Frequently Asked Questions
Any UNM employee whose position requires them to routinely complete purchase requisitions for small dollar purchases is a candidate to obtain a PCard.
No, UNM will receive a monthly statement for the previous month's transactions and will have 30 days to pay the statement.
Small dollar purchases are $10,000 or less.
It is necessary to cancel your PCard based on the originating parameters. Should you need a PCard in the new location, contact the PCard Administrator in the Purchasing Department.
With the exception of certain limitations, as listed below, the UNM PCard functions just like your personal credit card. When you present the PCard to a vendor, they will usually request authorization through the credit card network. If the purchase falls within the PCard's pre-established limits, you will receive the goods and be asked to sign for the purchase. At this time, you should receive a detailed receipt identifying the items purchased.
Standard Card limits are as follows:
- Not to be used for transactions exceeding $10,000
- Not to be used for personal items
- Not to be used for unallowable services
- Not for cash advances
- Each department may place additional limits as dictated by the department's needs.
No, a disputed charge procedure will allow the Cardholder to notify Accounts Payable through the PCard Administrator of charges on their monthly statement that are incorrect. We do not have to pay these charges until such disputes are resolved.
The agreement with the bank sets up one individual that will be the University's responsible person for official notification such as terminations and new PCards. This will be the PCard Administrator. The PCards must also be physically collected. This will be accomplished through the current personnel exit procedure that requires individuals to check out through the Purchasing Department for PCards and American Express Cards.
In the event that your PCard is lost or stolen, a report must be submitted directly to Bank of America within 24 hours. You must contact the PCard Administrator within 24 hours to report the loss/theft, as well as reporting the loss/theft directly to Bank of America at (866) 500-8262 within 24 hours.
Yes, but only through LoboMart. Purchasing a computer or server outside of the LoboMart eProcurement system is strictly prohibited.