Forest Funds
Topics at a Glance
Overview
Welcome to Forest Funds a WFU-managed VISA gift card program that offers a convenient way for departments to purchase gift cards. Forest Funds gift cards are for the purposes listed below. This program is not designed for purchasing on behalf of the University. When purchasing items for University use, please use your University PCard.
Forest Fund gift cards can be used for various needs of our campus, such as:
- research incentive payments,
- prizes and awards,
- so much more…
Selecting Forest Funds as your gift card solution offers several benefits, including:
- The program offers both plastic and digital options
- Recipients will receive the full amount of the gift card (fees apply for lost cards)
- Recipients complete the electronic Forest Funds Gift Card Log vs researchers maintaining a paper or Excel log
- Researchers no longer have to reconcile or clear advances through Workday
- Cards can be ordered from your office through the use of Workday
- Cards can be delivered to your department
- Cards can be ordered as needed – gone are the days of forecasting how many recipients may show up for a research study
- Plastic cards can be used anywhere VISA is accepted
- Digital cards can be used online with any VISA merchant
Ordering and Processing Times
Both plastic and digital cards should be ordered using the Internal Service Delivery (ISD) task in Workday. Payment Services will maintain approximately 100 cards on hand. Be aware that inventory levels could be lower depending on campus requests.
Below are the processing times (processing times begin after all approvals have been obtained) depending on inventory levels and needs:
| Circumstance | Allow for Processing Days |
|---|---|
| Plastic Card orders that can be fulfilled with on-hand inventory | 3-5 business days |
| Plastic Card orders that cannot be fulfilled with on-hand inventory | 10 – 15 business days |
| Plastic Card Bulk orders of 50 or more cards | 10 – 15 business days |
| Digital Card orders (all orders are on-demand) | 3 – 7 business days |
Applicable Program Fees
| Circumstance | Fee |
|---|---|
| Plastic Card VISA fee | $2.95 per card (department pays) |
| Digital Card VISA fee | $1.00 (department pays) |
| Lost Plastic Card fee | $15.00 (recipient pays – reduced from card amount) |
| Lost Digital Card fee (reload on digital) | $0.00 |
| Lost Digital Card fee (reload to plastic) | $15.00 |
Frequently Asked Questions
An in-house gift card program administered by Procurement and Payment Services that utilizes the VISA platform and merchants
- Plastic cards can be used where VISA is accepted
- Digital cards can only be used at online merchants that accept VISA
- Some online retailers may require digital and plastic cards to be registered with the recipient’s address
- Registration is available at the time of card activation at US Bank Rewards Card
By using Workday’s Internal Service Delivery functionality
- Chartered Student Organizations administered through the Student Organization Finance Office (SOFO) in the Office of the Dean of Students should contact that area
- Student organizations or gatherings not administered through SOFO will need to request orders through their Staff or Faculty Advisors
- Only in certain circumstances, such as participating in a research study or other non-work related activities. Please review with Human Resources (Compensation) if clarification is needed.
- Gift cards given to employees cannot be compensatory in nature and cannot be utilized as a thank you for any work performed as an employee. Those compensation payments need to run through the HR/Payroll process.
- Gift cards are considered a cash equivalent and are taxable.
- Yes, Forest Funds gift cards are considered cash equivalent payments and are taxable at any amount. The University does not have to collect information for reportability until total payments to an individual are $100 or more in a calendar year.
- Amounts of $600 or more paid to US citizens and US tax residents during a calendar year are reportable to the Internal Revenue Service and potentially the State.
- Non-US citizens and non-US tax residents should not use this program. These individuals should be paid directly by Payment Services.
- Gift cards given to employees cannot be compensatory in nature and cannot be utilized as a thank you for any work performed as an employee. Those compensation payments need to run through the HR/Payroll process.
No
- A recipient will complete a Form W-9, if the recipient was paid $100 or more during a calendar year
- A recipient will complete the Forest Funds Card Recipient Log
- Plastic cards – at the time the card is given to the recipient
- Digital cards – after the survey or award but prior to receiving the digital card
- After workflow approvals are completed in the ISD process, the following lead times are applicable
- Plastic card on-hand inventory
- 3 – 5 business days
- Plastic card orders that cannot be fulfilled with on-hand inventory
- 10 – 15 business days
- Plastic card bulk orders
- 10 – 15 business days
- Digital card orders (all orders are on-demand)
- 3 – 7 business days
- Plastic card on-hand inventory
These times are approximate and can be shorter or longer depending on demands, bank processing times, mailing delays, etc.
That will depend upon your research or business needs. Since we maintain inventories in Procurement and Payment Services, you should not need to keep large quantities of gift cards on-hand in your office areas.
- Fees are paid by the department except lost card fees.
- Plastic Cards $2.95
- Digital Cards $1.00
- Lost Plastic Card $15.00 (deducted from card balance)
- Plastic cards have a $10 minimum and a $1,500 maximum
- Digital cards have a $10 minimum and a $1,000 maximum
- Yes. Plastic cards expire after 24 months. Digital cards expire after 12 months.
- Contact US Bank Customer Service at 1-855-274-9934 or online at US Bank Rewards Card
- Plastic cards are available for pick-up from the Payment Services/Accounts Payable office or they can be delivered to your department. You should note your preference when ordering cards through the ISD. Plastic cards cannot be mailed to your office.
- Digital cards will be emailed to the recipient.
- You can activate your card at US Bank Rewards Card
- Digital cards must be activated within 30 days of receipt or the recipient will have to contact US Bank at 855-274-9934
- Fees may apply if a digital card is replaced with a plastic card
- Reminder emails to activate cards will be sent at 7, 14, and 29 days
- Plastic cards are activated automatically at the time of use
That is up to the recipient. When you activate your digital card, you will be asked if you want to register your card. We recommend you do so as some online merchants require that a card address matches the shipping address on your order.
- The recipient should contact US Bank customer service by phone at 855-274-9934 or online at US Bank Rewards Card
- A $15 fee will be applied to the card balance if a recipient requests a replacement card
Contact Payment Services at ap@wfu.edu
Tools
Forms
Forest Funds Card Recipient Log