University PCard and Third-Party Payments Transition Announcement
March 27th, 2018
The Wake Forest University PCard and Third-Party Payments programs are currently in the process of converting to a new partner, Wells Fargo. This strategic partnership will benefit the University community in several ways, including consolidating two vendors to one payment provider and eliminating the need to reconcile PCard transactions in a separate system (Wells Fargo PCard transactions will be reconciled in Workday). Additional information about this transition is included for your reference below.
All cardholders should continue using their Bank of America PCard as normal through June 30, 2018. Starting July 1, 2018, cardholders will begin using their Wells Fargo PCards. Financial Services will be communicating regularly with stakeholder groups to ensure that the Bank of America to Wells Fargo transition is smooth. Some of the upcoming communications will include:
Card distribution method and timing
- Information about Workday expense training, including delegation (i.e. proxy) setup
- Fiscal year-end processing in Works
- Gathering information about those cardholders who will be traveling (domestic/international) fromMay 1st – August 1stso their new Wells Fargo card can be delivered to them
Campus suppliers will continue to be paid via PayNetExchange (checks, ACH, vCard) through the end of FY18 processing. Starting July 1, FY19 transactions will be paid via the Wells Fargo platform.
More information will be shared in the weeks and months to come. Thank you for your assistance as we make this important banking transition.