Canadian dollar denominated cards overview

Note: This article primarily applies to Ramp Administrators. Cardholders may find other articles in the Ramp overview section to be more applicable.

Overview

This article answers some frequently asked questions regarding Canadian dollar-denominated cards.

Issuing Canadian Dollar funds to employees in your Canadian entity will allow you to manage your expenses in the currency of the entity.

Frequently asked questions

What are the requirements for issuing Canadian dollar-denominated funds?

• You must have a Canadian legal entity
• The entity's Canadian office address must be outside Quebec and Saskatchewan
• Ramp must approve the Canadian issuing setup through a KYB check. Ramp may apply an existing approval to additional Canadian entities. See Canadian entity KYB/KYC check for details.

What are the benefits of using locally-denominated funds?

• Transact at local vendors with higher acceptance rates. Some vendors may have fraud/risk rules that do not allow cards of a different denomination.
• No foreign transaction fees for any transactions made with vendors in the same denomination.

What do I need to do to ensure the cardholder's physical card is CAD-denominated?

• Assign the cardholder to a location under the Canadian entity. When inviting the cardholder, turn on Issue a physical Ramp Card. Assigning a location does not automatically issue a card.
• Example:
  • Admin creates a location called "Toronto" in Ramp and adds it under the Canadian Entity within Ramp
  • Then, John Smith is invited to Ramp under the "Toronto" location and issued a physical card. The physical card is CAD-denominated.

Are virtual and physical CAD cards available?

• Virtual cards can be issued in CAD and used online or through a mobile wallet.
• A CAD physical card can spend CAD funds that have physical-card spending enabled.
• You can read more about Funds, cards, and Spend Programs here.

Is there anything different about CAD physical cards and USD physical cards that cardholders should be aware of?

• CAD physical cards have PINs. This is a standard security measure in Canada. See more here.

Is it possible for a cardholder to have cards of different denominations?

• In general, funds and virtual cards issued to a given user will be the currency that the entity has configured as its issuing currency.
• However , a cardholder can have funds and virtual cards of different denominations associated with other entities.

If a cardholder is using an international card, what billing address would they use?

• A CAD card's billing address comes from the issuing entity's business address, not the cardholder's personal address.

How are statements paid?

• You will be able to pay for the CAD entity's statement with your Canadian bank.