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.
Reach out to your Account Manager or sales@ramp.com if you operate in Canada and are interested in participating.
Issuing Canadian Dollar cards to employees in your Canadian entity will allow you to manage your expenses in the currency of the entity.
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Frequently Asked Questions (FAQs)
What are the requirements for Canadian dollar-denominated cards?
- You must have a Canadian legal entity
- You are a multi-entity business and use Ramp for Multi-Entity Companies
- You must complete the KYB check for your Canadian entity within your Ramp instance. Details on what is asked for during the KYB check are found here.
What are the benefits of using locally-denominated cards?
- Transact at local merchants with higher acceptance rates. Some merchants may have fraud/risk rules that do not allow cards of a different denomination.
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No foreign transaction fees for any transactions made with merchants in the same denomination.
What do I need to do to ensure the cards a cardholder gets are CAD-denominated?
- Once a Canadian Entity has completed KYB, all users tied to a location under that Canadian entity will automatically be issued CAD-denominated cards
- 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. Any card issued to John Smith, both virtual and physical, will be CAD-denominated.
Are physical and virtual CAD cards available?
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Both virtual and physical cards
Is there anything different about CAD cards and USD 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?
- No, a cardholder can't have cards of different denominations. Each business entity, and the cardholders within it, operate with a single card denomination.
If a cardholder is using an international card, what billing address would they use?
- For non-USD cards, the billing address will be their local address (Canadian address for CAD, EU address for EUR, etc.)
How are statements paid?
- You will be able to pay for the CAD entity's statement with your Canadian bank.