Fuel card security is crucial to prevent unauthorised usage and protect against fraud, which can result in financial losses for businesses. Fuel is often one of the largest costs for a business so it’s important to ensure all the appropriate security measures are in place.
Without proper security measures, stolen or misused cards can lead to untracked spending, resulting in significant financial losses. Secure fuel cards with PINs, limits, and real-time monitoring help ensure that only authorised personnel can use them, safeguarding your funds. Additionally, strong security protocols protect sensitive data, reducing the risk of cyber threats or data breaches.
In this blog post we will present four fuel card security tips and how they can be implemented.
Our Top 4 Fuel Card Security Tips
- Monitor Transactions Regularly
- Create Transaction Alerts
- Record Who Has Access To Cards & PINs
- Set Appropriate Spending Limits
Continue reading to find out how you can implement each of these tips using the Fuelwise Fuel Card.
1. Monitor Transactions Regularly
Setting aside time once a week to check your fuel card transactions is a great method for protecting your business.
You can do this by using your weekly invoice which includes all of your transactions or by using Radius Velocity.
All transactions are stored on Radius Velocity for up to two years. Learn more about checking transactions by viewing our Fleet Management Tutorials.
2. Create Transaction Alerts
One of the most popular features of Radius Velocity is the ability to create Transaction Alerts.
This is the ability to receive a notification every time a transaction takes place.
If you don’t wish to receive a notification for every transaction then you can create custom alerts. The following custom alerts can be created:
- Transaction during out of work hours
- Transactions over a certain amount
This is a fantastic method for protecting your fuel cards, learn how to create transaction alerts on Radius Velocity.
3. Record Who Has Access To Fuel Cards & PINs
We advise all our customers to keep a record of who has access to their Fuel Cards & PINs, and when they were given access.
This means you will know exactly where each fuel card is and who it will be used by.
If an employee leaves your business, we strongly advise to stop their fuel card immediately using Radius Velocity.
You can also contact our team who will be happy to help
4. Set Appropriate Limits
Similar to a credit and debit card, limits are applied to your fuel cards.
The limits applied include the number of times a card can be used per day and week, plus how much can be purchased per transaction, day and week.
Having limits in place ensures your weekly fuel spend will remain within your allowance.
Fuel Card Security Checklist
We have created an actionable fuel card security checklist that you can use to protect your business.
In this checklist you will find a number of different categories such as card storage and PIN management. Within each you will find actions to take, as well as options to include who is responsible for doing each action and how often.
Category | Action | Who Is Responsible | Frequency |
Card Storage | Store fuel cards in a secure, locked location when not in use. | ||
Avoid leaving cards unattended in vehicles or unsecured areas. | |||
PIN Management | Do not write the PIN on the card or store it with the card. | ||
Monitoring Transactions | Check statements and logs for unauthorised transactions. | ||
Set up transaction alerts through Velocity Fleet. | |||
Investigate unusual patterns or discrepancies. | |||
Usage Restrictions | Assign cards to specific employees or vehicles for accountability. | ||
Restrict usage to fuel or vehicle-related services. | |||
Employee Training | Train staff on secure fuel card practices (e.g., confidentiality, PIN). | ||
Educate employees to report lost or stolen cards immediately. | |||
Incident Response | Report lost/stolen cards to the provider immediately. | ||
Cancel compromised cards and issue replacements. | |||
Audits and Reviews | Conduct regular audits of card usage and expense reports. | ||
Review fuel consumption patterns to detect anomalies. | |||
Policy and Compliance | Define a formal fuel card usage policy. | ||
Update policies to address evolving security risks. |
Protect Your Business With Fuelwise Fuel Cards
Are you ready to protect your business from fuel fraud and control your fuel expenditure?
Signing up for Fuelwise Fuel Cards is a simple process that takes less than 60 seconds to complete.
Simply complete the form below and our team will take care of the rest.
Marketing Manager at Fuelwise
Dominic has been covering the fuel and fleet management industry for over seven years, writing about Fuel Cards, Telematics, and Vehicle Cameras. In 2023 he was awarded the Excellence In Marketing award at the Causeway Chamber Business Awards, followed by the Best Use Of Social Media In Service/B2B at the 2024 NI Social Media Awards. You can connect with Dominic on LinkedIn here.
