301 My Corporate Card Policy

My Corporate Card Policy
Policy #301

Effective Date: July 24, 2019
Last Updated: July 24, 2019
Last Reviewed: July 24, 2019
Next Review: July 24, 2020

Functional Owner:
Controller, Division of Business Services, Dan Langer
Executive Sponsor: Associate Vice Chancellor, Division of Business Services, Dan Langer
Policy Contact: Purchasing Card Program Manager, Division of Business Services, Meghann Grove meghann.grove@wisc.edu


Policy Summary

The My Corporate Card is an individual liability credit card issued to an authorized University employee (excluding student hourly) by the Card Program Office for UW-Madison business use only.

UW-Madison My Corporate Cards are provided by U.S. Bank and remain the property of U.S. Bank. My Corporate Cards must be canceled immediately upon termination of employment, leave of absence, or request by an authorized person for any reason (e.g., Card Program Manager, Controller, Divisional Business Office).

All documents related to the My Corporate Card may be fully disclosed as public record to the extent required by state and federal open records laws.


Who This Policy Applies To

Employees of all UW-Madison schools, colleges, and auxiliary divisions.


Rationale

This document defines eligibility, responsibility, and proper card usage. It is designed to ensure that individual cardholders and those responsible for supervising cardholders comply with this policy and other University of Wisconsin–Madison Division of Business Services policies.


Policy Detail

I. General Card Use. A UW-Madison My Corporate Card may only be used:

  • For UW-Madison business-related purchases.
  • In compliance with UW-Madison policies and procedures.
  • For reimbursable travel expenses for the My Corporate Cardholder (UW employees may not be reimbursed for other travelers’ expenses).

    Note:
    It is not recommended the My Corporate Card be used to pay for individual meals (to be reimbursed as part of a traveler’s per diem allowance) while in travel status.  Doing so may result in an overpayment to U.S. Bank when using e-Reimbursement to submit payment to the bank.

II. My Corporate Card Eligibility :To be eligible for the My Corporate Card, an applicant must meet the following criteria:

  • Have an active UW-Madison appointment.
  • Meet requirements identified by U.S. Bank on its application materials.

III.Credit Limit and Cash Advance Allowance. Most My Corporate Cards have a standard credit limit of $5,000. With approval from a cardholder’s Divisional Business Office and the U.S. Bank Credit Department, credit limits may be increased.  By default, My Corporate Cards have a cash advance allowance of 0%, but can be increased with justification and approval from the cardholder’s Divisional Business Office.

IV.Documentation Requirements. For reimbursement purposes, documentation must be retained by the cardholder for all purchases made with the My Corporate Card.  All documents related to the My Corporate Card may be fully disclosed as a public record to the extent provided by the Open Records Law.

V.My Corporate Card Payment and Late Fees.  U.S. Bank will issue the My Corporate Card directly to the cardholder. As such, it will be governed by a contract that is solely between U.S. Bank and the cardholder, who is personally responsible for paying all charges when due.  Finance fees are assessed by U.S. Bank if the balance becomes 61 days past due.  My Corporate Card finance/late fees are not payable/reimbursable by the University.

VI.My Corporate Card Audits. My Corporate Card expenses are reviewed and audited by the State of Wisconsin Department of Administration, the Legislative Audit Bureau, UW-System Administration Department of Internal Audit and UW-Madison Business Services, in accordance with this policy.

VII. Lost or Stolen Cards. My Corporate Cardholders must immediately notify U.S. Bank Customer Service if their card is lost or stolen. See Procedure 300.1 – My Corporate Card Application and Account Management.

VIII. Unauthorized Transactions/Suspected Fraud. My Corporate Cardholders must immediately notify the U.S. Bank Fraud Department of any unauthorized transactions or suspected fraudulent activity. See Procedure 300.1 – My Corporate Card Application and Account Management.  My Corporate Card fraud committed by a UW-Madison employee must be reported to the Card Program Manager.  Suspected fraud or abuse may also be reported to UW System Administration via https://uwaudithotline.tnwreports.com.

IX.My Corporate Card Cancellation. Upon terminating their employment with UW-Madison, My Corporate Cardholders must notify the Card Program Office and destroy their My Corporate Card. The My Corporate Card may also be terminated by U.S. Bank or the Card Program Manager for the following reasons:

  • Non-compliance with this policy.
  • The account becomes 120 days past due. If an account is terminated due to delinquency, it may not be reinstated.
  • The cardholder is no longer on the UW-Madison payroll (including resignation, extended leave of absence without pay, termination, or retirement).
  • No account activity in over eighteen months.

Consequences for Noncompliance

Failure to comply with UW-Madison My Corporate Card Policy or accompanying procedure may result in disciplinary steps, up to and including dismissal.


Supporting Tools 

Access Online: https://access.usbank.com

My Corporate Card Application: https://pollux.uwsa.edu/PRODUCTION/crpcd/


Definitions

  1. Access Online – U.S. Bank’s web-based transaction management tool used to manage the UW-Madison My Corporate Card Program.
  2. Cash Advance Allowance – Percentage of a My Corporate Cardholder’s credit limit that may be obtained in cash.
  3. Credit Limit – An amount assigned to an individual My Corporate Card that limits how much a My Corporate Card is allowed to spend.
  4. My Corporate Card – Individual-liability credit card issued by U.S. Bank to a UW-Madison employee for business related purchases.
  5. My Corporate Cardholder – UW-Madison employee who has been approved by their supervisor and the U.S. Bank Credit Department and holds a My Corporate Card.

Responsibilities 

My Corporate Cardholders –

  • Responsible for reading, understanding, and adhering to this policy and accompanying procedure.
  • Provide social security number and a valid address for billing purposes and notify US Bank of any changes in name, address, or contact information.
  • Adhere to the University of Wisconsin–Madison Division of Business Services policy and procedures.
  • Promptly pay My Corporate Card bills in full, when due, to avoid late charges.
  • Work directly with U.S. Bank to resolve billing disputes.
  • Report lost or stolen cards to U.S. Bank Customer Service.
  • Cancel cards upon termination, suspension or extended leave of absence from employment.

My Corporate Card Applicant Supervisors –

  • Responsible for approving My Corporate Card Applications, verifying appropriateness of each applicant obtaining a My Corporate Card for UW business use.

Card Program Office – 

  • Develop and maintain internal policies and procedures.
  • Develop training and support My Corporate Cardholders and Divisional Business Offices with My Corporate Card-related questions and concerns.
  • Performs periodic reviews of card activity to ensure compliance with all policies and procedures.

 Divisional Business Office –

  • Approve individual My Corporate Cardholder credit limits in excess of $5,000.
  • Approve My Corporate Card cash advance allowances greater than 0%.
  • Ensure local compliance with this policy and accompanying procedures.

Link to Related Policies

Purchasing Policies and Procedures

Travel Policy


Revisions

Date Approved: July 24, 2019