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.
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 disputes 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 will 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 Purchase Card Administrator with the relevant details. If the merchant is one of our preferred vendors, the Finance 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.
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:
- Current Balance
- Report Lost/Stolen Card
- 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 Purchase Card Administrator to modify the restrictions on your use of the Purchase Card.
ATM cash withdrawals are available only to those traveling with groups of students or internationally and should be kept to a minimum. Advances should be accounted for in accordance with the St. Olaf Cash Advance Policy. Advances should not be used to pay vendors that accept VISA. Any cash received from your card will be treated as a cash advance. You will be expected to complete an Advance Return Form detailing how the cash was spent and attach all original itemized receipts. Reports are due to the Business Office within 20 days of taking the advance. IRS regulations stipulate that any advance not accounted for in 60 days is considered taxable income. As such, any advances not accounted for within 60 days of when they were incurred will result in a payroll deduction.
Sales Tax Exemption
In Minnesota, St. Olaf is only required to pay sales tax on lodging, prepared meals, rental cars, airline tickets, and gas. It is the cardholder’s responsibility to notify the vendor that St. Olaf College is tax exempt. Our tax-exempt number is imprinted on the VISA card. Review your receipt to make sure that sales tax is handled properly. You are liable for sales tax you approve, for which St. Olaf is exempt. A copy of the St. Olaf exemption form is available on the Finance Office web page. Vendors may ask you for a copy to protect themselves from state sales tax auditors. Should you have additional questions regarding whether or not tax should be paid, please contact the Purchase Card Administrator for assistance.
- Helpful hint: Consider carrying a folded copy of the exemption form in your wallet or purse! Laminated wallet sized exemption cards are available in the Accounts Payable Office.