Do you know the full story behind your fuel bill? Many fuel cards have hard-to-read statements that are unwieldy at best, and misleading at worst. Look out for these common “fails” – if you notice one or more of them on your statement, you may not be getting the deal you signed up for.
Unclear summaries: Does your fuel card statement show your total rebate, total fees, and prices for fuel? Many fuel card statements make it extremely difficult to understand what you paid and what you got back – and you may not be getting the advertised rebate due to tiering and other restrictions.
Sneaky fees: Does your fuel card statement clearly label and explain each fee you were charged and demonstrate why it was applied? If your program has fees, it’s important to understand what you’re paying for and why. Many programs sneak in “hidden” fees that users didn’t expect – transaction fees, annual service fees, and platform fees are all common. If your program makes this difficult to track, you may discover some hidden fees — and all those separate fees can really add up.
User-friendly labels: Does your statement clearly label the spend of each vehicle and each driver? Are different departments and locations easy to understand? Make sure you have a program that clearly labels each transaction so you know which drivers and vehicles were involved.
Lack of export capabilities: Can you export your statement to Excel or CSV to run reports and make sure everything adds up? This functionality allows you to do the math to make sure all payments are reconciled.
At Coast, we’ve designed a better way – you’ll get unprecedented transparency into your statement, with fuel prices and rebates clearly indicated. We don’t charge hidden fees, and we make it easy to map transactions back to vehicles and personnel. Find out more here.