Pleo Card: Streamline Your Business Expenses Effortlessly

Managing business expenses can often be a cumbersome and time-consuming task, but the Pleo Card aims to change that. This innovative smart company card is designed to simplify the way businesses handle their expenditures, providing a modern solution for expense management.

What is the Pleo Card?

The Pleo Card is a smart debit card that businesses use to manage and track expenses. It's not a credit card, meaning that spending is limited to the available balance in the Pleo account. This design helps prevent overspending and ensures better control over company finances.

Key Features of Pleo

Pleo offers a range of features tailored to make expense management easier and more efficient for businesses:

• Real-Time Expense Tracking: Transactions made with the Pleo Card are automatically recorded in the Pleo app, providing real-time visibility into spending. This eliminates the need for manual entry and reduces errors.
• Automated Expense Reports: Pleo automatically generates expense reports based on card transactions, streamlining the reporting process and saving time for employees and finance teams.
• Customizable Spending Limits: Business owners can set individual spending limits on each card, helping to manage budgets and control expenditure effectively.
• Receipt Capture: Employees can snap photos of receipts using the Pleo app, which are then attached to transactions for easy record-keeping and audit trails.
• Accounting Software Integration: Pleo integrates seamlessly with popular accounting software like Xero and QuickBooks, simplifying the reconciliation of transactions and enhancing accuracy in bookkeeping.
• Virtual and Physical Cards: Pleo provides both virtual and physical cards, offering flexibility for online and in-store purchases.
• Security Features: The Pleo app allows users to freeze or unfreeze cards instantly, enhancing security and control over card usage.
• Cashback Opportunity: Pleo offers up to 1% cashback on business purchases, which can help offset the cost of using the card. This cashback benefit is available on yearly contracts for the Essential or Advanced pricing plans.

How Does the Pleo Card Work?

The Pleo Card simplifies the expense management process by automating transaction recording. Each employee is issued a Pleo Card linked to the company’s Pleo account. Whenever an employee makes a purchase, the transaction is recorded in the Pleo app, removing the need for manual receipt tracking and expense reporting.

Pleo Pricing Plans

Pleo offers three pricing tiers, each with distinct features:

• Starter Plan: Free for up to 3 users. Includes Pleo Cards, simplified expenses, and automated receipt reminders. Additional fees apply for international transactions or extra features.
• Essential Plan: Costs £45 per month or £39 per month if billed annually. Includes real-time expense tracking, automated expense reports, and accounting integrations. A free trial is available to explore all features before committing.
• Advanced Plan: Priced at £89 per month or £79 per month with annual billing. Includes everything in the Essential Plan, plus advanced features such as multi-entity management and custom configuration.

Additional Products from Pleo

Pleo offers supplementary products to enhance expense management:

• Fetch: Automatically matches receipts with Pleo expenses from your email inbox and detects missing receipts from past transactions.
• Pocket: Allows tracking of cash purchases, out-of-pocket expenses, and mileage. Helps in settling outstanding balances and reimbursing employees.
• Assurance: Provides oversight on spending by notifying managers when expenses exceed set thresholds, facilitating budget control without needing to approve each transaction individually.

Who Should Use Pleo?

Pleo is particularly well-suited for small to medium-sized businesses that need a streamlined approach to managing employee expenses. It's ideal for companies where employees frequently make purchases on behalf of the business.

Can Pleo Replace Your Business Bank Account?

Pleo is not intended to replace your everyday business bank account. Instead, it complements existing banking structures by simplifying the expense management process and improving financial oversight.

Pleo and Accounting Software Integration

Pleo integrates with well-known accounting platforms like Xero and QuickBooks, ensuring that expense reporting and bookkeeping are seamlessly aligned with your financial systems. This integration reduces manual data entry and improves accuracy.

Availability and International Use

Pleo is currently available in several countries, including the UK, Denmark, Sweden, Norway, Germany, Spain, France, Italy, Ireland, and the Netherlands. The company is actively expanding, with plans to enter additional markets.

For international transactions, Pleo charges a fee of up to 2.49%. The card can be used globally wherever Mastercard is accepted, making it a versatile option for businesses with international dealings.

Security and Compliance

Pleo prioritizes security with industry-standard encryption and regulatory compliance. The card is regulated by the Financial Conduct Authority (FCA) in the UK and offers features like two-factor authentication and the ability to freeze or unfreeze cards instantly.

In summary, the Pleo Card provides a modern, efficient solution for managing business expenses, with features that enhance control, simplify processes, and offer valuable benefits like cashback. It’s a valuable tool for businesses looking to streamline their expense management while maintaining financial oversight.