Locally-funded statement payments

Overview

Available on Ramp Enterprise. See Ramp Enterprise overview for plan details.

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 available to Ramp Enterprise businesses that use multi-entity and have an international entity. A connected accounting provider is not required for automatic statement payment. During entity setup, Xero, QuickBooks Online, and Universal CSV connections identified as QuickBooks Desktop are not supported for users who can manage accounting connections. Other providers are not blocked by this setup path, but backend eligibility and international card availability still apply.

Please note: This is only available for multi-entity organizations with an international entity.

Locally denominated cards (Enterprise only)

Locally denominated cards are currently available in CAD, GBP and EUR for customers on the Enterprise plan.

For AUD, JPY, MXN, or SGD statements, automatic payment from a linked bank account is not available. If wire transfer is available for your business and you select it as the entity's payment method, send the wire in the statement currency. See Wire transfers for card statement payments for the steps.

If your business does not meet these requirements, see Making card statement payments to Ramp for the payment methods available to your business.

USD denominated cards

Enterprise customers can pay USD card statements from linked bank accounts in CAD, GBP, or EUR. When paying USD card statements from non-USD bank accounts, Ramp calculates an exchange rate at the time of statement payment to settle the statement.