JET Fuel Cards
A guide to JET Fuel Cards
Fuel cards, including JET fuel cards, are a modern solution to the classic administrative problems and headaches that businesses experience when operating its own fleet. Problems such as endless paperwork, little-to-no accountability, and no transparency can all turn fleet management into a major hassle and expensive time sink.
To alleviate these problems, more and more businesses like yours are turning to fuel cards. By using fuel cards for their fleets, businesses both small and large can monitor their drivers' activities and routes, track fuel spend over time, keep an eye on fuel efficiency, and avoid fraud, amongst other things, to ensure their fleets are running smoothly at all times.
It is thanks to benefits like these that fuel cards have grown rapidly in popularity in recent years. Today, thousands of businesses use fuel cards on a daily basis to streamline fleet management.
A JET Fuel Card is one of several fuel cards available to businesses like yours. In this guide, we are going to explore the JET Fuel Cards that are currently available and, for the uninitiated, cover the topic of fuel cards in more detail.
JET Fuel Cards through iCompario
About JET Fuel Cards
If your business has a fleet of vehicles (no matter how big or small) a JET Fuel Card is something worth looking into. Whilst there are many different fuel cards available on the market from a huge range of providers, we are going to focus on JET Fuel Cards in this guide.
A familiar name in the UK, JET provides two popular JET Fuel Cards to commercial customers all over the UK.
But First, what is a Fuel Card?
Whilst this article is going to focus on JET Fuel Cards, it is important that you know what a fuel card is and how one works in general.
A fuel card or ‘fleet card’ is a payment product that lets a company’s fleet drivers purchase fuel for their vehicles. They are used by organisations big and small, private and public to keep their fleets’ wheels in motion.
Just like with any other fuel card, a JET Fuel Card is a payment method that looks similar to a credit, debit, or store card, and it is used in the same way. The main difference, however, is that a JET Fuel Card can only be used for fuel and fuel-related purposes. It cannot be used for any other means, for example purchasing lunches. It can also only be used at designated service stations, but we will look at this in more detail later.
Using a JET Fuel Card, your drivers will be able to fill up their fleet vehicles as normal and then use the card to ‘pay’ for the fuel drawn. Every so often, usually weekly or monthly, an invoice will be sent via an online platform that bills a single figure plus VAT that is the total for all fuel drawn within a given time period. This single figure makes the admin-side of things a complete breeze and your drivers will be happy because they don’t have to handle receipts or claim expenses.
How Do Fuel Cards Work?
All fuel cards, regardless of provider, work fundamentally in the same way – they are like a credit, debit, or store card, except they may only be used for fuel and fuel-related purchases.
A typical fuel card is printed with some basic information (often your company’s name and the authorised user or assigned vehicle) and features a magnetic strip, signature strip, and chip for PIN verification.
Most fuel cards, including JET Fuel Cards, come with an online fleet management system such as Velocity. Using this system, you can manage your fleet cards online, view fuel spend, driver mileage and routes, and access invoices, amongst other things.
Where Can My Drivers Use a JET Fuel Card?
This depends on which JET Fuel Card your drivers are using – there are two different ones. Regardless of which JET Fuel Card your drivers are using, though, they all come with the following features:
- 24-hour account management via the Velocity fleet management dashboard;
- PIN code protection;
- No joining fee and no deposit required;
- HMRC-approved invoices;
- Optional discounted AA membership rates; and
- Full administrative card control.
The ‘JetCard’ JET Fuel Card
The JetCard JET Fuel Card is the ideal solution for businesses that operate a fleet locally or predominately in urban areas such as towns and cities.
There is no joining fee or deposit required, no minimum usage, and the card is accepted across JET’s network of over 330 filling stations. All these stations are located across Britain’s major towns and cities, meaning that your fleet drivers will never be too far from their nearest pump. At these independently-owned stations, profits go back into local communities and fuel is provided by Phillips 66. According to JET, fuel purchased with a JetCard JET Fuel Card is charged according to ‘competitive pump pricing’.
In addition to all this, you can also purchase other vehicle-related goods, car wash usage for instance, at their forecourts.
The ‘FleetOne’ JET Fuel Card
The ‘FleetOne’ JET Fuel Card is the ideal solution for businesses with a fleet of cars or vans that operate nationally instead of within more localised areas.
FleetOne’s network is a lot bigger than the basic JET Fuel Card network. At the time of writing, fleet drivers can fill up at over 3,500 major branded sites. This means that drivers can pull fuel from some of the country’s most competitively priced sites, leading to more savings for your business. Sites that form part of the ‘FleetOne’ network include JET, Texaco, Morrisons, and Tesco. This qualifies ‘FleetOne’ as a supermarket fuel card, too.
In terms of fuel pricing, ‘FleetOne’ is the UK’s only card that offers both retail and commercial pricing on a single card. You are able to choose between pump or commercial pricing when it suits you, switching between them at will. This allows yourself and drivers to take advantage of the lowest pricing at a given point in time. This is available at all core UK Fuels fuel stations; pump pricing is paid at all other sites.
Benefits of Using a JET Fuel Card
There are several benefits associated with the use of a JET Fuel Card. These include:
Cost Control – Regular invoicing and real-time usage reports help you control fuel expenditure and keep within your budgets. You know who is spending money on fuel and where.
Efficiency – The Velocity fleet management tool that comes with JET Fuel Cards means that you can monitor your fleet’s fuel efficiency. This allows you to improve performance and nip poor behaviour and performance in the bud.
HMRC Compliance – Invoices sent via Velocity when your fleet drivers use their JET Fuel Cards are entirely compliant with HMRC standards. This simplifies paying fuel expenses and allows you to easily reclaim VAT.
The above benefits don’t just apply to a JET Fuel Card. In fact, they apply to virtually every other fuel card available on the market. Some of the more valuable benefits include:
1. Your business will save time on fleet admin
As you may well know, fleet admin can be a major time sink. This is especially true for larger fleets. When push comes to shove, time translates to money and this means that you should be doing all you can to streamline your fleet admin and reduce the burden it places on your staff. One way to do this, as you may have guessed, is through the deployment of fuel cards within your business.
When your drivers use their JET Fuel Cards in place of traditional payment methods (e.g. their own cash or cards or a company credit card), this eliminates a lot of fleet admin. This is because fuel cards eliminate the need for your drivers to keep receipts and submit expense forms, and for your admin staff to process them.
Instead of being sent receipts, all fuel card data from your drivers’ activity is captured and used to create an invoice. These invoices are typically sent either weekly or monthly (provider dependent) and include a single figure for all fuel drawn plus VAT – that’s it, that’s all the paperwork you get.
2. Your business will save money on fuel
We have already touched upon this benefit slightly. Fuel card providers like to reward their customers through competitive pricing models. Whether it is fixed weekly pricing, wholesale deals, or pump pricing, most providers offer something. Although the savings may seem small, they soon add up (particularly with larger fleets) and can lead to big savings.
The ‘FleetOne’ Fuel Card featured above can also be used at selected Tesco and Morrisons supermarkets.
3. Your business will benefit from tracking and fraud protection
JET Fuel Cards come with the Velocity online fleet management tool. With this, you can track and monitor your fleet vehicles in real-time. Information such as fuel usage and spend, driver activity and mileage, current and past invoices, and fuel efficiency data can be seen at any time and from anywhere. This aids management-level decision making and planning.
Additionally, JET Fuel Cards provide an additional level of protection against the possibility of fleet fraud. This is because their fuel cards can only be used for fuel-related purchases against a prescribed vehicle or by a designated person. This goes a long way to mitigate the chance of fraudulent purchases taking place and being sneakily put through your company’s expenses. It may not be happening or have happened in the past, however, it’s always good to have the protection there.
Choosing the Right Fuel Card for Your Business
Although most fuel cards are the same so far as the fundamentals are concerned, all fuel cards are different when it comes to the finer details.
The pricing and forecourts that a JET Fuel Card gives your drivers access to, for example, is not the same as a BP Fuel Card; they are two different fuel cards that serve two different commercial needs.
This is why there is no ‘one size fits all’ solution for commercial fuel cards and why it is important that you compare the different fuel cards available. By doing this, you will end up with the best deal for your business.
Compare the JET Fuel Card Today
Why not compare a JET Fuel Card alongside a huge range of other ones? This way, you will see for yourself which one will provide your business with the best value for money, amongst other things.
The JET Fuel Cards can be found and compared against others through the iCompario website.
iCompario is operated by fuel card experts with over 30 years’ industry experience. By using their clever tool, you can quickly compare the JET fuel card alongside a range of cards from other providers. iCompario’s fuel card experts are also on-hand to help should you need it.