Hello,

UMD just met with our bank (BMO) about a virtual card using Extend https://www.paywithextend.com/. This card can be downloaded to a digital wallet, and the financial person can add/increase/decrease credit limits, add an expiration date among other restrictions. We are going to explore this more as an alternative to cash advances.

Thanks,
Pamela McNally
Asst. Director of Travel & Card Services
University of Maryland

I am very interested in this discussion too! We should have a discussion at SCTEM on this 🙂

We pay our student athletes via Zelle - it is an incredibly smooth and seamless process and has made this process so much easier for everyone from AP to Athletics. 10/10 recommend.

Thank you Sabrina. What does the reconciliation look like and is this from a pre-funded bank account.

we fund an account on a monthly basis but the Athletics Business Office is the one who handles the recon. they look ahead to see what is expended disbursements and makes sure we have funding to cover it. so we make sure to carry a balance Email me separately if you would like and I would be happy to connect you with the VU Athletics business office if you wanted to send over any questions.

We implemented a pre-paid debit card last spring. It is a physical card and we are using Bank of America. Most of the details were handled by our Cash Management, Controller and Compliance teams, but it seems to be working very well.

Hi Kimberly, what school are you affiliated with.

I'm with the University of Arkansas, Fayetteville.