PEX for Educational Organizations

Now it’s easier and less time consuming to distribute funds and track spending.

From student clubs and events to books and classroom supplies, PEX helps keep every program on budget, and delivers the paperwork to prove it. Universities, charter schools and multi-site facilities—all use PEX to support a wide range of spending needs.

More convenient than cash and checks

With PEX, you deposit a pool of money into an account where your funds are FDIC-insured through The Bancorp Bank; Member FDIC, and use the underlying PEX technology to:

  • Directly fund and defund prepaid cards, or automate the process
  • Receive instant alerts every time a card is used or declined
  • Spare teachers, students and others from waiting for reimbursement
Better control over how money is spent

PEX corporate card alternative can help you ensure that every penny in your budget is spent the way it’s supposed to be. With PEX, you can:

  • Limit card usage to specific merchant categories and budgets
  • Create separate rules for individual cards or groups of cards
  • Override rules or authorize single purchases, through a mobile app
Simplifies allocations and reconciliations

PEX works with your General Ledger codes and integrates with most accounting software. The system automatically:

  • Captures receipts through camera on cardholder’s smartphone
  • Allocates transactions to programs, departments, grants, etc.
  • Updates approved transactions to your accounting software

See how PEX improves the way educational institutions enable and track spending.