Who can have a Corporate Card?
Any member of staff who satisfies the following requirements:
1. Your contract of employment is for at least one year
2. Your Head of resource centre agrees
3. The card company agree
4. The Director of finance agrees
5. You expect to charge at least £250 of expenses to the card each year
What is a Corporate Card?
The corporate card is simply a VISA credit card. This can be used for your business expenses both in the UK and abroad. It can help you keep track of your business expenses and means that you don’t have to use your own cash or credit for university purposes. The University scheme is run by HSBC Midland Bank.
How does it work?
Once you have been issued with your corporate card, it can be used to pay for your business expenses. A monthly statement will be sent to your home address and you pay the statement in full either by cheque or by Direct Debit before the date detailed on the statement (around 20 days from the date of the card statement) You should reclaim the business expenses in the normal manner by submitting an expense claim form with supporting receipts, alternatively the actual corporate card statement (not a copy) can be used to support the expense claim.
How do I apply for a corporate card?
Requests for a cardholder application form should be directed to the Payments Section, Finance Office or alternatively by telephone x2050 or by email firstname.lastname@example.org When you receive the application form complete the form in full, obtain the approving signature of your Head of Resource centre and return the form to Finance. When the application is approved by the card company, the new card will be forwarded to the Finance Office. You will be notified of its arrival. You will have to collect the card in person from the Cashiers Counter in the Finance Office. Please bring along some proof of identity containing a signature such as a driving license or Bangor University Library Card. You will be asked to sign the card and the receipt note in front of the Cashier.
Does the corporate card have a credit limit?
The card will have an initial limit of £500, however if a larger limit is required then this can be arranged either temporarily or permanently via Payments Section, x2050 email email@example.com
Is there anything I shouldn’t use the card for?
The card must only be used for business expenses and the rules associated with expense claims determine what will be reimbursed to you by the University. The card should not be used to obtain cash. The University will not reimburse to you any interest charges or late payment charges.
Does the Card have an Annual Fee?
There is a £5 annual fee for the card, but you can charge this as an expense to the university as long as you have an appropriate account to meet the cost.
What if I lose the card?
The card service should be notified immediately on 0990 400500. They will provide guidance and further assistance, including arrangements for a replacement card.
What if my circumstances changes?
Please notify the Payments Section as soon as possible, of changes of Address and the like. If your contract of employment is ending, then the card must be cut up and returned to the Payments Section. They will close the account, but you will remain responsible for clearing any balance remaining on the account. In this instance, please ensure all expenses have been processed and receipts attached prior to your leaving.
What if I have further questions?
Contact The Payments Section of the Finance Office on x2050 or email firstname.lastname@example.org