ComparisonLast checked 8 November 2026

Payhawk vs Soldo

A spend management platform with Visa debit and credit cards, expenses, bill payments, travel and procurement, priced by module. For companies larger than micro-enterprises. Prepaid Mastercard company and employee cards with wallets for team budgets, receipt capture and accounting integrations. It works alongside your business bank account rather than replacing it. We also show Incard, our pick for businesses whose main costs go on cards.

By the editorial team. How we make money.

Where Incard beats both

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

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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What a year of card spending earns you

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

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

£2,388 a year better off with Incard

Incard Free: £600 cashback, £0 fees
Payhawk's cheapest plan: no cashback, £1,788 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. Payhawk's cheapest plan: Growth program: £149 a month.

Payhawk suits you if

Your company is past micro-enterprise size and wants cards, bills, travel and procurement in one place
You want Visa debit or credit cards for staff
You run a single-entity UK business with fewer than 20 staff (but not a micro-enterprise) and want a fixed monthly price

Soldo suits you if

You want prepaid staff cards alongside your existing business bank account
You want separate wallets for team budgets in GBP, EUR or USD
You want to set card rules and limits before money is spent

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.
	Payhawk	Soldo	Incard
Type and protection	E-money · safeguarded, no FSCS	E-money · safeguarded, no FSCS	E-money · safeguarded, no FSCS
Who can open one	Not listed	UK limited companies	UK sole traders, UK limited companies, LLPs, Swiss GmbHs and AGs and Swiss sole traders
Cheapest plan	Growth program: £149 a month	Standard: £27 a month + VAT	Free: £0 a month
Plans (monthly)	Growth £149 a month; modules from $299 a month; custom quotes	Standard £27, Plus £39 a month + VAT; Unlimited on request	Free £0, Grow £49, Plus from £199
Card cashback	Not listed	Not listed	Free: 1% on ads, software and travel, 0.5% on other eligible spend. Higher on Grow and Plus. Uncapped
Card payments in other currencies	1.99%	Mastercard rate + 1.5%	1.8% on Free, 1.5% on Grow and Plus
Domestic transfers	Not listed	£0.75 by Faster Payments; up to 20 a month on Standard, 30 on Plus	100 included on Free, 250 on Grow, then £0.30 each
International transfers	Not listed	SEPA €0.75, SEPA Instant €1.50; SWIFT not listed	3 included on Grow; otherwise from £5 (SHA) or £20 (OUR)
ATM withdrawals	0.5% (minimum £2) on debit, 2.99% (minimum £5) on credit cards	1%, minimum £2	2% in the UK, 2.5% abroad
Cash deposits	Not listed	Not offered	Not listed
Currencies you can hold	Not listed	GBP, EUR and USD wallets; multi-currency on Plus and Unlimited	GBP, EUR and USD, with IBANs
Accepting card payments	Not listed	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 LLPs, accounts for Swiss GmbHs and AGs and accounts for Swiss sole traders.

What each one is, and who can open one

Payhawk

In the UK, payment services and cards are provided by Payhawk Financial Services Limited (company number 14060082), authorised by the FCA as an electronic money institution (firm reference number 987096). The platform is run by Payhawk Limited (company number 11747263). Safeguarded, not FSCS: funds are held with a third-party bank, separate from Payhawk's own accounts. The Payhawk payment account isn't a bank account and the FSCS doesn't apply.

Who can open one: Corporate customers only: Payhawk isn't available to UK micro-enterprises (fewer than 10 staff and turnover or balance sheet up to €2 million) or small charities. The Growth program is for single-entity businesses in the UK or EEA with fewer than 20 employees. Full Payhawk profile.

Soldo

For UK customers, the e-money account and payment services are provided by Soldo Financial Services Ltd (company number 09495650), authorised by the FCA as an electronic money institution (firm registration number 900459). The software is run by Soldo Software Ltd. Safeguarded, not FSCS: funds in your Soldo account are kept separate from Soldo's own assets. The account is not covered by the FSCS.

Who can open one: Incorporated businesses only. Soldo says it can't currently accept sole traders. Plans are subject to eligibility. Full Soldo profile.

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.

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