Soldo Review Ireland

Soldo takes the hassle out of managing your business spending. Let's take a look.


Fact checked
Soldo Cards
Soldo brings together banking, admin and accounting features that allow you to manage your employees’ expenses – helping to give your company greater control of its spending cycle.

Our review looks at Soldo’s features, fees, pros and cons to help you decide whether it would make your business’s (and your own) life easier.

Soldo business cards now operational

Soldo business cards are now operational, according to an announcement from the company on Twitter. This follows a brief period where the cards were temporarily offline due to the suspension of Soldo’s payments provider Wirecard by the FCA. Soldo received no notification prior to the suspension, which affected over 70 other fintech providers.

Soldo will reach out to customers will more information shortly.

Product NameSoldo Pro
Monthly fee€5
Number of usersUnlimited
Fee for additional users€5
Free monthly Euro transfers40.000 €
Free international transfer limitN/A
Currency conversion fee1%
Product NameSoldo Premium
Monthly fee€9
Number of usersUnlimited
Fee for additional users€9
Free monthly Euro transfers40.000 €
Free international transfer limitN/A
Currency conversion fee1%

What is Soldo?

Let’s start with what Soldo is not: Soldo isn’t a bank nor does it offer a full bank account. It calls itself a “spend control and management platform” and its range of products include:

  • A spending account. The account is in the name of the company and it can be used to allocate money to various employees, who will use it for their expenses. If an employee’s expenses follow somewhat of a regular pattern, you can also set up auto top-ups so that you don’t have to remember to put money on their card every month.
  • Prepaid Mastercard cards. You’ll give them directly to your employees. You could get as many as you need and – since they’re prepaid cards, not debit or credit cards – you’ll only have to put as much money as the employee is expected to spend. You can also get virtual cards for online shopping. Soldo’s cards can be used in three different currencies: euro, sterling or dollar.
  • A mobile app. It comes with a series of features to help you track your spending, such as reports and real-time notifications. Both you and your employees can get the app.

Soldo was founded in 2015 and is currently available in Ireland, the UK and in the rest of the European Economic Area. The company is headquartered in London and has an office in Dublin.

How does Soldo work?

Once you’ve signed up, you need to top-up your Soldo account via bank transfer from your company’s main account. You can then start organising your expenses.

From the mobile app you can: create multiple users among your employees, provide each of them with a prepaid card and start allocating money.

Your employees will be able to add the picture of the receipt to a transaction and to tag it according to a set of categories you pick.

You’ll get a notification when something happens and also a variety of spending reports, which can be exported into spreadsheets and uploaded to your accounting software.

Compare all Soldo for business products in Ireland

Data indicated here is updated regularly
Name Product Monthly fee Number of users Free monthly Euro transfers
Soldo Pro
Soldo Pro
40.000 €
Soldo Premium
Soldo Premium
40.000 €

Compare up to 4 providers

Soldo’s pricing and fees

Soldo currently offers a couple of different pricing plans:

  • Soldo Pro. It costs €5 per month per card (excluding VAT), includes foreign currency cards, receipt capture and auto top-ups; but not all reporting and spending control features.
  • A Premium plan. For €9 per month per card (excluding VAT), you can get the full package which includes: advanced reporting, non-nominative cards and custom configuration of company roles.

You can also expect fees including:

  • One-off fees for each new card. € 5.00 for a physical card that will be shipped to you, €1 for a virtual one you can start using immediately.
  • ATM withdrawal fees. €1 each time one of your employees withdraws cash in Ireland, if they’re abroad.
  • Currency exchange fees. You’ll pay a fixed currency exchange fee of 1% for using the card in another currency than the one linked to your card.
  • Bank transfer fees (not in Ireland). Soldo will charge you for money transfers abroad, which includes a €16 charge for non-Single Euro Payments Area (SEPA) transfers.

It’s important that you read Soldo’s full list of fees and limits on its website so that you understand all the charges you can expect to face with this account.

Essentially, the typical way of using Soldo would be to move money from your main account and then allocate it to your employees, who can then use it to make purchases with the card. If you use it that way, you aren’t charged any extra fees.

Is Soldo suitable for my business?

Soldo offers a somewhat unique service by putting together banking and expense management, which isn’t that common among its competitors. It considers itself “ideal for small businesses” – if you’re running a big one, you’ll probably do your expense management differently rather than giving each employee who needs it a prepaid card.

Soldo offers a 30% discount to not-for-profit businesses, which sometimes have a hard time managing their expenses smartly due to the high number of people involved in the running of operations.

Soldo can become a bit pricey if much of your business’s expenses happen abroad – its 1% foreign currency transaction fee is more competitive than most traditional banks’, but some digital-only competitors offer a full business account with fee-free spending abroad in more currencies. Revolut for Business, for example, comes in multiple different currencies.

Is Soldo safe?

Soldo isn’t a bank, but it is regulated by the Financial Conduct Authority (FCA) and the Central Bank of Ireland. In 2019, the company was awarded an E-Money licence from the Central Bank.

Customers’ money is kept in segregated accounts, which means that if something happens to Soldo, that money can’t be used to pay its creditors.

Finally, if any of the prepaid cards are lost or stolen, you can block them instantly from the app.

Pros and cons of Soldo


  • It brings together banking and expense management
  • Multiple users and cards to meet your needs
  • Useful tracking features to help you stay on top of your expenses
  • Data can be exported into your accounting software
  • Virtual cards for hyper-safe online shopping
  • It comes with both an app and a web interface


  • ATM withdrawal and foreign currency transaction fees on top of the monthly one
  • You still need a regular business bank account for most of your financial needs
  • Still safe, but not FSCS-protected

The verdict

Soldo isn’t meant to be a bank, so you really shouldn’t use it to manage your day-to-day business banking – it would be unpractical.

However, it’s a tailored and smart solution for expense management, and if you need that, it’s probably a good investment. If you have a set of employees you often have to give your business debit card to, Soldo can save you a lot of trouble. Many business accounts are only conceived with a single user in mind, so Soldo’s different approach may be what you’re looking for. The prepaid cards can be personalised with the employee’s name, so everything will be crystal clear and well-organised.

On the other hand, Soldo won’t be necessary if you’re the one doing most of the spending – a regular business account will probably do just fine.

Compare Soldo Business with other digital banks for businesses in Ireland

Data indicated here is updated regularly
Name Product Monthly fee Number of users Free monthly Euro transfers
bunq Business
Benefit from multiple accounts, the ability to link your bookkeeping software, receipt linking, employee access, and simple payments.
N26 Business
A convenient business account for freelancers. Benefit from cashback, spending categorisation and free foreign currency payments.
Soldo Pro
Soldo Pro
40.000 €
N26 Business You
A premium business account with free foreign currency payments, cashback and a complimentary insurance package.

Compare up to 4 providers

Frequently asked questions

Ask an Expert

You are about to post a question on

  • Do not enter personal information (eg. surname, phone number, bank details) as your question will be made public
  • is a financial comparison and information service, not a bank or product provider
  • We cannot provide you with personal advice or recommendations
  • Your answer might already be waiting – check previous questions below to see if yours has already been asked provides guides and information on a range of products and services. Because our content is not financial advice, we suggest talking with a professional before you make any decision.

By submitting your comment or question, you agree to our Privacy Policy and Terms.

Questions and responses on are not provided, paid for or otherwise endorsed by any bank or brand. These banks and brands are not responsible for ensuring that comments are answered or accurate.
Go to site