![]() ![]() When you choose invoice factoring through Fleet One, you can factor any number of invoices. Some fleets have been able to reduce their fuel costs by as much as 20 cents a gallon. You’re going with a larger company that can negotiate far better deals than smaller fleets. When you start using the company’s factoring services, you gain access to EDGE, and you can also save on: The fuel card, also known as Fleet One EDGE, allows access to 3,000+ fueling stops across the nation.Īverage savings per gallon is 15 cents, and there are no fuel transaction fees. The fuel card offers cost savings to smaller fleets that need to be able to cut back on fuel costs. Collection management done by the companyĪnd Wex will also offer you the chance to be a member of their fuel card program.When you work with Wex Fleet One, you’ll also enjoy: If a customer has poor credit, you can choose to not work with them to be able to minimize your risk of non-payment. Free credit analysis allows you to be able to check the credit of current and potential customers. The free credit analysis program is great for smaller trucking fleets that do not conduct thorough credit analysis on clients. When you work with Wex’s invoice factoring, you’ll also receive: If you’re dealing with a risky client or a client that is going through financial hardship, you may want to consider non-recourse factoring instead. You’ll want to use recourse factoring when it’s a major client that you know will pay the invoice. Since you’re taking on more risk, you’ll receive lower rates. Wex will try and collect on the invoice, and if it cannot be collected, you will be responsible for the money not collected. When you choose recourse factoring, you’ll receive the same benefits that you receive with non-recourse factoring with one slight difference: you assume the risk. Non-recourse funding will have higher rates because you’re not guaranteeing the invoice. Risk will be a determining factor in your overall rate. If the customer who is responsible for the invoice never pays, Wex will assume all responsibility. Non-recourse funding means that Wex takes on all of the risk when factoring the invoice. When you choose invoice factoring, you’re not taking out a loan and there are no banks involved in the process. One of the main benefits of Fleet One is that they understand that the money is already owed to you. Rates can be as low as 1%, but many factors will determine the rate that you pay. The rates are tailored to your company and to keeping your company running smoothly. The process allows you to open an account and start factoring faster in the future. When you apply, you’ll have to go through a quick setup process. You will gain access to the EDGE fuel card, too. Wex offers customized solutions for your fleet that include: When you work with Fleet One Factoring, you’ll also gain access to the company’s fuel card. The company’s superior technology has allowed their offering to become one of the best in the industry. Wex offers freight factoring solutions and trucking finance across the United States. The company is a direct lender, with rates as low as 1%. You can see your fleet’s pricing at each merchant location on the EFS or Fleet One Card Control App.Fleet One offers invoice factoring and accounts receivable factoring. Your fleet’s discounts at Pilot Flying J, TA, Petro Stopping Centers and TA Express, and AMBEST are subject to approval by those merchants. ![]() You can verify at any time whether any given location is part of the network by checking the daily price feed that we send to you by email each day, or by consulting the Fleet One Edge app on your smartphone. The EDGE Network Sites and other in-network sites may change over time, as merchant locations may be added or removed based on the merchant’s agreements with Truckers B2B, LLC. 2EDGE Network Sites include Pilot Flying J, TA, Petro Stopping Centers and TA Express, AMBEST, Circle K, Quick Fuel, Petroleum Wholesale, and many more. Customers may be required to pay an out-of-network fee for each transaction at such locations. While these locations do not offer special EDGE network discounts, they have all agreed to charge no higher than their posted cash price. The card also provides wide acceptance at thousands of out-of-network WEX OTR truck stop locations. There is no transaction fee at EDGE Discount Sites or at any of the 1,300 Fleet One Discount in-network locations. Any given customers’ actual savings may differ depending on location and the cardholders’ choice of merchants. The stated savings opportunity is the average such discount across 2,200 participating EDGE Discount Sites during a 6-month survey period in 2019 and does not represent a guarantee of future pricing. 1The discount is the difference between the retail cash price and the price available to Fleet One EDGE cardholders through Truckers B2B, LLC’s EDGE Discount network. ![]()
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