General Information

Lost or Stolen Cards

You are responsible for the security of your card and any purchases made on your account. If you believe you have lost your card or that it has been stolen, immediately report this information to Wells Fargo Bank Customer Service on 800-932-0036. Immediately after reporting to Customer Service, you must inform your Purchase Card Administrator. It is extremely important to act promptly in the event of a lost or stolen card to avoid company liability for fraudulent transactions. As with a personal charge card, you will no longer be able to use the account number after notifying the bank. A new card should be issued within 3-5 business days of notice to Wells Fargo Bank.

Dispute Charges

There may be occasions when you find items on your statement that do not correlate with your retained receipts. You may not have made the transaction, the amount of the transaction may be incorrect, or you may have a dispute with a vendor about quality or service.

If you believe the merchant has charged you incorrectly or there is an outstanding quality or service issue, you must first contact the merchant and try to resolve the error or problem. If you are able to resolve the matter directly with the merchant and the error involved an overcharge, a credit adjustment should be requested and will appear on your next statement. Note: Be sure to verify that correct credit has been received on the next month’s statement.

If the merchant disagrees that an adjustment is necessary, use the Dispute option available with your online statement. You will need to provide details regarding the dispute, including what corrective actions you have already taken to resolve the dispute. Wells Fargo Bank must receive any charge dispute within 60 days of the transaction date. While pending resolution, Wells Fargo Bank will credit St. Olaf’s account for the amount of the disputed transaction. Although Wells Fargo Bank acts as the arbitrator in any dispute, you should never assume that a dispute would be resolved in your favor.

If the dispute is not resolved to your satisfaction, and you believe the merchant has treated you unfairly, please notify the PCA with the relevant details. If the merchant is one of our preferred vendors, the Treasurer’s Office may take further action.

Any fraudulent charge, i.e., a charge appearing which was not authorized by yourself, must be reported immediately to your Purchase Card Administrator. Prompt reporting of such charges will help to prevent St. Olaf from being held responsible. Use the dispute option online to relate the details to Wells Fargo.

Important Facts About Limits

Several standard user profiles with credit limits have been established. However, we will try to tailor the card to your needs.

  • Your limit renews itself the day after the last Tuesday of each month.
  • You must review your monthly and transaction limits before major events or after budget changes. It is embarrassing to have your card declined – not to mention inconvenient. The Purchase Card Administrator (PCA) can change limits as needed.

Temporary credit limit increases can be requested for special circumstances, such as going on a trip, by filling out the Temporary Credit Limit Increase Form. It is the College’s intent to keep credit limits low to minimize our risks. We are better able to achieve this if we can minimize the limits that we have on cards, rather than authorizing large limits that are only needed on rare occasions.

Card Refusal

If your card is refused at a merchant where you believe it should have been accepted, you should call Wells Fargo Bank Purchase Card Customer Service to determine the reason for refusal. Automated customer service assistance is available 24 hours/day, 7days/week: 800-932-0036, option #1. This menu prompts you with options that will provide the following information:

  1. Current Balance
  2. Report Lost/Stolen Card
  3. Speak with a Customer Service Representative

Depending on the result of your inquiry, you may want to discuss the issue further with your budget manager. He/she is empowered to advise the PCA to modify the restrictions on your use of the Purchase Card.

Enforcement / Penalties

To avoid the IRS requirement that transactions not substantiated within 60 days of when they were incurred be considered taxable income, the following will happen:

  • Cut-off date reminder when your statement is ready
  • 15 day reminder (middle of next month) that the card will be deactivated at the end of the month
  • 30 day reminder that the card has been deactivated
  • The card will remain deactivated until all transactions are properly documented and cannot be reinstated for a minimum period of three months after the transactions are properly documented. Any transactions not properly documented within 60 days of when the expense was incurred will be either reduced from the cardholder’s paycheck or added to the cardholder’s income.
  • If problems continue after the card is reinstated, the card shall be canceled permanently at the discretion of the PCA.

The College will seek restitution for any inappropriate purchases made with the card. In certain instances of abuse, the cardholder may be subject to additional personnel disciplinary action, up to and including dismissal.