Stored Value Cards Presented by: Cindy Regner April 2019

Advantages of PNC Stored Value Cards Anonymous or personalized plastic cards Convenient for research subject payments, athlete per diems, student group expenses, or gifts and awards No cost to department Can be also used at any ATM (no fee at a PNC ATM) Replaceable (if lost or stolen) Support offices on both Evanston and Chicago campuses

Advantages of Hyperwallet Virtual Cards Virtual card sent through email - no postage expense Ideal for online studies or remote participants Cardholders can use for online shopping or transfer funds to their personal bank account No need for department to pick up or secure plastic cards or funds

General Stored Value Card Information Depository Services can only offer assistance to the department - not directly to cardholders (including by telephone or email) due to HIPAA regulations PNC Cardholder Information: Cardholders can use www.pncprepaidcard.com, free of charge, to check card balance or review transaction history Cardholders can call PNC at (866) 453-5071 to: check card balance report a card lost or stolen Cardholders charged $2.50 per call if pressing ‘0’ to speak to an operator unless: reporting a card lost or stolen ‘0’ pressed in error Card PIN # is set using the account access code (last four digits of the card #). Once a PIN is set, neither PNC or Northwestern can obtain or reset $3 fee per month is charged after 180 days of inactivity

General Stored Value Card Information PNC Cardholder Information (continued): Specific card usage questions Use ‘Credit’ option for store purchases When used at a sit-down restaurant, a 20% hold above the tab imposed to cover any potential gratuity. The hold is lifted once the charge clears The card must physically be presented to a gas station attendant as it will be declined at the pump Hyperwallet Virtual Cardholder Information: Virtual cards can only be used for online purchases or transfer to bank account $3 fee is charged if card not activated within 90 days $3 fee per month is charged after 180 days of inactivity

Requesting Stored Value Cards Instructions and forms (initial requests and reloads) available at the stored value card website: (northwestern.edu/controller/treasury- operations/depository-services/stored-value-visa-program.html) PNC Requests: Email to storedvaluecard@northwestern.edu Hyperwallet Virtual Requests: Email to c-regner@northwestern.edu and yan-shen@northwestern.edu Requests received prior to 11 a.m. will be available the following day - no need to over order! Grant chartstrings cannot be used for stored value card requests Exception approval needed for >$100 on an individual card Original request form and Wildcard are required to pick up PNC cards

Lost Cards or Fraudulent Charges Treat Cards = Cash Depository Services cannot replace card funds if already spent Card lost or never received? Cardholder should contact your department Department contacts Depository Services, providing card ICN Depository Services verifies card balance, cancels lost card and reissues replacement card Fraudulent charges? Cardholder should contact PNC to freeze card. PNC's Fraud Department creates a research case and investigates Beginning May 1st 2019 card balances under $5.00 will not be transferred to a new card or defunded/credited back to chartstring

Returning Stored Value Cards Email storedvaluecard@northwestern.edu and provide your ICNs and a scan of the original card request form Return physical cards to a Depository Services location Depository Services will verify card balances, remove funds and credit back to the original chartstring Beginning May 1st 2019, card balances less than $5.00 will not be defunded/credited back to the department chartstring No need to over order cards - extra work for everyone. Cards ordered before the cutoff time are available next day $1.50 will be charged to the department chartstring for refunded Virtual cards

storedvaluecard@northwestern.edu Questions? Contact: Cindy Regner c-regner@northwestern.edu 847.467.6327

Petty Cash Processing

Opening a Petty Cash Account Complete a Direct Payment Request (DPR) Charge chartstring 110(fund)–10266(account) Requires approval by the department head or business manager Submit to ASRSP for approval if for a sponsored project Approved by Accounting Services

Custodian Responsibilities Fully responsible for safekeeping of funds and proper usage Receipts and cash must equal fund total at all times Cash may only be handed out in exchange for a receipt Turn in receipts in a timely manner (monthly or sooner) Receipts should not be older than 90 days. Approval required for receipts older than 90 days. Custodian must complete and return Verification Letter as soon as received, and must communicate all account changes to Accounting Services.

Replenishing Petty Cash Original Direct Payment Receipt (DPR) Requires department approval (no electronic signatures accepted) Requires ASRSP approval if replenishing from a grant account (scanned copy is accepted) Requires original receipts (no copies) No single receipt greater than $100 Tape small receipts to letter-sized (8.5 x 11) paper for scanning purposes No reimbursement on tax for purchases (except restaurants) Wildcard required for replenishment at Depository Services

Changes to Petty Cash Change of Custodian: Department completes the Transfer of Petty Cash Fund Accountability form Increase fund: Complete Direct Payment Request (DPR) with increase amount Approval by department, ASRSP (if sponsored), Accounting Services Decrease fund: Complete Cash Receipt Ticket (CRT) and deposit funds for decrease (chartstring 110-10266) Email Accounting Services that funds were decreased Cannot transfer petty cash from one study/project to another. Petty cash account must be closed and a new account opened.

Closing a Petty Cash Account Create a Direct Payment Request (DPR) to replenish all receipts to cash Create a Cash Receipt Ticket (CRT) using chartstring 110-10266 Indicate ‘Closing Petty Cash’ Include Custodian name Bring deposit to Depository Services Email copy of validated Cash Receipt Ticket (CRT) to Accounting Services

Questions? Contact: Ida Maher Zreiqat i-zreiqat@northwestern.edu 847.491.4702

Q & A Is there a fee to transfer funds from the Virtual card to the participant’s personal bank account? There is a $1.50 fee that is deducted from the card for this service. This is the banking fee for the wire transfer from Hyperwallet to the personal account.