Transacting College business in foreign currency requires additional attention and documentation when submitting reimbursements. Review the guidance below carefully before traveling internationally or engaging with foreign vendors.
For questions, contact Accounts Payable
P-card for Foreign Travel:
Due to the increased risk of international credit card fraud and the complexity of resolving fraudulent foreign transactions, all P-Card holders traveling international on College business should take the following steps prior to departure:
- Contact PNC Bank Customer Service 1-800-685-4039 to notify account managers of your travel dates and destinations. This will aid in foreign transactions are processed without interruption.
- Always carry an alternate method of payment in the event your P-Card is declined or compromised while abroad.
Foreign Currency Reimbursements:
When requesting reimbursement, all expenses incurred in foreign currencies must be converted to U.S. dollars by the traveler. Documentation supporting the exchange rate used (such as a screen shot) must be attached to the reimbursement request or the travel advance reconciliation.
- Each individual receipt must be converted to U.S. dollars using the currency exchange rate for that day. When traveling for a week's time, you may use the average currency rate for that week.
- Vendor documentation and/or receipts printed in a foreign language should include a notation as to what the expense is.
- Currency exchange rates for specific dates of travel can be found using OANDA’s website: https://www.oanda.com/currency/converter/.
Payments to Foreign Service Providers:
Payments to foreign vendors for services (honorarium, consulting, etc.) are generally subject to additional withholding. Please contact the Accounts Payable office for assistance prior to initiating payment. Accounts Payable will request the purchasing department obtain a Form W-8BEN from the vendor
Purchases from Foreign Vendors:
Purchases made from foreign vendors - whether online or through other channels - may require additional documentation and incur additional charges associated with the U.S. Customs clearance and delivery to campus.
For purchases exceeding $2,000, please review the U.S. Customs and Border Protection guidelines regarding the importation of goods, including potential duties, tariffs, and other associated costs, prior to placing your order.