PEX Card Use Policy
For vendor and contractor payments, please use the SVA payment request process.
For other day-to-day, non-personnel expenses such as supplies, meals, gas, etc., SVA offers PEX cards to Project Treasurers as a quick and easy way to access your project’s funds held at SVA. PEX cards are especially useful during times when projects anticipate increased transactions such as special events, retreats, and travel.
The PEX card is a prepaid card and may be used everywhere Visa debit cards are accepted.
Any Sponsored Project with a balance of $1,000 or more is eligible to request a PEX card.
Each PEX card will be limited to a maximum set by SVA. We will set the maximum in consideration of:
- available funds in the project’s fund balance
- projected spending that the card will be used for (day-to-day, non-personnel expenses)
The general allowable limit on each card will be $1,000 per month. On an as-needed basis, the limit may be temporarily increased to accommodate specifically planned project expenses. For example, if a project is preparing for a large festival, the Project Treasurer could request to have an increase by contacting the SVA Finance Department (firstname.lastname@example.org and email@example.com).
SVA holds ultimate responsibility for the funds spent through PEX cards. SVA, therefore, will have the final decision on the limit set for each cardholder.
Requesting Funds and Processing
Southern Vision Alliance works hard to make sure all payments are processed quickly and efficiently. Usually, PEX payments are processed within 10 business days. Once a Project Treasurer obtains a PEX Card, they must request funds following these steps:
- Contact the SVA Finance Department by emailing firstname.lastname@example.org and email@example.com.
- As documentation, submit an invoice for the amount desired (it must say ‘PEX Request’ on the invoice) and a W9 if SVA does not have one on file.
- The Project Treasurer will receive an email when the funds are made available on their card.
Conditions of Use
The PEX card:
- May only be used for organizational or project-related business expenses. Charging personal transactions to the PEX card is not acceptable under any circumstances. All transactions will be reviewed to ensure compliance with this policy.
- May not be used to pay a vendor or contractor service invoices. Such invoices should be submitted through the payment request process.
- May not be used to obtain cash advances. This prohibition similarly extends to cash equivalents such as bank or traveler’s checks, gift cards, and electronic cash transfers.
You must keep all receipts for each and every transaction. Failure to submit receipts will result in cancellation of the card and withdrawal of PEX card privileges. The Project is responsible for all expenses related to the PEX card. In all cases of misuse, SVA reserves the right to recover any monies from the cardholder. Any receipts the cardholder is unable to provide will be considered income and reported as income on their form 1099.
PEX Card Personal ID Number (PIN)
Like a debit card, PEX cards require a 4-digit PIN set by the cardholder. The cardholder will be able to use the PIN at the point of sale for purchases. The PIN cannot be used at an ATM or to receive cash back from a merchant. Cash transactions will be declined.
Requirements for choosing your PIN:
- Must be four digits
- Must not be all the same digit (“1111”)
- Must not consist of four digits in sequence (for example “1234”)
- Must not match the last four digits of the card number
Cardholders must select their PIN when signing their contract.
- a receipt
- the funding source, which will be:
- either a grant that your project has received or
- if using general “unrestricted” funds, just list the name of the project as the funding source.
- the type of expense from the Chart of Accounts (such as meals, ground transportation, etc.)
You cannot tag a PEX expense with more than one account or funding source. In order to split expenses, cardholders need to make separate purchases or otherwise indicate in the notes that our accounting team should record a split.
Cardholders are responsible for the following reporting and security measures for the use of their card:
- Cardholders must submit receipts as evidence of transactions.
- Card purchases without receipts are ultimately the responsibility of the user and their project. Failure to provide receipts or credible explanation for the unsupported expenditure will result in suspension or cancellation of the PEX card.
- Reimbursement for a return of goods and/or services must be credited directly to the card account. No cash should be received by the cardholder.
- Lost or stolen cards must be reported and canceled immediately via firstname.lastname@example.org.
- Any person issued a PEX card is in a position of trust as it relates to the responsible use of charitable funds. Improper or unauthorized use of the card may result in the cardholder being held liable for expenditures, legal recourse being brought against the cardholder, termination of the card, and/or termination of fiscal sponsorship.
The cardholder must take action to resolve any disputed transactions with the vendor (for example, requesting a refund for an over-charge). It is your primary responsibility to contact the vendor and attempt to resolve the dispute. You must also notify PEX and SVA immediately of the dispute for resolution. Notify PEX by calling the number on the back of your card. Notify SVA by contacting email@example.com and firstname.lastname@example.org.
Change in Relationship
If the project’s fiscal sponsorship relationship with SVA is terminated by either party, the cardholder must complete the transaction reporting for all outstanding expenses. In addition, the card must be turned in to SVA at the time of termination.
I acknowledge that I have requested or received a PEX card. I have been provided with and read the PEX card policy, and understand that I am responsible for complying with the policy rules. I understand that violation of the policy may result in cancellation of my card. Depending on the nature of the violation, legal or disciplinary action may result from misuse by the cardholder.
Project Treasurer/Cardholder Name: _________________________________________________
Project Name: ________________________________________________________________
Project Treasurer/Cardholder Date of Birth: _____________________________________________
Project Treasurer/Cardholder Email: ___________________________________________________
Project Treasurer/Cardholder Phone: __________________________________________________
Select a 4-digit PIN number: _____________________________________________________
Project Treasurer Signature: ___________________________________________________
Date : ________