Prepaid Cards

Prepaid cards, regardless of the value, are considered cash equivalents by the Internal Revenue Service and are subject to tax reporting. Departments purchasing and distributing prepaid cards are responsible for compliance with IRS regulations and university policies.

When prepaid cards may be purchased

  • Event prizes such as door prizes, raffles or prizes for participation
  • Tokens of gratitude/thank-yous for volunteering
  • IRB approved research study participants
  • Cards to students for need-based or emergency situations
  • Meals during virtual events that would have otherwise been provided in person

When prepaid cards cannot be purchased

  • Gifts for milestone achievements (e.g., retirements, birthdays, anniversaries, graduations, birth of a child, etc)
  • Gifts for holidays
  • Compensation for goods and/or services received

Card Types Available

  • Amazon - physical gift cards and e-gift cards
  • Target - physical gift cards and e-gift cards
  • US Bank Visa prepaid cards - physical gift cards ($1.50 charge per card, minimum value of $25)
  • DoorDash - minimum order requirement - 25 cards @ $15 each.

Procedures by category

Procedure for cards intended for gifts or prizes

All card recipients, including Rice University Students, must have a supplier record and social security number on file by submitting all required documentation through the Rice University Supplier Application Portal.

Procedure for ordering cards

  1. Submit the Prepaid Card Request Form along with a completed Prepaid Card Disbursement Log to the Bursar's Office through the Secure File Upload Folder. Note that incomplete Prepaid Card Disbursement Logs will be rejected.
  2. The Bursar's Office will initiate purchase and submit payment through a Purchase Requisition, which may require an additional funding approval in iO.
  3. Once the purchase is completed, electronic cards and direct mail disbursements will be disbursed by the Bursar's Office. In-person card disbursements will be arranged with the Prepaid Card Custodian.

Please note that purchase turnaround time can take as long as two weeks, so please consider that when planning.

In the event of an audit, it is the responsibility of the department to maintain proof of disbursement for all cards. Records should be maintained in accordance with Rice University's record retention guidelines.