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Capital on Tap review

Updated September 28, 2026 · DebitCue Editorial Team · Facts checked September 26, 2026

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Our verdict

Capital on Tap is a business credit card from a Financial Conduct Authority licensed provider, built for companies that want unlimited free cards for staff with no monthly charge. Borrowing costs an APR of 13.86%, the monthly fee is £0, and the currency conversion fee is 0%.

Key facts

Best for
A UK small business that needs unlimited staff cards and pays suppliers abroad, with no monthly charge.
Monthly fee
£0 (Source, checked September 26, 2026)
Currency conversion fee
0% (Source, checked September 26, 2026)
Free ATM withdrawals
£0 (Source, checked September 26, 2026)
Card type
Virtual (Source, checked September 26, 2026)
Cashback rate
1% (Source, checked September 26, 2026)
Card network
Visa (Source, checked September 26, 2026)
Legal entity
New Wave Capital Limited (Source, checked September 26, 2026)
Headquarters
United Kingdom (Source, checked September 26, 2026)
Founded
2012 (Source, checked September 26, 2026)
Support channels
Email, Chat, Phone, Help-centre (Source, checked September 26, 2026)
Features
Virtual card, Travel
Audience
Business
Official website
capitalontap.com

Credit cards

Annual fee
£0 (Source, checked September 26, 2026)
APR
13.86% (Source, checked September 26, 2026)
Currency conversion fee
0% (Source, checked September 26, 2026)
Rewards type
Cashback (Source, checked September 26, 2026)
Rewards rate
1% cashback on all card spend (1 point per GBP 1 spent) (Source, checked September 26, 2026)
Perks
Unlimited free employee cards, No foreign exchange or ATM fees, 24/7 customer support, Convert points to Avios, Virgin Points, Go Coins and Radisson Rewards, Preloading with own funds, Easy-access Instant Savings account, Accounting integrations (Xero, Sage, QuickBooks, FreeAgent), Virtual cards issued on approval, Credit limits up to GBP 250,000 (Source, checked September 26, 2026)
Cashback rate
1% (Source, checked September 26, 2026)
Card kind
Credit (Source, checked September 26, 2026)
Legal entity
New Wave Capital Limited (Source, checked September 26, 2026)
Headquarters
United Kingdom (Source, checked September 26, 2026)
Founded
2012 (Source, checked September 26, 2026)
Support channels
Email, Chat, Phone, Help-centre (Source, checked September 26, 2026)
Pricing model
No annual fee
Features
Virtual card, Travel
Audience
Business

Apps and profiles

Get the app
App Store
Elsewhere
TrustpilotLinkedInXfacebook.com

Pros and cons

Pros

  • No monthly charge: the monthly fee is £0 and the annual fee is £0.
  • A currency conversion fee of 0% on card spend abroad, against 0.1% at Wise.
  • Unlimited free employee cards, a virtual card issued on approval, and accounting integrations with Xero, Sage, QuickBooks and FreeAgent.

Cons

  • It is a credit line, so any balance carried is charged interest at an APR of 13.86%.
  • The free ATM withdrawal allowance is £0, so cash machine withdrawals are not part of the deal.
  • Cards are virtual only, which leaves out a physical card for in person payments.
Capital on Tap

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Scored 9.1 / 10 by DebitCue.

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Who it suits

  • UK businesses that want unlimited free cards for staff and one in each new starter's name.
  • Companies paying suppliers, contractors or staff abroad who want no currency conversion charge.
  • Bookkeepers who want card spend to land in Xero, Sage, QuickBooks or FreeAgent.

Who should look elsewhere

  • Anyone who wants a physical card rather than a virtual one and will accept a foreign exchange fee of 2.75% on HSBC UK Classic Credit Card.
  • Teams that lean on free cash machine withdrawals abroad: Monzo Flex carries a free allowance of £200 against £0 here.
  • Personal accounts and personal spending: Wise serves that side of the market, while the audience for this card is business.

How it compares on our data

On monthly fee it ranks 1 of 419, and on currency conversion fee 1 of 259, so it sits at the front of the cost and travel tables. The gap is on cash machine withdrawals, where it ranks 41 of 115 on the free allowance. Strong on fees for spending abroad, weaker on withdrawals.

How Capital on Tap compares

Where Capital on Tap is available

Available
United Kingdom, United States
Licence in United Kingdom
Financial Conduct Authority (900922), checked September 26, 2026

Countries from the brand (Source, checked September 26, 2026)

Frequently asked questions

What does a Capital on Tap card cost?+

There is no monthly charge: the monthly fee is £0 and the annual fee is £0. Currency conversion on card spend abroad is charged at 0%, and the free ATM withdrawal allowance is £0. The ongoing cost that matters is interest, at an APR of 13.86%.

Is it a debit card or a credit card?+

It is a credit card, and the card you receive is virtual. Spending draws on a revolving balance you can preload with your own funds, and anything not cleared in full accrues interest at an APR of 13.86%. There is no debit card version of the account.

Who is the card aimed at?+

The audience is business, so this is a company card rather than a personal one. It comes from New Wave Capital Limited, a UK company that has been running since 2012. Teams that pay invoices abroad or hand cards out to staff are the ones it fits.

Who regulates Capital on Tap?+

The provider holds a Financial Conduct Authority licence in the UK, listed as 900922. It runs on no annual fee terms, and the account is set up under a revolving credit facility agreement, which is why this is a credit product rather than a savings account.

How many cards can a company issue?+

Unlimited free employee cards are included, and each card is virtual, issued once the account is approved. Teams can hand a card to each new starter and keep the spend feeding into the same accounting software, including Xero, Sage, QuickBooks and FreeAgent.

What rewards do the cards earn?+

Rewards come as cashback at 1% on all card spend. Points can also be converted into Avios, Virgin Points, Go Coins and Radisson Rewards, so a company that flies often can move its points into a travel programme rather than take the cash.

How do I get help if a card is used abroad?+

Support runs on email, chat and phone, with round the clock cover listed among the account features. A phone line, live chat, email and a help centre are all included, which matters when a card is used overseas and a transaction needs explaining.

Sources

  • capitalontap.com/en checked September 26, 2026

    Backs: Card type, Cashback rate, Features

    “Create virtual cards in seconds and start spending the moment you are approved for a Capital on Tap Business Credit Card”

  • capitalontap.com/en/business-credit-cards checked September 26, 2026

    Backs: APR, Cashback rate, Pricing model, Perks, Rewards rate, Rewards type

    “The Capital on Tap Business Credit Card annual rates are as low as 13.86% (variable). Your final rate depends on your personal and business credit history and the Bank of England base rate.”

  • capitalontap.com/en/company/about checked September 26, 2026

    Backs: Founded, Headquarters, Legal entity, Licences

    “Capital on Tap is founded in London by CEO David Luck with the mission of providing small businesses with access to funding”

  • capitalontap.com/en/company/partners checked September 26, 2026

    Backs: Free ATM withdrawals, Currency conversion fee

    “Our cardholders enjoy no annual, ATM, or foreign transaction fees on their account”

  • capitalontap.com/en/faq checked September 26, 2026

    Backs: Annual fee, Audience, Monthly fee, Card network, Support channels

    “Free card: Our free Capital on Tap Business Credit Card has no joining, annual, or monthly fees.”

  • capitalontap.com/en/legal/revolving-credit-facility-agree... checked September 26, 2026

    Backs: Card kind

    “Revolving Credit Facility Agreement: Your credit limit is set out in your Online Portal. The credit limit is the most you are allowed to borrow on your credit account with us.”

Compiled from 6 source pages, checked September 26, 2026. We did not open an account.

Not confirmed yet: Protection.

Capital on Tap

Capital on Tap

A UK small business that needs unlimited staff cards and pays suppliers abroad, with no monthly charge.

9.1/10See alternatives