Fuel cards offer Australian drivers an abundance of advantages. For business owners, they can be practically indispensable, and they are also beneficial for individuals and families. Let’s discuss 7 tips on finding the Australian fuel card that’s right for you, your family or your business:
1. If Fuel Theft Is an Issue for You, Look for a Card That Offers Protective Features Against Fraud
Petrol and diesel theft are ongoing problems in Australia. Historically, fuel theft has escalated at times of dramatic price increases in the cost of fuel. Fuel theft in Australia surged in the wake of the great financial crisis; and, once again, it is turning out to be a source of vexation in some areas of Australia in the aftermath of the Coronavirus crisis.
In particular, fuel prices in Sydney are now surging after having plummeted to record lows as a result of decreased demand during the COVID-19-related lockdowns. This is likely to result in more attempted fuel thefts – some of which may be preventable if fraud detection tactics are utilized.
Some fuel cards offer fraud prevention and detection features that can help to deter fuel theft. In particular, if you’re a business owner who has to worry about less than fully trustworthy employees, these are benefits you’d be likely to want.
One common type of fuel fraud happens when employees fill up their own vehicles or containers in addition to filling up their assigned work vehicles. If you start using a fuel card that tracks expenses by employee, you will be able to easily detect this sort of fraud. Your fuel card reports will reveal that a particular employee’s consumption is greater than it should be.
Some fuel cards are so sophisticated that they are able to integrate GPS tracking along with fuel spend analytics to detect whether or not a specific vehicle was actually at the fuel pump at the time the corresponding fuel card was used. They can also reveal whether more fuel was pumped than the vehicle actually has the capacity to hold, which is a clear indication of fraud.
Some fuel cards allow you to set daily spending limits. Setting a limit can help to discourage employees from committing fraud with your fuel cards, and it can also make a big difference in limiting any resulting damage if fraud does occur.
2. If You’re a Price-Conscious Motorist, Look for a Fuel Card That Allows You to Purchase From Multiple Servos
Perhaps it’s important to you to be able to locate the best price at the fuel pump. In that case, you’ll likely want to utilise a card that allows you to access fuel from multiple service stations of differing brands.
3. If You’re a Brand-Loyal Motorist, Look for Your Favorite Brand’s Fuel Card
If you routinely fill up your tank at the same location, or you always choose the same brand of fuel wherever you travel, it might be beneficial for you to utilise the fuel card made available by that brand. For example, if your employees have been instructed to always fill up at the 7-Eleven store across the street from your business headquarters, you’d be likely to benefit from obtaining a 7-Eleven fuel card.
4. Consider Each Card’s Rewards Programme
Some of the rewards on offer through fuel cards are attractive ones, and others might not be as useful to you. It’s worth taking all of these benefits into consideration when you choose which card to use.
5. Consider the Costs of Accounting
Some fuel cards will give you the benefit of consolidated receipts. For business owners who need to carefully track vehicle expenses, this could be one of the most compelling reasons to obtain a fuel card. Lost receipts will no longer be a source of annoyance, and accounting time and processes will be dramatically streamlined.
6. Mind the Fees
Most fuel cards have at least some associated fees. You’ll want to read the fine print carefully to understand which fees will apply in your particular circumstances.
7. Use a Fuel Card Comparison Service for Best Results
There are heaps of different fuel cards available, and it would be easy to overlook one that could be exactly right for your needs. To avoid this, you’ll want to consider using a fuel card comparison service like the one made available from the Fuel Card Report website. Their site administrators have made an incredible effort in keeping track of the business fuel cards that are available in Australia, and their information will help you to easily compare the fuel cards that are currently on offer. A service like this can be a huge time-saver, because it gives you the info you need without having to visit multiple websites.
These are some of the most important considerations to be aware of when you choose a fuel card in Australia. If you keep these tips in mind when you search for a fuel card, you’re sure to find the one that’s best suited to your needs.