Welcome to our FAQ

Here we answer frequently asked questions about Cledara. Please visit this page regularly as we update it as we receive new questions.

Joining Cledara

How much does Cledara cost?
We offer a 14-day-free trial for all Cledara customers. After that, plans for Cledara start at just £10 per company per month.
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See the pricing plans here.
What is needed to open a Cledara account?
You need to be a company authorised person that can manage payments on its behalf. You will need to fill in some basic information about you, your business and any shareholders that hold more than 25% of the company.

You will also have to share some documents with us in order to meet financial regulation, just like when you open a new company bank account. This will include a picture of the passport of all directors, as well as a picture of a passport and a proof of address (e.g. utility bill) for any shareholders that hold more than 25% of the business.

Don't worry, once you click sign-up, Cledara will walk you through all the documents that you need to submit.
I don't have all the documents required to open a Cledara account to hand. What can I do?
We understand that chasing directors and shareholders for copies of personal documents can be a challenge. If you're having problems getting the complete set of documents, email us at hello@cledara.com and we can help find a solution.
What are the transfer limits?
There are no limits on transfers in or out of your Cledara account set by Cledara. Note that individual transfers into Cledara may be limited by the payments systems – for example GBP Faster Payments is limited to GBP 250,000 per transfer.
Is there a limit to the money I can have in the account?
No, there is no limit to the amount of money that you can keep in your Cledara account.
Where is my money held and is it safe?
The funds transferred to your Cledara account are held by our financial services provider PayrNet.

Your money is safe as funds are securely held under a ring-fenced segregated Client Account as per the UK FCA’s Safeguarding Rules. These funds are bankruptcy remote from both Cledara and its financial services provider, PayrNet.

Only you are permitted access to your funds. Cledara cannot take any risk with your money. We can’t lend it out as traditional banks do.
What type of card is a Cledara card?
It’s a virtual Mastercard Debit card. Cledara provides Debit cards, rather than prepaid like many other fintech companies as we find that many more merchants accept debit cards, meaning you can use your Cledara Mastercard in more places.
What is a virtual card?
A virtual debit card is a debit card that is issued (or usable) without a corresponding plastic card. The virtual card numbers can be used to purchase goods or services in the same way that a regular card can.
How much does it cost to issue a virtual card?
The cost of card issuance is included in your plan. Issuing a card does not incur any additional costs.
Will my Cledara virtual card work in other currencies?
Yes, you can pay with your Cledara Mastercard wherever Mastercard is accepted online. We do not charge any foreign currency fees and we provide you the official Mastercard foregin exchange rate at the moment of transaction.

This means that if you are paying for SaaS in foreign currency (e.g. USD), you can typically save 2-3% compared to paying for SaaS with your existing banking provider.
How much does Cledara charge for FX?
Cledara does not charge any additional FX fees. Any payment made with a Cledara Mastercard in a currency that is different to your Cledara account will be converted at the Mastercard rate with no markup.
How is Cledara regulated?
Cledara Limited is Registered in UK (11455373). Cledara Limited is registered under the UK Data Protection Act (ZA466806).Cledara Limited works with PayrNet Ltd, registered in UK (09883437). PayrNet Ltd. is authorised by the UK Financial Conduct Authority (900594). The Cledara Virtual Debit Mastercard® is issued by Cornercard UK Limited pursuant to license by Mastercard International. Cornercard UK Limited is authorised by the Financial Conduct Authority to conduct electronic money service activities under the Electronic Money Regulations 2011 (Ref: 900186)

Fees

Does Cledara charge any fees to load the account?
No. We do not charge you anything to load your Cledara account.
Does Cledara charge any fees for spending with Cledara?
No. We do not charge you any fee per transaction. We also do not charge any percentage-based fees.
Does Cledara charge any foreign currency fees?
No. We do not charge any foreign currency fees. Just like Revolut!
Can I load my Cledara card in ApplePay, GooglePay etc?
We are working to enable this soon. If you would like this feature, let us know at hello@cledara.com.
Can I get a physical Cledara card?
Virtual cards are a sustainable option for the payments industry. Hence, we are not issuing plastic cards and we will only consider doing so if most of our customers request it.
What currencies does Cledara support?
All of our customers can hold balances with us in GBP and EUR, regardless of where you are based. The virtual cards can be used to make payments in any currency.

Features

How does Cledara automatically collect invoices for my SaaS subscriptions?
There are two ways that Cledara automatically collects invoices for SaaS subscriptions:
  • You and your colleagues are able to connect your company email accounts to Cledara. When a SaaS company sends you an invoice, Cledara will automatically detect it and attach it to the corresponding subscription payment in Cledara
  • You can forward your invoices to a dedicated inbox that we will provide you. Invoices that land in that inbox will be automatically attached to the corresponding subscription payment in Cledara.
This means that you will no longer need to chase everyone in business for the invoices for your SaaS subscriptions.
How does Cledara automate the bookkeeping for you SaaS subscriptions?
Connect Xero to Cledara. We will pull your chart of accounts into Xero. Then just tell us which account you'd like us to record the expense in and journal entries will be generated automatically. If you set the VAT rate for each subscription, we will also generate the journal entries for the VAT.

Journal entries can be sent unreconciled, or reconciled. If you send them unreconciled, you will be able to review them before approval.

If Cledara has an invoice for a transaction, we will send that to Xero as well.
Is Cledara compatible with Curve?
Yes! Cledara's virtual cards can be added to Curve cards so that you can spend on a virtual card in the real world!
Can I load my Cledara card in ApplePay, GooglePay etc?
We are working to enable this soon. If you would like this feature, let us know at hello@cledara.com.
Can I get a physical Cledara card?
Virtual cards are a sustainable option for the payments industry. Hence, we are not issuing plastic cards and we will only consider doing so if most of our customers request it.
What currencies does Cledara support?
All of our customers can hold balances with us in GBP and EUR, regardless of where you are based. The virtual cards can be used to make payments in any currency.

Cledara Rewards

Is there a limit to the number of Cledara Reward Points that I can earn?
There's no limit to the number of reward points that you can earn, save or redeem with Cledara Rewards.
How are Cledara Rewards Points Calculated?
You earn Cledara Reward Points for most things that technology companies usually buy.

For SaaS spending, you will earn 2 Cledara Rewards Points for every £1 or €1 you spend. For other spend such as online advertising, cloud hosting, you will earn 1 point for every £1 or € spent.

Spend that does not qualify for Cledara Rewards includes money transfers, consultancy services, domain purchases and most online shopping.
How do I redeem Cledara Rewards Points?
Admin users can check the number of points earned by logging in to Cledara, going to the Settings page and clicking the 'My Rewards' Tab. Points may be redeemed for cash in the currency of the original spend. Points are redeemable 30 days after the original purchase. 1 point is worth £0.01 or €0.01, depending on the currency of your Cledara Account.

Once claimed, you will usually receive the money within 1 business day.
Where do you send the money for the Cledara Rewards Points that we claim?
Cledara Rewards Points claimed are paid directly into your Cledara account. From there, you are free to transfer them onward to any bank account.
Are Cledara Rewards Points calculated including or excluding VAT?
Cledara Rewards Points are calculated including VAT.

Using Cledara

How do I put money in my Cledara account?
You can transfer funds from any other corporate account your business holds. Note that a Cledara EUR account can receive funds from any bank account held by your company in Europe and a GBP account can receive funds from any bank account held by your company in the UK.
How long does it take to receive money into my Cledara account?
Once your money is received by Cledara, it will appear in your account instantly. The time it takes to reach Cledara depends on the currency and your method of sending the money.

GBP payments sent by Faster Payments (up to £250,000) will normally be available in your Cledara account within 2 minutes. Banks like Monzo are even faster, almost instant. Transfers sent from other, older, banks can take up to 2 hours.

If you send GBP with Bacs, it may take up to 3 working days for the payment to be received.

EUR payments should be sent by SEPA Credit Transfer (SCT) and are usually received next working day.
Can I send money from my Cledara account back to my bank account?
This feature is available by request only. If you would like this feature enabled for your account, please contact us at hello@cledara.com.

Once this feature is enabled, you will be able to send money back to your bank account. Transactions in GBP will usually arrive instantly (but can take up to 2 hours, depending on your bank), and EUR transactions will arrive next business day.
Can I send money to other bank accounts?
This feature is available by request only. If you would like this feature enabled for your account, please contact us at hello@cledara.com.

If you have a GBP account, you will be able to send to any UK bank. If you have a EUR account, you will be able to send to any European bank.
How long does it take to issue a virtual card?
Cledara provides instant virtual debit cards.
Do I need to activate the virtual card?
The virtual card is automatically activated when you generate it.
How do I make a payment with a virtual card?
You can use the virtual card details to make a payment online in the same way you use the card details of a regular card.
Which billing name and address should I use when making a payment with a Cledara virtual card?
You should use the company name and the company address.
What happens when I disable a virtual card?
The virtual card will no longer work and no payment will be able to be taken from it.
I just bought something online and I can see a small charge to my virtual card which is different to what I was expecting to be charged, why is that?
Sometimes merchants charge a small amount to validate a card ahead of the actual payment which is processed in batches throughout the day. The validation transaction is subsequently reversed and the amount of the purchase is charged to the virtual card, usually within a few hours.
What is the subscription payment limit?
When you want to pay for a new subscription, you set the maximum amount (limit) you want to allow that merchant to take from your card at the set frequency (weekly, monthly, annually). If the limit is exceeded and the payment is declined, you will receive a notification. You can edit the limit at any time, even after using the card, to adjust the limit and the frequency.
How do I edit my subscription?
As an admin or the requester of a subscription you can change the payment details of a subscription at any time.
What is the difference between admin and team member?
Admin: the authorised person signing up for the service that can transfer funds in and out of the account, view the balance and payment details for all the cards and subscriptions, approve new subscriptions, invite other team members to access Cledara, request and cancel any subscriptions.

Team member: a person invited by the Admin that can view all the subscriptions the company is using, create new ones and manage only those he/she has created.
How do I have more than one Admin?
You can upgrade any regular team member to become an Admin. To upgrade them, please email hello@cledara.com.

Note that our Light Plan is capped to only one admin per account. Other accounts can have unlimited Admin users.
How do I invite team members?
Only Admins can invite team members. On the settings screen, select invite team member, add their email address and an email will be sent to invite them to onboard into Cledara.
How can I give someone 'View Only' access to Cledara?
To give someone View Only access to Cledara, invite them as you would a normal user, but set them as a 'Finance' user. They will be able to see the financial information of all subscriptions, as well as account balances and transaction history, just like an Admin, but unlike an Admin, they cannot invite users, approve subscriptions or edit anything.
Can I make one-off purchases?
Cledara's business virtual debit cards can be used as disposable virtual cards for purchases.
What happens if I disable my subscription virtual card?
If you disable a subscription virtual card, the merchant will no longer be able to take the payment for that subscription via the Cledara virtual card.Please note that cancelling the Cledara virtual card associated with a subscription does not exempt you from the obligations/liabilities that you might have entered with the subscription provider when you signed up for the service.
What is the difference between Total balance, Available balance, and Committed balance?
Total balance: the sum of the available balance and the committed balance

Available balance: the non-committed balance in your Cledara account

Committed balance: the balance committed to existing subscriptions/ virtual cards
What happens if my subscription costs more than the payment limit?
If the subscription cost more than the payment limit the payment will be declined. If you are the admin or the requester of the subscription you can edit the limit.
What happens if there is not enough money in my Cledara account?
If there is not enough money in your Cledara account some of your scheduled upcoming payments may be declined.
When do I have to put more money in my Cledara account?
When the upcoming payments are higher than your total balance, you should transfer money in to your Cledara account to avoid any declined payments.
When I connect my company email account to Cledara, Gmail says "This App isn't Verified".
We're in the process of going through Google's verification process. To connect your Gmail account to Cledara, you will just need to acknowledge the warning and go past it.

Non-recurring payments

Can I make one-off payments with Cledara’s virtual cards?
It's possible to make one-off payments with Cledara.
How can I manage one-off payments with Cledara?
What most of our customers do that make one-off payments do is to create a thematic card with a budget. For example, if you wanted to make a one-off payment for a flight, they might create a card for travel use for all the flight bookings. The one-off flight booking would be deducted from the weekly/monthly/quarterly budget you set for that card.

Alternatively, you could just create a card for that one off payment and cancel it when you're done.
How do one-off payments get "approved" by an admin user?
One-off payments are approved on card creation. i.e. the budget is approved when requested.
Are Cledara Rewards Points calculated including or excluding VAT?
Cledara Rewards Points are calculated including VAT.

Try Cledara today

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Jenny Liu
Finance Leader @ Marshmallow

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Cledara Limited is Registered in the UK (11455373). Cledara Limited is registered under the UK Data Protection Act (ZA466806). Cledara Limited is registered with the Financial Conduct Authority as an EMD Agent (reference no. 902831) of PayrNet Limited, an Electronic Money Institution authorised by the Financial Conduct Authority (reference number: 900594). The Cledara Virtual Debit Mastercard® is issued by PayrNet UK Limited pursuant to license by Mastercard International. The Cledara Mastercard is issued by CBW Bank pursuant to a license by Mastercard International Incorporated. By using the virtual card, cardholder agrees to all terms under which it was issued.