3012.8 Reloadable Debit Card Account Procedure

Reloadable Debit Card Account Procedure
Procedure #3012.8
Rev.: 0
Effective Date: February 1, 2022

Related Policy: UW-3012 Custodian Funds Policy
Functional Owner: Cash Management, Business Services
Contact: Custodian Funds Mailbox: cstdnfnd@bussvc.wisc.edu


Contents

I. Procedure Statement
II. Who is Affected by this Procedure
III. Procedure
IV. Definitions
V. Related References
VI. Revisions


I. Procedure Statement

The University of Wisconsin-Madison conducts research studies that are 1 year or longer and the research participants are compensated with payment by reloadable debit card. Reloadable Debit Card Accounts are used for these research participant studies.


II. Who is affected by this Procedure

This procedure applies to all Deans, Directors, Financial Officers, and staff involved with research participant studies that provide payments by reloadable debit card to research participants.


III. Procedure

A. Opening Reloadable Debit Card Account

The following steps represent the overall process for opening a reloadable debit card account:

  1. Custodian obtains the NR Number from the NR Number Generator. The NR Number from the NR Number Generator is required on some of the necessary forms for opening a reloadable debit card account.
  2. Custodian composes a Letter of Justification explaining the purpose of the study and how it is linked to the project.
  3. Custodian completes the following forms and obtains the necessary departmental approvals:
    1. Custodian Fund Request Form
    2. Custodian Fund Agreement Form
    3. Custodian Fund Budget Form
    4. Prepaid Administrative Website User Request Form (PDF)
      1. Focus Blue – Admin User Request Form
        1. Client Program Name = Leave blank for now. We will eventually get this name from US Bank.
        2. Check “New User”
        3. Use wisc.edu email address (this will end up being the username)
        4. Roles are as follows:
          1. Custodian = Role Group 1.1
            • Also check boxes for “Report Viewer – Standard Reports” and “Report Viewer – Financial Reports” under the Add-on Features section
          2. Reconciler = Role Group 2.2
            • Also check boxes for “Report Viewer – Standard Reports” and “Report Viewer – Financial Reports” under the Add-on Features section
          3. Coordinator who enrolls participants = Role Group 2.2
          4. Coordinator who approves fund disbursements = Group Group 2.3
          5. Dean’s Office = Role Group 1.1
            • Also check boxes for “Report Viewer – Standard Reports” and “Report Viewer – Financial Reports” under the Add-on Features section
  4. Custodian reviews and signs the Memorandum of Understanding (MOU) for Reloadable Debit Card Account – Custodian (PDF).
  5. Reconciler reviews and signs the MOU for Reloadable Debit Card Account – Reconciler (PDF) and provides it to the Custodian.
  6. Coordinators review and sign the MOU for Reloadable Debit Card Account – Coordinator (PDF) and provides it to the Custodian.
  7. Custodian routes the Letter of Justification and signed forms to the Dean/Director’s office.
  8. Dean/Director’s office verifies that the Custodian needs a Reloadable Debit Card Account by verifying that:
    1. The research study will be for 1 year or longer.
    2. The research study has an Institutional Review Board (IRB) Number or self-certification paperwork showing that no IRB approval or certification is necessary.
    3. Each payment to a research participant will be $249 or less.
    4. The payment(s) to the research participants will be made by reloadable debit card.
    5. At least 10 payments will be made per month.
  9. Dean/Director’s office verifies accurate funding information.
  10. Dean/Director’s office reviews the documentation and signs the necessary forms.
  11. Dean/Director’s office keeps a copy of the forms for internal records.
  12. Dean/Director’s office sends the original forms to Cash Management via inter-d mail or e-mail to the Cash Management Office (cstdnfnd@bussvc.wisc.edu).
  13. Cash Management processes the request.
  14. Cash Management will notify the department and Dean/Director’s office when the US Bank reloadable debit account is set up and cards are ordered.
  15. The Custodian can check WISER using account code 6167, on the balance sheet, to see if the request has been processed. On the Transaction Search page in WISER, ensure the Show Balance Account checkbox is checked.

B. Maintaining Reloadable Debit Card Account

The following steps represent the overall process for maintaining a Contingent Checking Account:

  1. Reconciliations
    1. Reconciler completes and documents monthly account reconciliations between the US Bank Account Reconciliation Report and the Card Load Report on the US Bank Account Reconciliation Worksheet within 30 days of month end.
    2. Reconciler submits the monthly account reconciliation, Account Reconciliation Report, and Card Load Report via e-mail to Cash Management (cstdnfnd@bussvc.wisc.edu) and their Dean’s/Business Office within 30 days of month end.
  2. Replenishments
    1. Reconciler obtains the research participant log, without HIPAA or sensitive information, and completes the Custodian Fund Accounting Form to replenish the Reloadable Debit Card Account at least every 90 days, based on activity.
    2. Reconciler obtains necessary departmental approvals for the Custodian Fund Accounting Form.
    3. Custodian routes the completed/signed Custodian Fund Accounting Form, along with the research participant log, reconciliation(s), Account Reconciliation Report(s) from US Bank Prepaid Administrative Website to the Dean/Director’s office for review and approval.
    4. Dean/Director’s office reviews the documents and signs the Custodian Fund Accounting Form.
    5. Department keeps a copy of the forms for internal records. Department is the official record holder.
    6. Dean/Director’s office sends the original forms via inter-d mail or e-mail to the Cash Management Office (cstdnfnd@bussvc.wisc.edu).
    7. Cash Management processes the replenishment request.
  3. Other
    1. Any errors on the account are to be reported by the Reconciler via e-mail to Cash Management (cstdnfnd@bussvc.wisc.edu) and their Dean’s/Business Office within 30 days of month end.
    2. Notify the Dean/Director’s office and Cash Management when there is a change in Custodian, Reconciler, and/or Coordinators and prepare applicable Custodian Fund forms.
    3. Respond to Cash Management’s periodic review request.

C. Closing Reloadable Debit Card Account

The following steps represent the overall process for closing a Contingent Checking Account:

  1. Custodian completes the Custodian Fund Accounting Form and obtains the research participant log.
  2. Custodian obtains the necessary departmental approvals for the Custodian Fund Accounting Form.
  3. The remaining cards are shredded by two individuals and the Card Shred Confirmation (add link) (create form) statement is signed by both individuals and provided to the Custodian.
  4. Custodian routes the completed/signed Custodian Fund Accounting Form, research participant log, and card shred confirmation to the Dean/Director’s office.
  5. Dean/Director’s office reviews the documents and signs the Custodian Fund Accounting Form.
  6. Dean/Director’s office keeps a copy of the documents for internal records.
  7. Dean/Director’s office sends the original documents via inter-d mail or e-mail to the Cash Management Office (cstdnfnd@bussvc.wisc.edu).
  8. Cash Management process the closing request.

IV. Definitions

  • Custodian – UW–Madison employee who is responsible for monitoring the cash advance for research participant studies.
  • Coordinator – UW–Madison employee responsible for registering and funding cards to the appropriate recipient and responsible for ensuring all payments are logged and accounted for.
  • Reconciler – UW–Madison employee who is responsible for performing and submitting monthly reconciliations and replenishments.

V. Related References


Procedure Number 3012.8
Date Approved February 1, 2022
Revision Dates N/A