Soldo Business Card: A card for easy transactions
Soldo business is used in multi-user spending account developed by Soldo Financial Services Ltd. This is regulated online in which all the employees are given virtual or real cards to spend on their needs, the transactions are watched online over the screen. What you have to do is just configure your employees as a user and create the expense centers, each user should be allocated an online wallet with a virtual or real Soldo Mastercard debit card. The budget and limits of the cards can also be set for each card. The rules may vary from card to card according to trust level of the employee. The screen shows you the details of each card, including balance, the amount spent, limits, etc.
The plus point of the Soldo Business is that its data integrates seamlessly with all the major accounting software. It is very easy to register with the Soldo business.
How to register for Soldo Business?
To use Soldo business, you have to simply apply online with the required information. After that when your online account is verified you will get a login-id and password. After this, you have to transfer amounts from your bank account. Now, after receiving the amount into your wallet, you have to add the employees and order virtual or real Soldo Business Cards.
Transfer the funds to your user according to yours.
The important thing is that Soldo Business registration does not need any credit card approval. When you deposit money into your Soldo Business account, you are sending it directly to an account held at Barclays in the UK and you won’t pay a transfer fee unless your bank asks for.
Soldo Business Cards
Soldo Business Cards are issued by Wirecard Card Solutions – an authorized and registered electronic-money institution with pass porting throughout the Single Euro Payment Area, which is further given to the employee by the company head. The Soldo Business card is a Mastercard debit card, so, therefore, can be used at any of the Mastercard outlets.
Soldo Business Cards can be issued virtually or physically in the form of a plastic card. The virtual soldo business cards can be used for an online purpose, if your employee needs cards for the only online purpose, it is better to issue a virtual soldo business card to him. The virtual soldo business card also has same functionalities, also it is risk-free. The real soldo business card is similar to the debit card and can be used as debit card according to employees need but within the parameter set by the employer.
The bespoke limits and limits of the card can be set by the company head. Also, the rules may vary from user to user which is to bet set by the company head, according to his trust and faith in the employee.
The regulating dashboard for the soldo business cards in very responsive and immediately implements changes made to the cards by the regulator.
To get soldo business card the employer has to pay a fee to the Soldo Business. The virtual card costs one euro, while the plastic soldo business card costs five euro. The same cost is paid again in the case card is lost.
What are the benefits of soldo business card?
The soldo business card can be used as a debit card. It can be used in purchasing, making online payments. For employers, through soldo business card they can track the amount expended by their employees. The most useful benefit includes the limit setting facility provided. This allows the employers to set limits on the purchasing power of the employee and moreover they can keep track of the financial activities done by the employee.
Pros and Cons of soldo business cards
Though the soldo business card is useful in controlling the spending limits of the employee. But as every coin has two faces, so as in the case of soldo business cards.
The cards allow the employer to set limits on the spending power of the employee. This controls the expenditure of the company, but sometimes this stops the employees to use the card while purchasing. The things that are more expensive than the amount in their soldo business card are out of reach. This might create dissatisfaction among the employees and their working capability might be reduced.
The soldo business card provides dynamic facility to change the expense limits anytime through the financial dashboard that helps in making the account expendable anywhere anytime, but it may happen that the employer is lacking internet connectivity for a time period, in that time period the employer is not able to know about the activities done on the soldo business card, the employer has to wait until get connected to the internet and able to access the dashboard.