Credit Card Financial Transactions Policy

This policy outlines the appropriate usage of organisation credit cards and safeguarding against credit card abuse.

There are several reasons that having a credit card financial transaction policy is crucial:

• Financial Accountability: Ensuring all transactions are documented and accounted for helps to maintain accountability, which is essential for gaining and retaining trust.
• Fraud Prevention: Establishing guidelines on who can use the card and how helps prevent misuse and fraud. Regular monitoring and reconciliation of statements reduces the risk of unauthorized transactions.
• Cost Management: A credit card policy can help manage expenses with limits on spending and specifying allowable expenses.
• Compliance with Regulations: Complying with financial regulations and standards helps reduce the risk of legal issues.
• Operational Efficiency: Credit cards can streamline payment of routine expenses, travel and emergency. Consistent and efficient handling of these transactions supports smooth operations.

This policy is used any time an organisations credit card, or other financial tool such as PayPal, needs to be used.