For years, Equals Spend has been a trusted tool for businesses, providing an efficient solution for expense management. However, as business needs evolve, so must the technology that supports them. That’s why we are excited to introduce Equals Money, the next-generation platform designed to offer a more comprehensive, dynamic, and user-friendly experience for managing business expenses and payments.
Equals Money builds on the strengths of Equals Spend but brings a host of new features, improved functionality, and a more intuitive interface, tailored to meet the growing demands of modern businesses. Whether it’s enhanced visibility, greater control over company spending, or seamless integration with existing financial systems, Equals Money offers everything you need in one powerful platform.
In this blog post, we’ll discuss the main differences between the two platforms, as well as new enhancements the Equals Money platform has to offer.
Equals Money: Spend management made simple
Multi-currency cards
- 20 currencies, one card - A single Equals Money card can now spend from 20 different currencies held within it’s assigned balance. So there’s no longer a need for some cardholders to have a separate card for each currency. Therefore, there will be a limit of one Individual card max per person.
New types of cards
- Virtual cards - As well as physical cards, we now offer the ability to issue virtual cards. This means you can generate a virtual card instantly and start spending online moments later, no more waiting for the post.
- Device payments - Individual cards can also now be added to Apple Pay, Google Pay, and Samsung Pay for convenient payments wherever you are.
- Shared cards - As well as Individual cards (cards assigned to specific people), we’ve created a new type of card, the Shared card. This can help you segregate different types of payments, including online recurring payments (such as subscriptions) away from cards assigned to real people.This type of card is a virtual-only and cannot be added to a device. Its sole purpose is for online spending. Create a card, give it a name, for example, “Zoom subscription”, link it to the required balance and use that to manage your spending.
- Debit cards - As well as prepaid cards, we also now offer debit cards. So, in the (rare) situation a merchant does not accept prepaid cards, we can offer an alternative.
Additional card spend controls
- Spending limits - You can now apply additional controls to how much a cardholder can spend from their balance. Spending limits can be set daily, weekly, or monthly spend limit which will automatically refresh. Alternatively, you can set a lifetime limit which will prevent a card from spending over a certain amount without it refreshing after a certain time. In addition to the spending limit, you can also set transaction limits, providing a maximum single transaction value.
- ATM blocks - Prevent unwanted cash withdrawals, new ATM blocks can now be applied to each cardholder within the platform.
Additional card balance options
- Shared balances - Individual cardholders can now spend from a shared balance between multiple people, as well as have their own individual balance.
- Improvements to how you credit money into your account - Each balance will be issued with a unique set of account details in your company’s name. This includes an account number and sort code for domestic credits in GBP, as well as a multi-currency IBAN for crediting up to 38 different currencies. Additionally, GBP incoming credits via Faster Payments and EUR incoming credits via SEPA should now be credited within seconds. You will also benefit from the ability to receive credits outside of traditional working hours, including weekends and bank holidays.
Xero integration
- Bank feed integration - With our Xero integration, automatically sync bank transactions to your Xero account on a daily basis, removing the need for manual data entry and reducing the potential for human errors.
PDF and CSV statements
- Statement export options - New PDF and CSV export options. Please note: the CSV exports are in a different format than before.
The Equals Money mobile app (IOS & Android)
- New Equals Money app - Equals Spend and Equals Money are two separate mobile apps. As long as you’ve been added to both accounts with the same email address, you will be able to login to either using the same login credentials. Logging into the website will remain the same URL: https://app.equalsmoney.com/
How do I get more info?
For more information about Equals Money and the upgrade process, please don't hesitate to reach out. Visit our Contact Us page for all the ways to get in touch with our team. We're here to answer any questions and provide the support you need to make the transition smooth and successful.
