Fuel card best practice guide

Fuel cards – a guidefor fleet managersWhat is a fuel cardand how does it work?A fuel card looks like a credit card, and works in a similar way.It allows drivers to charge the cost of fuel to an account whichis settled, usually monthly in arrears, by their employer.Unlike a credit card, interest is notapplied to purchases. However, most fuelcard suppliers charge an annual fee.Fuel cards are increasingly chip and PINprotected and can be embossed tospecific company requirements.At the point of purchase, the transaction iscarried out in the same way as with anycard. The vehicle registration number andmileage are recorded.The consolidated fuel card invoice whichorganisations receive shows informationincluding the date, time and place ofpurchase, the fuel type and transactionvalue. The fuel card report significantlyreduces administration costs compared toother methods of tracking fuel purchasesand eliminates the need for receipts. Inaddition to the detailed invoice most fuelcard suppliers will be able to provide furthermanagement reporting.3