Soldo review

Soldo charges a monthly fee of £27 and runs on a no annual fee model (no annual fee), so there is no yearly charge on top. The monthly fee ranks 413 of 419 brands here, against a typical charge of €0, which puts it in the higher priced prepaid accounts.

UK customers sit under the Financial Conduct Authority, recorded as 900459, and Irish customers under the Central Bank of Ireland, recorded as PSD_EMI IE_CBI!C179925. The provider behind both is Soldo Financial Services Ireland Designated Activity Company, so the same issuer handles accounts on either side of the border.

Client funds are safeguarded in segregated accounts at European banks, and the service carries ISO and PCI certifications for information and card data, all listed in Mastercard prepaid debit cards issued to employees, teams or contractors, Apple and Google Pay support and Mobile app receipt capture. The card is prepaid (prepaid), so the balance is money held for spending rather than a deposit.

Multi-currency and virtual cards both appear as features (multi currency and virtual card), and the perk list names multi-currency wallets on the Plus and Unlimited plans (Mastercard prepaid debit cards issued to employees, teams or contractors, Apple and Google Pay support and Mobile app receipt capture). Virtual cards sit alongside the physical prepaid Mastercard cards in the same list, so a company can hand out card details without issuing plastic.

The perk list carries accounting, ERP, HR and eCommerce integrations with Xero, QuickBooks, Sage Intacct, NetSuite and Amazon Business (Mastercard prepaid debit cards issued to employees, teams or contractors, Apple and Google Pay support and Mobile app receipt capture), plus receipt capture in the mobile app and Apple and Google Pay support. That suits a finance team already running one of those systems.

Support runs on chat, email and help centre, so chat, email and a help centre are the channels, with no phone line listed. A blocked payment at short notice is therefore handled in writing rather than by a call.

The rewards type is listed as none (none), so there is no cashback, points or miles to offset the £27 monthly fee. On this site 49.5% of cards pay cashback and 19.8% pay points, so a rewards-led reader will find nothing to set against the standing cost.

The audience is business (business), and the perk list describes prepaid Mastercard debit cards issued to employees, teams or contractors (Mastercard prepaid debit cards issued to employees, teams or contractors, Apple and Google Pay support and Mobile app receipt capture). The account is built for a company controlling spend for people who do not own it, rather than a personal account for a single user.