Soldo Financial Services - any experience?

[Forester]

I am considering to use Soldo (Prepaid Company Cards & Automated Expenses | Soldo) as a card provider (cards issuing and management, not card payments processing) for a small company (~<5 cards, i.e. their “Free plan”). What they present on the website looks OK, the info here https://thebanks.eu/emis/soldo-financial-services-354838 and here https://thebanks.eu/emis/soldo-financial-services-ireland-354888 too. I heard that they might work fine, but with no details. Here at OCT they are mentioned a few times, but just mentioned. Any other input? 🙂 Thanks in advance...

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I am just a simple countryman. Anything I say is only a personal opinion, not a certified advice 🙂

If you think it makes sense, you can like it; if opposite, please, tell me, why I am wrong...

 

[Sols]

They are a pretty good choice if you can't get cards through your normal EMI/bank‌ for some reason.

 

[Forester]

Well, we can get cards (and we‍ have some) at least to one of our current accounts (with Intergiro); but I appreciated⁠ the possibility of a central administration of cards, for the specific reason: some of my⁤ colleagues are not able, as being handicapped, to manage a smartphone application that is otherwise⁣ necessary for administering a card (limits, statements, blocking etc.). As I have understood Soldo's offer,⁢ there is a concept of central cards administration when holders are just plain users...
May I ask, what is a background of your statement? Does they have more soft KYC/KYB,︀ or (another possible interpretation) is their service somehow less valuable than usually, or... ?

 

[Sols]

KYC is normal. Limits start lower than you'd get with a normal company debit or‌ credit card. Annoying if you have for example five/six-figure web hosting/SaaS bills per month or‍ need to do other high value card transactions. Can be increased over time, though.

 

[Forester]

OK, I understand (and agree). For our use-case, this does not⁤ seem to be a problem – if, say, low 4 figures transactions are OK or⁣ can be easily reached...

 

[cyprusbanker]

Wise debit card works well for almost any purpose.