Control Prior to Purchase
Purchases are controlled through a combination of external controls and internal Policies and Procedures. The bank's Card Processor checks the following criteria for each transaction prior to giving the vendor approval to accept the transaction.
- Card status
- Dollar limit of individual transaction
- Monthly dollar limit
- MCC number not blocked MCC number
- Daily dollar limit
- Daily limit on number of transactions
- Monthly limit on number of transactions
If any of the above criteria exceed the parameters set up for a Cardholder by the University, the Card Processor will refuse to give the vendor approval to accept the Card as payment for the transaction.
Purchasing Policies and Procedures define the Approved and Prohibited items that may or may not be purchased using the Purchasing Card.