ComparisonLast checked 8 November 2026

Incard vs Equals Money: which suits your business?

Incard is an e-money account that pays uncapped cashback on eligible card spend on a £0 plan, with team cards and GBP, EUR and USD IBANs. A multi-currency business account with Mastercard expense cards for staff and unlimited platform users. Plans are priced by the number of physical cards.

By the editorial team. How we make money.

Incard suits you if

You spend thousands a month on cards, especially on advertising, software or travel
You want a £0 plan, which Equals Money doesn't list
You want card cashback, which Equals Money doesn't list
You want accounts for UK sole traders, which Equals Money doesn't list
You're comfortable with safeguarding instead of FSCS cover

Equals Money suits you if

Your team spends abroad and you want no card FX fee in 21 major currencies
You want to hold, send and receive money in 35+ currencies
You want unlimited platform users on a flat plan priced by card count

What a year of card spending earns you

Incard Free against Equals Money's cheapest plan, at your monthly spend on ads, software and travel.

Monthly card spend on ads, software and travel£5,000

£900 a year better off with Incard

Incard Free: £600 cashback, £0 fees
Equals Money's cheapest plan: no cashback, £300 fees

Simple arithmetic, not a forecast: 1% on eligible ads, software and travel spend at merchants on Incard's eligible brand list, and each plan's published monthly fee. Other fees, such as FX and ATM charges, aren't included. Equals Money's cheapest plan: Business: £25 a month (£250 a year).

Why we pick Incard over Equals Money for card spend

Card cashback: Incard: Free: 1% on ads, software and travel, 0.5% on other eligible spend. Higher on Grow and Plus. Uncapped. Equals Money: Not listed.
Currencies you can hold: Incard: GBP, EUR and USD, with IBANs. Equals Money: 35+ currencies.
Card payments in other currencies: Incard: 1.8% on Free, 1.5% on Grow and Plus. Equals Money: Free in 21 major currencies; 1.5% in others.

cashback a year on Incard's £0 Free plan from £5,000 a month of eligible ads, software and travel spend. Simple arithmetic, not a forecast.

£600

Apply for Incard on incard.co

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At a glance

**Table notes:** correct as of 8 November 2026, from each provider's own pages listed under Sources. “Not listed” means the provider's pages we checked don't say.
	Incard	Equals Money
Type and protection	E-money · safeguarded, no FSCS	E-money · safeguarded, no FSCS
Who can open one	UK sole traders, UK limited companies, LLPs, Swiss GmbHs and AGs and Swiss sole traders	Not listed
Cheapest plan	Free: £0 a month	Business: £25 a month (£250 a year)
Plans (monthly)	Free £0, Grow £49, Plus from £199	Business £25, Business Plus £35 a month (£250 or £350 a year); Enterprise custom
Card cashback	Free: 1% on ads, software and travel, 0.5% on other eligible spend. Higher on Grow and Plus. Uncapped	Not listed
Card payments in other currencies	1.8% on Free, 1.5% on Grow and Plus	Free in 21 major currencies; 1.5% in others
Domestic transfers	100 included on Free, 250 on Grow, then £0.30 each	Faster Payments; priced on volume
International transfers	3 included on Grow; otherwise from £5 (SHA) or £20 (OUR)	SWIFT, SEPA and SEPA Instant; priced on volume
ATM withdrawals	2% in the UK, 2.5% abroad	£1.50
Cash deposits	Not listed	Not listed
Currencies you can hold	GBP, EUR and USD, with IBANs	35+ currencies
Accepting card payments	Not listed	Not listed

Where they differ

Based on what each provider lists on its own pages. If a feature isn't listed, check with the provider before you rule it out.

Only Incard lists card cashback, accounts for UK sole traders, accounts for UK limited companies, accounts for LLPs, accounts for Swiss GmbHs and AGs and accounts for Swiss sole traders.

What each one is, and who can open one

Incard

Incard Ltd is authorised by the FCA as an electronic money institution (firm reference number 1027309). It is not a bank. Safeguarded: Incard keeps customer funds separate from its own money, in accounts with authorised credit institutions, and doesn't lend or invest them. Funds are not protected by the FSCS.

Who can open one: UK limited companies and LLPs, UK sole traders and freelancers registered with their local authority, and Swiss GmbH, AG and sole-trader businesses. EEA onboarding is paused until an expected restart in 2027. Public sector bodies, cooperatives, charities, foundations and trusts aren't accepted, and a long list of industries is restricted. Full Incard profile.

Equals Money

Equals Money UK Limited (company number 06268340) is authorised by the FCA to provide payment services (FRN 504547). Equals cards are issued by Equals Money International Limited (company number 09558664), an FCA-authorised electronic money institution (FRN 900493). Safeguarded, not FSCS: money is held in designated safeguarded accounts with Tier 1 banks, separate from Equals' own funds. It isn't covered by the FSCS.

Who can open one: Businesses based in the UK or outside the EEA. Charities and non-profits can apply and pay the standard fees. The pages we checked don't list which legal forms are accepted. Full Equals Money profile.

Our e-money vs bank account guide explains what safeguarding and FSCS cover mean if a provider fails.

When Incard isn't the answer

Incard isn't the right account if

Your business is registered outside the UK and Switzerland. EEA onboarding is paused until an expected restart in 2027
You're a charity, cooperative, foundation, trust or public body, or work in one of Incard's restricted industries

Our pick for card spend

Open an Incard account

Check the eligibility rules first.

E-money · safeguarded, no FSCS

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