This policy provides guidance and governs the use of Business credit cards and clearing cards.
The policy applies to all employees with Business credit cards.
A new credit card application can only be approved by the CEO and or CFO.
Designated employees are eligible to be issued with only one Business credit card at a time. To be eligible for a Business credit card, an employee must meet one of the following criteria:
The Business credit card issued to employees will be limited to:
Any item above $1000 needs approval from your Supervisor.
The Business credit card cannot be used to obtain cash advances. The Business credit card is to be used for business (purchase of goods and services), travel and entertainment expenses associated with official business activities only. Business credit card expenses must be properly documented, with the related purpose identified, and the documentation must be provided to the Finance team by 28th of each month, to ensure payments to the card are on time.
Cardholders are only able to use Business credit card on repetitive procurement if authorised by Supervisor and Finance department prior to purchases.
Cardholders must not use their Business credit cards for:
Cardholder transactions will be scrutinised to ensure compliance with this policy. Breaches of the conditions of this Policy will result in cancellation of the card and withdrawal of Business credit card privileges. Breaching of this policy can lead to disciplinary action against the employee concerned. In all cases of misuse, reserves the right to recover any monies from the cardholder.
Cardholders must ensure that their Business credit card is acquitted within two weeks following the end of the calendar month and that appropriate documentation, including tax invoices, is provided.
Expenses paid using a Business credit card must be approved by the relevant Expense Approver.
Cardholders must ensure that their Business credit card is maintained in a secure manner to prevent loss, theft or misuse and that they do not store their full credit card number and expiry date anywhere.
The Finance team reserves the right to suspend a Business credit card should a cardholder fail to acquit the card in a timely fashion, repeatedly fail to provide tax invoices to support acquittal or act in contravention of any part of this policy.
The CBA Bank issues statements on a monthly basis.
Business credit card expenditures will be sent to each card holder by Finance on 26th of each month, these will include transactions from the 26th of the previous month to the 25th of the current month.
All Business cardholders are required to:
The Finance team reviews all credit card transactions on a monthly basis and raises any queries with the Operations team and/or the CFO.
The items above are required to be completed by 28th of each month. For February, the dates are rescheduled every year, depending on specific situations (e.g. where the nearest weekend sits).
If a cardholder does not complete and submit their credit card expenses, tax invoices and expense description, the following procedures will take place:
The card holder is responsible for monitoring the accumulative balance of the credit card to ensure the balance is not exceeded.
Credit card holders are responsible for ensuring any credit card expenditure is within their authority as stipulated in this policy.
Obtaining a Business Credit Card
Lost or Stolen Business Credit Card
Where a business credit card is lost or stolen, the owner of the card must immediately contact the issuing agency and have the card cancelled. Then the owner of this card is to notify Finance team. The Finance team also needs to contact the issuing agency and ensure the card is cancelled.
Declined Business Credit Card
If a Business credit card is declined, the cardholder should check with the card issuer and or Finance team. The cardholder may be trying to purchase something not allowed under their profile. If there is no apparent reason why the sale was declined, the cardholder should contact the Bank and try to find out the reason why the card was declined.
Returning a Business Credit Card