Overview
Locally-funded statement payments enable customers to make payments using their local CAD, EUR, or GBP bank accounts. This means you can settle your monthly card statements in your local currency, streamlining your financial operations - saving your business time and money.
What are the benefits?
Eliminate inter-company transfers
By processing payments directly from your local bank accounts, you can avoid the complexities and challenges associated with inter-company transfers. This simplifies your accounting allowing you to operate more efficiently.
International bank linking
Connecting your account using our partners bank connections software makes monthly payments easy. Once you’ve connected your bank account - we’ll do the rest, automatically scheduling your payments each month.
How does it work?
Locally-funded statement payments are now available for all Enterprise and Plus customers, who use Sage, Netsuite or UCSV. Ramp provides entity-specific statements, allowing each business entity to link its own local bank account and manage its card payments in its operating currency.
Locally denominated cards (Enterprise only)
Locally denominated cards are currently available in CAD, GBP and EUR for customers on the Enterprise plan.
USD denominated cards
Ramp Plus customers pay card statements from linked bank accounts in CAD, GBP, or EUR even when issuing USD cards. When paying USD card statements from non-USD bank accounts Ramp will calculate an exchange rate at the time of statement payment to settle the statement.
If you’re interested in opting into local statement payments for your business please contact your Account Manager or email sales@ramp.com