EV fuel cards have been growing in popularity as a means to eliminate the need for traditional “pay and reclaim” systems. The old system would be cumbersome for both drivers and accounting teams, but by consolidating all charging and fueling expenses into a single, HMRC-compliant invoice, businesses streamline VAT reclamation. The result? Heavily reduce administrative burdens.
Cost savings of fuel cards
Drivers benefit from a fuel card as they no longer have to manage multiple receipts or pay out of pocket. This system helps keep the risk of errors and fraud down to a minimum. If an employee loses their card – the card can be frozen immediately. Plus, the only use of the card is for EV drivers.
Some providers offer up to 14 days of free credit or other benefits which can improve cash flow. The transition to electric vehicles itself involves upfront costs, but can be done either gradually, or when the old fleet begins to age. Electric charging at home, and often in public, is much cheaper per mile than fuel in the UK, particularly as the latter experiences frequent price and tax hikes.
With all charging costs consolidated into one solution, businesses now have better control over their budgets and can monitor fleet expenditures. Some cards even allow companies to take advantage of off-peak electricity rates as they schedule overnight charging, which further cuts costs.
The choice isn’t ICE or EV; fleets can have mixed vehicle types, and fuel cards exist to serve both. Unlike credit card payments, EV fuel card transactions typically incur no interest charges.
Enhanced fleet intelligence
EV fuel cards can help boost the data economy of a business and leverage its detailed reporting tools. Fleet managers can easily track where and when vehicles are charged without having to skim through receipts. They can also monitor energy consumption and analyse the associated costs. The data could then become useful for fleet efficiency, and perhaps even route efficiency, as it provides a visual clue on areas for improvement.
One example of using this data might be to determine which routes are best suited for EVs based on real-world performance metrics – such as where the charging stations are. Mobile applications linked to these cards can also help drivers locate nearby charging stations and overcome range anxiety. Productivity can also be improved to minimise time wasted on charging more than necessary.
Sustainability and future-proofing
EV fuel cards can also help efforts in sustainability by helping smooth out the transition to electric vehicles. By helping reduce carbon footprint, the business can better align themselves with corporate social responsibility goals – this can get investors excited and build trust with loyal customers. Advanced reporting can help companies quantify their environmental impact more quickly by tracking CO2 emissions saved compared to traditional vehicles.
As the UK moves toward phasing out petrol and diesel car sales by 2030, EV fuel cards will become increasingly popular in future-proofing operations. Dual-functionality cards may be the current go-to, but with the increase of EVs on the roads, EV charging-only cards will soon become the norm. Access to extensive charging networks—including rapid and ultra-rapid chargers—helps fleets remain operational regardless of location.
