Company Credit Card Policy

Company Credit Card Policy Template:

Introduction.

Businesses use company credit cards to manage small to medium-size expenses relating to the maintenance and development of the company. Due to the financial implications and risks associated with company credit cards, [company name] created this policy to clearly define the protocols, limitations, and conditions of use.

Purpose.

The purpose of this company credit card policy is to (a) outline the eligibility and authorization procedures, (b) state the terms and conditions of the company credit card, (c) define the limitations and exceptions, and (d) to explain the card violations and disciplinary action process.

Scope.

This policy applies to all [company name] employees that are authorized to use the company credit card.

Authorization.

The [company name] credit card is only available to authorized personnel, namely the Executive Director, Finance Manager, and Office Manager. Both the Executive Director and Finance Manager reserve the right to release the company credit card to any [company name] employee(s), depending on the circumstances, necessary documentation, and company-related expenses.

Employee Credit Card Application.

Each employee has to complete an Employee Credit Card Application [number of days] before requiring access to the credit card's funds. In the application, an employee must state their reasoning for requiring the card and sign that he/she understands the risks associated with taking responsibility for the card. The finance department is responsible for issuing the Employee Credit Card Application form but only the Finance Manager and/or Executive Director have the authority to approve the application.

Employee Credit Card Agreement.

Once an employee's credit card application is approved by the Finance Manager and/or Executive Director, he/she must sign and abide by an Employee Credit Card Agreement. In this agreement, the employee will sign that he/she recognizes that the company credit card belongs to [company name] and management has the right to investigate charges, with or without cause. The credit card agreement is issued and filed by the finance department and the human resource (HR) department.

Conditions of Use.

• [Company name] reserves the right to release and withdraw the company credit card any time, with or without cause.
• The [company name] credit card should only be used for company-related expenses and for purposes relating to the employee’s job commitments.
• The company credit card cannot be used to receive cash advances, bank checks, traveler's checks, and/or electronic cash transfers.
• An employee in possession of the company credit card must take full responsibility for all purchases made on the card.
• An employee in possession of the company credit card is prohibited from giving the card to unauthorized individuals and/or employees, including fellow [company name] employees.
• Employees that are required to attend business trips are allowed to use the company credit card for accommodation, transportation, and/or meals, as long as each purchase adheres to the Company Travel Policy.
• The [company name] credit card cannot be used for personal expenses.
• [Company name] Finance Manager and/or Executive Director reserves the right to view monthly credit card statements, with or without cause.
• Each transaction made with the company credit card must be reported to the finance department within [number of hours/days] after the purchase.
• Violation of this policy can lead to disciplinary action, up to and including termination.

Limitations.

The credit card's limitations are based on each employee's seniority level in the company.

• Executive Director: [$ xxxx-xx]
• Finance Manager: [$ xxxx-xx]
• Office Manager: [$ xxx-xx]
• Mid/Low-Level Employee: [$ xxx-xx]

Exceptions.

[Company name] recognizes that each case is different and an employee may require additional fees, depending on his/her department, frequency of use, and case-specific circumstances. Therefore, employees have the right to apply for an exception but will need to explain the reasoning for the additional purchase. Each purchase that exceeds the limit must be first approved by the Finance Manager and/or Executive Director.

Disputed Transactions.

In the event that an employee disputes a charge made on the company credit card while in his/her possession, the issue must be brought to management's attention immediately. All disputed transactions must be resolved by the supplier, finance department, and bank. It is the cardholder's responsibility to obtain and file all proof of payment documentation with the finance department.

Disciplinary Action.

If an employee violates the terms and conditions of this policy, he/she will be subject to disciplinary action, up to and including termination. Violations of this policy include:

• Using the company credit card for personal, illegal, and/or unauthorized expenses.
• Failure to complete an Employee Credit Card Application and/or an Employee Credit Card Agreement before using the card.
• Giving the company credit card to unauthorized personnel without notifying management.
• Failure to report expenses in a timely manner.

Depending on the severity and frequency of each employee's policy violation, he/she could face a written warning, possible suspension, and/or termination. Each violation must be thoroughly investigated by the finance department and human resource (HR) department.

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• Bereavement Leave Policy.
• Cell Phone Policy.
• Company Credit Card Policy.
• Company Travel Policy.
• Company Vehicle Policy.
• Conflict of Interest Policy.
• Cyber Security Policy.
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• Paid Time Off Policy.
• Social Media Policy.
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