Gift Cards or Prepaid VISA cards are considered Cash by the IRS and as such UWM and UW System policies guide the instances in which gift cards or prepaid VISA (debit) cards may be purchased and distributed. Gift Cards, including electronic gift cards, or Prepaid VISA cards should only be issued to Research Subjects or as prizes to incent participation in UWM events/surveys/workshops – see also the UW System policy [Policy 330 – Prizes, Awards and Gifts].
Gift Cards or Prepaid VISA cards may be purchased on the Pcard provided preapproval is obtained from the school, college or division business office utilizing the Gift Card Approval Form and Disbursement Log. The Approval Form and Disbursement Log must become part of the Pcard log (saved with the Pcard Statement) for Audit purposes. Gift cards or Prepaid VISA cards purchased on the Pcard are limited to increments of $25 unless otherwise authorized by the Procurement Director based on programmatic need.
Note: Employees ARE NOT to purchase any Gift Cards or prepaid VISA cards using a T-Card or Personal Funds, and seeking reimbursement after the fact will be denied.
There is no contracted or preferred provider of gift cards – departments may chose any provider that meets the programmatic needs. Similarly, Prepaid VISA cards may be obtained from any provider, including the State’s financial services provider, US Bank. Departments should ensure they understand any limits, fees, or declining balance considerations when purchasing gift cards or prepaid VISA cards.