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Your GoSolo physical Mastercard Business Debit is a corporate card tied to your business account. We block cash withdrawals at ATMs to protect company funds, reduce fraud and compliance risk, keep bookkeeping clean, and pass cost savings back into a simpler, digital-first experience. You still get full flexibility for day-to-day spending via card, bank transfers, and online payments.
First things first: a corporate card ≠ personal cash
GoSolo cards are issued to the company, not the individual. That means every transaction must be a bona fide business expense, traceable to a supplier, invoice, or receipt. Cash taken from an ATM breaks that traceability, blurs the business–personal line, and complicates your audit trail. Our policy keeps that line bright and simple.
Why we restrict ATM cash withdrawals
1) Stronger protection against fraud
ATMs are a favorite target for skimming and “cash-out” fraud. Blocking withdrawals removes a high-risk use case (PIN + magstripe/terminal compromise) and materially reduces the chance of your company balance being emptied via stolen credentials. Less risk for you; fewer account reviews and interruptions.
2) Cleaner AML/CTF compliance
Regulated business accounts must evidence source and purpose of funds. Card-present purchases and transfers produce rich metadata (merchant, category, invoice references). Cash does not. Eliminating ATM cash helps us (and you) meet monitoring obligations without intrusive checks, holds, or document chases.
3) Easier bookkeeping and tax
Receipts and VAT treatment are straightforward when you pay a merchant or send a transfer. Cash introduces manual reconciliation, missing receipts, and miscoded entries (often flagged by accountants). By staying cash-free, you get neater ledgers, faster period-end close, and fewer “what was this?” messages in January.
4) Lower fees, fewer surprises
ATM networks layer interbank and scheme fees, often with foreign usage markups. Many providers pass these on to you—or hide them in complex pricing. We’d rather avoid that entire cost channel and keep the product simple and predictable.
5) Built for modern, digital operations
GoSolo is designed around company formation, business banking, and integrated payments—get paid via links/POS/invoices, spend by card, move money with transfers. It’s the fastest path from sale to settled, reconciled funds without cash in the loop.
What to do instead (practical alternatives)
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Pay by card at point of sale. It preserves the merchant trail and receipt, and you can attach documentation in your records.
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Use bank transfers for vendors and contractors. Faster Payments/SEPA-style transfers keep the invoice link intact and are easy to reconcile.
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Use payment links or invoices for sales. Keep revenue digital end-to-end so incoming funds match customers, channels, and fees clearly.
Tip: If a supplier says “cash only,” ask if they can accept a card reader or bank transfer—both are now standard in most sectors.
Edge cases: when you absolutely need cash for a business reason
If you encounter a genuine cash-only scenario (e.g., a one-off petty purchase at a market stall), the cleanest path is:
- Pay personally in cash
- Collect a receipt, and
- Submit a reimbursement to the company via a normal transfer with the receipt attached in your records.
This preserves the audit trail without opening the ATM risk channel. (As always, align with your accountant’s guidance.)
Our promise
By removing cash withdrawals, we’re protecting your balance, simplifying your accounting, and keeping fees transparent—so you can start, run, and grow your business with fewer headaches.
If you’ve got a use case we should consider, tell us. We’ll review patterns and, if there’s a safe, compliant path, we’ll build it.