Virtual cards are a great way to capture spend that is currently on personal cards and increase visibility on spend you don't have control over. SVB T&E virtual cards can be seamlessly issued from SVB T&E for all types of spend.
Don't currently use SVB virtual cards? Reach out to your SVB relationship manager at SVB to learn more and get started.
Issuing New Cards
Please note:
You can only issue virtual cards to the users who have accepted the invitation to SVB T&E, and have an account within the system.
To issue a new virtual card, you’ll need to click on the ‘Issue New Card’ button on the Dashboard or Team Cards page.
From there, you will assign the card, add a category, description, as well as add any spending restrictions on budget, start date, and end date. Any expense fields that you have in place in your SVB T&E account will be available to select on the card. You can require as many expense fields as you'd like. In this example, you see we have project, job, and client as options.
Employee - Issue a card to anyone setup within SVB T&E
Parent Card - If you use multiple parent cards (i.e. department level) select where to issue the child card
Card Purpose - A description of the card use (i.e 'Monthly LinkedIn Subscription'; 'John's NYC Trip')
Budget - Limit how much can be spent on this card
Frequency - Set the timeframe that limit extends to (once or daily, weekly, monthly recurring)
Start Date (optional) - The card can be used starting on this date (auto-activation)
End Date (optional) - Date the card is deactivated (auto-suspension)
*Please note: adding the category and expense fields to the card means that all expenses coming from that card will automatically receive those values.
Once all details are added and you click 'Issue Card', the user will be notified via email about the issued card. The card will be visible and usable to them immediately on both web and mobile.
Card Requests
Employees are able to request virtual cards in their account. As an admin, you will be notified via email of any card requests.
You can also see these requests on the Card Requests page:
Click the "Approve" button to issue the virtual card, or click on the request's line item to view the card request details and approve or deny from there.
Viewing & Editing Card Details
Once you’ve created the card, you will be able to view and edit the card details at any time on the Team Cards page. You can do this by selecting your Virtual Card Program at the top and searching for the assigned user using the search function or scrolling down to the desired card. All cards are shown in a grid view where you can see the details, budget, card limit and category.
To view the card details, click the "menu" button that appear to the right and select 'Card Details'.
The detailed Card page will show you the card credentials, remaining budget and transactions.
You can select 'Edit Card' from the "Menu" button to make any changes on the budget, frequency, or date restrictions at any time.
View Card Declines
To view card declines, navigate to the detailed Card page and filter the transactions by "Declined".
If you click into the transaction, a Declined Message will be seen at the top of the transaction details.
Cancel Cards
You can cancel a virtual card at anytime. To cancel a virtual card, either select 'Cancel Card' from the "Menu" button on the Team Cards page or navigate to the detailed Card page and click the "Cancel Card" button on the top right.
Please note that this action cannot be undone!
Managing your SVB Virtual Card Account
To manage setup of SVB virtual card program, please reach out to cardservices@firstcitizens.com with questions.