Corrib Oil Fuel Card
Founded in Claremorris Co. Mayo in 1987, Corrib Oil now supports over 650 local jobs in the midlands and the west of Ireland - including Tralee and Cork - through their network of home heating oil depots, delivery services and petrol stations.
What is the Corrib Oil Fuel Card?
The Corrib Oil Fuel Card is a business payment program that requires drivers to buy fuel for the cars they are using for business purposes – basically, a credit card that is limited to fuel-related transactions only. Corrib Oil Fuel Card offers customers flexible and low-cost solutions to manage their fleets efficiently.
How does the Corrib Oil Fuel Card work?
Corrib Oil Fuel Card works by allowing company individuals to fill up at supermarket filling petrol stations. Instead of paying with cash or credit/debit cards, the company employee presents the Corrib Oil Fuel Card to the cashier. The company is billed directly, and the employee can collect a receipt as proof of purchase.
Therefore, the transactions amongst the cards are examined and sent as a consolidated, HMRC approved invoice of the purchases. This means that the business saves both time and money and gains productivity as only fuel and key associated services are available to purchase using the Corrib Oil Fuel Card.
Corrib Oil fuel cards are accepted through an extensive network of Corrib Oil petrol stations and fuel depots as well as Ireland's full network of Circle K Service Stations.
Why Corrib Oil Fuel Card?
Corrib Oil Fuel Card offers a wide range of unique benefits to you and your business, including competitive petrol and diesel prices, and more security by eliminating the need to carry cash.
What is the difference with a regular credit card?
Although fuel cards are similar in looks to credit cards and use very similar technology, their use and implementation are very different.
The main differences from credit cards are:
- Payment terms are often shorter
- no rolling-balance is cleared each month
- it can be cheaper because of its system designed to bypass credit card interchanges
- their markups and transactions can be customised
- fraud prevention systems exist to block service areas by nation,
- the fuel isn’t paid at the point of sale – it is allocated on account for payment at a later date.
Depending upon the individual fuel card and the supplier, security benefits of fuel cards can include:
- cashless transactions
- chip and PIN protection
- detailed invoicing
- online account administration
- transaction restricted to fuel-related products
- reporting of unusual transactions, daily transaction limits
- real-time email or text message “e-Receipts” of operations plus other added features of smart chip technology.
Fuel cards are more than merely a convenient way to pay for fuel; they can benefit a business in many ways:
- Fuel Cards can provide greater control over business expenses and improve cashflow
- they are invoiced every week, which can help by breaking down the monthly cost of fuel into smaller, more manageable bills.
- Fuel Cards also help with fuel budgeting and planning due to online account management software that allows you to see fuel usage, making it easy to predict your fuel costs into the future. The reporting tools of account management will enable you to manage your fuel expenses over the months so that long-term budget planning is more accurate.
- It can also help with potential savings on fuel, as many fuel cards are offering different benefits and savings.
- It reduces the time spent on administration.
Reclaiming VAT becomes easier with all transactions detailed on tax-compliant invoices, saving both time and money. Each fuel card is PIN-protected, and a vehicle registration number can also be assigned.
Reporting via account software management can help businesses identify any suspicious behaviour. Alerts can be set up for specific occurrences, such as late-night refuelling, weekend use, large fuel withdrawals, or when gas is purchased outside a particular area.
What other options do I have?
Apart from the Corrib Oil Fuel Card, there are fuel cards available in Ireland such as the DCI Card, FuelPlus and Fastfuel amongst others. Here are the main ones:
- DCI Card is one of Ireland’s leading businesses in fuel cards. It presents easy access to over 1,450 nationwide service stations offering competitive fuel pricing, convenient fuel management online with Velocity and free vehicle check solution.
- FuelPlus has a large selection of fuel cards available and helps the client choose the one that best fits its needs. They also have access to over 1,450 nationwide service stations offering competitive fuel pricing with fuel consumption analysis helping the client develop comprehensive fuel policies. As well as the DCI Cards, the online account management tool; Velocity makes fuel management much easier. They also offer an e-route planner and the possibility to track vehicles with innovative telematics.
- FastFuel offers competitive fixes pricing across all 400+ sites on both diesel and unleaded petrol. They offer Revenue approved invoices which make it easier to claim back VAT and also allows the client so plan their journey online via e-route downloading the App or straight to the SatNav.
Once you’ve understood the benefits of a fuel card, you can choose the one that fits your needs. Choosing the right fuel card is essential; that is why iCompario is a brilliant tool to help you select which card is right for you.
It’s important to compare to choose the best option, but how?
iCompario is the largest card comparison site. Launched in 2017, it has rapidly grown to become one of the most respected fuel-card and fleet solution comparison websites.
The team is made up of fuel-card specialists with years of industry experience who clearly understand how important work-life balance is.
iCompario believes that money is earned through hard work and the effort spent finding the right product is essential, whether you’re a one-person show, SME or big business. For some businesses, this will mean getting access to a single fuel card which best suits their needs. On the other hand, for others, iCompario can source multi-card offerings to ensure that, wherever their drivers are, they always have competitively priced and tailored fuel cards.
iCompario helps the user find their best fuel card based on their needs.
iCompario is dedicated to helping businesses save time and money when it comes to your fuel-card and fleet management needs. It provides clear and solid information so the client can apply for a product that meets the specific business needs. iCompario presents you with the best deals and makes the task of searching across a massive network effortlessly.
Compare now to find the right fuel card for your business and enjoy the benefits of fuel cards today!