Soldo – reviews, analysis and fees

Last updated on 10 August 2023

Soldo is designed to take the administrative headaches out of travel and expense management. Rather than a credit card, Soldo offers a prepaid MasterCard.

Compare business finance What are you looking for?

In partnership with Nerdwallet

This means that you can set a balance on the card, and when it’s used, no more can be spent – perfect for avoiding unwanted or excessive fees run up on a corporate credit card, and there will be no need for employees to make claims for out-of-pocket expenses accrued during business travel.

Soldo also captures data of all spending, making it simple to deduct expenses from business tax returns and to help a company owner determine where funds are being directed at any given time.

Video: Understanding business credit cards

Soldo business prepaid expense cards

Pros and cons of Soldo for business finance 

Preset budget limits to prevent overspending Not available to sole traders
Full capture of all spending for data analysis No credit facility
Can be used to withdraw cash from ATMs (for a fee) Monthly subscription fee
Very good online reviews on TrustPilot Not a bank, so not FSCS protected
Soldo card pros and cons
Soldo mobile app user interface

Business credit cards

Soldo is not a credit card, but a prepaid expense card. A Soldo MasterCard (available as a physical plastic card or used through Google Pay or Apple Pay) can be loaded with an appropriate balance and used anywhere that accepts MasterCard. When the spending cap is reached, the Soldo card will not be able to be used again until topped up.

Soldo offers a choice of five different prepaid cards:

Explore business banking

Revolut Business
✓ Business Current Account
✓ Award-Winning Mobile App
✓ Quick & Easy Application Process
Pricing Trial period Contact

Tide Business Bank Accounts
✓ Free, Plus, or Pro Account
✓ iOS & Android Mobile App
✓ Upload & Auto-Match Receipts
Pricing Trial period Contact

Card One Money
✓ No Credit Checks
✓ Simple Fees
✓ Up to 3.5% Cashback
Pricing Trial period Contact

ANNA Money
✓ Apply in 10 minutes
✓ Bookkeeping & Payroll Tools
✓ User-Friendly Mobile App
Pricing Trial period Contact

Co-Op Business Banking
✓ Business Current Account
✓ Online, App & High Street Banking
✓ Quick & Easy Application Process
Pricing Trial period Contact

HSBC Business Banking
✓ Business Current Account
✓ In-Branch, Online & App Banking
✓ FSCS Protected
Pricing Trial period Contact

Metro Business Banking
✓ Business Current Account
✓ High Street Presence
✓ FSCS Protected
Pricing Trial period Contact

Mettle Business Banking
✓ Business Bank Account
✓ Online & App
✓ Quick & Easy Application Process
Pricing Trial period Contact

Monzo Business Banking
✓ Business Current Account
✓ Dedicated mobile app experience
✓ FSCS Protected
Pricing Trial period Contact

Virgin Money
✓ Business M Account
✓ In-Store, Online & App Banking
✓ Insights & Forecasting Platform
Pricing Trial period Contact

Single user card

One card for one user, which can be regularly topped up with funds as and when required.

Multi user card

Provide a single budget pot to multiple users, such as a team travelling together.

Fuel card

Approve spending to a capped level at petrol stations or electric car charging ports.

Subscription card

Place a balance on a Soldo card and use it to pay for – and monitor – ongoing subscription packages to software.

Temporary virtual card

Used through Apple or Google Pay, this card will expire after 7 days. Ideal for short, ad hoc business trips for irregular travellers.

Merchant cash advance

Not available from Soldo. See merchant cash advance.

Business loans 

Not available from Soldo. See best business loans

Asset finance 

Not available from Soldo. See best asset finance

Invoice finance

Not available from Soldo. See invoice factoring

Commercial mortgages

Not available from Soldo. See commercial mortgages.

Business vehicle finance

Not available from Soldo. See business vehicle finance.

Soldo card account login

Soldo key information

Phone numberN/A – live chat only
App downloadsiOS; Android
Number of branchesN/A – Soldo is an online business
FSCS protected?No
Key information

Soldo reviews

Review platformScoreNumber of votes
FeefoNot reviewedN/A
Reviews.ioNot reviewedN/A
Smart Money People4.79/524
Which?Not reviewedN/A
Average score4.645/51,510 total votes
Soldo card reviews and ratings

Business eligibility criteria

Soldo is available to any registered business listed with Companies House.

Business finance alternatives

As Soldo is something of a niche product, it will not be suitable for every business. If you are looking for a credit card rather than a pre-loaded expense card, try these alternatives.

  • American Express
  • Barclaycard
  • Capital on Tap
  • Juni

Additional considerations

The reach and reputation of Soldo is growing, with the UK government now accepting this payment method for local authorities.


Is Soldo a business credit card?

No, Soldo cards do not allow users to spend on a credit basis. Soldo is a prepaid card, loaded with a balance that is charged from your business in advance, designed to control expenditure and prevent employees from accruing personal expenses.

How do I apply for a Soldo card?

Head to the Soldo website, choose the product and pricing plan that meets your needs, and start your free trial.

How much does a Soldo card cost?

Soldo has three pricing tiers. Soldo Pro costs £6 per month, while Soldo Premium is £10 per month and offers more features, including the ability to hold a balance in multiple currencies. A bespoke, customised pricing tier is also available for larger businesses with complex needs. 

Can I use a Soldo card online and overseas?

A Soldo card can be used online, though you may need to activate this setting in the app. If you plan to use a Soldo card overseas, it is best to sign up for the Premium price tier and assign a balance in $US or €. If using a traditional Soldo account or spending in other currencies, a flat 1% FX fee applies.

What happens if a Soldo spending cap is reached and I need to spend more?

Personal and additional expenditures can also be captured using the Soldo app, so even if spending caps are reached, receipts can be recorded and the user can be reimbursed if further spending becomes essential.

I am a sole trader – can I use a Soldo card?

At present, Soldo is only available to limited companies and partnerships.

Compare ⓘ

Reviewed by , Managing Director


Business Financed provides general information, but not financial advice. Always speak to a qualified expert to get personalised advice for your business.

Advertising disclosure

We may be paid a commission by our FCA-regulated partners when you click on the links in our articles. This does not affect our independent journalism.

Learn more

You can learn more about how this website operates by clicking here.