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?
- Simple - leave your email address on our home-page or drop a note to contactus@spenmo.com
Where can it be used?
- Spenmo cards can be used at millions of merchants across 210 countries where Mastercard is accepted
Product
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
Companies
How do I apply?
- Simple - leave your email address on our home-page or drop a note to contactus@spenmo.com
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?
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Company: ACRA Form
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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.
Billing
How will Spenmo charge its clients for using the software?
Companies subscribed to Spenmo will receive a billing statement at the end of their billing cycle.
Where can I see your pricing plans?
What is a billing statement?
How can I pay for my billing statement?
How will I receive my cashback?
Companies will receive their cashback as a top-up in their account on the 7th date 2 months after their transaction. When 7th date falls on the weekend or to public holiday then the top-up will happen on the next working day.
When will I receive the billing statement?
Billing statements are sent to company Admins every 7th-10th day of the month.
There is an error in my billing statement. How do I report this?
Company Admins have three (3) days from receipt of the billing statement to report any issues. Any errors reported after three days will be void once the amount due has been deducted from the account balance.
How will the transfer fees of my Bill Payments be charged?
From 1 January 2023, transfer fees of newly created bill payments will be deducted automatically together with the payment amount when Spenmo has processed the transaction.