Scenario: Our trek includes several dinners where the payment is due on the day at the end of the meal. Our trek organizers lack the liquidity to cover such a large transaction.


We are now able to issue a corporate card to club treasurers. (Prior to applying they will need to have a UK bank account and be setup in the Expense System).


They will be able to use the card to make a payment at any POS terminal. They will then need to submit the receipt and the SA Finance team will aim to deposit the amount into the treasurer's account before payment is due. (~30 days after the statement is issued)


Key Facts:

  • The club will be charged a GBP 35.00 card issuance fee.
  • The card is issued in the name of the club treasurer
  • The club treasurer is responsible for and liable for paying the card bill in a timely manner, LBS Student Association will not cover any late payment or interest fees
  • The card and it's use will have no impact on club treasurer's credit score
  • Cards are linked to a finance code and can be used for that single event only


Process:

  1. Submit the card application form
  2. Upon receipt of the card, activate it following enclosed instructions and set up the direct debit for card payment
  3. Pay for your services as usual and collect the actual itemized receipt (not the credit card slip)
  4. Log onto the Expense System and select your card from the top right
  5. Attach all the transactions to a new expense report with the finance code in the title
  6. Upload the associated receipts and submit
  7. At the end of your event timeframe, return your card by placing it in a student expense envelope at the Ratcliffe Reception


Your timeliness in the submission of all of the above is critical to ensure the reimbursement reaches your account before the card payment is due.


If you have any queries please address these to safinance@london.edu.