Soldo offers different ways to allocate company money, depending on how often and how flexibly you want employees to spend. This article helps you understand when to use user cards, company cards, or temporary virtual cards.
User cards
Assigned to individuals for regular spending such as T&E. The card is connected to a wallet and they can spend the wallet funds freely subject to any rules and limits applied. These cards can be issued as virtual or plastic cards.
Company cards
Shared across multiple users for regular team or departmental spend. Any card assignee can use the card and access the funds in the connected wallet subject to any rules and limits applied. These cards can be issued as virtual or plastic cards.
Temporary virtual cards
Best for one-off or occasional purchases. Temporary virtual cards can only access a pre-approved amount of funds and can be issued with a transaction limit between 1 and 10. They need to be activated by the user before spending and will automatically expire after 7 days.
Which one should I use?
- Frequent spenders: Assign a user card
- Team/project budgets: Use a company card
- Occasional needs or ad hoc purchases: Use temporary virtual cards for pre-approved spend