<img height="1" width="1" src="https://www.facebook.com/tr?id=763856411650746&amp;ev=PageView &amp;noscript=1">

Frequently Asked Questions

Here are some frequently asked questions to help you understand Spenmo more



Commonly Asked Questions

What is Spenmo?

  • Many companies struggle to keep track of their expenses due to manual processes that only monitor expenditure post-spend
  • Lack of control and visibility leads to overspending, fraud and violation of regulations, not forgetting that these processes are time consuming and limit productivity
  • Spenmo is a spend management platform with corporate cards offering tailored solutions to help companies have control and visibility over their expenditure

Why are people switching to Spenmo?

  • Provides a corporate card solution to companies unserved by banks
  • Easy onboarding where we offer a simple online application
  • One-stop shop integrated software suite that makes spend control, expense management, accounting, and budgeting easy

Who can use Spenmo?

Anyone! Start-ups and SMEs are our main focus.

What are the benefits of using Spenmo?

  • Control: You’ll be able to set rules and budget for spending at your company, team and even employee level; research shows that this tactic can provide up to 30% cost savings
  • Visibility: Real-time analytics of company’s spending; always know where your money is going and what it is being used for
  • Hassle-free: No more reimbursements, paper receipts and manual reconciliations; research shows that this can help save between 30 mins - 2 hours per employee per month

How much does it cost?

Please refer to our pricing page for more details

Is this a credit card?

  • For a start, your Spenmo cards will operate like a debit card - you transfer money that you plan to spend as a company and allocate it to your teams & employees
  • Once we have a good view of your spending for 3-6 months, we can look to offer a line of credit (coming soon!)

How do I apply?

Where can it be used?

  • Spenmo cards can be used at millions of merchants across 210 countries where Mastercard is accepted


How does it help control, manage budget and forecast more accurately?

  • We provide real-time tracking of your employees’ spending that will deter fraudulent spending
  • Real-time analytics will give you a current overview of your company’s spending habits, which can help pinpoint and tackle high expense areas so you never overspend again.
  • You will be allowed to set different budgets for different departments
  • You can set personalized spending policies and transaction limits for each employee


How does it help you save time?

  • After spending, an employee needs only to snap a photo of the receipt and we will handle everything else. We will chase for a missing receipt and we’ll let you know if any receipts do not tally.
  • No more reimbursement after spending
  • Automated linkage between expense and back end; all spend data on your company cards gets updated instantaneously on your dashboard


How do I apply?

Is every employee entitled to one card?

  • Yes every employee will be given a personal Spenmo card!

How does funding work?

  • Top up funds that you would like to spend via a bank transfer; we aim to offer credit lines in the near future

What details must I provide?

  • Company: ACRA Form

  • Employee: Employee NRIC / Passport

Do we have control over the cards given out?

  • Absolutely, as admin, you will have an option to activate / deactivate a specific card, modify limits, all with a click of a button.

Pricing Fees

How much does it cost?

  • Please refer to our pricing page for more details

What are the foreign exchange fees payable?

  • Flat 1.5%, we charge you at cost as charged to us by our network.