Purchasing Card Program | SunTrust Corporate Banking

Purchasing Card

Manage risk and expense as you transform your company's purchasing process.

Processing of purchase orders and paper invoices can be extremely costly and inefficient. Transform and simplify your company’s procurement efforts with the SunTrust Purchasing Card. You can pay invoices with a Purchasing Card, allowing you to move closer to a paper-free purchasing process.

To help you manage risk and expense, our Purchasing Card solution gives you complete control over purchasing down to the individual cardholder or vendor level. You’ll know exactly how and where procurement dollars are spent and be able to easily view company-wide spending patterns. You can then use that insight to negotiate favorable terms with commonly used vendors and even educate employees about spending policies and behaviors.

In addition to allowing you to avoid the risk of card abuse with its advanced control features, a Purchasing Card program can help you vastly reduce the number of invoices you and your staff have to process each month while earning generous rebates for your company.2 Through our vendor enrollment process, you can move beyond traditional card-in-hand purchasing card programs by the use of vendor specific card accounts. You will reduce costly paper invoices and payments further, automate accounts payable reconcilement and increase rebates.

To speak with a SunTrust representative call 866.829.6395

  • Features You Need

    • Optimize card usage and get control over spending

      • Assign daily and monthly spending limits for each cardholder
      • Set limits for time frames, vendor categories or individual transactions
      • Dynamically fund vendor-specific card accounts upon invoice approval
      • Protection against misuse—up to $100,000 per employee1
      • Avoid misuse with exception reporting based on criteria you define
  • Cardholder Benefits

    • Convenience and time savings for employees

      • Utilize the convenience and assurance of making a card payment quickly for last-minute needs
      • Remove delays and administrative burdens associated with vendor credit applications, purchase orders, check writing or petty cash
      • Chip technology that improves card and transaction security and enhances acceptance around the world
  • Online Management

    • Tools for running your Purchasing Card program

      Through Enterprise Spend Platform® you have all the features necessary for managing your card program, with flexible application modules you can implement as needed.

      • View detailed statements for all cards from one screen
      • Easily pay outstanding card balances
      • Quickly and easily manage outstanding transactions that require attention, such as GL coding and disputes
      • Integrate Purchasing Cards into your A/P process
      • Review and approve invoices for payment online
      • Electronically fund cards for immediate spending needs
  • Chip Technology

    • Using cards with chip technology

      Cards with chip technology, also known as EMV cards (which stands for Europay, MasterCard®, and Visa®, the organizations responsible for developing the standard), contain an embedded microchip which makes the cards difficult to copy or counterfeit, and are already in wide use around the world.

      Cards with chip technology work the same as your existing magnetic stripe card. However, instead of “swiping” your card, you will insert it into an EMV-capable terminal and enter a Personal Identification Number (PIN) to complete your transaction. If the PIN does not match the one encoded on the chip, the transaction is canceled, protecting you and your company from unauthorized purchases. For terminals not equipped with a slot for chip cards, the card can be swiped as normal to make a payment.

      Below are brochures containing diagrams and instructions for using the new cards:
      How to use cards with chip technology – MasterCard
      How to use cards with chip technology – Visa

DISCLAIMERS

1Please see contract terms and conditions for certain restrictions that may apply.

2For companies with $1,500,000 or more in annual spending on the SunTrust Purchasing Card.

MasterCard and the MasterCard brand mark are registered trademarks of MasterCard International Incorporated.

VISA is registered trademark owned by Visa International Service Association.

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      For details about Wire Transfers with SunTrust, call 800.947.3786

       

      SunTrust Incoming wire instructions:

       

      • For Domestic incoming wire use Routing ABA: 061000104
      • For International incoming wire use SWIFT/BIC: SNTRUS3A
      • Beneficiary account number: SunTrust full account number
      • Beneficiary name: The name as it appears on the SunTrust account


      SunTrust Incoming wire instructions are also available by calling: 800.947.3786 - option 1

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