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.

Opening a Cledara Account

How do I open a Cledara account?

Opening a Cledara account entails having access to a financial service. If you are authorized to manage payments on your company’s behalf, Cledara requires certain documentation, including:

  • Company and Ultimate Beneficial Owner (UBO) register
  • A passport photo/national ID front and back of all executive directors and UBOs owning more than 25% of the company shares
  • A proof of home address (e.g. utility bill, bank statement) for all UBOs owning more than 25% of the company shares

Rest assured that once you start the signup process, Cledara will guide you through all the documents required, and we are at support@cledara.com to help if any questions arise.

Why do we need this information?

A Cledara account entails having access to a financial service - i.e. a debit card. Just like when you open a business bank account or apply for insurance, Cledara’s process ensures that your experience and that of all our customers is safe, secure and compliant with financial regulations.

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 challenging at times. If you're having problems collecting the complete set of documents required, email us at support@cledara.com and we will assist you.
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.
How long does it take to implement Cledara?

Unlike ERPs and traditional finance software, Cledara is easy to set up and use. On average, each subscription only takes around 2 minutes to create in our system.   

And here’s the great part: once set up, Cledara is on autopilot as you scale.

Note: Even if you do not set up all your company's subscriptions straight away, the good news is that Cledara Engage will automatically detect all SaaS subscriptions used in your business.

Virtual Cards

What is a virtual card?
A virtual card is a debit, credit or prepaid card that is issued (or usable) without having a corresponding plastic card present. A virtual card can be used to purchase goods or services online, just like a regular physical card.
What type of card is a Cledara card?
Cledara provides Mastercard debit cards to its European customers, meaning you can use your Cledara cards wherever Mastercard is accepted.
Which SaaS vendors accept Cledara’s virtual cards?
You can use Cledara’s virtual cards to pay any SaaS vendor, as our cards are Mastercards and are accepted everywhere. Cledara will work with any SaaS vendor you choose as we do not rely on software integrations.
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 with the official Mastercard foreign exchange rate at the moment the transaction was processed

This means that if you are paying for SaaS in a foreign currency other than your Cledara currency, you can typically save 2-3% compared with your current existing banking provider.

Fees

Does Cledara charge any fees to top up the account?
No. We do not charge you anything to top up your Cledara account.
Does Cledara charge any fees for spending with Cledara?
No. We do not charge any transaction fees. We also do not charge any percentage-based fees.
Does Cledara charge any FX fees?
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 much does it cost to issue a Cledara virtual card?
The cost of card issuance is already included in your plan.

Features

Is there a limit to the funds I can have in my Cledara account?
No, there is no limit to how much you can keep in your Cledara account.
Which currencies does Cledara support?
Our customers in Europe can hold balances with us in GBP and EUR, regardless of where they are based. Nevertheless, virtual cards can be used to make payments in any currency and country.
How does Cledara automatically collect invoices for my SaaS subscriptions?

There are two ways Cledara automatically collects invoices for SaaS subscriptions. This will greatly reduce the time spent chasing people for invoices:

  • If your plan includes a Gmail integration, Cledara will automatically detect invoices from most SaaS companies and attach them to the corresponding subscription payment in Cledara.
  • You can also forward your invoices to a dedicated inbox that we will provide you with. Invoices that land in that inbox will be also automatically attached to the corresponding subscription payment in Cledara.
How does the Xero integration work?
Our Xero integration is included in every plan. Once you define in which account you'd like us to record your expenses, journal entries will be generated automatically in Xero. Entries can be sent reconciled or unreconciled, allowing you flexibility in your approval process.

If you set a VAT rate for each subscription, Cledara can also automatically generate the journal entries for the VAT.
Can I still automate the bookkeeping for SaaS if my company doesn’t use Xero?
Certainly. SaaS Invoices will still be matched to their corresponding payment automatically and you’ll be able to export them, as well as the transactions record in CSV format.

Additionally, you can also generate a bank statement of all movements in Cledara by time frame.
Is Cledara compatible with Curve?
Yes, Cledara's virtual cards can be added to Curve cards so that you can spend anywhere you want.
Can I get a physical Cledara card?
As most SaaS is paid for online, Cledara operates exclusively with virtual cards and does not issue plastic cards.
Can I load my Cledara card in ApplePay, GooglePay etc?
Not at the moment although we are working to enable this soon. Let us know if you’re interested in this feature by dropping us a message at support@cledara.com.
Can I make one-off payments with Cledara’s virtual cards?
Yes. Even though Cledara is specifically built for SaaS, it is possible to make one-off payments with Cledara’s virtual cards.

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 cashback rewards you can earn with Cledara Rewards Program.
How is the cashback for Cledara rewards calculated?

It’s very simple. There are two rates that are the same across all plans:

  • For all software as a service spending, you will get back 2% of your spend.
  • For other spend such as online advertising and cloud hosting, you will get back 1% of your spend.

Note: 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 cashback?
Cashback can be claimed 30 days after the original purchase. Once claimed, your funds will be added to your Cledara balance. You can then use your funds for future payments on Cledara or transfer them to any bank account.

Security and regulation

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 also can’t lend it out as traditional banks do.
How is Cledara regulated?
Cledara Limited is Registered in the UK (11455373). Cledara Limited is registered under the UK Data Protection Act (ZA466806). Cledara Limited works with PayrNet Ltd, registered in the UK (09883437). PayrNet Ltd. is authorized 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 authorized by the Financial Conduct Authority to conduct electronic money service activities under the Electronic Money Regulations 2011 (Ref: 900186)
Do you have a program to report any vulnerabilities?
Security is about building trust across everything we do. Cledara offers the latest technology and processes to keep your data and software payments safe and compliant. To find out how we keep you, your money and your data safe and secure visit https://www.cledara.com/security. Should you identify anything you believe to be a vulnerability, please contact us as part of our Vulnerability Disclosure Program at dpo@cledara.com.

Opening a Cledara Account

How do I open a Cledara account?

Opening a Cledara account also means having access to a financial service - a virtual charge card. 

If you are authorized to manage payments on your company’s behalf, the following is required to ensure that your experience and that of all our customers is safe, secure and compliant with financial regulations: 

  • Company details 
  • Details of one Executive Director
  • Details of one Shareholder owning more than 25% (if the Executive provided owns less than 25% of the company)

Rest assured that once you start the signup process, Cledara will guide you through all the documents required, and we are here to help if any questions arise. 

Why do we need this information?

A Cledara account entails having access to a financial service - i.e. a charge card. Just like when you open a business bank account or apply for insurance, Cledara’s process ensures that your experience and that of all our customers is safe, secure and compliant with financial regulations.

Note that Cledara has no ability to collect funds from individuals in any case, not even in the case of company default.

How long does it take to implement Cledara?

Unlike ERPs and traditional finance software, Cledara is easy to set up and use. On average, each subscription only takes around 2 minutes to create in our system.   

And here’s the great part: once set up, Cledara is on autopilot as you scale.

Note: You need not set up all your company subscriptions straight away. The good news is that Cledara Engage will automatically detect all SaaS subscriptions used in your business, even if they are not added just yet to Cledara.

Virtual Cards

What is a virtual card?
A virtual card is a card that is issued (or usable) without having a corresponding plastic card present. A virtual card can be used to purchase goods or services online, just like a regular physical card.

Virtual cards can be prepaid, debit, credit or charge.
What type of card is a Cledara card?
Cledara’s virtual cards are tokenized charge cards issued by Mastercard, the safest security standard for a virtual card.

Unlike virtual cards from other providers, Cledara’s tokenized cards are not identified by a PAN. They are instead identified by a token that only the Cledara cardholder can use to access card details.

Tokenized cards are very difficult to misuse, even if they fall into the wrong hands. Cledara customers benefit from more secure cards to make software payments as safe as possible.

How does Cledara calculate your credit limit?

Three steps:

  • Cledara connects to your financial account via Plaid, which creates a secure connection between your bank and Cledara to share the financial information needed to calculate your credit limit.

This is done with encrypted and protected tokens so your data remains safe at all times.

  • Cledara makes a calculation to determine your Cledara credit limit
  • You’re assigned a limit and are ready to proceed.
Which account should I connect to Plaid?

Your credit limit will vary depending on the account you choose to connect.

To maximize the credit available in Cledara, we recommend choosing the account that best represents the financial position of your company, which is often the account with more funds.

Which SaaS vendors accept Cledara’s virtual cards?

You can use Cledara’s virtual cards to pay any SaaS vendor, as our cards are Mastercards and are accepted everywhere.

Cledara will work with any SaaS vendor you choose as we do not rely on software integrations.

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 as we use the official Mastercard foreign exchange rate at the moment the transaction was processed

This means that if you are paying for SaaS in foreign currency other than your Cledara currency, you can typically save 2-4% compared with your current existing banking provider.

Fees

Does Cledara charge any fees for spending with Cledara?
No. We do not charge any transaction fees. We also do not charge any percentage-based fees.
Does Cledara charge any FX fees?
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 much does it cost to issue a Cledara virtual card?
The cost of card issuance is already included in your plan.

Features

Which currencies does Cledara support?
Our customers in the US can hold balances in USD.

Nevertheless, customers can make payments in any currency and country without incurring FX fees.
How does Cledara automatically collect invoices for my SaaS subscriptions?

There are two ways Cledara automatically collects invoices for SaaS subscriptions. This will greatly reduce the time spent chasing people for invoices:

  • If your plan includes a Gmail integration, Cledara will automatically detect invoices from most SaaS companies and attach them to the corresponding subscription payment in Cledara.
  • You can also forward your invoices to a dedicated inbox that we will provide you with. Invoices that land in that inbox will be also automatically attached to the corresponding subscription payment in Cledara.
Can I automate the bookkeeping for SaaS if my company uses Quickbooks or Netsuite?
Certainly. SaaS Invoices will still be matched to their corresponding payment automatically and you’ll be able to easily export them, as well as the transactions record in CSV format.

Additionally, you can also generate a bank statement of all movements in Cledara by time frame.
Can I get a physical Cledara card?
As most SaaS is paid for online, Cledara operates exclusively with virtual cards and does not issue plastic cards.
Can I load my Cledara card in ApplePay, GooglePay etc?
Not at the moment although we are working to enable this soon. Let us know if you’re interested in this feature by dropping us a message at support@cledara.com.
Can I make one-off payments with Cledara’s virtual cards?
Yes. Even though Cledara is specifically built for SaaS, it is possible to make one-off payments with Cledara’s virtual cards.

Cledara Rewards

Is there a limit to the amount of cashback I can earn with Cledara Rewards?
There's no limit to the number of cashback rewards you can earn with Cledara Rewards Program.
How is the cashback for Cledara rewards calculated?

It’s very simple. There are two rates that are the same across all plans:

  • For all software as a service spending, you will get back 2% of your spend.
  • For other spend such as online advertising and cloud hosting, you will get back 1% of your spend.

Note: 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 cashback?
Cashback can be claimed 30 days after the original purchase. Once claimed, your funds will be deducted from your credit debt. You can then use your funds for the future payments of your choice on Cledara.

Security and regulation

How is Cledara regulated?
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 UK Financial Conduct Authority as an EMD Agent (reference no. 902831) of PayrNet Limited, an Electronic Money Institution authorized by the UK Financial Conduct Authority (reference number: 900594). In the United States, the Cledara Virtual Credit Mastercard® is issued by CBW Bank pursuant to a license by Mastercard International Incorporated. In the UK and Europe, the Cledara Virtual Debit Mastercard® is issued by PayrNet UK Limited pursuant to a license by Mastercard International. By using the virtual card, cardholder agrees to all terms under which it was issued.

Try Cledara today

Join our 600+ customers to manage all your SaaS in one place with Cledara.

Jenny Liu
Head of Finance @ Marshmallow

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