Prepaid Card Program

One Time Load Cards

A pre-valued Bank of America debit card is stored with a single value and is disposed of when the value has been exhausted. This card cannot be used at an ATM for cash; it can only be used for purchases.  This is the preferred card option of NYU.

Please note, once fulfilled, cards are not returnable to the Office of the Bursar and not refundable to the department(s).

Reloadable Cards

A pre-valued Bank of America debit card that can be loaded multiple times with monetary value, and should be kept by the cardholder for future use by NYU. A reloadable card can be used for both purchases and cash (there are no ATM fees when used at a Bank of America ATM). This card is not anonymous and Custodians must collect relevant taxpayer information (by submitting a completed IRS W-9 Form for each individual) including Full Legal Name, SSN/TIN, Permanent and Mailing Address (if different), FNIF (if Foreign National).

Please note, once fulfilled, cards are not returnable to the Office of the Bursar and not refundable to the department(s).

Prepaid card programs are established and maintained by authorized academic or administrative units of the University for the purpose of providing payments to participants in research studies, to cover minor office expenditures, and reimbursements to students. The NYU Prepaid Card Policy is set forth to provide a process and guidance on requesting, handling, safeguarding, and reconciling the prepaid cards.  All employee requests for reimbursement and advances must be submitted through AP Workflow.

The policy provides the guidelines on establishing, managing, and terminating prepaid card programs. It is intended to help faculty and staff to:

• Understand the University’s rules on the use of prepaid cards.
• Properly record and report transactions processed through prepaid card programs.
• Understand the employees’ responsibilities involved in the use and management of prepaid card programs.

The Business Expenses Policy of the University should be consulted for guidance on which expenses are permissible and thus may be incurred using University funds. The University’s i-Buy NYU Buying and Paying Guide should also be consulted for guidance on how certain types of purchases may be made.

Use of the Prepaid Card - Expenses eligible for use with the prepaid card program include, but are not limited to, the following:

• Payments to Human Subjects, when the prepaid card program is set up for this purpose, expenses must be charged to account 65295 - "Payments to Human Subjects"
• Student related expenses such as taxi fares, parking fees, tolls not related to University Travel. Reimbursement may not exceed $150
• Incidental office expenses

Expenses that must not be reimbursed from the prepaid card program include, but are not limited to:

• All employee travel advances and reimbursements must be processed through AP Workflow. Per diem allowances are not reimbursed through prepaid cards.
• Payments to Independent Contractors, Honorariums, and Guest Expense Reimbursements. For additional guidance, please refer to Independent Contractor, Honorarium, and Guest Expense Reimbursement Policy and Procedure.
• Expenses that do not comply with the Business Expenses Policy and Expense Reimbursement Policy of the University (e.g., personal expenses, any fraudulent and illegal expense, expenses that will be reimbursed from another source).
• Student related purchases in excess of $150 per order (reimbursements for such purchases must be processed through AP Workflow). Alternatively, a student may complete the EXP2000S form for expenses up to $300. The EXP2000S form may be taken to the Office of the Bursar. The student must present a valid NYUCard with the request.

The prepaid card program may not be used to cash checks of any kind or to grant salary advances to University personnel.