fast-paced demands of modern businesses.
- Limited Regional Presence: Despite its broad global reach, Airwallex’s physical presence is restricted in some areas, potentially impacting customer support services.
- Complex Setup for Smaller Enterprises: The initial configuration may be challenging for smaller businesses lacking specialised IT support.
Pricing
Airwallex employs a tiered pricing strategy to accommodate various business sizes and needs:
- Explore Plan: Available for free with a minimum monthly balance or deposit of £10,000; otherwise, it costs £19 per month. This plan includes complimentary local transfers to over 120 countries and no international card fees.
- Grow Plan: Priced at £49 per month, this option enhances capabilities with expense management tools and up to 50 company cards, suitable for growing businesses.
- Accelerate Plan: At £999 per month, this premium plan offers advanced integrations and dedicated account management, tailored for large enterprises.
All plans exclude foreign transaction fees on card spending, ensuring cost-effectiveness for international operations.
ANNA
Why We Picked It
ANNA stands out for its bespoke banking solutions, crafted specifically for UK-based small businesses and startups. It provides a comprehensive suite of tools such as invoicing, card management, and accounting, all designed to support the unique challenges faced by emerging businesses. This positions ANNA as an invaluable ally for entrepreneurs in the fast-paced startup landscape.
Key Features
Pros & Cons
- User-Friendly Interface: The ANNA app is designed to be intuitive, making it straightforward for beginners to manage their finances
- 24/7 Customer Support: Round-the-clock support from a dedicated UK-based team ensures that help is always at hand.
- Limited Advanced Reporting: While ANNA provides basic financial tracking, it may not suffice for larger businesses that require more comprehensive reports.
- Transaction Fees: A commission of 0.95% on incoming payments can become costly for businesses with high transaction volumes.
Pricing
ANNA’s pricing model is designed to be flexible.
- Pay As You Go: This free account is ideal for growing teams, and it includes unlimited free expense cards.
- The Business plan: It is priced at £14.90 per month plus VAT and includes 50 free local transfers and up to five free expense cards, with additional cards £3 per card per month thereafter.
- The Big Business plan: Costs £49.90 per month plus VAT, offering unlimited transfers and expense cards.
It’s important to note the additional fees: 0.95% on incoming payments and 1% for currency conversions on international transfers.
Payoneer
Why We Picked It
Payoneer stands out for its robust global payments system and seamless marketplace integrations. It is an excellent choice for businesses that operate internationally or use platforms such as Fiverr, Upwork, and Airbnb. The availability of local receiving accounts in various currencies greatly simplifies international transactions and enhances overall financial management.
Key Features
Pros & Cons
- Broad Acceptance: Payoneer cards are powered by Mastercard and are widely accepted online and offline worldwide.
- High Spending Limits: The platform offers generous daily spending limits up to 200,000 USD, effortlessly supporting large-scale transactions.
- Withdrawal Fees: There is a fee of 3.15 USD for each ATM withdrawal, which can add up for businesses that frequently access cash.
- Currency Conversion Costs: Transactions in various currencies can incur conversion fees of up to 3.5%, which could impact businesses that frequently deal in multiple currencies.
Pricing
Payoneer offers a clear and straightforward pricing structure to help businesses manage their costs effectively. Transactions between Payoneer accounts are free of charge, while payments received via credit card attract a fee of up to 3.99%.
It’s worth noting that if you receive less than £1,475 into your account within a 12-month period, you will be required to pay an Annual account fee of around £22.
Currency conversion fees are capped at 3.5%, and each ATM withdrawal charges 3.15 USD per transaction. Businesses that frequently handle transactions in multiple currencies should consider these costs carefully against the operational advantages provided.
Moss
Why We Picked It
Moss stands out in the virtual expense card market, offering a highly customisable and efficient tool for modern SMEs. It simplifies financial management with a strong emphasis on automation and control, integrating seamlessly with existing accounting systems. This makes Moss an excellent choice for finance teams looking to enhance operational efficiency.
Key Features
Pros & Cons
- Unlimited Cards: Issue unlimited virtual or physical cards, providing flexibility in managing team expenses.
- Automated Bookkeeping: Automates transaction coding, reducing errors and speeding up month-end closures.
- Real-Time Spend Tracking: A real-time overview of all card transactions enables immediate financial oversight.
- Complex Pricing Structure: The modular pricing model may be complex, with costs varying depending on the features selected and transaction volumes.
- Learning Curve: New users might require time to leverage the platform’s extensive features fully.
Pricing
Moss utilises a flexible pricing model that allows businesses to customise their package based on specific needs. The base packages include options such as Corporate Cards, Employee Reimbursements, or Accounts Payable, with additional possibilities for Advanced Accounting or ERP integrations. Pricing is determined by the monthly transaction volume, which ensures that businesses only pay for what they need. This model offers scalability but necessitates careful planning to manage costs effectively.
What are Virtual Expense Cards?
Virtual expense cards are designed to improve business expense management by offering flexibility and control, eliminating the need for physical cards. These cards are ideal for online transactions and can be instantly issued to employees, making them perfect for remote teams or businesses with dynamic spending requirements.
Key Features of Virtual Expense Cards:
- Instant issuance to employees for immediate use.
- Predefined spending limits to help manage budgets effectively, particularly beneficial for startups and SMEs.
- Real-time transaction monitoring provides instant insights into spending patterns, enhancing financial control.
- Seamless integration with accounting software like Xero or QuickBooks automates bookkeeping and reduces manual data entry errors.
Providers such as Revolut and Soldo offer robust integration capabilities that streamline financial management processes. Virtual expense cards are a sophisticated tool that enhances the efficiency and transparency of financial operations in businesses of all sizes.
Benefits and Drawbacks of Using Virtual Expense Cards
Virtual expense cards offer businesses a fast, flexible, and highly controllable way to manage spending, especially across remote teams or project-based work. But like any financial tool, they have advantages and limitations.
- Instant setup – Cards can be issued immediately, ideal for onboarding new employees or launching short-term projects.
- Spending controls – Set limits, restrict merchants, and issue single-use or vendor-specific cards to prevent overspending and fraud.
- Real-time visibility – Track transactions as they happen for better oversight and faster decision-making.
- Seamless integrations – Most providers connect directly with accounting software, automatically categorising spend and matching receipts.
- Less admin – No need to collect paper receipts or chase manual reports, saving time for both employees and finance teams.
- Stronger fraud protection – Virtual-only or single-use cards reduce the risk of data breaches and misuse.
- Tech dependence – Requires a reliable internet connection and a level of digital literacy, which may be a hurdle for some teams.
- Not always accepted – Some vendors, especially offline or traditional ones, may still require physical cards.
- Potential admin creep – Managing many virtual cards can become unwieldy without proper systems in place or provider integrations.
For many UK startups and SMEs, the benefits outweigh the drawbacks, especially when using trusted platforms like Revolut or Soldo that offer solid integrations and intuitive control panels.
Types of Virtual Expense Cards Explained
Virtual expense cards provide businesses with enhanced flexibility and control over their finances. Each card type is tailored to meet specific operational needs and spending behaviours. Here’s a breakdown of the various kinds of virtual expense cards available:
- Single-use cards: These are ideal for one-off transactions, offering heightened security against fraud. They are best suited for businesses that need to ensure safe and secure payment for occasional purchases.
- Multi-use cards: Designed for recurring expenses such as subscriptions, these cards simplify ongoing payments by eliminating the need for multiple cards. They are handy for businesses with regular, predictable expenses.
- Preloaded cards: These require funds to be added in advance, making them perfect for businesses that want to enforce strict spending limits. They help budget management by allowing only the preloaded amount to be spent.
- Postpaid cards: Functioning similarly to traditional credit cards, postpaid cards allow expenses to be settled later. This can be advantageous for managing cash flow, giving businesses the flexibility to pay after receiving services or goods.
- Specialised corporate solutions: Tailored for larger corporations, these solutions offer advanced spend analytics and seamless integration with accounting systems. They are designed to provide comprehensive controls and detailed financial oversight.
- Freelancer-focused offerings: These are crafted for simplicity and minimal setup, addressing freelancers’ needs for straightforward and efficient financial tools. They typically offer easy management and low maintenance, ideal for those who prefer a no-fuss approach to finance management.
When selecting a virtual expense card, it’s crucial to consider your business’s specific needs and spending patterns. For instance, freelancers might find preloaded cards more convenient due to their straightforward nature, while larger organisations may benefit from the robust features of specialised corporate solutions.
Who Are Best Suited to Virtual Expense Cards?
Virtual expense cards are best suited to the following types of business:
- Startups, SMEs, and remote teams prioritising efficient expense management and real-time spending monitoring.
- Businesses with high transaction volumes or those involved in international trade, as they offer competitive exchange rates and streamline reimbursement.
- Companies that leverage software integrations will find virtual cards especially beneficial. Providers such as Revolut and Soldo facilitate seamless integration with accounting software, which can significantly reduce administrative burdens.
Virtual expense cards may be less suitable for the business types below:
- Businesses that rely heavily on cash or operate in areas with limited internet connectivity. The reliance on digital infrastructure can occasionally disrupt transaction processing and expense tracking. Traditional banking methods might prove more suitable for companies predominantly dealing with cash transactions.
- Businesses that seldom engage in international transactions may not benefit substantially from the global features offered by these cards.
How to Choose a Virtual Expense Card for Your Business
Choosing the right virtual expense card is crucial for streamlining your business’s financial processes. To select a card that fits your company’s specific needs and enhances operational efficiency, consider the following key factors:
- Ease of Use: Opt for a card with a user-friendly interface to facilitate effective expense management and allow easy tracking and reporting of expenses.
- Integration with Accounting Software: The card should integrate seamlessly with your existing accounting systems, such as Xero or QuickBooks, to automate the flow of expense data, reduce manual data entry, and minimise errors.
- Fee Structures: Decide between a monthly subscription or a pay-per-use model based on your transaction frequency. A subscription model may offer better value for high transaction volumes.
- Multi-Currency Capabilities: For international operations, choose providers like Wise and Airwallex that handle multiple currencies efficiently and offer competitive exchange rates and low conversion fees.
- Specific Business Needs: Ensure the card meets specific requirements such as high transaction volumes or multi-entity expense management. Providers like Revolut and Payhawk offer robust features for managing expenses across various entities.
Alternatives to Virtual Expense Cards
When considering alternatives to virtual expense cards, it is essential to explore traditional business credit cards, prepaid options, and e-wallets. Each option serves different business needs and has its own set of benefits and limitations.
Traditional Business Credit Cards
Traditional business credit cards often provide attractive perks such as cashback or travel rewards, which are particularly beneficial for businesses with frequent travel requirements. However, these cards typically have higher interest rates and fees, necessitating careful financial management to avoid costly debts.
Prepaid Cards
Prepaid cards, offered by providers like Equals Money, are excellent for budget control. They allow businesses to:
- Set predefined spending limits
- Ensure strict budget adherence
This makes them ideal for companies looking to manage their finances tightly.
E-Wallets
E-wallets such as PayPal and Apple Pay are convenient for facilitating easy online transactions and generally integrate well with various accounting systems. However, they often lack the comprehensive spend tracking and control features virtual cards provide.
Common Questions about Virtual Expense Cards
The setup process for virtual expense cards is generally straightforward. Most providers, including Revolut and ANNA, offer a simple online registration. You’ll need to verify your business details, after which you can immediately start issuing virtual cards.
Security is a top priority for virtual expense cards. Providers such as Payhawk and Airwallex utilise advanced encryption and fraud detection technologies to protect your transactions. Additionally, features like 3DS authentication provide an extra layer of security, ensuring that your financial activities are well-protected.
Refunds on virtual expense cards are processed in the same manner as those on physical cards. Once the merchant initiates a refund, it should be reflected in your account within a few business days. Providers such as Wise enhance this process by offering real-time notifications to keep you informed about the status of your refunds.
With most providers, the issuance of virtual cards is typically instant, allowing you to set spending limits and issue cards to employees without delay. The process may take slightly longer for setups involving multiple users or integrations, but it is usually completed within a day.
