Spend cards help streamline expenses and empower teams to manage purchases effectively. Through our integration with Stripe, you can easily issue spend cards with essential controls in place. This guide will walk you through the steps to issue a spend card and outline important compliance requirements.
💡 You will not be able to issue a card until the sponsored organization has completed its Know-Your-Customer information
Step 1: Log in to Your ImpactGraph Dashboard
Go to your ImpactGraph dashboard (https://app.impactgraph.ai) and log in with your admin credentials.
Navigate to Cards in the left hand navigation
Step 2: Start the Card Issuance Process
Click on Issue New Card.
Choose the Organization for which the card is being issued.
Select the User who will be the cardholder. If you don't see the person you're looking for, you'll need to add them as a user first.
Select the Card Type:
Virtual Card: For online purchases only.
Physical Card: For in-person and online transactions.
💡An individual needs to have an updated address, birthday, and phone number to be eligible for a spend card.
Step 3: Set Spending Controls
Define the Spending Limit. This limit can be set for:
Daily, weekly, monthly, yearly, or per transaction caps.
Specific transaction types (e.g., travel, supplies).
Set any restrictions to Block Transaction Categories if certain expense categories are off-limits. We default to block political organizations. Please email us at [email protected] if you would like to add more defaults.
Review all details and click Issue Card.
Compliance and KYC (Know Your Customer) Requirements
Issuing a spend card involves regulatory and compliance checks to protect both the fiscal sponsor and the sponsored organization. Learn more about our security and compliance processes here. Here are a few important compliance steps you must follow:
Verification of Identity: Before issuing a card, Stripe requires KYC checks on the cardholder. This may include verifying the cardholder’s ID and certain information about the sponsored organization.
Financial Controls: ImpactGraph monitors transactions for security and compliance. Spend cards should only be used for approved project expenses that align with the goals and restrictions of the sponsored organization.
Record-Keeping: Maintain memos and receipts of all transactions and card usage for compliance purposes. All transactions are logged and can be reviewed in your transaction dashboard.
Note: ImpactGraph is committed to helping fiscal sponsors meet compliance requirements, but we recommend consulting your own compliance or legal team for specific guidance related to your organization.
Frequently Asked Questions
Q: How long does it take for a physical card to arrive?
A: Physical cards typically take 5-7 business days to arrive at the listed address.
Q: Can I adjust spending limits after issuing the card?
A: Yes, you can adjust spending limits at any time on the Cards page.
Q: What happens if a cardholder loses their card?
A: In case of loss, navigate to Cards and select Deactivate Card. Please also email us at [email protected] so we can confirm deletion and monitor for fraudulent transactions. You can then reissue a new card as needed.
Q: What happens if I need to dispute a transaction?
A: Here you can see the process to dispute a transaction or notify us of an error with an expense.